Is this true?

[bobconnie]

Plain simple BULL!! Changed your mind again huh??

[WebWench]

I would call several boat finance companies to verify the information you were given. I know it is much harder to finance older boats.
One big issue you need to probably accept as you go into buying a boat is that like a trailer house on land it's value will decrease with age. Also any money you spend on maintenance and repairs will most likely never be regained. The boat will still depreciate....but maybe not as much as one that is poorly maintained.

The majority of people that buy " fixer upper" boats find out very quickly that it costs much more to fix it up as one in better condition would have cost in the first place. The only big positive from fixing a boat up yourself is that you will have an in depth knowledge of the systems....when they break down again.

When I go into a boat purchase I accept the fact that the pleasure of owning a boat is going to cost me one way or another. I accept the fact that I will likely not recoup my investment if and when I will resell the boat.

[Cheechako]

I doubt it's true, with the banks it's all about age and survey. Usually they dont know the bow from the stern. The Hatteras were very well built boats from what I've seem. Ditto for Tollycraft. Looking at the boats in a marina, it seems Tolly owners take better care. I've seen a lot of dumpy condition Hatteras. Maybe it's because they have more exterior wood. If you havent looked at any old Tolly's... take a look. It was a family owned business, they cut no corners. Many Tolly owners have totally restored their boats. I think they built 25-70 feet.

[valhalla360]

First quesiton: Does he have one he's trying to sell you?
Second question: Why are you even talking to this guy still? I wouldn't trust him anymore.

It was about 15 yrs ago and we would never take a loan out on a boat again but no problem financing a 22 yr old silverton.

[Ocean Girl]

He may be just misinformed, not trying to deceive you. Talk to your finance person, I assumed you have gotten pre approval?

Hatteras are really nice powerboats, don't know why all the slack about them, they go offshore regularly.

1989 60 (ft.) Hatteras Flybridge for sale in New Bern, NC. | ID 38032

1980 60 (ft.) Hatteras Convertible for sale in Rockport, TX. | ID 95572

53.0 ft 1985 Hatteras 53 Motor Yacht

Good luck GG, keep the boat shopping fun, this is part of the adventure

[valhalla360]

Originally Posted by Ocean Girl

He may be just misinformed, not trying to deceive you. Talk to your finance person, I assumed you have gotten pre approval?

Hatteras are really nice powerboats, don't know why all the slack about them, they go offshore regularly.

1989 60 (ft.) Hatteras Flybridge for sale in New Bern, NC. | ID 38032

1980 60 (ft.) Hatteras Convertible for sale in Rockport, TX. | ID 95572

53.0 ft 1985 Hatteras 53 Motor Yacht

Good luck GG, keep the boat shopping fun, this is part of the adventure

If the broker is that missinformed, I still wouldn't trust anything he has to say.

Basically, he's either incompetent or decietful. I suspect the later if he's been in the buisness for more than a couple months.

[Ocean Girl]

Originally Posted by valhalla360

If the broker is that missinformed, I still wouldn't trust anything he has to say.

Basically, he's either incompetent or decietful. I suspect the later if he's been in the buisness for more than a couple months.

Yes, no truer words ever spoken Never trust a broker completely. We have one, known for over 20 years, trust would be a strong word...respect maybe..?

The only person I fully trust with money is my hubby.

[Captain Mack28]

I say not true, the make and model will not make a difference, the age is what the banks look at. 20 years is it, i have 45,000 ready to buy a liveaboard and I will buy what I need with that money~30,000 or so and the rest to move it, fix it, and register it. A broker is usually not your friend, be careful and check out several financing options, also think about insurance, most companies will not insure an older boat and if your marina requires insurance you won't be living there Keep the faith though, there is a way to succeed!!!!

[minaret]

Originally Posted by Cheechako

I doubt it's true, with the banks it's all about age and survey. Usually they dont know the bow from the stern. The Hatteras were very well built boats from what I've seem. Ditto for Tollycraft. Looking at the boats in a marina, it seems Tolly owners take better care. I've seen a lot of dumpy condition Hatteras. Maybe it's because they have more exterior wood. If you havent looked at any old Tolly's... take a look. It was a family owned business, they cut no corners. Many Tolly owners have totally restored their boats. I think they built 25-70 feet.

