LaughingCat

I'm a firm beleiver in paying cash for big ticket items. Have longed for a 36-42' Skater/Nor-Tech/Spectre Cat with canopies. i just can't bring myself to finance a purchase like that. Instead, i went and bought a decent family boat - 30' Scarab Sport. My intention is to get a sweet pad on teh water in the next 1-2 years, taking advantage of the soured real estate market. Then, with the family satisfied, we'll get the over-powered Cat.

My question to all of you is, who paid cash for their super boats and who financed most/all of the purchase. I'm curious if the current economic slowdown has hampered your lifestyle bacuase of large payments on the toy.

jayboat

iTrader: (1)

As soon as I'm finished printing it, I plan to pay cash for my Skater.

Ona-Mission

Good plan... I financed... money was too cheap. Do what make ya feel good. One question???? Does "family Satisfied" mean that you are new to the family thing? Hope your wife feels the same as you. My Girlfriend (now wife) told me that she could help make the payment on a boat. I told her that she can tell people it's her boat also, but only if she recognizes I'm buying without her help and she has no say in any final decisions. We should stay together for a long time.

scottw

iTrader: (1)

Why pay cash for a big ticket item. Invest that money and let it work for you. Use the banks money. Just my 2cents worth.

Ona-Mission

can I borrow the plates when your finished? I found an Apache I would LOVE.

LaughingCat

I'm a buy-and-keep person. Also, own a large financial planning practice and work with clients on paying down debt as they built towards, enter and sustain retirement. Being debt free at 36 years old with plenty in the investment accounts and plenty of 'tangible assets' allows me to sleep at night regardless of what the political hacks do with our country.

Having the family satisfied means we get the big house. We sold our starter home a few years ago, moved into a sweet, new 3 story town house in Hyde Park. You could say my rent is subsidized. The owner is terribly upside down, cannot sell it and the market for rents doesn't allow her to fully cover teh big payments, fees, taxes and insurance.

So each time we are out on the boat and one of you knuckle-draggers blows by in your Skater or Nor-Tech, she knows I'm dying to move up. But ther is something to be said for having your own house to install the lift behind. right now, I installed it behind my father's place.
(He couldn't understand why i bought a 13,000# lift for this boat. When i wake his geriatric neighbor at 3AM with my 42' of liquid adrenaline, he'll get the point.)

In the meantime, I do wonder if our beloved sport will see further declines because of bad financing before recovering. for me, I look forward to someday stroking a fat check to buy the boat.

mmareno

I did some financing and will use some "Play Money" out of the sock drawer.. I would finance the whole thing like one of the other members said but I wanted my payment to be manageable if something was to go south in my business!!

t500hps

I never know what my income will be from one year to the next (business owner). I feel I must have the toys completely paid for so I don't have to sweat payments during bad years (like 2008).

midwest272

Dam by Thur. I'm putting my beer on a credit card.

Carguy08

If i go down!!! Im going down in Flames!!! Nuff said!