1st bass boat puchase

[mnfishing66]

Been thinking about getting a bass boat (18-21ft) lately and want some feedback regarding what to expect and look out for since this is my 1st boat purchase. 

Are usually boat and trailer fees included in financing or out of pocket expense after the purchase? 

Anything to look out for. Did you regret getting a smaller boat because of budget and cost wishing you would of just gone with the bigger/nicer one that was more but still affordable to you?

Also financing wise what did you put down to get a boat loan? I have about a 750 credit score and is that consider good enough to get a boat loan? I would like to put minimal down payment if anything. Did anyone else in similar situation got a boat loan with a small down payment or no down payment?

Any info will help. Thanks

[ethan-333]

750 credit score is good enough to get any loan at about the best rate BUT it really depends on your annual income and debt to income ratio to determine if your a high risk or not. i know a guy thats disabled and his credit score is around 720 but his annual income is to low due to disability. for a big loan

good luck tho

and when you go for the loan. they usually make sure you have enough to get it licensed and transferred. sometimes theyll even write a seperate check out of your loan just for that reason

the bigger down payment you put the higher the chances of a loan will be in most cases.

and id say anything from 18 to 21 should be good for most lakes. id like a 20 or 21 ideally for giant lakes. but 19 for all around would be fine IMO

[Junebugman]

If you're going to get a loan I would get the best accessories ie bigger trolling motor a big enough main motor so you won't have to buy another in a few years I had a 18.5 ft skeeter that I could kick myself for selling but had it maxed for a motor etc if its used have a reputable marina check it out first! Good luck! Junebugman

[Caia326]

I recently purchased a new boat and had it financed. I went with a Tracker Pro Team 175TXW so I can only speak from my experience with going through Tracker.

I was required to put 10% down regardless of my credit. The tag, registration, etc.. was all wrapped up in my deal so I had no out of pocked with the exception of the down payment and boat insurance down payment. I do regret not upgrading to the best trolling motor I could get but the one that came with it works for now. I would say get the best that you can comfortably afford. 

[mnfishing66]

As far as buying a boat in your experience is there any wiggle room regarding the price of the boat or them putting a free upgrade of equipment to earn your business?

[slonezp]

6 hours ago, mnfishing66 said:

As far as buying a boat in your experience is there any wiggle room regarding the price of the boat or them putting a free upgrade of equipment to earn your business?

There's always wiggle room and pitting dealers against each other can work in your favor. 20% down should get you an interest rate in the mid to high 3's with your credit score. I wouldn't pay more than 4%. Electronics can be purchased cheaper online. You will pay msrp at the dealer

As far as what boat to get. Base your purchase on where and how you fish. Bigger water=bigger boat. Tournaments=storage, large fishing platform, bigger motor. Weekend warrior, you can probably get away less. Smaller boats are easier to trailer, launch, and maneuver in tight marinas. Smaller boats require a smaller tow vehicle and in many cases have less expensive operating costs.

Good luck 

[Further North]

Think hard about how you are going to fish - and tailor your boat to that.  I fish a lot of smaller lakes where getting anything bigger than an 18 ft. on them would be either a pain or impossible.

I also prefer to buy used...I was talking to a friend tonight (we're re-rigging all of his electronics) and another friend of ours has a boat he paid $55K+ for brand new a couple years ago...another guy we know went and looked at one used, one year older, for $27K...My head just can't get wrapped round taking that kind of a beating unless I'm planning on keeping it forever.

On 4/13/2016 at 8:13 PM, slonezp said:

Electronics can be purchased cheaper online. You will pay msrp at the dealer

This is correct...but unless you've got cash to plunk down, it'll be hard to get the loan written to cover the electronics.

[GTHenson]

Check out the new Nitro Z19, they are awesome boats and are very reasonably priced for what you are getting, and if you are going to finance a boat, go ahead and get some Power-Poles to go on it and finance them with the boat. You will not regret the purchase. You should be in the clear on getting the loan, depending on your dti and your salary, but this is where stuff gets real, before you make this purchase think things through very carefully. Not just your credit score, but your needs and what you will be left with after paying a boat payment every month. Don't put yourself in a huge hole just to have a new bigger boat, I wanted a z9 so bad when I was 19 but I couldn't afford it, so I got a z7 instead, I've been through 3 Nitros since then a Z9 and 2 Z8's and in 2 months I'll be getting a new Z21 now the bigger ones spoiled me yes, but I do not regret one piece of my Z7 purchase (other than not getting power poles on it), it did anything and everything I needed it to do without question. Good luck, and I hope you get what you are looking for.