The secret is you have to spend less than you make. Otherwise, you won't get to stay in the game for long.

10% rule is actually about right on and I would say figure 10% of purchase price not nada value after 10 years of owning it. We have had our Apache for 10 years this September and if I went back and added up the receipts for insurance, maintenance, and upkeep it is more than we actually paid for the boat. Luckily we still enjoy the boat as much as the day we bought it so we will continue to spend money on it and enjoy it.

It's all relative but the 10% rule seems to come out pretty close and if you get by cheap for a few years you will have a $30k repair the next lol. Live beneath your means and it won't be that big of a deal. Life is too short to not enjoy it!!

Of Life?

That's why I have a very nice OLDER boat, all my boating is paid for cash, no credit, boat is paid for, new engines paid for cash, the boating on weekends are paid for cash, if cash is tight I do less, if I have more I do more, I build my own stuff, clean myself, tow it from home every weekend and drop it in, store in my yard, plan to build a building next year to house it...

I could easily afford more if I wanted to use credit, but I like to live where I could park boat if something happened and not be forced to sell it, many guys go in over their head and get into trouble... I give up other things to afford this with no issues like big family vacations, trips to other lakes/poker runs, things like that, I stay in all winter and barely drink or go to bars, it's all in how you want to stay financially safe....

Took 5 years, a lot of waiting, spent cash on it when it was disposable, dealt with a lot of headaches that a project produces over time, had a lot of people involved along the way to help.

I could have never bought it outright at the time, but spending along the way made it possible. At times it had to sit idle because I just didn't have the means to do what I wanted, when I wanted. Some sacrifices along the way.

10% maintenance cost on price of purchase seems pretty close. BUT, the higher the output/horsepower, the higher the bills are, probably exponentially.....

lots of work and cutting other hobbies. I stopped spending 3-5k a year deer hunting and other things. but for work...
day job- family construction company

side job- ornamental iron work, build copper stove hoods and hang 1/2 round gutter, opps crew for 5k, 10k, 15, half marathon and full marathon also triathlons \

non paying jobs, VP of tickfaw 200 and St. Jude poker run

Well, your estimated cost on that one will go down as it's not required to have registration
Watercraft exempt from registration are:
•Those 16 feet or shorter, propelled by oars or paddles, and not used for rental or commercial purposes;
•Nonmotorized canoes and kayaks not used for rental or commercial purposes, rafts, surfboards, sailboards, and swim floats, regardless of length; and
•Watercraft registered in another state and used only temporarily in Michigan.

However, one ticket for no pfd could be a real kick in the knutesens...

So I'm in the young (28) with a performance boat category and here is how I have done it. I bought a home in 2012 when the market was just rebounding and got a killer interest rate via FHA loan. My education was paid for, and that was a huge burden that I'm very thankful to not have to pay for. I own everything outright with the exception being the boat and my wife's car. Have one kid and baby number 2 will be here tomorrow. Most kids my age are driving some flashy new car that costs similar money to my boat. I bought myself a 4 door wrangler when I was still in college and paid it off a while back. For me it was a lifestyle choice. I go without a car payment and that allows me to have a boat payment. We use the heck out of the boat (although a bit less this season due to baby 2) and sure enjoy having it.

Edit: I am a government contractor doing logistics. Guess that part might be important? Don't have a trust fund or make retarded money.

A few different ways.

1. Inheritance, Lotto, things handed down.

2. Some people work hard get an education and just make big bucks.

3. People sacrifice some things for a nice boat, or do smart shopping, my last fountain was less than 30k 6 years ago. A 30k boat just about anybody can do.

4. Some people are dumb, ive seen people take out 15-30 year loans on boats here. To much credit, live in a tent but have a 100k boat. etc

5. Some people are a combination of a few of things.

I agree that's nuts, and very high end. a 30-40k boat for 5-7 years on a note will run you 5-600 a month. Insurance another 500-1000 a year. Winter storage 1000 a year, annual maint(DIY) $200. Do the math eaily 1000 a month or less with a note. Of course if your going the marina route etc add more. My last 29ft fever I bought cash for 26. Insurance was 400 a year full coverage, stored it at home under a lien to, annual lube and filters was around 150 for twins. Registration was 50 bucks for 3 years. Gas was use dependent. really wasn't that much

Was actually doing some online window shopping last night. Really at any budget you can be in. an older 25-30foot boat with twins you can be in it for 15k or less, or a newer 22-24ft performance boat usually less than 20k. In fact we have a nice 87-88 271 Formula with twin 350 rebuilt around here for sale, nice shape, 14-15k. I doubt that boat long run cost you any more money than a 22-24foot four wins. So you pick a budget that can be had and youll be fine. Sure the 35-40ft boats with big power will cost you. Even on a non economy budget say less than 50k, things are very doable.