Thursday, January 22, 2009

Possible Boat Slipping Away

Stupid economy.

This guy is selling a 1983 Catalina 25 for about $6000. I went to look at it on Saturday down at the Washington Sailing Marina. The slip, in which there is a wait list for over a year, conveys with the boat. The boat itself was used once or twice weekly for racing and is pretty good shape for being as old as it is. The rigging is in great condition, the inside needs a bit of work but not much and it could be cruising.

In the grand scheme of things $6000 is not a lot of money but heck if I can shake the money tree hard enough to get it. I've applied at quite a few lenders and I'm getting denied mainly because of the age of the boat and the requested amount is too low. Too low! What is up with that?

So I tried for a personal loan. Well, this is where being self-employed kicks me in the ass because they want your life history before they will even maybe possibly consider you, and even then the hurdle to jump is set so high right now you need almost perfect credit to jump it.

Actually, as much as it pains me to say it, it might not be a bad thing to miss this opportunity. I certainly have my hands full with school and contracting, and there is always charting.

Does that rational sound as hollow to you as it does to me? ;)


Kirsten said...

Maybe there is a better boat awaiting you in the future....charter away in the meantime! :)

Ryan said...

You know, while that is true, I think long term if I had the money to put up now it would be less overall than chartering. Assuming I'm able to pull it off as much as I want, of course. :)