Things you sacrificed or sold to get the boat you want?

[gtochris]

In the interest of no boat loan and buying something we really enjoy sooner than later- I'm kicking selling my '04 GTO I've had since near new and just using the 10K or so toward the new boat fund. It's a rare car and real fun to drive- especially with the 5.7L and 6 speed stick- but becoming an older car (however very clean and well maintained), I probably put 5K miles on it a year as opposed to 10-15 on my other car however this means driving an SUV all the time and no backup.

Anyone do something similar?

 

[oldjeep]

Re: Things you sacrificed or sold to get the boat you want?

My wife got rid of her 70 spitfire about 10 years ago to buy the first boat we had. She didn't get to use it much at the time since we had small kids, I figure I'm going to have to replace that car one of these days.

 

[dvtran]

Re: Things you sacrificed or sold to get the boat you want?

WE gave up 2 years of no vacations that we had planned. I figure we were goin to spend btween 10-13k on vacations in 2 years and said to the wife on our way home from the mall one day. "Honey would you be upset if we didn't go anywhere for the next couple years in lieu of a brand new boat?". 72 hours later I was towing home my brand new bow rider. Unfortunately we had to finance half of the total. But hey what the hell. That was 2 years ago and doubling payments every 2nd month sure takes a huge chunk off of the principle. After borrowing 14k, as of today we only owe just over 4k. No Mexico, no Hawaii and no NYC has brought my family closer together and taught my son how to swim and wakeboard by age 6. I'd make that trade anyday of the week.

 

[agallant80]

Re: Things you sacrificed or sold to get the boat you want?

I don't know why people think boat loans are the worst thing in the world. I don't like the idea of piling on debt but if you can comfortably swing the extra $200-400 a monty why not? You are going to be dead for a long time. You should enjoy life wile you can.....

 

[tdshepard]

Re: Things you sacrificed or sold to get the boat you want?

I sold two motorcyles and a couple of rifles to get my boat. Still have one motorcycle and a few rifles...........LOVE the boat!

 

[Slip Away]

Re: Things you sacrificed or sold to get the boat you want?

Traded in a 5 year old 30ft. cruiser for a new 20ft. bowrider, and actually made money on the trade in. Payments are less, and for shorter term. We have had boat
payments for 21 years on 4 different boats, it's always planned in the budget each year, part of a way of life for us.

 

[idonthaveaname]

Re: Things you sacrificed or sold to get the boat you want?

I have considered selling my soul.

 

[Natesms]

Re: Things you sacrificed or sold to get the boat you want?

I can't even think of all I've traded out for the boating life style. Sold trucks, countless other toys and even bypassed upgrading to a bigger home. Boating is a lifestyle and if you love it, you aren't trading off or sacrificing anything, just living the way you want to. My girlfriend ribs me all the time about spending more a month on boating than we do on the house (during the summer, winter exists to bank money for the summer in my world).

Grandpa always told me, "You can do anything you want in this world, you just can't do everything."

 

[jmcrae]

Re: Things you sacrificed or sold to get the boat you want?

Got rid of wife #2....oh wait that COST me money....

 

[smokeonthewater]

Re: Things you sacrificed or sold to get the boat you want?

I don't know why people think boat loans are the worst thing in the world. I don't like the idea of piling on debt but if you can comfortably swing the extra $200-400 a monty why not? You are going to be dead for a long time. You should enjoy life wile you can.....

I don't know why so many people think that saving up money and paying cash is the end of the world.... Heck, why should some fat banker get a big chunk of MY money every time I buy something.

 

[81 Checkmate]

Re: Things you sacrificed or sold to get the boat you want?

Sold my 99 Roadking to get our boat a few years ago.....Now it's a life style that we live for.

Would love to get a brand new one....but it would break the bank, Plus only getting to use it for 4-Summer months a year. Well you know... money well spent on more important things.

Ill stick with my 86 model and let the good times roll!

Happy Boating All!

 

[Natesms]

Re: Things you sacrificed or sold to get the boat you want?

I don't know why so many people think that saving up money and paying cash is the end of the world.... Heck, why should some fat banker get a big chunk of MY money every time I buy something.

Because my 25 - 35 year old friends look a lot better in a bikini than my parents 55 - 65 year old friends.


As long as it doesn't break the bank I don't see a problem with a shorter-term loan. However, I've always tried to go the route of climbing the toy ladder. Just keep on selling what you have and trading up plus kicking in a little more cash each time.

 

[colbyt]

Re: Things you sacrificed or sold to get the boat you want?

