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Boat Buying Expenses?

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Old 01-25-2006, 02:06 PM
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Default Boat Buying Expenses?

Aside from the actual cost of the boat, what other expenses can I expect to incur. I've had other smaller (around 20 feet) boats before, but I'm seriously considering purchasing my first go fast (35-38ft). So I know I'm gonna get hit with a few grand for insurance, I plan to document the boat with coast guard (how much?), so is there a way to avoid state sales tax if I'm buying a used boat out of state? Aside from storage cost which varies by location, is there anything else I should be budgeting for?

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Old 01-25-2006, 02:14 PM
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Default Re: Boat Buying Expenses?

If its considered hi-performance, oil changes every 10 hours. Even if you do it yourself, it adds up.
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Old 01-25-2006, 02:52 PM
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Default Re: Boat Buying Expenses?

BUDGET ??? :gas-200$ to 20,000$ a year depending how much you boat,a twin engine boat needs to be fed! Tow vehicle capable of towing it or slip /dockage fees,depending on if new or used-maintenance/motor and drive repairs if not under some kind of warranty. A good friend of mine who owns a boat repair at a yacht club always says plan on 10% of the price of boat in repairs/maintenance/gas-ie a 200,000 38 ft boat is 20,000 a year to feed gas to and assorted maintence and repairs unless you bought a brand new one under warranty then it would just be gas,oil changes,launch fees,storage,dockage or slip fees. If you buy a 5 year old boat be prepared to rebuild a motor if it breaks down or replace a drive if it breaks 5-15,000$ unless you get BIG motors or # 6 drives,Smitty
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Old 01-25-2006, 03:02 PM
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Default Re: Boat Buying Expenses?

If U don't have the stuff from previous boating, U have life jackets, anchors, lines, bumpers, flares, tools, push/pull poles and other safety and functional items! Wrink
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Old 01-25-2006, 03:14 PM
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Default Re: Boat Buying Expenses?

10% is a good rule of thumb, you may be a little less, but if you use it, you'll be close to that. (2 stock 502's and I spent $4,500 on fuel alone last summer running 75hrs.) Storage costs will add up if you don't trailer it like alot of my buddies do. maintanence more than doubles in frequency and probably tripples in material costs from your previous single.
But DAM it's fun to cruise at 55mph and skip along 3-4 footers!!!!!
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Old 01-25-2006, 05:43 PM
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Default Re: Boat Buying Expenses?

You should budget for a damned good paying job because this go-fast chit just keeps adding up.
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Old 01-25-2006, 05:49 PM
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Default Re: Boat Buying Expenses?

All the stuff that you have to buy for the wife to make up for the purchase
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Old 01-25-2006, 06:30 PM
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Default Re: Boat Buying Expenses?

Quote:
Originally Posted by Audiofn
All the stuff that you have to buy for the wife to make up for the purchase

Amen to that!
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Old 01-25-2006, 06:58 PM
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Default Re: Boat Buying Expenses?

and ,,,,, dont forget to figure a plane ride ,, overnite at the Hilton,, and a Limo to have Mr. Ed come and survey the boat!!

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Old 01-25-2006, 07:13 PM
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Default Re: Boat Buying Expenses?

Survey is a must if buying used.
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