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  1. #11
    Join Date
    Nov 2009
    Location
    Annapolis, MD
    Posts
    183

    Default

    There is a large difference between asking price and actual value, Like my boat asking 5000, paid under 1k, be preped for low ball offers
    IT's just a boat - You need to love it!
    Caress Me down - 1991 Supra Sunsport

  2. #12
    Join Date
    Aug 2010
    Location
    NJ
    Posts
    1,393

    Default

    Quote Originally Posted by mlyoung83 View Post
    I wouldn't pay more than 5k for it, maybe even 4k tops. No bank in their right mind is going to finance that boat. And most people aren't going to spend 5k on a play toy in this economy.
    Good point. I generally consider it foolish to finance a toy, car, or any other relatively low dollar item. When considering boats and budget before buying my Saltare I was looking into a $10k loan to use towards a Prostar 205 or Sport Nautique instead of blowing through like $10-$15k at once. Even those newer all fiberglass boats no one wanted to finance, but two banks told me if I wanted either a new wake boat or less than 3 yrs old they would loan me as much as I wanted over whatever term I was comfortable with. Thought that was funny. Banks don't seem too interested in relatively small short term loans, only high dollar higher risk loans. I think that's what got them into the situation they're in.

    I ended up getting my Saltare for WAY less than those boats and paying cash. More room, bigger engine, fresh engine and floor/stringer repair, etc. and saved a lot of money. I think I made a good decision. No sense paying interest on a toy, cheaper in the long run.

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