Thread: LENGTH OF LOANS

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  1. #1
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    LENGTH OF LOANS

    what is the longest you can get a loan on a for example a 70k boat......just curious

  2. Member
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    Saint Marys, Ohio
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    #2
    15+

  3. Member
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    #3
    And by the time you paid it off in 15+ years...you will have paid over $120.000 for a boat that will be worth maybe $30,000 when its finally paid for. Ask anyone.

  4. Member
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    #4
    The bank financed 20 years on 60k for mine. I agree you will pay a lot in interest over time but it allows me to fish out of the boat I want for a small monthly payment.

  5. Member
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    #5
    For big salt boats I saw 30 year loans for 70k boats. Makes you understand why suddenly a 23-24 bay boat is approaching $100k. I will stay in my poverty 23ft aluminum bay boat with no loans.

  6. Member
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    #6

  7. BBC SPONSOR
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    #7
    The thing you need to remember with any loan is always your credit score. The better it is the longer you can finance and the lower the rate is. You can reach out to my friends at Reclending.com and they'll be happy to answer any questions you have or assist in anyway possible. They're a great group to work with.

  8. Member
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    #8
    Im in oklahoma as well and wanting to do the same with 20yrs, what bank did you use if you don't mind me asking?
    2022 Skeeter ZX150 Color Option 2

  9. Banned
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    #9
    i find it funny that everyone thinks if you take out a loan for 15-20 years that you pay it off at term. i always take out the longest loan possible. for example i bought a new z21 pro this year out the door was 72k i financed it for 15 years with 8k down. it will be paid off the end of next year and i had a 3.99 rate on it. everyone assumes that people who take loans are idiots but i think its the other way around.

  10. Member
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    #10
    How are you liking that Z21? My first boat was a Nitro and the only issue was the Johnson motor and it was too small, 16ft but i would still have it today if i had not sold it during my troubled marriage. Im currently trying to replace what i lost and trying to figure out what i can afford, maybe a new 18ft or a older good used 20ft.
    2022 Skeeter ZX150 Color Option 2

  11. Member
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    #11
    Well, not to mention, if you happen to get extra money, pay more off each month! That will lower the amount of time you will pay the boat off. Lets say you pay 300 per month at 12 years, and you happen to have 3-4k laying around, use that to to decrease the loan amount!





  12. BBC SPONSOR FirstClassFinancialSrvs's Avatar
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    #12
    Most of the Prime lenders we work with will go 20 years on anything 50k and above. In most instances, the rate on a 15 and 20 year are the same.

    Give us a shout if you have anymore questions.

    www.firstclassfs.com

    Tim Kratz
    Tim Kratz
    First Class Financial Services
    Office- 813-461-3888
    Cell- 973-960-9227
    Fax-866-583-2106
    Timkratz@firstclassfs.com
    www.firstclassfs.com

  13. BBC SPONSOR FirstClassFinancialSrvs's Avatar
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    #13
    Please give us a call if you are in the market for a new or used bass boat. We can finance boats up to 20 years old, terms go out to 240 months and 0% down is available with approved credit! We offer same day approvals so shoot us a call or email with any questions.
    We look forward to working with this great group of anglers!

    Tim Kratz, President
    First Class Financial Services
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  14. Member Jigworm73's Avatar
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    Fargo ND
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    #14
    Tim- do you guys do refinance loans? I’m in the process of doing a repower on my 06’ Ranger and looking for financing options.

  15. BBC SPONSOR FirstClassFinancialSrvs's Avatar
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    #15
    Hi Jigworm73,
    We have several banks that will do a refinance but the minimum amount to refinance will have to be 50k. You can always call us at 813-461-3888 and we can walk you through the process. Thanks!

    Tim Kratz
    Tim Kratz
    First Class Financial Services
    Office- 813-461-3888
    Cell- 973-960-9227
    Fax-866-583-2106
    Timkratz@firstclassfs.com
    www.firstclassfs.com