Yep, restored many a Tolly, spoken with Tolly Tollefson, etc. etc. They are not exempt from the usual production boat issues. Especially earlier models. I remember a total refit on one that had clearly had all the fillets made with leftover chopper gun resin mixed with shop sawdust. The more I ground, the more I found cigarrette butts and bubble gum built into the fillets. Not horribly uncommon in that era, but less than confidence inspiring nonetheless...


Talk to Gerry Zubich, the "Tolly King", if interested in these boats. He knows them all, done lots of restorations and extensions with us. He's at Queen City Yacht Club. Incidentally, speaking of QCYC-



Man with no pants wrecks Seattle marina | The Today File | Seattle Times


Old timer had to fill this guy with lead to get him to stop....

[chrisjs]

While I readily admit to no personal experience or direct knowledge in this area (never held me back before, nor many others on this list!!), I would expect that any bank financing for an older large boat (65-80ft) would not want to carry much of the load even if they would provide financing. Consider that a repo would result in a fire sale to a small depressed market, and my guess is you would be lucky to get 50% financing.

[minaret]

Originally Posted by chrisjs

While I readily admit to no personal experience or direct knowledge in this area (never held me back before, nor many others on this list!!), I would expect that any bank financing for an older large boat (65-80ft) would not want to carry much of the load even if they would provide financing. Consider that a repo would result in a fire sale to a small depressed market, and my guess is you would be lucky to get 50% financing.

I really don't think she's looking for financing. Lying broker just had her thinking a Hat might hold its value better due to being "easier to finance".

[boatman61]

[rw58ph]

I still say she should finance initially in case they do not make it through the winter, so she has the finances for a Plan B. I still give her a 50% change if being a year especially in the dead of winter. If its perceived she is putting her children in to much risk the chances are high marina, city or state may come knocking. One miss step/slip is all it takes. I know of marines that have given 30 day notice as they perceived the liability was to great, and a couple that city state stepped in. We been a live aboard for 16 years and seen hundred of wanta be live aboard come and go.

So before she even buys a boat she need to focus on the marina, slip and regulations. She also needs to be aware that live a board do not have the same rights as on the dirt. Marinas can/will give 30 day notice to vacate, so most live a boards have a Plan B. Our plan B is we bought a condo so we could have a land address and claim to be a non live aboard if need by. Also she should not buy a boat bigger than th slips most marinas have and what yards can handle. In the PNW I wold not buy a boat bigger than 60 ft, and 50 tons. So she needs the finances to have a Plan B.

Don't get me wrong I ma all for her buying a boat and being a live aboard as long as she understands what she is doing.

[minaret]

Originally Posted by rw58ph

I still say she should finance initially in case they do not make it through the winter, so she has the finances for a Plan B. I still give her a 50% change if being a year especially in the dead of winter. If its perceived she is putting her children in to much risk the chances are high marina, city or state may come knocking. One miss step/slip is all it takes. I know of marines that have given 30 day notice as they perceived the liability was to great, and a couple that city state stepped in. We been a live aboard for 16 years and seen hundred of wanta be live aboard come and go.

So before she even buys a boat she need to focus on the marina, slip and regulations. She also needs to be aware that live a board do not have the same rights as on the dirt. Marinas can/will give 30 day notice to vacate, so most live a boards have a Plan B. Our plan B is we bought a condo so we could have a land address and claim to be a non live aboard if need by. Also she should not buy a boat bigger than th slips most marinas have and what yards can handle. In the PNW I wold not buy a boat bigger than 60 ft, and 50 tons. So she needs the finances to have a Plan B.

Don't get me wrong I ma all for her buying a boat and being a live aboard as long as she understands what she is doing.

Really? I know a lot of liveaboards with kids. Seen lots of derelicts with kids aboard too. Never seen the state step in, or even heard of it. Where do you keep your boat? Elliot Bay?

Many marinas around here have retooled to have more big slips and less small ones, because there are more big boats these days. I'd be comfortable around here up to about 120'.

[rtbates]

I don't have a clue, BUT if I wanted one, a clue that is, I'd call the leaders.