Should I finance a used boat purchase with my 0% interest rate credit card or get a loan from a bank at 10%?

I am contemplating purchasing a used boat which is over 15 years old. I am looking at the best way to finance this purchase and need some input. The only loan I have is a student loan for $4K and the only credit card I have has a balance of $11K with 0% interest for the next 6 months, and then a 8% rate after that. I have a few other credit cards which send me access checks with 0% fee and interest for one year that I could use to finance the boat. I would use $11K in an access check to finance the boat at 0% interest on a second credit card which would increase my credit card debt to $22K with 0 interest for awhile and then 8% on both eventually. However, I believe I can pay off these cards before any interest kicks in. The second option is to get a boat or personal loan for the $11K and pay about 10% interest. I would intend to pay the loan as quickly as possible as well. My question is, should I finance the boat using $11K of credit card at 0% interest or get a bank loan?

I did the credit card thing on my used car...my rate was 4.9%...it was cheaper tjhan a used car loan. Consider this make sure your rate is not a variable rate and make sure you are never late on payments because your interest rate can go up to 30% with one late payment! remember you can alwys do a balance transfer if you get a better credit card offer in the mail!

First of all let me start off by saying that I am 17 and will be 18 next month. So heres the story.Me and a friend are wanting to go in together and get a boat. The cost of this boat is $9000.00. We were going to put $1000.00 down each and pay the rest off over 3 years. My dad was going to do the financing until my mom got involved and decided it was to "Dangerous" which she never does. So my Dad told me I would have to come up with the money some other way. He told me he wouldnt co-sign for me and I also asked the guy if he would be interested in carrying the note. He isnt. The payments arent a problem. My problem is trying to find out how I can get financing at my age and no credit record. The guy that has the boat is suppose to be taking us out next week so we can purchase it. What can I do to get a loan for this boat at my age?

Thanks.

You're not gonna wanna hear this, but going in on such a shared purchase with a friend is a BAD idea.

I am 28 years old & just bought a $400,000 house three months ago. My credit score is around 700. I make about $90,000/year @ have no bills other than normal living expenses. I was denied a low interest loan for a used boat I was looking at ($12,000 Sea Doo Speedster) . . I was wondering if the house purchase 'screwed up' my credit (short term) . . . or if boat loans are hard to get compared to a house?. . . . any help/ideas from everyone would be nice. Thank you for reading/helping me with this. Its hot in Southern California right now & I wanna be on the water.

Chances are, if the bank turned you down, you don't really NEED a $12,000 boat, even if it is used. Save up some cash and buy a less expensive one without a loan. That way, you get to enjoy it INTEREST-FREE!

And believe me, a boat is a giant hole in the water (whirlpool) that will suck all your available cash - my husband's boat does, so I'm glad we're not making a payment on it, too!

I have recetly taken over as office manager of a boat dealership.how do i setup for in house financing?

We are trying to setup in house F & I at our boat dealership, but I am somewhat new to financing.how do I start?

Start calling banks to see if they finance boats. Also call on the manufacturers to see if they do in-house lending. You could also ask your colleagues at other boat shops, provided your industry shares that information.

Harold Simmons, the accused forger and nuclear waste dumper contributed $3 Million to finance McCain's Ayer swiftboat attack. Mr Simmons financed the Kerry swiftboat attack campaign so he knows something about smears. The Kerry swiftboaters were found to be totally false but not in time to save Kerry's campaign so we got Bush. Simmons would probably like to ingratiate himself to McCain as someone is going to be getting those nuclear waste contracts from all the nuclear power plants that McCain wants to build. You can read about Mr Simmons here:

http://www.buzzflash.com/articles/analysis/365

It's good to know who serving the fear koolaid, eh?


Looks like that site is down or blocked. Here is the LA TImes link

http://www.latimes.com/news/politics/la ... 0525.story
James:
Like the swiftboaters you defend you fail to provide source information. I'm sure someone told you all this but it is unsubstantiated bunk.

I was unable to connect to your link; but, it is important to know who is behind attack campaigns. I have no doubt that the people trying to spear Obama are among the most foul of us. Hopefully, once bitten, twice shy.

Obama 2008