I admire you guys for trading one toy for another. Even dvtran who appears to be using financing in a positive manner.

Way to many of the people I know would sell nothing and finace the maximum amount for as long as the bank would allow.

Good job folks.

 

[jkust]

Re: Things you sacrificed or sold to get the boat you want?

That's a funny story because way back when, my dad got rid of his 1970 GTO convertible for a boat. The only car he ever bought new. He said there was a bidding war right in his garage for the car. Funny thing is the old GTO convertibles are highly sought after as everyone knows, but the option from the Tempest to the GTO and the convertible option hardly cost anything extra.

 

[Captain Caveman]

Re: Things you sacrificed or sold to get the boat you want?

We gave up a second child...meaning we gave up the opportunity to create a second one (but preserved the right to go through the motions through practice, practice, practice)

I should also be honest. The trade-off was actually between having a second kid or the cabin, but you need the boat to reach the cabin!

 

[RotaryRacer]

Re: Things you sacrificed or sold to get the boat you want?

I guess I sold my RX-7 for a boat....sort of. I sold the car, b/c I didn't have time to autocross anymore and was really ready to be done with it anyways. A few months later there was a boat in its space in the garage. Then a few months after that a better, newer boat was in that space.

Of course I already had a boat that was part way through a restoration (still is) in the garage.

 

[frantically relaxing]

Re: Things you sacrificed or sold to get the boat you want?

I don't know why so many people think that saving up money and paying cash is the end of the world.... Heck, why should some fat banker get a big chunk of MY money every time I buy something.

Because my 25 - 35 year old friends look a lot better in a bikini than my parents 55 - 65 year old friends.

I just want to add this: While saving up to buy something, I might get run over by a truck...

Me, I'm an "in debt professional"... hey, it's always worked for me! If I want it and I can afford the payments, then I'm not depriving myself!

What did I sell for a boat? My home of 25 years-- We sold our house to buy the SkipperLiner. For the next year we were homeless... and it was the best thing we ever did! Instead of waiting till we were too friggin old & tired to actually use our retirement-dream houseboat, we bought it while we were still relatively young-- we're now reaching the tail end of our 8th season with it, and man do we, and our kids and friends, have many fond memories of good times spent on this boat.

Wait around till I have the money, or pay the money I'd be saving anyway and have fun--

I'm for having fun!

 

[smokeonthewater]

Re: Things you sacrificed or sold to get the boat you want?

who's waiting... I've had more toys than anyone needs since I was a teenager..... never owed a penny on any of em with one exception... an S-10 w a V8 I bought in my early 20's....

And no I've never been rich..... I'm not attacking anyone who might want to borrow money for a boat but just pointing out that there is nothing foolish or stupid about paying cash for a boat either.

BTW back on topic... I sold a 1982 chevy crewcab diesel with a 19' ramp bed and a wheel lift stinger today to a friend just about an hour ago for the grand total of $2500.... I'll prolly put a little of the money into my "free boat" project.

 

[dingbat]

Re: Things you sacrificed or sold to get the boat you want?

I don't know why so many people think that saving up money and paying cash is the end of the world.... Heck, why should some fat banker get a big chunk of MY money every time I buy something.

Because there is no guarantee.........

My MIL had the same philosophy. She had more money than she knew what to do with yet she lived well under her means to amass a large retirement nest egg. She retired in September, diagnosed with terminal brain cancer in February and was buried 14 months later. My FIL and his girlfriend are enjoying her sacrifices.

I financed $75K when I bought my boat. On average, it cost me $14.41 per month in interest over 5 years. Let's be real, no one is getting rich and fat off $14.41 a month. If you can't afford $14.41 a month in interest, you can't afford a boat.


Oh ya, I "sacrificed" smoking cigarettes for my first boat. Mama said if I quit smoking I could buy a boat.

 

[H20Rat]

Re: Things you sacrificed or sold to get the boat you want?

I'm one of those that has the philosophy that if you can't pay cash for a toy, you probably don't need it. I have more than enough credit line to walk into a dealer and leave with any boat they have, but instead I"m rocking a 14 year old 17.5' bowrider currently. (and even that one is the result of numerous toy-trades) All my other toys (ATV, 4 snowmobiles, PWC's, RV, etc...) are similar, none have had financing, ever.

I don't feel like I'm missing anything or loosing out by saving money in any way, I just prefer not to give my money away to others! Boats depreciate like crazy, and borrowing money just encourages you to take a bigger piece of the depreciation pie.