Financing on Downeaster General Forum Forums

I don't know.. I know that the previous owner of my boat financed the boat about 6 years ago, but I think it was owner financed and she paid the previous owners monthly. I would check at different banks and credit unions and see what they have to say at least.

I purchased my last boat with a credit card. If you have enough credit on credit cards and a ok long term interest rate you could do that. Help the owners setup up a square.com account and then use that to to a straight purchase with the credit cards. It will cost you or them depending on your agreement with the seller a 2.75% transaction fee for the credit card and then you will pay whatever your interest rate is on the credit card/cards as you pay it back. You will probably have to notify the credit card company that your going to do a large transaction on your card it you do this as out of the blue large transactions tend to raise flags and they will stop the transaction till they talk to you and make sure it is you doing it.

Who have your tried so far?

 Just  a note. I do not recommend using credit to purchase a boat with. I have done it in the past and though I enjoyed the boat, I was tied down paying for it for years. This boat I saved up and paid for it in cash. It's a nice feeling not owing any money on it.

anyways that's my nickels worth... that and another 1.95 might buy you a cup of coffee 🙂

Make sure you do a good survey.

We got a great deal on our DE but are having to spend what I estimate will be in the neighbourhood of 20,000 to 25,000 in refurbishing her. Some of that is just stuff we want, however I would estimate 10,000 of it to be stuff needed. If we had another 15,000 to spend we might actually be able to flesh out our wish list :). So we got the great deal because she needed a lot of work. She had been sitting not used for about 5 years before the owner before us bought her. That owner used her and did a lot of work but just didn't have the time or money to get ahead with her.  It has ended up being a lot more work and repairs than I had thought it would be and I had sailed on the boat for years as crew. I thought that I knew all that was wrong with the boat. I had no clue..... 🙁

However I will say that though she needs a lot of work still we love her and stay on her often. Actually we are on her now and are nice and cozy down below listening to the 25 degree F wind howl outside. We are sitting at the dock and the boat is still rocking back and forth. I would estimate we are getting 30 to 40 knot gusts at least.

🙂 got to love the catalytic propane heater.

Scott