Congrats...sounds like your focus should be elsewhere anyways, boats aren't going anywhere.

 

Ya, one of the reasons I want to go with the 24" cruiser is that It can be covered which extends the amount of time I can use it during the year. At this time, I

 

^ hey, make CERTAIN you talk to your tax guy. If you are expecting to make more money in coming years, you'll be subject to the AMT and you will be unable to write off the boat as a second home.

Also, man - locking yourself into a $450 payment for 20 years is serious business. It's ok on an appreciating asset like a home...but you'll be backwards overnight on the boat. So if you change your mind...

 

Thanks, and yes, you're right. I'm just looking down the road. Not going to take an infant boating, nor am I going out on the lake all the time while leaving the wife and kid @ home!

I've had many, many years of fun indulging in motorcycles, sports cars, etc. to my heart's content, but I'll def. be scaling back on those activities for a couple of years.

 

Or you could always buy a 1-2 year old model and spend $30k for it. With a standard boat loan of 15-20 years, you will be paying around $200/month anyway, but it will be yours to use, no worries about availability, company going under, other people doing whatever they do on the boat, etc.

As a life long boat owner, boats should not be looked at as anything but a cost that is justifiable by the amount of joy you get out of it. You can be smart about how you get into a boat, i.e. - buy a new "last year model" at a boat show at around %60 of MSRP, or buy a 1-2 year old boat from all the people that have lost their equity lately and need to dump their toys, or buy a repo'd boat. After that, accept the fact that it is a hole in the water you throw money into and just enjoy it.

 

[QUOTE=y2ks2k,Aug 20 2008, 08:23 AM] Think about this logic.

The $50K 24

 

+1 - selling payments instead of price is one of the oldest tricks in the book for car salesmen.

A sophisticated consumer will assess the purchase, financing, and trade (if applicable) as separate transactions.

 

Bottom line, if you are trying to justify buying a boat based on tax write-offs, payments based on yada yada yada, you probably should not be buying one. A boat is a luxury excess only. The amount you pay a month on buying the boat is such a small amount compared to docking fee's, fuel costs, insurance, equipment, maintenance, etc. For example, if you store your boat in the water, are you going to be the one that cleans the hull every year? If you store it in the water, are you taking into consideration yearly maintenance for the outdrive/impeller, etc? What about costs and or time to keep the boat waxed (a necessity, especially if stored in the water). There are so many time and cost factors that you either should have the money no problem, or not get a boat in the first place.

 

I'd choose C6 over this shit no doubt.

 

[QUOTE=QUIKAG,Aug 20 2008, 12:46 PM] I just cannot believe that someone who brags about how much money they're saving driving a Fit is considering buying a $50k boat and financing it at $450/month for 240 months.