How many year loan can you get on a Triton

[booneangler]

Just wondering if i go to a Triton dealer what would be the max years i can get a loan for. Im looking into getting a Triton but $35000 is a lot of money im just wondering how long you can get a loan for in years. Anyone know. If so please post up and tell me im gonna go look at some tomorrow. Thanks.

[Triton21]

A guy I know got a 15 year loan on a 21X like mine.

Kelley

[burleytog]

One thing to consider is if you like the idea of paying $50-60K for a $35K boat.   :-/

[booneangler]

Well how else are you gonna get a big nice Triton. I may just stick with Tracker boats cheeper and easier on fuel to.  ;D

[cart7t]

One thing to consider is if you like the idea of paying $50-60K for a $35K boat.   :-/

The worst part is 2 or 3 years down the road, should you have to sell it for some reason you'll owe more than what the boats worth after depreciation.

[bassboy1]

NEVER buy anything you cannot pay fully for.  Be it a truck, boat, TV, anything.   Except for maybe a house.  If that means you have to go for a little while more bank fishing, just go for it.  That way you are paying 35K for a 35K boat.  You can afford a lot more in your lifetime if you pay in full.  Credit cards are the worst scam.  You should have the money in hand before you buy.  Trust me on this.  

[Cajun1977]

if you wanna buy a new boat and can afford the payments then by all means go for it,    my boat cost me 27,000  and i got a loan for 5 years  but i beleive they offered to do uo to 9 years..    yeah used boats are cheaper and after you buy it the resale value is gonna be lower than what you owe.but its your hard earned money so enjoy.i like having a bran new boat, i didnt buy it to worry about selling it.   good luck with your purchase

[bob101]

I just financed a new Triton for 3 years...but they were offering up to 15 years.

There are lots of problems with financing it that long.

1. At no point in the loan will the boat be worth more than you still owe on it. The day you take it home you loose 20+% of the value. In 10 years your boat will be worth a LOT less than you still owe on it.

2. You'll pay approximately double the sales cost over the term of the loan.

I know it's old fashioned but what happened to either saving up or buying what you can afford....I had the cash for my boat, but my personal bank offered me a loan at the prime rate. Considering my investments overall make more than the interest they charge. I decided to pay 50% down on the boat. Finance the rest for 3 years and keep the 50% difference in investments that are semi liquid in case I need them and are currently beating the interest rate on the money they loaned me. Even if my return on my investments come way down I still consider it a wash because for those 3 years I'm keeping more money liquid than if I had paid 100% cash.

[Ifishthere4Iam]

A guy I know got a 15 year loan on a 21X like mine.

Kelley

There are only two things in this world that I would ever consider taking out a 15 year loan to finance.

1- My home

2- My daughter's college education

To me, no boat, car, or other toy is worth that much of my life.

I fish out of a 1977 16 ft. sea nymph, and I'm just as happy as the guy in the $35K Triton. I catch as many, or more fish than many of the guys in the high $ boats, and I don't have a payment that follows me around for 12 months/year.

[jdw174]

There's nothing wrong with financing a boat, but 15 years is ridiculous to even consider IMO :-?  I wouldn't want to finance the whole 35K, but with a decent down payment you could take the loan for 3-4 years.  On a new rig, if you decide to get rid of it before you've had it 5 years, you're most likely going to take a bath.  If you spill a glass of water on it in the showroom the value probably drops by 5K...

[cart7t]

Buy used and let someone else pay the depreciation.

There are a ton of boats out there for sale that are like new and yet selling for 25-40% less than a new boat.

[ThomasL]

I want to see the fool that finances a boat for 15 years unless its a yacht

that he or she lives on...

If married they won't be for very long...

I went to pick up a motor cover saturday and looked at rangers in the 50-60 thousand

range,i guess if you have it you might as well spend it you can't take it with you but

i for one don't have it to spend on a boat that will loose 25% of its value when

you take it off the lot,land is alot wiser investment,they don't make it anymore

and whats out there is being eat up by !@#$%subdivisions and apartment complexes

everyday but thats another issue,so

NO DON"T DO IT!!!!!! ;D ;D ;D

[RobDar]

a fifteen year loan on a boat????

I cannot imagine wanting a boat bad enough for that. I agree with the folks who said be careful with financing...

I have been widdling down my boat choices for two years now...and if I go NEW...I will likely have to finance some part of it, but will wait until I have at least half as a down payment...and will finance for the shortest possible/affordable term. Finacing is dangerous and should be avioded/minimized when ever possible. I would also wait until that magical time when a new model year is released and dealers have last years models to get rid of...save a few bucks that way.

as far as USED goes...I just had a great conversation with a guy in our tourney club who thinks alot like me. He boat shopped for three years...watched the adds, ebay, Iboats...all the places that sold boats...waiting patiently for that one boat he just had to have. He ended up with a 1990 Ranger and this boat looks showroom new! It is this gorgeous little time capsule of a boat that was owned by an old man who fished now and again and took FABULOUS care of his boat. He had it professionally detailed every fall before closing it up...was always stored indoors...he said the boat never even saw rain and I would believe it.

