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Joined: Jan 2017
Posts: 2,602
Campfire Regular
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Campfire Regular
Joined: Jan 2017
Posts: 2,602 |
Wow....$100k for a $50k boat that really isn't worth $30k. Makes sense
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Joined: Dec 2013
Posts: 13,089 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,089 Likes: 2 |
Parents first off must fill that role. Most of todays parents do not do that. We had business classes in HS where we learned to balance a checkbook and read Stock Reports. Kids don't have anyone to teach them economic sense and have them understand debt is slavery and that there are all kinds of vultures out there that are willing to financially enslave you and pick your carcass clean. Half the parents are broke because of credit cards and foolish crap like this 20 year boat loan, so they are not good examples. School teachers can't teach it because most of them have abysmal credit. If you want some really bad advice go to a professional counselor. My mother in law worked at the local mental health clinic and most of those highly educated folks were broke as the ten commandments. And overspending is a mental problem. One thing my father advised me when I got married was that if I could keep from having money trouble I would have a lot less other trouble. An old great uncle worth a million (8th grade education) told me to never take advice from someone who is not successful. There are 2 kinds of people in the world, those that pay interest and those that collect interest.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Aug 2002
Posts: 37,912 Likes: 2
Campfire 'Bwana
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OP
Campfire 'Bwana
Joined: Aug 2002
Posts: 37,912 Likes: 2 |
There are 2 kinds of people in the world, those that pay interest and those that collect interest. Worth quoting.
"...if the gentlemen of Virginia shall send us a dozen of their sons, we would take great care in their education, instruct them in all we know, and make men of them." Canasatego 1744
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Joined: Sep 2014
Posts: 21,832 Likes: 4
Campfire Ranger
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Campfire Ranger
Joined: Sep 2014
Posts: 21,832 Likes: 4 |
There are 2 kinds of people in the world, those that pay interest and those that collect interest. Worth quoting. Yeah but........ Ya gotta watch for those advisors he mentions. They advise paying and collecting interest. A game that sounds good, and works good, until it don't.
Parents who say they have good kids..Usually don't!
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Joined: Jun 2006
Posts: 16,394 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Jun 2006
Posts: 16,394 Likes: 1 |
I only buy new things if they make me money.
My kids have just as much fun on our 20 yr old ski boat.
Paid cash from an old friend of the family. Same with my travel trailer. I don't feel the need to keep up with the Jones. I absolutely hate monthly payments!
Outlr school systems really need a mandatory class on balancing a budget and how credit works for or against you. Parents obviously aren't teaching it. They used to have those classes in HS, evidently they didn't want people to vote Republican anymore when they dropped them. Who needs to be taught to earn money if you are going to buy something? Who needs to be taught to not spend more money than they have? Only an idiot can’t see simple economics! Parents first off must fill that role. Most of todays parents do not do that. We had business classes in HS where we learned to balance a checkbook and read Stock Reports. Besides the old lady that takes forever to write a check for groceries who the he!! still has a check book?
I've always been a curmudgeon - now I'm an old curmudgeon.
~Molɔ̀ːn Labé Skýla~
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Joined: Sep 2003
Posts: 23,464 Likes: 7
Campfire Ranger
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Campfire Ranger
Joined: Sep 2003
Posts: 23,464 Likes: 7 |
There are 2 kinds of people in the world, those that pay interest and those that collect interest. Worth quoting. Balance. Nothing wrong with paying some interest if you are living an enjoyable and fulfilling lifestyle. Don’t be the guy who decides to start living after you retire. It takes decades to become proficient in the outdoors and of you want your grandkids to go with you, you better be good at it.
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Joined: Mar 2007
Posts: 12,632 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Mar 2007
Posts: 12,632 Likes: 2 |
There are 2 kinds of people in the world, those that pay interest and those that collect interest. Worth quoting. Yeah, heard that before. My version is “There’s 2 kinds of people in the world. Those that believe there’s 2 kinds of people in the world and those that don’t.”
“When Tyranny becomes Law, Rebellion becomes Duty”
Colossians 3:17 (New King James Version)
"And whatever you do in word or deed, do all in the name of the Lord Jesus, giving thanks to God the Father through Him."
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Joined: Mar 2012
Posts: 6,519
Campfire Tracker
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Campfire Tracker
Joined: Mar 2012
Posts: 6,519 |
It's pretty silly to buy a brand new boat when it's so easy to find one that's barely been used for a fraction of new cost. But I have done it when I was young and dumb. Also silly to buy a toy you cannot afford and so must pay interest also. Spent about half my 80 years living on boats. My present boat, a 43' twin diesel, I bought used for cash (less than that 19') and it will be my home, as have been other boats in the past. It's somewhat easier to rationalize the cost if you live aboard. Though it is not for everyone. ![[Linked Image from i.postimg.cc]](https://i.postimg.cc/Y9H5hKqg/IMG-0827.jpg) That's what I'm planning. Looking at a used 41 foot twin diesel with aft cabin and only 600 hours on the engines for less than the cost of a new F-150.
"And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor." ![[Linked Image]](http://www.rockymtnrefl.com/TetonFenceBarncd1985987.jpg)
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Joined: Jun 2012
Posts: 4,774
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,774 |
There's 2 kinds of people in the world. Those who can extrapolate from incomplete data.
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Joined: Nov 2019
Posts: 3,628 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Nov 2019
Posts: 3,628 Likes: 1 |
Balance. Nothing wrong with paying some interest if you are living an enjoyable and fulfilling lifestyle.
