Boat ='s what percentage of annual income?
04-25-2010, 12:32 PM
#61
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The problem with these scales, is that rarely is geographic location taken into account. For example, it costs A LOT more to live in CT than say, AR.
04-25-2010, 12:33 PM
#62
JB Marshall
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If you buy a boat that you must worry financially if you can use it because of the cost of; maintenance, fueling it (especially at today's fuel costs), fixing it when it breaks (not if but when), paying for a slip & winter storage if needed then you are buying to much boat.
04-25-2010, 12:33 PM
#63
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500k last year
2000 baja 25 outlaw
paid cash 3 years ago
spend about $10,000 per year in gas, maintenence, repairs, insurance, depreciation, etc
boat about 50-75 hours per year
so about 2% of income spent on boating
Last year had to replace engine in boat at a total cost of near $10,000 was a hit but not a deal breaker
I would DEFINATLY say that the cost of owning a high performance boat is in the maintainence, repairs, gas, insurance, depreciation, etc. The cost of the boat is not nearly as important. Start out small and work your way up. You will learn SO MANY costly things when boating. And having a $200k boat means your going to learn all those costly mistakes at a much higher level. Your better off learning them on a cheaper boat. Once you feel comfortable and are acustomed to the costs of owning a $50k boat you can decide and work your way up from there.
2000 baja 25 outlaw
paid cash 3 years ago
spend about $10,000 per year in gas, maintenence, repairs, insurance, depreciation, etc
boat about 50-75 hours per year
so about 2% of income spent on boating
Last year had to replace engine in boat at a total cost of near $10,000 was a hit but not a deal breaker
I would DEFINATLY say that the cost of owning a high performance boat is in the maintainence, repairs, gas, insurance, depreciation, etc. The cost of the boat is not nearly as important. Start out small and work your way up. You will learn SO MANY costly things when boating. And having a $200k boat means your going to learn all those costly mistakes at a much higher level. Your better off learning them on a cheaper boat. Once you feel comfortable and are acustomed to the costs of owning a $50k boat you can decide and work your way up from there.
04-25-2010, 01:59 PM
#64
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Maybe I articulated it wrong but I bought after the turndown, just a couple months ago.
04-25-2010, 03:21 PM
#67
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... just do what you're comfortable with.
04-25-2010, 03:23 PM
#68
JB Marshall
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This thread is just killing me! WTF do you guys do with your money that it's questionable whether or not you can own a boat on 300k 500k or even 100k a year. According to the scales being thrown around here I am in the low income bracket, yet I have no trouble maintaining my boat. I own a home, take trips, etc... And I am saving for retirement on my own, no employer hand outs for me. So please give me a good reason why this is such a hard decision for some of you? My guess is that you don't really enjoy boating, you just think you want a boat? Just my .02
I think I just found my new financial adviser.... Geez NKissau who pissed in your cup of coffee this morning, loosen up. We are just having conversation.
04-25-2010, 03:27 PM
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04-25-2010, 03:57 PM
#70
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As far as financing goes - If I had a huge savings account I would still have the boat financed. It is on an equity line at 4% I believe which after taxes is 2.5%. So the interest costs me 1200 bucks a year - that is cheaper than 1 poker run (fuel and liquor costs).
