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Old 17-02-2015, 16:24   #1
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Join Date: Aug 2014
Location: Portland, OR
Boat: 1969 Grampian Classic 31'
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Sailboat financing to liveaboard

Here's the short version to get this conversation started:
I already own a boat that i will be sailing the next 3 years locally while i get ready to cruise. I am currently renting a house, but would like to purchase a second, larger boat to live on (at the same marina as my current boat, so that i can work on the first). Tis second boat would be my cruising boat.

My "plan" is to set sail cruising in 3 years. The seond boat I purchase would be the boat I plan to cruise with. I would sell the first boat or donate it.

I would rather pay a finance company than continue to pay rent. Are there any companies out there who do mortgages on boats if it will be your residence? If not, am I eft with just an unsecured loan? RV Loan? Are there assumable loans for boats?
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Old 17-02-2015, 17:07   #2
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Location: Lakewood Ranch, FLORIDA
Boat: Alden 50, Sarasota, Florida
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Re: Sailboat financing to liveaboard

This isn't a reliable source of tax advice. About the only 'sound'. advice I've ever read here is that financing a depreciating asset is never a good idea.
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