Who pays nearly $230,000.00 for a boat to fish?

[DockShootinJack]

The price of a nice home. That will gain value over time

[Chuck Adams]

I'm proud there are folks who can afford boats like that. Not me. I looked at the same boat model in a friend's garage Saturday that was $114K. He is a very successful business man who probably did without nice things earlier in life to build his business. He paid cash for it.

I saw the downfall of such finance traps years ago. I was trying to make a deal on a Skeeter bass boat (I didn't) at a local dealer when a young couple came in with a baby in tow. The man had bought a bass boat at the dealer less than 2 years earlier and financed it to the hilt. He was wanting to trade for a bigger, nicer bass boat. I overheard the whole conversation. When the dealer told the man his boat was worth X on trade but he owed essentially the sales price from when he bought it, the man EXPLODED!! The money owed on the boat and the boat value were THOUSANDS apart. The dealer tried to explain that the finance charges are almost all taken up front and the principle paid later, he threw a fit and nearly broke the door when he slammed it going out. The salesman explained it all to the shocked wife, then she walked out carrying the baby. The young man had fallen into the trap of putting very little, if any, money down then signing up for financing the whole deal.

That scene left a lasting impression on me.

That guy must have failed math in school.

My buddy owns/sells Bass Cat boats among others here locally.
I remember looking at the prices a couple years ago and asking how anyone could afford them.

He replied that he wouldn’t even have to list the retail price because most just want to know….How much is my monthly payment gonna be?….
I think he said they were financing them for 20-25 years.
Yikes!!
Lots of people just buy nowadays and worry about how they are going to pay for it later.
Not my generation.
I understand your buddy working and sacrificing and now getting what he wants. Good for him.


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[M R Dux]

That guy must have failed math in school.

My buddy owns/sells Bass Cat boats among others here locally.
I remember looking at the prices a couple years ago and asking how anyone could afford them.

He replied that he wouldn’t even have to list the retail price because most just want to know….How much is my monthly payment gonna be?….
I think he said they were financing them for 20-25 years.
Yikes!!
Lots of people just buy nowadays and worry about how they are going to pay for it later.
Not my generation.
I understand your buddy working and sacrificing and now getting what he wants. Good for him.


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We've all probably seen the abode of the next Kevin Van Dam. Around here there is a sparkly new bass boat and new decal covered truck sitting in front of a 20 year old single-wide trailer with the wife's old beater car to carry the kids in. People make their own choices. I just hate to see the sacrifice made on the backs of the wife and kids.

[Chuck Adams]

We've all probably seen the abode of the next Kevin Van Dam. Around here there is a sparkly new bass boat and new decal covered truck sitting in front of a 20 year old single-wide trailer with the wife's old beater car to carry the kids in. People make their own choices. I just hate to see the sacrifice made on the backs of the wife and kids.

Yep,
Agree with that for sure.
My buddy’s granddaughter and her husband with two kiddos just bought a house 5 miles from me.
860k….he has a Tesla and she has a newer SUV.
I know their combined income and it doesn’t add up to warrant the lifestyle they are trying to live.
Just this Gen X or Y or whatever the newest generation is called.



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[Tenn Tux]

The 54 gallon gas tank scares me

my Triton has a 56 gallon tank. I have never had a half tank of gas in it.

[Retired2Fish]

Our daughter is in the banking industry. She says that these types of purchases are seldom or not ever paid off. They are lost to foreclosure or refinanced over and over. Either one of these outcomes costs the borrower big over time. Financing a boat over 20 years does not make sense to me.

[Chuck Adams]

Our daughter is in the banking industry. She says that these types of purchases are seldom or not ever paid off. They are lost to foreclosure or refinanced over and over. Either one of these outcomes costs the borrower big over time. Financing a boat over 20 years does not make sense to me.

Haven’t owed anybody or anything for over 20 years.
Never owned a credit card.
My Daddy taught me if you don’t have the cash don’t buy it. Only thing I ever financed is my house and paid it off 7 years early by paying extra on principle. Cash is king.
But I’m 68 years old. Worked ALL my life and lots of 2nd jobs too.
Times have changed and I’m sure it’s not for the better.


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[keeferfish]

Never owned a credit card.
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We charge everything possible that does not charge us extra for using the card and pay it off monthly. We get between $75.00 and $100.00 of free money deposited in our bank account monthly for it. If you're disciplined it might make financial sense.

[huntinslabs]

If the banks would stop lending money for these ridiculous long terms on vehicles, boats and rv's the prices would plummet. But folks are hung up on monthly payment $$ and won't listen to reason otherwise.

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[keeferfish]

If the banks would stop lending money for these ridiculous long terms on vehicles, boats and rv's the prices would plummet.

So would their record profits, the Banks and lending intuitions that is!