Boat Loan Financing Terms
How difficult is it for the financing of a Boat?
I'm 28 and just bought a house for $ 400,000 three months ago. My score credit is around 700. I make about $ 90,000 / year @ No other accounts than the normal cost of living. I was denied a loan at interest low for a used boat I was looking at ($ 12,000 Sea Doo Speedster). . I was wondering if buying home 'screwed up' my credit (short term). . . or if Boat Loans are difficult to obtain compared to a house?. . . . any help / ideas would be all good. Thanks for reading and helping me with this … Its hot in Southern California and now want to be in the water.
Chances are, if the bank turned down, you really do not need a boat of $ 12,000, even if it is used. Save up some money and buy a cheaper one without a loan. That way you can have fun without interest! And believe me, a boat is a giant hole in the water (hydro) that will suck all the money available – the boat my husband does, so I'm glad we're not doing paid for it, too!
