Posts: 194
Location: Lincolnshire, IL | banker - 12/7/2007 10:37 PM
if you are financing a boat for 10 years it is a dumb investment. if makes no financial sense whatsoever. i would imagine that banks with strong portfolios do not make 10yr boat loans. they will however do them on a line of some sort. home equity, personal line of credit, ect...these are in some cases renewable annually and usually backed by strong collateral. (residence, securities...)
I digress...
but why would you finace a 30k for that long?
if you are financing a boat for 10 years it is a dumb investment - Not sure anyone called buying a pleasure/fishing boat an investment....
if makes no financial sense whatsoever...I believe if you look in Webster's Dictionary, this is part of the description that defines the word boat....
I can't remember the exact quote from the FLW angler during the tour championship..but it went something like...He didn't want to be the richest guy in the cemetary so he bought a new Ranger 620...Of course, he also sounded like he had been "investing" his money wisely thoughout a good portion of his life...
BOATS ARE TOO EXPENSIVE...but i couldn't live w/out one..... |
