done boating revision 1
11-19-2007 | 07:12 PM
#22
Registered
Joined: Apr 2006
Posts: 457
Likes: 0
From: Pasadena MD
I've also owned boats since I was a kid, with the pink slip for several 8 footers when I was in elementary school, for a 27 footer when I was a freshman at University, many many other boats, and now, a 32 Fountain. I've also been master on multi-million dollar boats that others have owned, and many of my close friends own boats, so I see how much they spend. I'm 50 now, so that's a lot of boats, in a lot of oceans, for a lot of decades.
If you use your boat: The rule of thumb is you should expect to spend 10% of the new boat cost (not what you paid used) each year. Some years less if you are lucky and/or you are delaying maintenance. Some years more. 25% will happen probably 1 or 3 times per decade.
If you are passionate and particular about your boat, you may find -- like I do -- that the typical yearly budget is more like 20% the new price of the boat, and the high years are more like 35%.
The costs of owning a boat, from cheapest to most expensive:
1) The girls
2) The booze
3) The payments (or cost of lost opportunity when you pay cash)
4) The fuel
5) The depreciation
6) The maintenance.
If its a sailboat, then the cost of sails is number 7: a sailboat has exactly all the same costs as a powerboat, but more.
If you use your boat: The rule of thumb is you should expect to spend 10% of the new boat cost (not what you paid used) each year. Some years less if you are lucky and/or you are delaying maintenance. Some years more. 25% will happen probably 1 or 3 times per decade.
If you are passionate and particular about your boat, you may find -- like I do -- that the typical yearly budget is more like 20% the new price of the boat, and the high years are more like 35%.
The costs of owning a boat, from cheapest to most expensive:
1) The girls
2) The booze
3) The payments (or cost of lost opportunity when you pay cash)
4) The fuel
5) The depreciation
6) The maintenance.
If its a sailboat, then the cost of sails is number 7: a sailboat has exactly all the same costs as a powerboat, but more.
11-20-2007 | 11:20 AM
#23
Registered User
Joined: Oct 2006
Posts: 557
Likes: 0
From: West Hills, CA & Lake Havasu
Try aircraft......
I do aircraft also. Same drill. Expensive!!
Carcrash,
I never thought about the formula that you have stated, but you are right, that is about what it costs. That is good information when thinking about an upgrade, what it will really cost to run and maintain a given boat.
Thanks for the info.
David
I've also owned boats since I was a kid, with the pink slip for several 8 footers when I was in elementary school, for a 27 footer when I was a freshman at University, many many other boats, and now, a 32 Fountain. I've also been master on multi-million dollar boats that others have owned, and many of my close friends own boats, so I see how much they spend. I'm 50 now, so that's a lot of boats, in a lot of oceans, for a lot of decades.
If you use your boat: The rule of thumb is you should expect to spend 10% of the new boat cost (not what you paid used) each year. Some years less if you are lucky and/or you are delaying maintenance. Some years more. 25% will happen probably 1 or 3 times per decade.
If you are passionate and particular about your boat, you may find -- like I do -- that the typical yearly budget is more like 20% the new price of the boat, and the high years are more like 35%.
The costs of owning a boat, from cheapest to most expensive:
1) The girls
2) The booze
3) The payments (or cost of lost opportunity when you pay cash)
4) The fuel
5) The depreciation
6) The maintenance.
If its a sailboat, then the cost of sails is number 7: a sailboat has exactly all the same costs as a powerboat, but more.
If you use your boat: The rule of thumb is you should expect to spend 10% of the new boat cost (not what you paid used) each year. Some years less if you are lucky and/or you are delaying maintenance. Some years more. 25% will happen probably 1 or 3 times per decade.
If you are passionate and particular about your boat, you may find -- like I do -- that the typical yearly budget is more like 20% the new price of the boat, and the high years are more like 35%.
The costs of owning a boat, from cheapest to most expensive:
1) The girls
2) The booze
3) The payments (or cost of lost opportunity when you pay cash)
4) The fuel
5) The depreciation
6) The maintenance.
If its a sailboat, then the cost of sails is number 7: a sailboat has exactly all the same costs as a powerboat, but more.
Carcrash,
I never thought about the formula that you have stated, but you are right, that is about what it costs. That is good information when thinking about an upgrade, what it will really cost to run and maintain a given boat.
Thanks for the info.
David
Last edited by Dkahnjob; 11-20-2007 at 11:22 AM.
