Originally Posted by srock
I don't understand the risk, isn't the floorplan loan secured by boat?
Sort of. If the dealer goes out of business, then the flooring company will have to sell the boat and it will probably go for less than cost. On top of that, the dealer probably did not pay the interest for a while before the flooring company gets around to repo'ing it all.
I would loan money only to a very few boat dealers right now...would you?