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**Boracay** · 27-10-2007, 18:09

I've found that my personal antennae are better tunned to the ether than the media.

It's just that I'm not getting a clear signal at the moment...

chankya · 02-01-2008, 02:49

I dont have the Boat so does not know what kind of the loans are to be paid or that are being offered by the different companies, i like the water sports and like to have a small boat so think to get some idea from you people.

Connemara · 02-01-2008, 10:52

When we bought Connemara, we had cash to spare, so we put down half the price and paid the rest with a line of credit that costs us 6.75% a year. The LOC is grandfathered from a time when I had lot of investments with the bank as well as a mortgage, so it's cheap.

And then I paid the LOC off aggressively.

The nice thing about an LOC is you can pay it off as quickly or as slowly as you like.

Connemara

**GordMay** · 02-01-2008, 11:56

Quote:

Originally Posted by Connemara

When we bought Connemara, we had cash to spare, so we put down half the price and paid the rest with a line of credit that costs us 6.75% a year. The LOC is grandfathered from a time when I had lot of investments with the bank as well as a mortgage, so it's cheap.
And then I paid the LOC off aggressively.
The nice thing about an LOC is you can pay it off as quickly or as slowly as you like.
Connemara

Today's BoatUS loan Rates Are:
*6.75%APR for loans over $100,000

www.boatus.com/boatloans/

Connemara · 02-01-2008, 14:13

But that's a fixed repayment schedule, right?

Connemara

rtbates · 02-01-2008, 15:21

what's a boat loan..haha

IF you buy your boat with cash, you own it.
IF you finance your boat, IT owns you...

little boat · 03-03-2008, 09:31

Quote:

Originally Posted by rtbates

what's a boat loan..haha
IF you buy your boat with cash, you own it.
IF you finance your boat, IT owns you...

In a conversation admiring a boat a pal and I had been invited aboard, he responded: "Ah, but we own our boats. They don't own that boat; the bank does."

Lightfin · 03-03-2008, 15:19

For the person asking where to invest their money, this week Citi Financial (Citicorp) is offering two pretty good bonds:

7.25% for four year bond (interest paid every six months)

and

7.9% for five year bond.

Not FDIC insured, but 'A" rated, and probably not much risk.

Charlie · 03-03-2008, 15:37

Be careful on that one. I put some money in a "liquid bond" account with Citigroup and a month later they told me it was no longer liquid. I still get paid the interest but I can't get my cash out. Right now FIDC insured money is the way to go in my opinion. It's better to lose a little on the rate now till things settle down than to lose your principle.

**Pblais** · 03-03-2008, 16:42

Financial advice gained from Internet posts is not always worth what you paid for it. Crusiers Forums suggests nothing you read about financial advice on this site is validated in any way.

hugosalt · 09-03-2008, 13:06

Have good fortune of no loan on boat or anything else, was'nt always the case.
Under the heading...for what it's worth...My son was applying for a auto loan, rate around 8%...I suggested he check if his college had a credit union? They did and he
now has a loan for 5%...Don't know if they do boat loans?
Besides colleges many organizations may have credit unions: labor unions, large employers, social org. etc....just a thought.