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ericlee 11-11-2009 2:02 PM

So I really want to upgrade to a cruiser but have a few questions. This is the only boat message board I look at so point me in the right direction or help a bother out... <BR> <BR>1. How long can you go on a loan for a cruiser. I am looking at around 100,000 for a Sea Ray around 2000 model year 40ft <BR> <BR>2. Can this boat be classified as a house or how does that work? <BR> <BR>3. Anyone do boat loans that want to help me out?

polarbill 11-11-2009 2:17 PM

1. You can probably do up to 20 year loans. <BR>2. Yes, you can write off the interest payments as a second house. <BR>3. I would go see if your local credit union has something for you. BECU here in the Seattle area has options. Here is a link to some of their info. <BR> <BR><a href="http://www.becu.org/pdfsource/loanratesheet.pdf" target="_blank">http://www.becu.org/pdfsource/loanratesheet.pdf</a> <BR> <BR>As you can see for a boat loan over 100k they can do 20 years but would require 30% down you could get a rate as low as 6.74%. <BR> <BR>I am not sure if there are other good yacht loan companies.

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