Tell me again WHY I'm selling Outlaw???

Formula Outlaw · 07-16-2006, 06:00 PM

I just don't get it....

As some of you know, I'm selling Outlaw, actually verbally have a committment from a potential buyer, to get into a 353. I love that 353, Infared graphics (my all time favorite), twin 500 Bulldogs, boat is a 99', basically 200 hours on it, and is like new. Has the silent thunder but we all know what I can do about that....

Here's the deal: I took Outlaw out today for a shakedown cruise to be sure everything was hunky dory before I do the final detail on the boat for the new buyer. All by myself and had a friggin' blast. Quite a few boats out today and no Cuda I didn't have the camera so don't start bit(hing about where's the pix for the proof....

And it hit me: why am I selling a boat that I enjoy as much as I do, for a boat that is newer and faster, BUT I have to go into hock for it for about 55K. Outlaw is PAID FOR.....

Am I REALLY going to enjoy this boat 55 thousand dollars more than I enjoy Outlaw???? I just don't see it.

Now if I could afford to upgrade to say a 42 Tiger, that would be another story alltogether, but except for the motors, the 353 isn't really any bigger than my 89' 311. In fact the cabin seems a mite smaller but I didn't measure it. Just a feeling.

I really don't care one whit's azz about being the fastest cause it only cost more money that I don't have or want to spend. I have a 65' Corvette to feed also. Not to mention all the work I put into Outlaw making it 'MY" boat, i.e., the exhaust swap over. I now have a very unique 311.

So now I'm having serious second thoughts.

Out of curiosity, what would some of you guys do?????

Right now I think I just want to keep it though that is NOT cast in stone. I also don't like being told by some damned Dr. that he thinks I should sell the boat and get out of boating...

With what's going on in the world right now, I'm not comfortable signing a 55K note. I'd rather have a boat that is free and clear....

Am I making any sense here??? I'm trying to do what is fun, yet at the same time be responsible, FOR A CHANGE.....

Let's hear your thoughts....Thanks guys...

Magicfloat · 07-16-2006, 08:27 PM

I'm not a philosopfer ( obviously since I can't even spell it) but I do know that a 311 is one of the finest models Formula has ever built. Good friend just bought a clean 1989,he could not love a new 353 more than he loves his 311. Only you can decide what you want,but the 311 is one of my all time favorites. I'm sure this post is absolutely no help.but you did ask

Maritime_Eng · 07-16-2006, 08:40 PM

I had to make the same decsion this year going from a 311 to a 382. Personally I think it was a great decsion and would do it again if I had the chance. But like Magicfloat said it has to be your choice......... Good Luck

357sr1man · 07-16-2006, 09:02 PM

I would go into a 382 before I would consider a 353......There are some 382's you can get into for 85k to 90k,I haven't seen any 353's for that and I think boattraderonline has a 1996 for somewhere in the 75k range.Just my 2 cents worth

chuck21401 · 07-16-2006, 09:48 PM

The 353 with 500HPs and 200 hours sure sounds very nice.

I edited my first reply to your thread. My first thought was "buy the big boat" but then I thought more about what would I do and then about my situation.

I don't like taking out big loans to finance toys. To me a big loan would be $50K+. I could sign up for a big boat loan tomorrow on a newer boat. But personally I'd rather have smaller payments on an older well maintained boat with some money in the bank in case something comes up. Something always seems to come up where I need cash for other things like fixing cars or the house or property taxes or jewels for the wife or other stuff that I don't want to spend my money on. In my short time in the working world I've found that positive "cash flow" is very helpful. Something always comes up.

For several years I had a 18 Sea Ray. My old man bought it for me right after college for like $3K. Like he told me at the time, "you'll have just as much fun with this boat as a new 18ft Sea Ray." I paid for the gas, insurance and storage and ran the thing every weekend from May to October for 7 years. In Sept 2003 I sold it for $2K.

I told him I was looking at a bigger boat with twin engines. His advice was to buy a center console for cash and if the economy turns to sh*t I could park it in the yard and put a cover over it. He's more conservative than I am, but at the same time I'm not going to stretch far to buy a boat. It sure was nice having a boat that was paid for.

Gas prices are making me nervous but I think they will come down a bit over time. Who knows what will happen in the world. I worry a little bit about it but I can't be preoccupied, life it short and there is an element of risk in every aspect of daily life. The trick is deciding how much risk you want to take.

Older boats do need attention from time to time. Russ with your boat it sounds like you've worked out all of the issues and have made it your own.

