Ya take the good, ya take the bad, ya take ’em both and there you have…

…the facts of loans!!

The boat that I put in an offer on countered almost immediately…only $1000 less than their asking price, which was $42,000.  I offered $35,000…I know, kind of low, especially considering the quality of the boat.  It’s my first time, and my broker said why not…if they go for it, great!  If not, we’ll go back and forth.

Today I went to the bank, a local credit union in San Diego.  I like this bank a lot, but since it’s a credit union, they are rather conservative on unsecured personal loans, or luxury loans.  They do offer boat loans…for 2012 and newer…the boat I’m looking at is a 1989.  So I would have to apply for a personal loan.  I’ve been saving, but it’s not much, maybe 10% of the boat price.  I don’t make a lot of money, and I have a lot of student loan debt.  I’ve got one Bachelor’s and one associates degree, and I got them in the less popular backwards order.  This schooling is very costly, and has never helped me find a career which pays well enough to pay the loans off.  My loans actually go up every month even though I pay on time, and have for years.  It’s like I’m being punished for the rest of my life by enduring financial ruin as a result of trying to take the proper steps to avoid financial ruin for the rest of my life.  Quite the quandary.

This journey is at the “for real” part.  I’m so close to getting this boat, but right now it seems impossible.  The amount of money I’m asking for in a loan is peanuts compared to what people in this area need for a home.  Maybe this route won’t work out.  I also don’t want to have my broker working on finding me a boat if I can’t get a loan.  It’s a shame that my credit score is finally in good shape, only a few points away from excellent.  Anything with money is always a battle.   Renting just seems fruitless at this point in my life, and owning a home is out of the question.  A house in San Diego starts at about $400k…yikes.

One good thing though, I was just hired at an extremely high end restaurant in La Jolla.  Kind of ironic considering these people spend what I need for this boat in a weekend.  I can’t tell you how many Bentleys I saw today.  Hopefully this job will pay more, it’s a server position, so it’s always a little roll of the dice.  I’m excited.  I’ll need to brush up on my wine regions and varietals.

Tomorrow is another day.  Hope to see you all out on the water someday!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s