Boat Paid Off!!
- Thread starter Fish_whistle_express
- Start date
Foxsea
Well-Known Member
Well, you do have a point. I see boats at our marina and at others that are bordering on derelict - torn tarps flapping and green slime covering the decks and dribbling down the top sides. Outboards and sterndrives covered in barnacles and trailing growth. If that's your idea of boating, buddy get a new hobby.
Foxsea
Well-Known Member
I don't finance stuff anymore, now that I'm retired but borrowed money is cheap today. If you buy a well-maintained older boat they don't depreciate much and you get a ton of enjoyment as your return on investment. People finance cars and RV's so why not a boat? Just keep payments affordable because boats do need regular maintenance and upkeep.
Totally unexpected
Well-Known Member
B.O.A.T= Bring out another thousand!!! Love my boat even though there's alot of Bayliner haters I fell butt backwards into a beautiful cruiser/fisher for a measly $500 yeah thats right not a typo...we've put thousands into her to make her ours but mostly cosmetic besides the new trailer.Im fortunate that im able to do almost all the work myself. So like most boat owners you never really finish paying them off but it always brings me joy whenever sh
e touches the water...
e touches the water...
walleyes
Crew Member
Yup people don’t batt an eye this day and age at someone dropping $100,000 on a vehicle. Tell someone you paid $100,000 for your boat they just about ****. I go through a new truck every 5 years, my boat I’ll have for 20 plus if I so decide.
kingblazer84
Well-Known Member
and people love to make payments! we see it everday in the automotive repair world who wants to spend a 1000$ on their car for brakes when they can go down the road and pay 300$ a month for 7 years lol
brutus
Well-Known Member
Add the same boat at one point, did the job for 6 years
wildmanyeah
Crew Member
I had a car dealership refuse to negotiate in terms of the total cost of a car they just kept on saying well what do you want your monthly payments to be.
They were using the 4 square technique on you.
https://www.consumerreports.org/con...ff-with-the-four-square-heres-how-to-beat-it/
Buying a car can be a long and tedious process.
wildmanyeah
Crew Member
haha I know they get really upset about it too when you walk
Foxsea
Well-Known Member
The last new car we bought was no stress for me. I walked into three dealerships and asked at each one if they had a new Honda Accord Touring, in white. They all said yes. Great, I said, I have a bank draft ready. I'd like to purchase one right now. I showed the draft to the salesmen. "I can put your dealership's name on the draft or someone else's." They all said they didn't think they could do it. Of course, each one had to ask his manager. We quickly got to no at the first one. I didn't want any add-ons. The second dealership was much the same but they said I'd need to come up with an additional $2000 to make the deal. Move on. At the third one, the manager eventually came in and with a smile said "We have 3 white Accord Touring on the lot. Show me $800 more and the one you would like to drive away in." We settled at $600 more. It was fun dealing with a professional. Some will, some won't. So what?
Saxe Point
Well-Known Member
I don’t batt an eye at someone dropping $100,000 on a vehicle, I just fall out of my chair. To me, that’s a crazy amount of money to spend on a vehicle unless you use it to make money. Rapid depreciation, operating costs and maintenance on top! That’s an indulgence reserved for the really wealthy.
Foxsea
Well-Known Member
Any nice, full size, heavy duty, diesel pick up truck is around $100,000 now. My last truck was one of those and I'm not wealthy. It's what you need if you tow an RV or a larger boat. Once the kids are gone and the house is paid off, why not? It's what we worked for!
wildmanyeah
Crew Member
haha that’s why I took out a mortgage I figured it was better to live in my house now and enjoy it rather the buying one before I die lol
Slabbedout
Well-Known Member
I am dealing with that right now. I saved religiously for 15 plus years and had various boats with the intention of some day getting a hard top welded boat with new power, trailer and all fresh electronics. If I had of just done it back then I would probably still have the boat, had a ton of great times and not spent money on boats that where less than desirable.
It’s funny I have always said” I hate boats, if I didn’t like going out and catching fish on them I would never own one “
SpringFever552
Well-Known Member
Buy something you can afford to get you out on the water, then save and upgrade when you know exactly what you want after time on the water..plus life happens, kids and water sports, I had the property to store and had 2 (3 if I include the tinny) boats, (1 ski and 1 fishing )at same time for awhile when they were growing up, sold both to buy the 552 Campion SUV type boat, then kids grow up and move out, upgade again to be more comfortable on water, all while saving to do so..
Had interest rates been at record lows I probably would have done things a bit differently, still would have done the gradual steps in boats but maybe a bit sooner
Each to their own, life is short, do whats right for you
Edit...my boats have all been bought used
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SpringFever552
Well-Known Member
Yup...if your a working stiff like most IMO you'll never really get ahead buying new.
kingblazer84
Well-Known Member
I bought my boat 6 years ago for $3500 and upgraded some small things like riggers and sounder and also built some stuff on it, it doesnt owe me a dime! and now with the price of boats going up ill easily make double! then put that towards the next ride or ill upgrade what I have for 5-7k and run what I brung and enjoy it without breaking my bank!
I don't get all these thirty year olds with the big trucks and beautiful boats. Maybe they think there is no tomorrow. However with the state of things, I doubt I'd be any further behind now, financially if I'd of taken the plunge 30 years ago. At least I'd of had a boat. Who knows?
