Going Big. $100k+ Boats

[model 10]

Originally Posted by laika

After all, the boat is just a place to sleep, eat and sh!t.. The world is your home.

What kind of boat are you talking about?

[coral_bound]

Lol pretty rude jimbo. I do own a calculator just thought id let someone else work it out.

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[Dave Lochner]

Originally Posted by coral_bound

Lol pretty rude jimbo. I do own a calculator just thought id let someone else work it out.

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Not to rain on your parade, but there are things that are easily computed, such as loan costs and availability. Just google boat loans.

Even if you buy a 100K boat, expect to spend about 10% of the purchase price in the first year of ownership on fixing things that need to be fixed and making the boat your own.

If you have reliable income and enough assets don't be afraid of a loan. Money is cheap and the bigger and newer the boat the cheaper the money gets. Loans in the low 4% range are doable. Just be prepared for all the costs that you don't know about yet.

[BandB]

Originally Posted by Dave Lochner

Not to rain on your parade, but there are things that are easily computed, such as loan costs and availability. Just google boat loans.

Even if you buy a 100K boat, expect to spend about 10% of the purchase price in the first year of ownership on fixing things that need to be fixed and making the boat your own.

If you have reliable income and enough assets don't be afraid of a loan. Money is cheap and the bigger and newer the boat the cheaper the money gets. Loans in the low 4% range are doable. Just be prepared for all the costs that you don't know about yet.

Well, not knowing the boat or it's age or his credit, loans in the low 4% may not be at all doable. The other factor is the number of years it will be financed. That number comes down significantly with age. Those two factors are why the payments might run considerably more than a home. Higher interest plus shorter term might be in play.

[laika]

Originally Posted by Guy

What kind of boat are you talking about?

Geez, put me on the spot I was thinking something like this..



But if you have other ideas

[savoir]

Originally Posted by Guy

What kind of boat are you talking about?

The kind with a bunk, a galley and a head ?

[coral_bound]

Haha @ the guy in...that.

Yeah maybe I feel more motivated to do whats needed in order to have a larger boat too because of the idea of a storm and rogue waves.
Watched this youtube video of a guy who lost electronics and was stuck for a while crossing the northern atlantic..pretty scary the boat was flipped over multiple times, crazy...im not sure it seems though the larger the boat the safer you are in a situation like that.


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[gonesail]

from what i've seen out there 100K buys a catalina 350

[coral_bound]

Looked at those @gonesail they seems beautiful. There was no sarcasm in that though, right?

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