When considering the 353 I think you need to think about the real costs rather than the $55K. Let's say you have the boat for three years and decide to sell. How much would the boat depreciate? That's how much you will really be spending. Figure that fuel, insurance, etc. and other costs will be a bit more but if you keep Outlaw you'll have those expenses maybe a couple $$$ more per year or they could be a wash. The 353 will cost more in fuel and insurance but perhaps less in repairs. Then the real issue becomes cashflow, will another $500-700+ monthly payment fit into the budget? If you can afford it that's great. But I'd hate for you to be in a position where you are making those big payments and when it comes time to run the boat you decide you don't want to put the gas $$$ in the boat.

Formula Outlaw · 07-16-2006, 10:43 PM

Quote:

Originally Posted by chuck21401

The 353 with 500HPs and 200 hours sure sounds very nice.

I edited my first reply to your thread. My first thought was "buy the big boat" but then I thought more about what would I do and then about my situation.

I don't like taking out big loans to finance toys. To me a big loan would be $50K+. I could sign up for a big boat loan tomorrow on a newer boat. But personally I'd rather have smaller payments on an older well maintained boat with some money in the bank in case something comes up. Something always seems to come up where I need cash for other things like fixing cars or the house or property taxes or jewels for the wife or other stuff that I don't want to spend my money on. In my short time in the working world I've found that positive "cash flow" is very helpful. Something always comes up.

For several years I had a 18 Sea Ray. My old man bought it for me right after college for like $3K. Like he told me at the time, "you'll have just as much fun with this boat as a new 18ft Sea Ray." I paid for the gas, insurance and storage and ran the thing every weekend from May to October for 7 years. In Sept 2003 I sold it for $2K.

I told him I was looking at a bigger boat with twin engines. His advice was to buy a center console for cash and if the economy turns to sh*t I could park it in the yard and put a cover over it. He's more conservative than I am, but at the same time I'm not going to stretch far to buy a boat. It sure was nice having a boat that was paid for.

Gas prices are making me nervous but I think they will come down a bit over time. Who knows what will happen in the world. I worry a little bit about it but I can't be preoccupied, life it short and there is an element of risk in every aspect of daily life. The trick is deciding how much risk you want to take.

Older boats do need attention from time to time. Russ with your boat it sounds like you've worked out all of the issues and have made it your own.

When considering the 353 I think you need to think about the real costs rather than the $55K. Let's say you have the boat for three years and decide to sell. How much would the boat depreciate? That's how much you will really be spending. Figure that fuel, insurance, etc. and other costs will be a bit more but if you keep Outlaw you'll have those expenses maybe a couple $$$ more per year or they could be a wash. The 353 will cost more in fuel and insurance but perhaps less in repairs. Then the real issue becomes cashflow, will another $500-700+ monthly payment fit into the budget? If you can afford it that's great. But I'd hate for you to be in a position where you are making those big payments and when it comes time to run the boat you decide you don't want to put the gas $$$ in the boat.

Thanks, you have made some very valid points. Outlaw is now at the point where "repairs" are not much more than basic routine maintenance, in the time I've owned the boat I've been through just about everything there is to go through.

Motors don't burn oil and show fine compression and leakdown tests. Brand new exhaust system, one outdrive completely rebuilt, brand new propshaft and all new seals on the other, new Racorp fuel/water seperators, new batteries, the list is endless.

I made a verbal committment to a gentleman to sell him the boat. If this gentleman wants the boat it's his, I did make the committment and too many people don't honor committments these days, I do NOT want to be known as a member of that group.

So I will sell Outlaw and then decide what course of action to take.

Thank you for your comments...

Expensive Date · 07-16-2006, 11:07 PM

Trust your instinct If it doesn't feel right it probably isn't

mopower · 07-16-2006, 11:13 PM

"Paid for and Nice" always trumps newer and bigger

propwash · 07-16-2006, 11:33 PM

Outlaw, I think your doing the right thing by slowing down and thinking this deal through a little more. I too also own a 311 and are very happy with it even though I have spent a fair amount of money on it as well. Like you said, it's your own special boat. I have though what I would replace it with and 353 and 382 are probably a likely replacement. But for me the way things are going with work world economy, gas and my income I just don't see it for now. I guess if it were me I would wait, save some more money and opp for the 382 down the road, there just not that much more in money but a good step up from a 311. I boat with a fiend that has a 382 and it is a very nice boat but it comes at a price difference I'am not ready for. Maybe your thinking the same thing with this 353? Personal decision for sure, take your time and feel confident with your decision. Good luck and keep us posted. Propwash.

Formula Outlaw · 07-17-2006, 07:37 AM

Like I said, I made a verbal committment to sell it to one individual and I will honor that committment.

I guess the crap going on in the middle east, and I don't think that is going to be a quick fix, has got me a little nervous. You know damn straight that gas is going to shoot up, my skin Dr. is on my ass HARD to get out of boating, so I'm going to go ahead and sell Outlaw to someone who will take care of her like I did, and regroup......