What are your boat payments?

Discussion in 'Boating' started by Seth, May 30, 2009.

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  1. Seth

    Seth Active Member

    Messages:
    1,807
    State:
    Owensville, MO
    Just curious what you guys are paying on your boats. I've got a 16' jon with a 50hp jet that's payed off at the moment, but I'm always dreaming of getting something bigger. Post what kind of boat you had and what type of financing you got for it (down payments, monthly payments, loan term, etc.)

    I'm sure there are others who wonder how much boat a person could buy and what kind of payments they would be looking at.
     
  2. DANZIG

    DANZIG New Member

    Messages:
    6,672
    State:
    West Virginia
    Payments suck.

    IMO Ride what you have, put those "payments" in the bank, pay cash for the next one. :big_smile:
     

  3. derbycitycatman

    derbycitycatman Well-Known Member

    Messages:
    5,299
    State:
    Kentucky
    Name:
    your first name
    16.5 foot vhull with a 25 hp evinrude, cash. Ive had it for over 10 years and its older than I am.:smile2:
     
  4. Catfish Pursuit

    Catfish Pursuit New Member

    Messages:
    1,081
    State:
    Missouri
    Just bought a leftover 2008 Crestliner CXJ 1870, 2009 Merc 90hp 4 stroke, top of the line EZ Loader trailer, for $17,000. My payment is $233.59, financed for 10 years but got a high interest rate because my credit still sucks but oh well, I WANTED A NEW BOAT. Definately glad I bought it and will never look back. Just have to sit down and look at wants vs needs. I wanted to get my drag car back together, I needed a new boat to help my fishing ability haha. So, new boat it was, car will just take a little longer so no big deal. Chris
     
  5. oh no

    oh no New Member

    Messages:
    11,108
    State:
    Indiana
    I consider a boat a toy, like 4 wheelers , dirt bikes, dune buggys,,,, I will not make a payment on a toy...

    My 99 Lowe Roughneck 1960 with 90hp Merc was paid for with cash money.

    I do have a car payment on that new Mazda I bought last year.
     
  6. ShilohRed

    ShilohRed New Member

    Messages:
    4,339
    State:
    West Tn
    2008 Lund 1825 Pro Guide Tiller . No payments it was paid for when we picked it up.
    Sold 2 boats for most of what the new one cost. Had the rest saved up over time. So no payments.:eek:oooh: There the best kind.
    Pete
     
  7. Hoopie

    Hoopie New Member

    Messages:
    818
    State:
    Ohio
    I bought a 1999 tracker pro team 185 jet in 2004 for $5000. I think the payment was $125.00/ month. Paid it off early. I had it for 5 years then sold it for $4000. Took $2000 of that and built a sweet jet boat for river fishing then put $2000 in the bank. IMO payments suck.
     
  8. Bill in SC

    Bill in SC New Member

    Messages:
    4,451
    State:
    South Caro
    If I can't pay cash, I do without. Payments suck!

    Bill in SC
     
  9. Mark J

    Mark J New Member

    Messages:
    9,407
    State:
    Four Oaks, NC
    Building your own the only payment you'll ever have is paid in sweat equity.
    Boats are losing propositions just like cars.
    On a 17 foot boat at 17,000 paying 233 a month for ten years you'll pay over 28,000 for it. To put it in a different perspective Not only do you pay for the boat but the privilege to to pay for the boat.:eek:oooh: 92 bucks a month buys the privilege of paying 233. To make matters worse 1/2 way through the 10 years you couldn't give it away for pay off.

    Look at millionaires. Most of them I know never buy new cars. They let somebody else take the screwing. It's why they are financially secure.
    They'll go buy a vehicles with 20-30K miles on it. It aint even broke in yet but it got broke off in the original purchaser.

    I will never finance a vessel. As Oh No says. Don't finance the toys.
     
  10. roadkill636

    roadkill636 New Member

    Messages:
    551
    State:
    warrenton misso
    When someone asks a question about intrest rate, payments, loan term, and cost of boats why the heck do you all even post coments that dont even answer his question that he's asking????
    this was the question,,
    what kind of boat you had and what type of financing you got for it (down payments, monthly payments, loan term, etc.)

    this is my answer.
    my 2007 Seaark 2472 CUB was $13,500 for the boat and trailer,
    "no motor I already had one"
    with $500 down and 714 credit score at 6.5% intrest rate the payments are $315 a month for 4 years
    click on the link below for a pic
     
  11. drpepper

    drpepper New Member

    Messages:
    6,133
    State:
    Indiana
    A member for a year and 160+ post.... why do you seem surprized? It's the nature of the BOC like or not. lol
    Actually I'm surprised no one has posted about their PB tuna fish or mentioned anything 'bout what they had for dinner last night.. I ate at Burger King with the kids... Whopper with cheese, no mustard, small fry, and medium Dr Pepper...
     
