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Old    eric ivey (ericlee)      Join Date: Apr 2007       11-11-2009, 3:02 PM Reply   
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...

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

2. Can this boat be classified as a house or how does that work?

3. Anyone do boat loans that want to help me out?
Old    Brett Yates (polarbill)      Join Date: Jun 2003       11-11-2009, 3:17 PM Reply   
1. You can probably do up to 20 year loans.
2. Yes, you can write off the interest payments as a second house.
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.

http://www.becu.org/pdfsource/loanratesheet.pdf

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%.

I am not sure if there are other good yacht loan companies.

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