How should I finance a boat?

[Bilgamesh]

Re: How should I finance a boat?

I suppose a less wordy way of putting the 'debt is cool' mantra is this:

In 2002, per the US Census, more than 17% of Americans over 18 were worth less than nothing.

I'll let that sink in for a while.

Definitely got that old sinking feeling from that stat...

Good one!

 

[skargo]

Re: How should I finance a boat?

I suppose a less wordy way of putting the 'debt is cool' mantra is this:

In 2002, per the US Census, more than 17% of Americans over 18 were worth less than nothing.

I'll let that sink in for a while.

Scary

 

[krebs883]

Re: How should I finance a boat?

Edit: "Watch it! Read the rules." - QC

Back to the OP, buy/finance what you can afford. I am a firm believer in if you have a chunk of cash you can put down on it, put it down and finance the rest it makes it harder to let the bank take it back like so many people are doing, houses, cars, boats ect.... It's time people take responsibility in their spending habits as well as time the banks don't try to sale you a loan you can't afford. Yes, I said sale. They too are competing for your business. What one bank won't do some other one will. That is one reason why we are in the economic mess we are in right now.

 

[H8tank]

Re: How should I finance a boat?

you financed your truck twice. how much negative equity do you have in it?

It's called cash flow baby.

It's paid for now, besides, Chevy's are worth their weight in GOLD! I too am self employed, and have been close enough to death enough times to know one thing... live today. You might be dead tomorrow.

My last boat I owned for 15 years, paid $4k originally. I spent an amazing amount of my personal time and MONEY fixing it... I spent way more money trying to keep it floating than enjoying it.

Now? Make sure it has gas, keep the battery's charged, and have fun.

 

[jmarty10]

Re: How should I finance a boat?

H8tank - speak the truth!!!!

 

[boostnm3]

Re: How should I finance a boat?

It's called cash flow baby.

It's paid for now, besides, Chevy's are worth their weight in GOLD! I too am self employed, and have been close enough to death enough times to know one thing... live today. You might be dead tomorrow.

My last boat I owned for 15 years, paid $4k originally. I spent an amazing amount of my personal time and MONEY fixing it... I spent way more money trying to keep it floating than enjoying it.

Now? Make sure it has gas, keep the battery's charged, and have fun.

You must have bought a junker. Also, yeah life is short, but i would hate to make my kids life hell because of the debt i incurred over my life living by your motto "live today, you might die tomorrow".

 

[skargo]

Re: How should I finance a boat?

You must have bought a junker. Also, yeah life is short, but i would hate to make my kids life hell because of the debt i incurred over my life living by your motto "live today, you might die tomorrow".

Why would your kids life be hell because of your debt?

I agree on the junker think, I paid a tad less(got the deal of the century IMO) and my boat is in better shape, and more reliable than most 10 year old boats I see out there.
Sure, there's tons of junk out there, but there are also some meticulous folks out there who actually know about care and maintenance, hell, tons are right here on this site.
Shame on someone for not checking the boat out properly in the first place.

Anyway, do whatever makes you happy, I was just feeding the troll in this thread, I could care less if someone else is up to debt and will spend their every last day working to pay it off. Me, I'm enjoying my semi-retired life at 42, and feel good in my decisions not to have to keep up with the Joneses.

 

[mike343]

Re: How should I finance a boat?

Did you guys notice that alan hasn't been back to the thread?

 

[skargo]

Re: How should I finance a boat?

Did you guys notice that alan hasn't been back to the thread?

Hopefully he found the boat of his dreams and is having a blast!

 

[JB]

Re: How should I finance a boat?

Todays economic climate makes it very unlikely that you can get any kind of loan to buy any boat.

First, lower your sights to a boat that you can pay cash for. Modern fish 'n' ski boats used to be rich men's toys. Today they are usually rich men's or deep debtor's toys. You sound like you aren't rich and shouldn't be a deep debtor.

With the help of a knowledgable boater you should be able to find a modest outboard boat for between $500 and $1,000. Save it up, do a garage sale, sell stuff on eBay. Get the family involved in raising the bux and they will be involved in the boat.

Going thousands of bux in debt for a frivolous luxury would be very unwise.

 

[Bob_VT]

Re: How should I finance a boat?

I do believe this thread has run it's course and is not going to show anything with more progress. When/if the original poster makes the decision and new thread can be started.

You guys can be a tough crowd!!

Going to close the door on this one.