Where to get a boat loan?

Post by **Atticus** » February 22nd, 2005, 9:49 pm

Okay I need to get some financing for a boat purchase...

Where should I start looking?

And who do you guys insure your boats with? I am a State Farm guy for all my insurance needs but I have heard they don't do boats or they don't offer the best policies for boats.

ps- Storage problem is taken care-of

Post by **tin can** » February 22nd, 2005, 9:54 pm

Your bank, or credit union is a good place to start. Most dealers can help you find financing.

What are ya lookin at? One of them offshore rigs wit 4 outboards hung out the back? (I know how you lawyers hafta have the best

)

Post by **Chalk** » February 22nd, 2005, 10:02 pm

Check with boattraderonline, they have several to choose from...John Deere credit is a a big boat financier as well, your bank and the local boat stores....

Post by **RodBow** » February 22nd, 2005, 10:45 pm

Mr. DEfense attorney, I bet there'll be some guys holding a pen for you to sign with at the boat show Sunday. Heck, by 2:00 you should have it in the water! What you gonna call her? "Luke's Law"

Post by **mjsigns** » February 22nd, 2005, 11:15 pm

Just go to your bank and arrange a home equity loan or line of credit, and get that big boat 21+ feet will all the accoutrement's and a pair of them big block four stroke outboards that can hit 40mph and sound like nothing more than a whisper....

Get what you want the first time around, it will be cheaper... ..

Post by **Atticus** » February 23rd, 2005, 12:31 am

Small boat... one motor

Post by **Sir reel** » February 23rd, 2005, 9:45 am

I'd go with a credit union over a bank unless you've got better contacts at a bank. State Farm does insure boats...that's who I went with. I've had two claims and they've been great about both of them. If you want specifics PM me.

Post by **wevans** » February 23rd, 2005, 9:47 am

Bid on this one next month

ya might get it fairly cheap

http://cgi.govliquidation.com/auction/view?id=536380

Post by **manley** » February 23rd, 2005, 10:05 am

Atticus wrote:And who do you guys insure your boats with? I am a State Farm guy for all my insurance needs but I have heard they don't do boats or they don't offer the best policies for boats.

My insurance is with state farm, and NOONE can touch the rates... and believe me, I have shopped.

For financing, check your dealer options. They are usually lower rates and longer terms than either banks or credit unions offer. They are also highly negotiable. Familiarize yourself with how "business managers" make money for the dealership on the "back end" and also the term "buy rate." It may save you a good deal of money.

I, however, have always preferred the Chinese payment plan... "onelumpsum"

Good luck, Atticus!

dstockwell · Post by **dstockwell** » February 23rd, 2005, 10:16 am

iknownuthin wrote:My insurance is with state farm, and NOONE can touch the rates... and believe me, I have shopped.

Maybe, maybe not. I first had progressive on the first boat, then the 2nd they were to high and went to Boat U.S. shop around.

chugbug · Post by **chugbug** » February 23rd, 2005, 10:50 am

As far as insurance goes, get the boat insured but dont bother with on the water towing. I would go with Towboat US or Sea Tow. I have mine finance through a credit union 5% interest. If you have that much in home equity that would be the way to go.

Post by **rocket** » February 23rd, 2005, 10:59 am

My Progressive policy costs $150(+- a little) per year. I thought that was fair. Don Oelerich Ins. 878-8877.
If you have a personal banker, I would go there first. FMB has always done me right.

BigBendFishing.Net

Where to get a boat loan?

Where to get a boat loan?

Re: Where to get a boat loan?

Re: Where to get a boat loan?