I've financed boats, but it was after the mortgage was paid off. My thought process is like this- if I get smoked today by a city bus or a carjacker (perils of Detroit), all my wife has to worry about is paying the property taxes and utilities. The boat can get sold, I don't want the next guy living off my life insurance AND driving my boat!

Finance it, you will need the cash to keep it running

This

I say spend the banks money, not yours! Keep the pile of cash in your closet, and borrow the money from the bank. If it all goes bad, let the bank take "THEIR" boat when your tired of it or it aint worth **** anymore!
Mean while, back at the BAT CAVE...you still got your cash!

I just bought a boat a few months ago for 54.000. I had the cash in the bank to pay 100% for it BUT chose to use HELOC instead of emptying my savings, I have several other toys including my old boat that when sold will pay for boat 100%, and could walk in bank anytime and just pay off the loan, been debt free for years. All was good till I paid first payment and saw that I was paying 200+ $ interest (which I new going in) which just burns my azz !! Been paying 4000 a month on it instead of the 420$ payment to kill the principal and interest quickly, Smitty

Id rather buy a few years old for cash. Over financing a new one, loosing a couple $100k or more on depreciation and interest payments. Is it really worth several hundred grand to have a brand new boat? Financing used isn't as bad. Sort of goes to my definition of a millionaire. Sure you can be worth a million on paper, that's very easy here when the average house sells for $800k. But too me a real millionaire is someone who can spend a million dollars and not worry about it. Can you spend the money worry free? If you can't, consider financing or budgeting more realistic.

lol that's a good one Kreed and your credit is only a mess for a few years. Me I always paid cash. I have had some bad luck over the years. Had my 1st knee surgery in 79. Was out of work a year then bike crash in 83 another year then out 2 years from 88 to 90. Then a year in 99 knee surgery. Then from 04 to 15 to last week had 8 surgeries. So for me paying house and taxes was 1st. Toys cash only. Still have both boats, Baja is still apart from when *******s stole my drive and parts from 07, during one of my many surgeries . plus wife lost her 6 figured job 2 yrs ago. So loans would not have worked for me. Even putting money in the market backfired well on one stock. A person from here said a stock looked good to throw money at it. I did it went up, and 3 months later it crashed, on the only day I was not watching it. lol I lost 15,000 that day. I have recovered with others. So if its me cash is king If I get hit by a bus going to get my stitches out., my wife can sell both boats and parts. plus life insurance hahaha

Couple diff ways to look at it, if you use their money for 15 yrs at 3.99%, depending on what the payment is you can always pay more on the principle to eliminate it in 7 which would yield and effictive rate of about 1.99%. a simple amortization chart could tell you that. if you do it as a heloc as mentioned it is tax deductible as a 2nd mortgage.

I got 11 of the 20 years under my belt. Maybe one day I will own the banks boat!!! For me it was "whats the monthly payment". I went from looking at a 29' to buying the 370ss new with the "blue engines" at 25 years old. It was a big risk, this was before I owned a house. Loved every minute so far

If you can cash!Only plus to financing is the bank will research and make sure title is clear.Almost closed a deal on a Fourmula mint boat but then common sence kicked in they go fast but don'rt last