| Before you go out and purchase your boat, | | | | repairs if your boat requires them. |
| remember that boating is a hobby and you | | | | When buying a boat, used or new, cash is always |
| shouldn't go overboard with it. Unlike your house, | | | | better than financing. You can save money with |
| boating isn't really worth going into debt for. First | | | | cash, as there are no finance charges. Financing |
| time buyers who aren't sure about boating should | | | | charges can get high, very high in fact if you don't |
| always make sure they spend well within their | | | | know a lot about it. |
| budget. | | | | If you simply must finance your purchase, it's a |
| To get the most out of your boat, it's always a | | | | smart idea to use a home equity loan instead. |
| better idea to scrape up your recreational dollars, | | | | This way, it'll be tax deductible. Always be on the |
| sell a few of your belongings, and simply save up | | | | lookout for boat show financing, and never, ever |
| for a while. In the meantime, you should carefully | | | | use it. Several boat show financing ploys will |
| study the boating market. When you manage to | | | | extend the loan out over the course of 10 - 15 |
| save up 3,500 - 25,000 dollars, go ahead and buy | | | | years. |
| the boat you want. | | | | A new boater will either advance with boating or |
| Whatever you do, make sure you don't spend all | | | | get out of it all together. Most boaters don't keep |
| of your money on the just the boat itself. When | | | | their boat for more than 10 years, which is |
| you purchase the boat, you'll need to have | | | | reason enough not to get an extended finance |
| enough money for taxes, registration, storage, | | | | loan on your boat. |
| towing insurance, gas, equipment, and even minor | | | | |