I agree with Geo and Catch. And there's another benefit to the buyer. He might get a lower interest rate buy just getting his own financing and buying the boat for the exact amount needed to close your loan. Rates are down. If the buyer can get a lower rate than what you had, he not only has the boat he wants, but also has a lower monthly payment.Originally Posted by kygorski
But by all means, don't eneter into any type deal without a full written release from the loan by your bank you owe money to now. Even very good freinds run into finance problems, and when they do, the boat payment gets paid after the house payment, car payment, and the food and utilitites.
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