J.B. Marshall

Boating is a way of life. If you like that life style then you pay. Plain & simple. I spend way more money on maintenance/upkeep (I'm more anal than most) vs time and use of my boat here in the Northeast. But it's my choice of a hobby and what I love to do among some other pleasures in life. I have no regrets and will continue to indulge as long as I have the means to do so.

Boat on

DYVMASTER

I like this post especially since although I have been around boats all my life and actually made it my life (Im a Merchant Marine Engineer) I very recently bought my first boat ever as an owner..because of the money I had to spend I bought a 1987 Formula SR-1 F-311 with twin 420hp 454s! The boat has good bones and the engines are strong with only 370 hours on them! I do wish the asthetic upkeep would have been better but if that were the case I would have had to pay more for the performance I wanted! So using my knowledge..some elbow grease and yes..I was aware before I bought her..some money (Isnt the definition of a boat a hole in the water you throw money into) I will bring this old girl back to life and better than the day she first hit the water!
That being said..there is one important thing nobody in this thread has mentined..and thats the pride when youre sitting on the sunpad with a cold beer looking at where she is now from where she started and knowing it was you that breathed life back into her..especially when someone asks you 'WHAT YEAR IS THAT AGAIN' and you start to point out all the blood sweat tears and upgrades you have done over the years! That to me is better than writing a check for a brand new boat!

drpete3

So what about a 01 top gun that someone could get say for 125k. if youplan to own it for four years is a guy going to b better off buying an 06 for 200k? could the overall cost of cost at the time of the sale be about the same? I bet it could be close

87MagnumII

im with you all the way!!
bought mine from craigslist, it was a basketcase for sure.
probably paid to much but i was excited to get a boat and bought the first thing that fit my needs. since the purchase it has had all new steering cables, throttle cables, shift cables,engine, upholstery, outdrive redone, buffed and waxed, new floor and stringers, the list goes on.

do i have more in it than its worth?? damn right i do, BUT, i have learned a lot about doing my own work along the way and have an appreciation for it everytime i use it. plus the fact i couldnt replace it new for what i have in it and cant afford a new one makes it worth it to me. boats are not investments, they are toys, we need to put down the calculators and go have fun!!

soldier4402

Dont understand what you are saying. if the 01 and 06 are relatively in the same shape has the same hours etc I would say the 01 is the better deal. You would lose more at sale on the 06. Boats like anything else take a hit on depreciation the day you took it off the lot at about 5 years 10 years and really around 20 years. The 01 already took its ten year hit. The 06 is due for its major hit in a few. If the market continues the way it is going that 06 would probably kill you in another 4-5 years

ThisIsLivin

Working on my boat is therapy! I'd go nuts if I didn't have something fun to work on. I have a 1998 Velocity 280 I bought in 09 with 50 hours on it. I don't think there is a screw or wire in the whole boat I haven't touched. I wouldn't have any other way, I look at it as an erector set for men.

Dave M

I justify my expenses like this.....

I can take my family to the movies......$75-100, including popcorn, etc.

I don't play, but I know golf probably costs $50-100 a round. That doesn't include the family.

Amusement park, $200-300

Weekend getaway, $300+

I like to buy boats < 5 yr. old for 50-75% of new cost, finance no more than 50% of value. This way I can usually pay it off before it needs MAJOR expenditures. Of coarse, I know chit happens and that plan can go right out the windows if I loose my drive or motor.

drpete3

meant to say overall expense could be about the same. Had a few beers last night. haha

I think the 06 will have a higher payment but could have much less in miant expense. I need to think about this subject some more.

soldier4402

Lol I was like uhh WTF. But yeah you could be right assuming the 06 was in a better state and the 01 wasnt. But assuming same shape and hours the 01 should be more cost effective.

boomer

Lets face it we should never add up what it cost do to something we enjoy. Its a now iwin situation used versus new pay me now or later. I enjoy being on the water.