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.
2006-06-30 06:19:43 · 1 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
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!
2006-06-30 14:03:10 · answer #1 · answered by homeschoolmom 5 · 0⤊ 2⤋