Join Date: Mar 2006
Location: New England
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If you document the boat, the loan is often a Marine Mortgage, rather than a personal loan, and has much better terms generally. Also, the mortgage interest on a boat can be tax deductible in some cases, provided the boat has a permanent head and galley on-board, as it can qualify as a residence.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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Still—DON'T READ THAT POST AGAIN.