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

[salty87]

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

i don't see the harm in financing either provided it's done conservatively. there isn't all that much difference between saving up first and then buying or buying and then putting the money away each month. i financed my first (and still current) boat, paid it off early. at the same time, nothing beats having no payments.

i gave up bar hopping and smokes. never looked back.

 

[agallant80]

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

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

Wife #1 cost me money too. But once she was gone all of the money I was saving by not paying for her went to the current boat. Don't regret it at all.

 

[sickwilly]

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

I kind of look at it differently. I sacrificed 18 years of my adult life not having a boat to finish my education, start a family, and get into my career. I wish I could have half of those years back. I am now mid 40s trying to ski and wakeboard like a guy in his 20s. I missed some of my best years on the water. I still have several good years left, but this is a love for me. If I were to get to do it again, I would have at least had a beater boat during some of those years.

I am not going to preach to your about cash or credit, or new or used, etc. If this is a love of yours, get in a boat yesterday!

Forecast here is perfect for boating this weekend. We are going to load up 4 of my son's skateboarding buddies up and take them wakeboarding and wakeskating tomorrow. The 3 that are coming have never been in a ski boat. How kool is that to get to take them out!

 

[ziggy]

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

i've never been into financing anything, except my house.
so when i wanted a boat i got rid of the only new thing i've ever bought. an '02 fx140 pwc. it was the only thing i had of value.
i wanted to have a boat and a pwc, but it just wasn't in the cards...
i've been happy with my decision too.

 

[paultjohnson]

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

My 30 birthday present to my self... quit smoking cigs, bought a boat. i figured 5 years of non smoking paid for that boat. Bought it in 1990. Still have it !

 

[WIMUSKY]

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

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

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.

No, there are no guarantees. But I don't subscribe to the fact we should live like there wont be a tomorrow, at least not financially... Make everyday count because there may not be a tomorrow, sure....

I'm also having a tough time wrapping my mind around $14.41/month interest on a $75k loan...... I have around a $14/month interest charge, maybe a little less, on a $3K+ credit card at 2.99%.

We live in a "gotta have it now society". Not always a good thing. I'm with smokeonthewater on this issue... Saving money for a while isn't a bad thing......

gtochris, if you want to get out of cars then by all means sell it and put it towards a boat. I sold my GTO for a street rod. I knew if I bought anything other than another car my days of owning a "specialty car" were over... I thought about putting the funds towards a new boat. Then I realized I get more use out of a car. I'll keep my current boat for now....

Hi Pauly! Where ya been?

 

[noclutch]

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

When wife #1 left we each spent more than the new cost of our modest boat on lawyer fees (me about 40K, her probably about 50k). She left me with the house and acreage free and clear and the boat with it's half paid note. Then I got a HELOC for the boat refi. She never really enjoyed boating that much, which in fact may have hastened the end.

Five years later, the GF of one year and her kids LOVE boating and I'm in the market for a bigger one now! Yes, I'll finance it but I don't know if separate or with HELOC (APR half as much). And while I do hate debt in general, like others have said I'm not going to let interest payments deter me from enjoying life now and while I can. Will my new boat cost more than my 2 street vehicles combined did? Yes. Will it bring me and mine more joy? Absolutely! What will I give up for my new boat? I'll sell my prized KTM for the down payment.

My only regret, other than losing a marriage of 17 years, was that the ex got the tractor, dammit!

 

[greenbush future]

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

My golden rule is Toy's are only bought when I have cash to spend. I never borrowed for my boats and I have 2 of them. Same goes for snowmobiles and all my fun toys. I just don't feel I need to pay interest on anything that is designated for fun. It has worked well for me and living in MI when the snow flies and all my buddies are making boat and sled payments, I just keep throwing $$ in MY bank account. Only loan I have in on my houses.

I also don't carry any credit card debt, just cant do that and sleep well at night. I like to sleep well.

 

[caniborrowit]

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

I sold my motorcycle to buy a boat, quit smoking to justify buying the motorcycle. Wanted something the whole family could enjoy and don't regret it at all.

Comment on the side thread - It's all about what you can afford, get whatever you want if you can afford it. One thing I've learned is that I have just as much fun on my older, cheaper boat (which is paid off) as someone with a new, fancy, boat. And I don't have to worry if I bump into the dock or anything like that. Just my .02

 

[Natesms]

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

I also don't carry any credit card debt, just cant do that and sleep well at night. I like to sleep well.

While we are on the side thread. I finally got a CC last year that does travel points, never had one because I like to sleep well too and watched so many people get into trouble.

I had a bunch of house projects and my boat project over the last several months. I had the cash so I charged everything and paid it off right away. Using the points from those purchases (and I now charge everything I can) I was able to pay for my vacation last week. I took my boat I repaired to the lake, I paid for the hotel up front in points and then the fuel and slip rental at the gas dock came up as "other travel" through the hotel on the card and I was able to pay for that as well with points. I've never paid 1 penny in interest on the card and got a huge chunk of my vacation paid for with purchases I had planned for.

I'm OCD about that CC payment though. I bet I pay it off 3 or 4 times a month.

 

[quad59]

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

Quit racing motocross, sold 2 full motocross ltr450s and 2 drrs built for national level racing to start boating. I bought the first boat as a trial for the family for 1200 bucks. Kept buying broke stuff and fixing and selling, all sizes and motor combos, learned alot and last one I sold for 7k. Only used that initial 1200 dollar boat to start and flipped 5 in a summer. We havent had a boat the last couple of years due to kids sports schedules and I was waiting for them to get alittle older. I plan on hitting the boat show this winter and taking delivery in the spring, just havnet decided which boat yet.

 

[dingbat]

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

No, there are no guarantees. But I don't subscribe to the fact we should live like there wont be a tomorrow, at least not financially... Make everyday count because there may not be a tomorrow, sure...

I'm also having a tough time wrapping my mind around $14.41/month interest on a $75k loan...... I have around a $14/month interest charge, maybe a little less, on a $3K+ credit card at 2.99%.

We live in a "gotta have it now society". Not always a good thing. I'm with smokeonthewater on this issue... Saving money for a while isn't a bad thing......

Ah, you noticed that.....1.99% with no early payment penalties. Repaid early... loan cost me roughly $900 if you include the income from the investment I left in tact.

I'm a firm believer of living within your means but.....you can only save so many nuts before they go bad or you starve to death. There comes a point when it's time to feast.

I just keep throwing $$ in MY bank account.

I wouldn't sleep at nights knowing my money was in a bank.

You got to love the 0.05% interest rates. Talk about throwing a resource out the window.

 

[Alwhite00]

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

Not as spectacular as some of you guys but I was looking for a specific boat a few years back to get into boating, Had a certain budget but everything was junk. I finally found one with all new upholstery in & out, Re-powered with a 260 mercruiser / Alpha 1 but the price was higher due to the upgrades.
I was really into banana bikes and sold a completely restored 1971 or so SwingBike - Very rare & expensive. I knew it would sell quick and it did, Bought the boat & never looked back. I'm on my 2nd boat now but sure miss that 86 Sea Ray Seville 210MC - I still can't believe Sea Ray put a mid cabin in a 21' boat.

LK

 

[bouch1]

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

traded a '53 tractor/loader and a 92 pwc for the boat, most yard work was done and the family didn't all fit on the pwc, still miss them both at times but LOVE the boat!!!