I am looking at a 1999 or newer boat in the $25K range does anyone know if they usually will do a 180mo term for that age? How much do they usually want down? 10-15%??? I am just trying to scope it out prior to taking the plunge. Thanks, Tres
agreed however being a fairly young guy my salary is increasing at a fairly rapid rate therefore I can paydown the principle at a higher rate in years to come.
Have you heard of terms that long for used boats in that price/age range?
I found a very nice 99 MC Prostar 205 V with less than 300 hours for $17k a few months ago...I have been on the boat market for a while and was excited about that boat and price so being that I didn't have 17k in my bank account I did some loan shopping. The best terms I found on that boat was 11% for 120 months with 10% down. The lender did tell me that above 25k the interest rate would drop some. I have never heard of lenders going 180 months out on boats that are not within a year or two of current year model. Just my personal experience...hope it helps.
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