What is the most you've payed monthly on a boat ?
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What is the most you've payed monthly on a boat ?
Mine was $400. Likely a good time to finance as rates seem to be lower now.
$836.00 way too much. Paid off the boat in half the time financed.
$536. I put more down on that boat than my hallet cost.
Not to sound superior or anything......but I've never had a boat payment in more than 25 years of boat ownership.
I don't know why......probably because I didn't really start boating till I was in my late 20's but I always thought that you should pay cash for depreciating assets and save debt for those things that appreciate (hopefully).
Probably why I've never had a "Baller" boat but I'm not knocking anyone who does.......am I the only one stupid enough to be so conservative??
Nope, me too. Cash only. That's why my boat has a spectra bottom not a schiada. I hear flatter is faster so I'm okay with it. :wink_002:Quote:
Originally Posted by Paul65K
Never had a payment. Old school. from the days if you wanted a 100mph boat, you had to build it, you couldn't just write a check for it. Never could bring myself to make payments on something that sat over half the year. Any "off season" payments I make are made buying things that make the thing faster than the last time I had it out.
Cash only.
Cash only. Can't afford payments and repairs.
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Originally Posted by Hye power
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Originally Posted by Menace Marine
My thoughts as well. I would carry that over for my vehicles too.
Cash is KING.
I was paying $1600 a month for my Daytona. Combine that with a $500 a month insurance bill and $250 a month to store the boat. It was costing me almost $2400 a month before gas and beer. :yikes:
I agree....I only wish I had figured that out before I was 35......oh well better later than never!!Quote:
Originally Posted by PokerRun388
I was taught at a young age that toys are a luxury item. No cash=no toys. Have yet to finance a toy. My wife wants a baller boat. Told her better hit the lotto or start hookin on the weekends. Haha
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Originally Posted by Paul65K
Well you're only 36, so you weren't too far off...;)
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I feel the same way now but it took until I was almost 40 to learn my lesson. The funny thing is, before the economy went down I had over half a million dollars in cars and boats but the reality of it was once I stopped making the payments I actually owned/had nothing. That is why everything I have now is paid for. It's nice not having any payments but it feels even better knowing that the bank can't come get it.Quote:
Originally Posted by Hye power
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Originally Posted by 314joey
Agreed!
I also own all my stuff including my Chevy and boat, I worked my ass off getting my kid to the pros in motocross and to buy my boat with cash. I use some cards to party down at the river, but always pay em off. I hate taking a dime out of the savings for anything, you can come over to my house and i'll buy a shitload of beer and BBQ, but don't ask me for a dime.
Good for you Grads.....way to go :thumb::thumb::thumb:Quote:
Originally Posted by GRADS
Get your house paid off by the time you're 50 and 5 or 6 rental houses by the time you're 60 and the rest will all be a cakewalk :D