My father would not approve that I get a boat loan - but my priorities are different
As a young boy my father would take me out on a boat - on loan from his company - we could not afford a boat.
Those were memorable times. He would never have considered a boat loan. However, times have changed, and so have priorities. Now the son is looking to a boat loan to fulfill his sailing passion.
Now it is true, that my dad would loan a boat from his shop - he in fact was a superb power boat builder. But he would never, ever purchase an item on credit unless it was a house. Even his first car, was paid cash. A car loan did not fit his value system. Ironic, that he did not intend to teach me a different financial model. If you want it, consider buying it on credit. Thus the boat loan.
Well, in the final chapter of it all, my dad did impact my view of credit and loans. No, I am still considering a boat loan to cure my sailing woes. But at least I am looking for a boat loan with the lowest interest - and will find the best rate available. That counts for something, right?
And he will be beaming with pride when I invite him out on my boat. Once we leave the dock and the wind fills the sails, he will not give a rip, that his son is now taking him out on boat - purchased on credit - the boat loan
Paul Mark
June 2002
BILO Media
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