Been looking at buying a new boat now for a while now.

For one, prices are ridiculous and interest rates are unreal. Salesman tells me I can finance boat for 15 to 20 years. Please help me to understand how this would be a good idea for anyone?

If you needed to sale the boat in let’s say two years, how would you get out from under it?

Sorry, I was just shocked when he told me this. He said people do it everyday.

It's a FANTASTIC idea...................................................for the salesman that likely gets paid commission


You don't

They appeal to "payment buyers"

I have a "do not finance toys...ever" policy. Has served me well.

The only way you could even attempt to make an argument at a case where it makes sense is in a situation where the buyer has the cash on hand, but instead of paying cash, they finance the toy and invest the cash somewhere with an ROI enough to offset the interest rate on the payments they're making on the toy, and the investment still be liquid enough that they could cash out and pay off the toy at a moment's notice if necessary.

that is not the case for 99.999% of buyers financing a boat for 15 years.

Now, if you want to talk about a buyer putting a large percentage down, and then financing it for a few years so that their equity stays ahead of the depreciation....still wouldn't be my cup of tea but it at least wouldn't be insane like the 15+ year deals out there

You know what's better than having a boat??.......Having a friend with a boat

I bought my first two bass boats for under $20K and sold them both for almost what I paid for them. I just can't justify buying a boat or a truck right now for what they are charging for them. It's amazing. 20 year old boats going for $20K +

Do not finance toys.

I did not want to finance my new car, but for 0% interest would be a fool not to. If I could finance a boat for 0%, I'd definitely take out a 10 year loan on it.

The best time to buy a boat is in the spring...

Why would you sell it in two years when you can continue dump more hard earned money into it another 10?????

What kind of boat? You only live once, boats are fun. Buy the boat.

If it flies, floats or fks…just rent it

I like to fish

I get my money's worth out of my boat!

There's a lot of people upside down in boats. Prices on used boats have fallen this year. Find you a good used one.

Id like to have me a kayak or a micro skiff…no big boat ever again..not never ever…i dont even want a kinda little boat

Gotta have a boat to fish down this way on the Mobile/Tensaw River Delta. I have a pretty good older G3 boat but was hoping to purchase a nice larger boat next year when my truck is paid off. It was going to be my retirement boat, that's what I was going to call it anyway. Now, I don't know so much about that. You've depressed me, just too dang much money.