I am looking for a second hand boat in a good shape. Basically that would mean a boat which has no major repair work done on the vessel on the engine is in a good shape. Being a Automobile engineer I can very well take care of the engine part. I ll just have to look in to the vessel carefully.

Last time I went to the boat dealer for something like this was more than a year ago when I had to purchase a mid sized boat for one of my dear friends. I was amazed at the quality of the work done to conceal the repair of the vessel. Only an expert could make it out. That makes buying a boat from a dealer a risky business unless you know what you want and what you are doing. Have to be careful at that. He finally managed to get a good one at a reasonable price, he is happy with it, the boat is serving him well with no major expenses.

I had a loan against property or a mortgage on the fixed rate basis at a 20 year term. Half way through the loan now. As we all know economy is going on a low, there will be less jobs, layoffs will be common, this makes it hard to keep up with all the fixed expenses you have especially when you are directly affected by the slowdown. I am retired but one of my kids is having a problem with his job. So have to cut down on my expenses and help him out. I guess worse times are coming ahead with respect to the economy and whole world would be affected in some way.

Taking a loan on a fixed term can be an expensive decision in this situation. You can not change the rates much while the fluctuating rate has gone down as a result of rate cut by the banks to increase borrowing and spending. This makes fluctuating rates as a better choice. I am paying more because I choose the other one.