Re: is your boat paid off or on a loan ?
 

paid for .... but still not completed... pay for parts as i go...in the end it will be worth it...

but , with the market going south on pre owned , i shoulda saved $$$ for the past few years and could be into a newer , larger vessel....at the same price i'm in right now ...

dam crystal ball always in the repair shop when i needed it..

Re: is your boat paid off or on a loan ?
 

Paid for my first boat took out a 15yr loan paid off in 8 paid. durango paid for, honda paid cash, boat paid cash, I owe on house and wife's 300cawd

Re: is your boat paid off or on a loan ?
 

Both Paid For. I Wouldn't Have It Any Other Way

Re: is your boat paid off or on a loan ?
 

I have mixed feelings on the subject. We paid cash for our boat and all the work we've invested in to it over the last 5 years. I always say that i'd never do that again, but then I look back at all the fun we've had using it. I guess it just depends on how important a boat really is to each one of us.

I have a hard time justifying spending a half a mill, or even $250K, on something that's just gonna be worth less and less each year, when I can invest the same $$$ and conservately earn 15% or better on it each year. :(
Now I feel like I'm starting to talk like my father did before he passed away several years ago. :rolleyes: He told me the older ya get, the wiser you get, or at least you should. :eek:

Now, would I do it again????????? Of course I would. :D

Re: is your boat paid off or on a loan ?
 

everything i own is paid for which isn't much compared to most of you guys but i hate paying interest and i have always lived within my means. ill use a small home equity loan to pay for the next boat and make large payments against it while i have it. I'm a firm believer that if you keep most boats more then a couple of years you will start losing money on them.

Re: is your boat paid off or on a loan ?
 

For me liquidity is the key....I am returning greater than 50% cash on cash this year.....Try that with 200K+ tied up in a boat....

I think it also matters if you are in WEALTH CREATION MODE or WEALTH PRESERVATION Mode. In my world WC= leverage, WP= cash....As for me I am a WC man...

Re: is your boat paid off or on a loan ?
 

ANY FINANCIAL EXPERT WILL TELL YOU THAT IF YOU CAN'T AFFORD IT ON A FIVE YEAR NOTE YOU SHOULD'NT DO IT. THE FIRST 12 OF A 20 YEAR NOTE IS 95% INTEREST. I PAID FOR MY 37 OL CASH BUT I LOVE IT SO MUCH THAT I WOULD TAKE A 30 YEAR NOTE IF I HAD TO. :eek:

Re: is your boat paid off or on a loan ?
 

What are you doing to earn 50% on your cash?

Re: is your boat paid off or on a loan ?
 

you guys are lucky to have your interest on houses deductible. In Canada, we don't. But we have other good things you don't, like free health care ( I hope I have the right words...)

Re: is your boat paid off or on a loan ?
 

YEAH DUDE TELL ME TOO !!!!! :drink: :drink: