You're also overlooking a big factor in the hourly operating cost and overall usage in the same period of time. Figure 25,000 miles on the average car a year. A couple hundred hours on the boat, or trip wise, even if you're out every weekend for a 6 month boating season that still is only around 25 trips or so a summer. Now figure in what the boat costs for the time you're not using it in finance (where applicable), insurance, storage, and maintenance costs. That will skew it off the boat even more.

Either way you are financing a depreciating asset..hence the current fiscal deficit our country is in, you simply cannot finance short term fun with long term payments. Back to the credit thing, I would bet the majority of people that are in financial problems pay for perishable things with credit, after its gone, the bill remains (excepting business expenses gas/oil food etc that are paid monthy per business)
However in comparing the car vs boat, you have to look at miles vs hours, the amount of miles on the car for 365 days per hours on boat. I agree with you in theory, but realistically they arent comperable... The car would usage would far outweigh the boat...Rob

I've moved to the other coast. I live in Deland, which is about 20 miles west of Daytona.

I could have paid for my boat in cash when I purchased it for $65K, but I choose not to tie up the money in the boat. I used the money for an investment (property). I am financing the boat......I figured I would never have it long enough to pay it off (15yrs) so borrowing the money through a loan is the way to go for me. I send a payment every month and that's it. My money is well spent on property than the boat for investment purposes.

I also think a boat and a car are poor investments. They both depreciate like crazy. A car is purposeful (going to work, etc...) and a boat is leisurely (high maintenence)
Generally speaking, a car is a must, where a boat is not. I would rather buy property or the like and finance my boat and car.

Boats are not a necesity (okay maybe), and are expensive, but I've had some of the best times of my life boating. As long as I can afford to have a boat, I will have one and enjoy it.

Don't forget to factor in the potential of writing the interest off if the boat qualifies.

Not for everyone but a consideration in determining the actual cost and ROI.

Do you guys think there is a select few boats that will stop depriciating? For example a well maintained old 27 Magnum, a classic Donzi or in my case an 85 Cigarette 28 ss. I bought the boat in pretty good shape for what I believe is less than market value. I will continue to put money into the boat but I believe even in a few years when I sell it, I'll be able to sell it for more than I originally paid. Of course I wont get the money I put into it but I think the boat in very good, turn key, well maintained condition will not continue to depreciate. Is this just wishful thinking or is there some truth to this?

Any hobby is expensive, but you can't put a price on what you get out of them.

Whether you finance a boat, pay cash for it, it does'nt really matter. If it's something you love to do and get enjoyment out of it then do it. 20, 30, 40, years from now, the memories and friends you've made, the time you've spent with your family will matter more than the money.

I've never looked back and said to myself if only I would'nt have went on that vacation, or bought that boat, or motorcycle and invested that money my bank account would be bigger than it is. There have on occasion however been times when I wished I would have tried something but did'nt.

I was just getting ready to say this......I want to go boating, I work to be able to have toys, my debt ratio on home, truck, boat, etc is 22% of annual income. I don't work for the love of it, I work hard to be able to play hard.

EXACTLY!! It's a second mortgage....another $10K in interest to write off!!

15-25K for a 1990 Baja?? If you'll buy that I've got some oceanfront property in Arizona I would like to show you