Contour Enthusiasts Group Archives Forums General Common Interests Question about fun loans?

Hey guys, I am going to be buying a sea-doo jet boat. I have a question about loans. Can I take a personal consumer loan out for this boat? The loan amount will be less than 4,000. I also noticed they do have boat loans as well. Any reason why I shouldnt just go personal loan to get a lower interest rate? Any info would be helpful.

Thanks

I would go with whatever interest rate is cheaper. And if you take out a loan with the boat as collateral, you might have to insure it. On another subject, which model is it? I work at a Seadoo dealership. Make sure it's been properly maintained as I'm assuming it's a two stroke. If you don't winterize them, you get low compression and possibly lead to a blown motor. Let me know if I can answer any questions you have about it.

96 speedster.... Wow thats sweet you work there. I can also get a 97 speedster. It has another seat in it which is cool.The 96 has rebuilt engines which is cool but he wants 5k for it....I drove it and it was nice. There is a 97 speedster in Miami for 4,500 which looks sweet so I may need to drive down to drive it. But I am worried about salt water damage...any hints?

Definately make sure the engine has been flushed out if they are using it in salt water. It's not a one time thing, but something that should be done alot if using in salt water. If the 96 has rebuilt engines, ask who did the work and how were they rebuilt. Did he just replace pistons and rings or get a whole shortblock? Also, if you don't know what to look for, take it to a reputable shop to have them check it out. Things like this may seem like a good deal, but parts and labor to fix them can be expensive.

The left engine was replaced 3 months ago...whole new shortblock and his friend who is awesome with them rebuilt it. He does a lot of work on them. He mentioned that he leaned the mixture out a little to make it more reliable but he said it is a little slower than stock because of it. The other engine was just rebuilt 8 months ago with new internals I think. They started right up with no problem at all. The left tach doesnt work...its stuck at 7 or something. The speedo spinner thing has a small peg broken off and thats it. Other than that it moves well. I did do a spin and the right engine stalled about 30 seconds after I did it. It restarted right away though when I hit the starter. He just told me that it stalled the engine because it sucked water back in to it??? How much better is the 2.5 merc then the rotax?

Personal loans generally have a higher interest rate than a loan with colateral. I have purchased two 4-wheelers and got recreational vehicle loans that were similar interest rates to the new car rates at the time. The only possible down side with a colateral loan is that you are required to have insurance for the vehicle.

Right now, if I wer elooking to buy something like that, I would use a low interest credit card check. Got some in the mail yesterday for 3.9% until that balance is paid in full. Supposed to be for balance transfers from other credit cards, but they are checks and can be used any way you choose.