brnzbaklvr wrote:JeffNaish wrote: 180 months is the most leaders will go. Only a few go that long. I went a 180 months on my new boat. One it helped the payment out, two its simple intrest, three I got one of the lowest rates on a new boat I have ever seen. I have awesome credit and I plan on paying more once I pay off my truck. Its really whatever the person wants to do. Remember getting a boat loan isnt easy. Most will approve you for 5-6 years but any longer and its tough. Yes I have been in banking, finance, and Mortgage my who career so I know what I am talking about. If you go 12 or 15 years that does not mean you cant afford you boat. Dont agree with that statement. Its opinions, yes I would have liked to go only 84 months but that wasnt in the cards at the time I bought. Now with my trucking being paid off in 30 days I can double payments and cut the term in half.You basically just confirmed the Point that Bama96 was making…..You couldnt afford the new boat and make payments for transportation at the same time so you went with what I would consider a loan that is going to be way to expensive….Without Transportation you probably cant get to work so that is a priority….If you are disciplined enough to make double payments that is great but as most of us know it seems like every month some unexpected bill comes up and the money goes towards that…..Not lecturing but as you said it is just my opinion that no way would I ever go more than 60 months for what is basically a toy…..I dont like the financial burden of not being able to unload something for true market value in a crisis…..Its bad enough with housing..MAYBE NOW WOULD BE A GOOD TIME TO REFINANCE AT A SHORTER TERM
