Reply With QuoteI'm a firm believer that your dead for a long time, so with the short time you have, live it up.
Debt, schmedt
Originally posted by Boatjob26
Next year around this time I will be graduating from a 4 year University with a B.A. in Business /Economics with emphasis in Accounting. I've been around boats all my life, my father has owned 3 Lavey Crafts, 3 DCB's. Having an investing background from accounting I just don't understand how so many of the members on here can afford these cats today. I mean even a Mach 26 with a 500EFI is $85,000+! How is it that everytime I go to Havasu I see these young guys, meaning 30-35 years old, driving boats in the 100k to 200k range? Seems like most people are settling into the range of 25Daytona/Mach/F-26's nowadays and these are not cheap! Figure most people put a TCM800 in it and your at 120k, how are you guys doing this? And to add something else, these people towing these boats don't just have ordinary trucks. They have Escalades, Denalis, etc. Seems like the only way I'd purchase an asset like these is if I'm not going to loose my @ss through debt repayment. So tell me the secret!!! Most people must be financing these boats over many many years, which to me is not worth it because it's only a toy. And above all this, at the rate a boat depreciates it seems that one would have to be crazy to fork over the $$ if he truley can't afford it
Let me know your thoughts
thanks Boat job 26, Slick, Charley, CEO, and Dave C could not of said it better. Performance pleasure boating is the most expensive thing I have ever done, toy wise. First figure out if your completly overwhelmed by it. Then, If your married or have kids, make sure they dig it. If your gonna finance, try and only finance half if possible. Not only is the cost of the boat expensive, payments, insurance,etc, but if you get bit by the super performance bug, it will cost a minimum of 25k every year in up keep. When I bought a skater, I thought I would always get my money back when I sold it, yea right, I lost my ass. My advice to you is this: work your ass off, realize that a 1/4 of your income yearly is gonna go to boating, If your not married, grab a hottie and her friend, pin the throttle and have a good time.
I'm a firm believer that your dead for a long time, so with the short time you have, live it up.
Debt, schmedt
Do what I did. Most boat builders sell there hulls without power. This is where most of the cost lies. Do some shopping get a sweet deal on a take-out motor drive combo or build it yourself and save several thousand dollars. You can build your dreamboat a HELL of alot less than buying one off the showroom floor. Of course this is from a poorboy who could only have his dreamboat if I did it myself. Another positive is the insurance companys only insure financed value. If you insure a 25000.00 hull instead of a 100.000 boat the premiums are way less. My advice is make friends with an electrician and a good mechanic and make it happen. Or you can finance a 100.000 boat and pay the insurance . It doesnt have to be a contest on how much money you got.
Originally posted by Bling Bling
Boat job 26, Slick, Charley, CEO, and Dave C could not of said it better. Performance pleasure boating is the most expensive thing I have ever done, toy wise. First figure out if your completly overwhelmed by it. Then, If your married or have kids, make sure they dig it. If your gonna finance, try and only finance half if possible. Not only is the cost of the boat expensive, payments, insurance,etc, but if you get bit by the super performance bug, it will cost a minimum of 25k every year in up keep. When I bought a skater, I thought I would always get my money back when I sold it, yea right, I lost my ass. My advice to you is this: work your ass off, realize that a 1/4 of your income yearly is gonna go to boating, If your not married, grab a hottie and her friend, pin the throttle and have a good time. I couldnt agree more great response....
This is my third boat, and by far the most expensive! Like Daytona100 said, build the engine/drive yourself. I wound up RE-building the motor after 30 minutes of use (supposed to be only 3 hours on a complete re-do with the blower). Cool thing was, I too paid about 1/2 of what this boat is worth if it was brand new. New or not, have fun with what you have. Live life to the fullist!
My first boat was a ratty old jet, that I completly repainted, repowered, re-upholstered, re-filled quite often. Thought that was king shit. Then had kids, had to do the open bow 'sport boat' thing for a few years, and now back into the performance boat! Couldn't be happier, wouldn't look back, MONEY spent now, is money enjoyed, and heck, it's only money, you can MAKE MORE! (with a good color copier of course--who's on my keyboared anyway????)
sorry almost double post
Buy what you can afford and have fun with it. If things go your way later in life run with it at that time. Dont think everyone that has big bad boats is having more fun than you. It is you as a person to have fun in your life. Dont let the ego get the best of you. Just my 2 cents. Everyone with money can lose it tomorrow.
Its harder to keep it than to lose it.
Spend a third
save a third
invest a third
Just some guide lines I heard 10 years ago.
Originally posted by Havasu Hangin'
TFB Motorsports?
?????
Take care of the essentials....food, shelter, family and retirement....And others above said it best, but I think
Tobtek, sig says it well...something like "you never saw a u-haul behind a hearst"...
Enjoy it while you can...
Riverliver,bling,lavey575, outcoled
AMEN!!!
I'm leaving my kids a lil somethin....MY BOAT! of course I'm teasin...they can have the other toys too!
Actually not to spoil the "live fast, die young" thread, but I do frown a lil on the guys who spend 100k+ and don't own a home
Then again who the **** am I to tell anyone what to do with thier money? I don't do it at the BlackJack table, I wont do it here
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