Is there a hole in the market?

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Two dangers here. One is that the interest rate floats. The other is that if your investments fall below a certain threshold (which varies based upon what the investments are) you might get a margin call. At that point you either fire sell your boat or refinance it.

Wow, talk about hell on earth if things go wrong...."a boat you can't sell and an interest loan you can't stop...." Brings back memories of 2009.
 
What is the price range that you are searching. I have a 2002 Defever 49 listed for sale. It certainly meets the trawler definition, she is less than 20 years old and in great shape. Not sure on your budget though. Thank you. If interested, please private message me or email me. I do not appreciate unnecessary and inappropriate public comments by some parties ……
 
Newer trawlers too expensive

The wife and I are looking for a boat, we have been pre approved by a local lender. But the boat must be 25 years or newer, . While searching the usual places, I have come to notice, that "Trawlers" in this age range and price point are a rare thing. I can find all sorts of Bayliners, Silvertons, Carvers within this range. Am I missing something, are manufactures making fewer trawlers?

Look at Seapiper.com.
 
We recently paid off the boat and got our (legally improper, maybe even "illegal") state title in the mail on our federally documented boat. If I tried to explain federal boat documentation to a banker or DMV clerk around here they'd look at me like I'm babbling deliriously so it's just easier not to argue or explain. ANYWAY, if the world turns to heck it's a free-and-clear asset now, and my home mortgage rate is fixed too, so I'm insulated from at least some of that. Of course now we lose the second home interest tax deduction, but that was pretty tiny anyway and no reason to finance a boat in the first place.
 
Also true of most non-IRA brokerage accounts. The broker uses your assets as security and doesn't care what you use the money for as long as it's not to invest in other securities! Two dangers here. One is that the interest rate floats. The other is that if your investments fall below a certain threshold (which varies based upon what the investments are) you might get a margin call. At that point you either fire sell your boat or refinance it.

Side note. This kind of loan is business done between a broker and their client and is not reported to credit agencies. It does not impact your ratios.

This is not google search information btw. I am a fully licensed financial advisor for a well known brokerage firm. I have many clients that do this.

Tak

And, I'd say a wise financial advisor too! That's pretty obvious... cause... you own a Uniflite! Talk about an affordable great toy - Wow!! Fantastic classic boats! I had a 31' 1973 sedan Uni... I really love Tolly too. Another wonderful toy boat!!
 
What is the price range that you are searching. I have a 2002 Defever 49 listed for sale. It certainly meets the trawler definition, she is less than 20 years old and in great shape. Not sure on your budget though. Thank you. If interested, please private message me or email me. I do not appreciate unnecessary and inappropriate public comments by some parties ……
I am going to assume, that your in Maryland?
 
You are right. We did that. Best decision ever. Also we get to repay it without using inflated boat loan interest rates.
Bigger issue for older boats is finding marine insurance.
 
You are right. We did that. Best decision ever. Also we get to repay it without using inflated boat loan interest rates.
Bigger issue for older boats is finding marine insurance.
This is like the engine question. Whats your definition of an old boat?
 
Suggest you post in Classified Section of Forum

For all of you who have posted that you have boats for sale: Suggest you use the Classified section of the forum to your advantage! Lots of exposure, and no brokers allowed.

Trawler Forum Site Team
 

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