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41 members (Turkeyneck78, Irishguy, beano1, outdoorguy88, Curdoggin, Ron A., kyles, jacannon, MoeBuck, StateLine, MikeP, 000buck, Fbw93, cartervj, Narrow Gap, Skullworks, wareagle22, Obsession, PikeRoadHunter, AUjerbear, Josh3, MCW, BPI, Young20, 3Gs, 7mmSTW, mopar, Bama-66, fur_n_feathers, mjs14, janiemae, Fishminer91, gobblebox, gregnbc, 7 invisible),
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Key:
Admin,
Global Mod,
Mod
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Joined: Aug 2013
Posts: 660
4 point
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4 point
Joined: Aug 2013
Posts: 660 |
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.
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Joined: Aug 2014
Posts: 22,815 Likes: 197
Impatient Stinky Britches Wearin’ Off-Roadin’ Guru
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Impatient Stinky Britches Wearin’ Off-Roadin’ Guru
Joined: Aug 2014
Posts: 22,815 Likes: 197 |
Please help me to understand how this would be a good idea for anyone? It's a FANTASTIC idea...................................................for the salesman that likely gets paid commission If you needed to sale the boat in let’s say two years, how would you get out from under it? You don't
Isaiah 5:20
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Joined: Dec 2001
Posts: 14,546 Likes: 23
Booner
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Booner
Joined: Dec 2001
Posts: 14,546 Likes: 23 |
They appeal to "payment buyers"
I have a "do not finance toys...ever" policy. Has served me well.
"You think I care? Roll Damn Tide"
Have you tried Google?
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Joined: Aug 2014
Posts: 22,815 Likes: 197
Impatient Stinky Britches Wearin’ Off-Roadin’ Guru
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Impatient Stinky Britches Wearin’ Off-Roadin’ Guru
Joined: Aug 2014
Posts: 22,815 Likes: 197 |
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
Last edited by GomerPyle; 04/08/24 04:59 PM.
Isaiah 5:20
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Joined: Jun 2012
Posts: 29,071 Likes: 83
Dances With Weeds
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Dances With Weeds
Joined: Jun 2012
Posts: 29,071 Likes: 83 |
You know what's better than having a boat??.......Having a friend with a boat
Folks that know don't shoot old does........ 
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Joined: Oct 2000
Posts: 15,237 Likes: 1
Old Mossy Horns
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Old Mossy Horns
Joined: Oct 2000
Posts: 15,237 Likes: 1 |
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 +
"The misery of being exploited by capitalists is nothing... compared to the misery of not being exploited at all."
Joan Robinson
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Joined: Jul 2006
Posts: 7,196 Likes: 14
14 point
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14 point
Joined: Jul 2006
Posts: 7,196 Likes: 14 |
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Joined: Jan 2005
Posts: 2,580
10 point
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10 point
Joined: Jan 2005
Posts: 2,580 |
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.
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Joined: Dec 2013
Posts: 28,318 Likes: 564
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 28,318 Likes: 564 |
The best time to buy a boat is in the spring... 
"When I say ever thing I mean ever thing." - Frankie
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Joined: Dec 2004
Posts: 25,471 Likes: 4
I am Cornholio
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I am Cornholio
Joined: Dec 2004
Posts: 25,471 Likes: 4 |
The best time to buy a boat is in the spring... 
If you’re a common sense person, you probably don’t feel you have a home in this world right now. If you’re a Christian, you know you were never meant to.
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Joined: Oct 2009
Posts: 7,068 Likes: 50
14 point
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14 point
Joined: Oct 2009
Posts: 7,068 Likes: 50 |
Why would you sell it in two years when you can continue dump more hard earned money into it another 10?????
"And the days that I keep my gratitude
Higher than my expectations
Well, I have really good days" Ray Wylie Hubbard
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Joined: Jun 2014
Posts: 4,949 Likes: 11
12 point
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12 point
Joined: Jun 2014
Posts: 4,949 Likes: 11 |
What kind of boat? You only live once, boats are fun. Buy the boat.
Last edited by eclipse829; 04/08/24 06:41 PM.
Killing my neighbors deer since 1982
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Joined: Jan 2014
Posts: 1,319 Likes: 2
8 point
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8 point
Joined: Jan 2014
Posts: 1,319 Likes: 2 |
If it flies, floats or fks…just rent it
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Joined: Mar 2018
Posts: 4,830 Likes: 117
12 point
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12 point
Joined: Mar 2018
Posts: 4,830 Likes: 117 |
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Joined: Jan 2013
Posts: 20,341 Likes: 28
Freak of Nature
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Freak of Nature
Joined: Jan 2013
Posts: 20,341 Likes: 28 |
I get my money's worth out of my boat!
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Joined: Oct 2014
Posts: 4,660 Likes: 26
10 point
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10 point
Joined: Oct 2014
Posts: 4,660 Likes: 26 |
There's a lot of people upside down in boats. Prices on used boats have fallen this year. Find you a good used one.
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Joined: Jul 2020
Posts: 9,818 Likes: 91
14 point
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14 point
Joined: Jul 2020
Posts: 9,818 Likes: 91 |
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Joined: Dec 2014
Posts: 9,111 Likes: 35
14 point
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14 point
Joined: Dec 2014
Posts: 9,111 Likes: 35 |
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
"I dont quit.. And ill fight alone if i have to"
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Joined: Dec 2009
Posts: 2,370 Likes: 35
8 point
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8 point
Joined: Dec 2009
Posts: 2,370 Likes: 35 |
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.
Romans 8:1-2
"There is therefore now no condemnation to them which are in Christ Jesus, for the law of the Spirit of Life in Christ Jesus has made me free from the law of Sin and Death"
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Joined: Jan 2016
Posts: 2,023 Likes: 5
8 point
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8 point
Joined: Jan 2016
Posts: 2,023 Likes: 5 |
What kind of boat? You only live once, boats are fun. Buy the boat.
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