  12. roadkill636

    roadkill636 New Member

    Messages:
    551
    State:
    warrenton misso
    I know I know... I guess Im just used to some of the performance sites that when someone asks a question everyone answers the question with a good answer...
    the answers I poke fun at the most is when someone asks a question is
    "I dont know, but Im sure someone will come allong soon and help you"
    maybee I should start posting this responce at everyones threads:roll_eyes:
     
  13. Cathooker

    Cathooker New Member

    Messages:
    299
    State:
    Ga
    AMEN!!!!! I hate it when someone cannot or will not answer the question that was asked.
    My answer:
    1989 Carolina Skiff.....Dad paid $3500.00 for boat and trailer. 0 down payment and I don't know what his payments were but I know it was financed for three years. I paid $1800.00 for the motor (1980 model 55hp Evinrude)....$200.00 down and the rest financed for one year. Dad passed away and I inherited the boat. The old motor was acting up so I put a new 2007, 70hp Yamaha on it. I paid $6850.00 cash for it. Yes, payments suck but if you want a new boat and you need to make payments on it then it is YOUR business and no one else's. Go ahead and do what makes you happy.
     
  14. DANZIG

    DANZIG New Member

    Messages:
    6,672
    State:
    West Virginia
    "When someone asks a question about intrest rate, payments, loan term, and cost of boats why the heck do you all even post coments that dont even answer his question that he's asking????"


    Just trying to HBO. A lot of us have been around the block on that "payment thing" and have learned better.

    As much as I hate to agree with Mark J, he is spot on. If I had a $17000 anything for sale, would you offer me $28000 for it? I am guessing not. (But just in case, my phone number is------):wink:

    There are times when financing makes some sense, but not often.

    But hey, it is not my life. Take the advise, or leave it, as you choose. Only you know what is best for you.:big_smile:
     
  15. Iowa_Josh

    Iowa_Josh New Member

    Messages:
    1,463
    State:
    Central Iowa
    My payment is endless projects! hey the lights don't work, the trailer lights don't work and does the motor start? old stuff has a price too.
     
  16. Mark J

    Mark J New Member

    Messages:
    9,407
    State:
    Four Oaks, NC
    Actually the question was answered. There is no payment. Free with an explanation of why there is no payment.

    Yea Lawrence, I've been that route twice on boats and twice on new cars.
    A house is enough. When you sit down and figure out what you'll have paid at the end of a 20 year mortgage with a good interest rate you really start thinking about borrowing money across the board. I paid for the cost of my house in the first 10 years. The rest is the bank's pay.

    But some of us are jerks and assholes in general in that in this case we're not really here to help the "grown ups" but offer some advice to the younger folks that may be reading.
    If I had gotten the advice and listened to it when I was younger, I guarantee I would be retired at 41.:wink and fishing today.

    At any rate, what boat payment?
     
  17. Holmes

    Holmes New Member

    Messages:
    159
    State:
    South Caro
    i have a 21' cc paid 15000 boat motor trailer. payment 280 for 5 years with my credit union. now is the time to buy if you can afford it intrest is realy low.
     
  18. centexcop

    centexcop Well-Known Member

    Messages:
    3,078
    State:
    Texas
    I agree with a boat being a toy. Unless it's something that you use for work, or you have an endless supply of money, it's best to make payments to yourself for a few years and then go out and pay cash for it.

    This is why so many people are in financial trouble these days. People aren't thinking things through and they've got the attitude that they want it and want it right then. So, just go out and finance a boat to go with your car payment, house payment, credit card payments, insurance payments, and other monthly expenses.

    If you're dead set on borrowing money to buy a boat, consider this. Set up a savings account and have an automatic draft from your checking account for the amount of the boat payment, insurance, fuel and an extra hundred dollars per month for accessories. Do this for three months. This will give you time to see how it is going to affect your financial situation. If you find that you had to pull a little money out of the savings account during the three months, then you're boat probably just got repossessed.



    It takes restraint, but you can save the money in a few years to pay cash for the boat. You'll be so much better off in the long run.
     
  19. centexcop

    centexcop Well-Known Member

    Messages:
    3,078
    State:
    Texas
    Don't forget to use your "Thanks" Button
     
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