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Do you own your boat?

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I'm curious to know how prevalent it is to finance a boat or whether people tend to buy their boats with cash? I'm adding a poll and I'm going to set it such that you can't see who voted for what.
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Do you own your boat?

  • I have a boat for pleasure and I own it outright.

  • I have a boat for pleasure and I finance it.

  • I have a boat for business and I own it outright.

  • I have a boat for business and I finance it.

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Of the boats I have owned I think I only got a bank note on three and one was stolen less than two years after I bought it.

My finance strategy then, as our situation has changed for the better ( as hoped), was get the longest term/lowest payment available then double or triple pay each month. My theory was if something negative were to happen to or financial situation we could hopefully make the minimum note and keep the toy.

We paid those boats off long before the note was due.

That strategy has been what I have done with everything I have ever gotten a note on. We financed our house originally for 30 years and I think we paid it off in 16 or so.

The last two boats we bought we were fortunate enough to be able to pay cash.
 

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Of the boats I have owned I think I only got a bank note on three and one was stolen less than two years after I bought it.
How was your boat stolen? That's an interesting subject and could be a thread on it's own.

I own my skiff because it was pretty cheap so I just paid cash. I think tho if I was buying one over 30k I would finance some of it depending on the rates offered.
 

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Yeah if I waited until I could comfortably pay for a boat cash I'd be an old man. I try to be responsible with money but I also have to experience this life I'm living otherwise I'll have regrets. I've been lucky that up until now my dad has always had a small boat I had access to as if it was my own but because its kept 2.5 hrs away its a bit of a production to go and use it. I'm so happy I got my new skiff because I can just take it out of the garage and disappear on my days off. I've also had an opportunity to spend more time with my own dad since he recently retired. Hopefully taking the kids out this Friday it will be their first fishing outing on the new boat. I have taken them for a few joy rides. I should have done this 10 years ago!
 

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Yeah if I waited until I could comfortably pay for a boat cash I'd be an old man. I try to be responsible with money but I also have to experience this life I'm living otherwise I'll have regrets. I've been lucky that up until now my dad has always had a small boat I had access to as if it was my own but because its kept 2.5 hrs away its a bit of a production to go and use it. I'm so happy I got my new skiff because I can just take it out of the garage and disappear on my days off. I've also had an opportunity to spend more time with my own dad since he recently retired. Hopefully taking the kids out this Friday it will be their first fishing outing on the new boat. I have taken them for a few joy rides. I should have done this 10 years ago!
You get only so many trips around the sun. Make the best of them for you and your family.
 

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Bought all my boats over the past 38 years with cash. My two fishing boats I bought used. Rebuilt one complete and added anew yami. A 21 'seafly witha 150 yami for Maine and a B2 with a 60 merc for SWF. No need to buy new. I use em to fish.
 

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Bought all my boats over the past 38 years with cash. My two fishing boats I bought used. Rebuilt one complete and added anew yami. A 21 'seafly witha 150 yami for Maine and a B2 with a 60 merc for SWF. No need to buy new. I use em to fish.
We've always had used boats in the family and MOST have been reliable. Went new because I planned on venturing deep in the glades and I'm not the most mechanically inclined. Yes new motors can have issues, but for me the peace of mind of knowing its new was worth it for me and my family. And yes, I did pay the premium, LOL!
 

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I finance. I am 42 married and have no kids. The wife has the house she wanted and all I do is work my ass off so I needed something for myself but not enough cash to buy it.
 

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I paid for my Beavertail and prodigy. Business bought the prodigy for bridge inspections.

The fact that I have enough to pay cash weighs largely on what boat I am gunna by.
 
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I have a hard time wrapping my mind around financing toys.
Not everyone can spring for a boat cash. There's a difference between overextending yourself financially (common down here in SoFlo) and putting money towards something for entertainment and enjoyment. I've owned 3 vehicles my whole life (I'm 44). I put a lot away for retirement, college for kids, savings, etc. Still have student loans but at a great rate. I deferred getting a new truck to be able to get my skiff and we were due for some home improvements. I should have my skiff paid off pretty soon and then its on to financing my next depreciating asset....my 4th vehicle ever, LOL!
 
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