Buying a boat is one situation where patience is definately a virtue.

[Way2slow]

Last year I was killing time looking at the new Stratos boats and they had payment plans that were for seven to ten years. I know one of the salesman and asked him if people really financed those things for 10 years. He said about 80% of the big boats they sold were on the 10 year plans. He said there were dealers that did 15 year plans but they didn't at the time but were considering them. So, that tells me there are a whole lot more of them fools out there than will admit it.

Me, I'll stick with my repo's I buy at auction from those fools that buy them on those plans and can't pay for them. Usually what happens is the warrenty runs out, they have a major engine breakdown, can't afford to have it repaired and lets it go back. I buy a five/six year old $15,000 - $20,000 boat for $5,000 - $6000, spend about a $1,000 - $1,500 fixing it and have a nice boat that's paid for.

Over the past couple of years I've made about $30,000 doing this and have my boat paid for so I kinda like those long term finance plans.

[booneangler]

I think im gonna go get me a Tracker Pro Team 175 cheaper and a hole lot easier on Gas. It fishes just the same as a Triton would.

[.Paxamus.]

pseshooter300,

Figure out a budget and then find the boat you want that fits into that budget.  I know alot of guys are saying don't finance and tht is great if it works for you.  It did not work for me though, we are about to start a family I figured out a budget for how much I get paid per month, minus all bills then broke that out into a per week average and when it boiled down I could afford a new boat if I financed for more years.  You work hard for your money get what you want within reason.  I even showed my wife the budget and she agreed.  I went back and forth for a long time about what brand, new v used, and everything.  I ended up with a TR 186 Triton and I love it, hell even my wife loves it.  So my advice would be figure a monthly payment that you are comfortable with and go for it, however know that you will pay more in the long run if you pay the minimum payments.  Sorry for the length.

PS.

They will finance for 15 yrs on 25k and up.

[IneedAnewScreenName9886691]

It is a lart harder to get "upside down" if you buy a used boat.  That way if you ever have to sell you won't get hurt too bad.  You can still buy a darn nice used boat!  buy a 2003, 2004 in great condition.  I think you will be better off.  

Just my .02

[booneangler]

I agree on the used boat you can get good deals on them and yes i have been looking at used. But you really dont know how hard they was ran and anything like that you can look at the hours on them and look at the over all condition of the outside of the boat but was the boat ran really hard. I dont know im still looking my buddy bought a pro team 175 and he said his payment was 168 a month for five years. I will keep looking around.

[bob101]

Since you said at first a Triton did you look at the Triton aluminum boats while there? When I said I just bought an '07 Triton I bought a Triton Aluminum boat.

Just something to think about.

[flyphisher #]

I agree look at the 2003-2005 models. There are boat dealerships with alot of them that will finance them. A place north of here has payments advertised as low as $200 a month on a $20000 boat. I wouldnt go that low personally but its alot more doable than a $50000 boat for 15yrs. There are alot better boats than a tracker between what you are looking at spending....Look at G3,Express, and Triton aluminum before you buy a tracker..... I think the depreciation on a new truck,car or boat is more than 20% when you drive it off the lot.....Never buy a new truck or boat...

[bob101]

Know what's really sad? Tracker advertises it's 175TXW in magazines for $12,995 +prep and freight and gives a monthly price in the ad for 15 months with 0% down....

[booneangler]

Why arent tracker boats good. Whats wrong with them.

[michbass]

When I got my ranger the offered up to 15 years   It would almost have doubled the price of the boat (with interest) and would have made it impossible to ever break even.  I ended up going 6 years and put more down so I could get a could payment in my under 400 and not pay on it forever. I was looking used though and found an 05 left over new with what I wanted and the dealed on it otherwise I would have went used. I would be scared of the long term boat deals out there.

[booneangler]

Im gonna keep looking i dont think i wanna go with a 15 year loan thought thats a long time.

[Jeff_NHBA]

While you're working out your budget, don't forget to add in extra gas and oil expenses.  Plus, you'll need the USCG mandated safety / signaling gear, lines, anchor, etc.  Try to work in the "hidden costs" as best you can.

I bought used since I couldn't see paying that much for something that isn't an investment.  It's definitely an expense.  Just make sure everything works and you are comfortable with the deal.  You don't have to rush into a deal as it should be a buyers market right now.

Enjoy the hunt.  I hope you find what you want.

S