Quote Originally Posted by wishniwasfishn View Post
I have a nice aluminum boat that I have been trying to sale since May, without any luck, and I really need to get rid of it, espically since I am no longer employed at the current time. What do you guys think about offering it to someone with no money down, and just taking over the payements, the payements are not much, I think about $125.00 monthly for the next 7 years? Is this a viable option, or do you guys have any other options on trying to get rid of it quick, because I would hate to get to the point where I cant afford it, and the bank have to take it back. Thanks for any help or suggestions you can give.
That's a good question. Personally with the market being the way it is right now - I'm surprised there's not more boats for sale at below market values. I think you would probably be better off selling the boat outright rather than someone taking over the payments even if you do take a bit of hit on the money side. If the bank takes the boat back I'm pretty sure it would effect your credit history and we've all heard how hard it is to get a loan these days. Anyway I hope this helps you out. Good Luck.