Wal:
A 'never, never loan' is a loan you never pay off......find your boat,
finance it, pay the 'interest only'.....that's a never, never loan.
Some sailors here got together, financed a new Beneteau 32, I think,
with a never, never loan, partied on it for a few years and then sold
it. Of course, they were on the hook for was the difference in the
initial purchase price and the selling price but for the time they
enjoyed the boat, they made no principal payments.
I didn't say never, never loans made financial sense!
Bob
On 2012/12/13 12:57 PM, Wally Bryant wrote:
What's a 'never never loan'? Somehow that reminds me of Mary Martin
playing Peter Pan...
Wal
you wrote:
find the boat you want and buy it with a 'never, never, loan'.
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