Underage boat owner?

DFdubTX · Newbie Joined: 21 Apr 2006 Posts: 7

Hey, my dad has a 2002 Seadoo Challenger 1800 and he won't give it up for a wakeboard boat. I am thinking about getting a late 1990's wakeboard boat but i'm not sure if minors are allowed to apply for a boat loan. I have a checking account and my dad is cool with it as long as he doesn't have to pay for anything. I could use all the help i can get. Thanks

revelation · Outlaw Joined: 06 Apr 2005 Posts: 213 City: Annapolis

It would be pretty difficult to have enough credit at your age for a bank to give you a loan for a boat. If you have been working at the same job for a long while and make decent money, then they might give you one if your dad co-signs the loan. Good luck.

ridininmd · Wakeboarder.Commie Joined: 16 Feb 2006 Posts: 1231

If you are under 18 you cannot sign a contract, so no boat loan, sorry have to wait a little longer

drifter36 · Addict Joined: 25 Aug 2003 Posts: 679 City: Fargo

no, like revalation said, the only way for you to get a loan under 18 is for somebody to co-sign, and im guessing since your dad DOES NOT want to pay for anything, he probably wont cosign anything because if you miss a payment the bank comes after him.

Chad H · Posted: Apr 22, 2006 4:28 pm Post subject:

If i were you, I would just save up, and then buy it and pay for it in cash. I'm in the midst of doing the same.

drifter36 · Addict Joined: 25 Aug 2003 Posts: 679 City: Fargo

thats what I did. saved up since the day i first wakeboarded, and now I finaly got one, and my wakeboarding days are probably numbered(do to injuries, and moving for a job once college is done Sad

)

pilot_ryder · Posted: Apr 22, 2006 7:25 pm Post subject:

just wait it out
and whine alot

DFdubTX · Newbie Joined: 21 Apr 2006 Posts: 7

Thanks for all the help. My dad will co-sign but the loan will take every penny of my money each month so I think i'll just save up like some of yall said to do.

WannabeSS · Posted: Apr 24, 2006 6:00 am Post subject:

Buy an older ski nautique or mastercraft. Im 19 and i just bought my boat yesterday. Its not gonna be the best looking boat on the water, but it kicks up a nice wake and is pretty good on gas for a wake boat.