Financing a new boat

[Radar]

this! Plenty of good $4k boats out there!




:d

[ATTACH]954140[/ATTACH]

[ATTACH]954141[/ATTACH]

I bought this one for 2250.00 off the TBH classified, I put about 900.00 in it. Got it a few weeks ago. Its good enough to run up and down the river in, fly fishing and what not.

[gingib]

Don't do it!!!!

Boats make you no money, depreciate, and are toys.

Pay cash or don't buy it

[gingib]

This board must be full of millionaires.......I had no idea. My last boat was $60,000 USED. Yeah let me just go pull $60K out of my savings for absolutely NO reason because someone said “pay cash 100% or don’t buy it”. What a load of horse fecal.

Which is why you live on plastic and will never get ahead

[Trevor73402]

Which is why you live on plastic and will never get ahead

Are you referring to me? I have zero credit card debt, my home is paid for/zero mortgage, I own 200 acres of land that I owe zero $$ on, I own 2 brand new 2018 vehicles that owe less than $29K on total combined for both.....and at 1.5% interest rate, I’ll gladly use their money. I won’t even go into investments, liquid assets, etc..... I’m 38yrs old btw....

So.....what were you saying about not getting ahead?

[Traildust]

[ATTACH]954140[/ATTACH]

[ATTACH]954141[/ATTACH]

I bought this one for 2250.00 off the TBH classified, I put about 900.00 in it. Got it a few weeks ago. Its good enough to run up and down the river in, fly fishing and what not.

Thats a great boat....but not what the OP is looking for. I started looking a few months back for almost the same criteria as the OP. I haven't found anything under $15K that I would consider owning. I don't want to have to work on them every time I use it.

[Radar]

Thats a great boat....but not what the OP is looking for. I started looking a few months back for almost the same criteria as the OP. I haven't found anything under $15K that I would consider owning. I don't want to have to work on them every time I use it.

Point being that you can find a good boat for a good price if you aint to picky.

[jmac24]

I have been in banking for about 30 years and there is a little saying, "If it Floats, Flies or F***s, you are better off renting it or leasing it than buying it!!

[austinmike]

Thanks for the help guys....I think I’ll just get a used boat and pay it cash

[FlightCancelled]

Life is short buy the &%$# boat!!!!

[abilliott]

Which is why you live on plastic and will never get ahead

Since you give such good money advice I feel obligated to give you a little bit of advice on courtesy.

That statement was very out of line and not very adult like to make such blanket accusations about someone else. We all have difference pocketbooks and circumstances but one thing we all can do no matter what our money situation is be polite.

[skinsfan]

Are you referring to me? I have zero credit card debt, my home is paid for/zero mortgage, I own 200 acres of land that I owe zero $$ on, I own 2 brand new 2018 vehicles that owe less than $29K on total combined for both.....and at 1.5% interest rate, I’ll gladly use their money. I won’t even go into investments, liquid assets, etc..... I’m 38yrs old btw....

So.....what were you saying about not getting ahead?

Give this guy a round of applause! Just broke it all down for strangers on the internet!

[mjhaverkamp]

This has been an interesting thread to say the least, if I followed some of the advice here I would not have a pot to **** in or a window to throw it out, lol. BTW I have owned 16 brand new boats, about half of them had some financing, never more than 18 months.

[ctom87]

I know better than that. I just wanted to hear what he had to say. Reminds me of the day I took out my truck loan and mentioned I planned to pay off a 3 year note in 1.5 years. Mr. Banker said that wasn't a good idea because you want longer credit history.

I paid off my student loans in 23 months, not 10 years, and took a 20 point hit on my credit. Since recovered, but was amazed I was being "punished" for good monetary decisions.

[Colonel_Reb]

I paid off my student loans in 23 months, not 10 years, and took a 20 point hit on my credit. Since recovered, but was amazed I was being "punished" for good monetary decisions.

Good on you for the discipline. If that happens to me I will gladly take the credit score hit to have no debt.

[Tequilazo]

You can go on a lot of guided fishing trips without financing or interest payments.... A LOT