Don’t be the guy who decides to start living after you retire. It takes decades to become proficient in the outdoors and of you want your grandkids to go with you, you better be good at it. Agree with everything you’ve said in this thread. 100% As far as interests and hobbies, the one constant for me is being on the water. Some of my best memories with my parents, my kids, and maybe grandkids someday.
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Joined: Feb 2001
Posts: 5,691 Likes: 2
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 5,691 Likes: 2 |
A few years back my investment counselor was looking for skiff to do a little fishing. Wife and kids decided to get on board (pun intended), and he ended up with payments on a $75k ski unit that was useless for fishing. He's been divorced for some time now and does little if any fishing. $75,000 ski boat ?
America is (supposed to be) a Republic, NOT a democracy. Learn the difference, help end the lie. Fear a government that fears your guns.
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Joined: Jul 2009
Posts: 4,481
Campfire Tracker
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Campfire Tracker
Joined: Jul 2009
Posts: 4,481 |
My little brother just bought a Bayliner that's made to surf behind and it was $140,000. He said that's on the cheaper end for that kind of boat.
Bb If he paid 140 k for a Ballmer I need to sell him some oceanfront property in Arkansas You're right. I had it wrong. He bought a master craft nxt24 not a bayliner. I don't know much about boats so I had to go back and look at the pic I took of it. Bb Thats a damn nice boat. I would have thought more than $140k. I have a similar nautique I've lived on the Great Lakes all my life have bought and sold boats since I was 14 years old over 55 years....made good money mostly before 1984 buying and selling boats....
Around 1984 is when the long boat loans came out 10 years before that loans were 4 years....now you can finance a boat loan for 30 years like a home mortgage....
What this has done to the used boat market is made boats depreciate like a car....back in the 70's and 80's I bought boats in the late summer and fall did a little work on them sold them in the spring and made money on them....now its hard to make a good profit on used boats because they depreciate more and faster especially after the Covid buying ....people now are just not using there boats like they did during Covid and getting tired of them....
I've only ever bought one new boat back in 1982 but have owned many previously owned that were picked up at a good price to be resold.... When I got my nautique I sold a 10 year old chaparral with several hundred hours and some disclosed mechanical issues for roughly what I paid for it. This was spring ‘22
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Joined: Dec 2005
Posts: 9,576
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2005
Posts: 9,576 |
thats how most people afford boats,campers,atvs
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Joined: Jun 2012
Posts: 4,774
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,774 |
thats how most people afford boats,campers,atvs How do you know this?
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Joined: Feb 2001
Posts: 5,691 Likes: 2
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 5,691 Likes: 2 |
Bust Out Another Thousand.!!!
A boat is a hole in the water into which one pours money. The bigger the boat, the bigger the hole. The longer the term, the more money you will pour.
America is (supposed to be) a Republic, NOT a democracy. Learn the difference, help end the lie. Fear a government that fears your guns.
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Joined: Dec 2013
Posts: 13,089 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,089 Likes: 2 |
thats how most people afford boats,campers,atvs How do you know this? I know it because I know lots of people. And most of the ones I know that buy new big items even down to a $10,000 or less ATV make payments and pay interest. And a lot of those things put them in a serious bind every month. Bass Pro, Honda, Kubota, John Deere, RV dealers will gladly put you out the door with new equipment and payments. And don't ever believe that "no interest" is no interest. My 40 year old neighbor kid has bought 2 brand new Kubota tractors with no money down and interest free to do custom work with. I told him the interest was figured in and that if he fails to make a payment they will eat him alive. He told me he lost $60K last year. I've owned 3 new vehicles in my life and two of them were over 45 years ago. I hate the idea of renting money.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Jun 2012
Posts: 4,774
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,774 |
thats how most people afford boats,campers,atvs How do you know this? I know it because I know lots of people. And most of the ones I know that buy new big items even down to a $10,000 or less ATV make payments and pay interest. And a lot of those things put them in a serious bind every month. Bass Pro, Honda, Kubota, John Deere, RV dealers will gladly put you out the door with new equipment and payments. And don't ever believe that "no interest" is no interest. My 40 year old neighbor kid has bought 2 brand new Kubota tractors with no money down and interest free to do custom work with. I told him the interest was figured in and that if he fails to make a payment they will eat him alive. He told me he lost $60K last year. I've owned 3 new vehicles in my life and two of them were over 45 years ago. I hate the idea of renting money. What are their names?
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Joined: Jun 2005
Posts: 8,897
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2005
Posts: 8,897 |
There’s a pile of checks on our desk we’re taking to the bank and depositing Monday. I deal with digital and analog world daily and not just financial. We do ourselves a great injustice by not being able to go both ways and that includes teaching that to you young folks I know we we do. The world of 1’s and 0’s is very convenient but can be very fragile…. Live accordingly….
One man with courage makes a majority....
~Molɔ̀ːn Labé Skýla~
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Joined: Dec 2013
Posts: 13,089 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,089 Likes: 2 |
thats how most people afford boats,campers,atvs How do you know this? I know it because I know lots of people. And most of the ones I know that buy new big items even down to a $10,000 or less ATV make payments and pay interest. And a lot of those things put them in a serious bind every month. Bass Pro, Honda, Kubota, John Deere, RV dealers will gladly put you out the door with new equipment and payments. And don't ever believe that "no interest" is no interest. My 40 year old neighbor kid has bought 2 brand new Kubota tractors with no money down and interest free to do custom work with. I told him the interest was figured in and that if he fails to make a payment they will eat him alive. He told me he lost $60K last year. I've owned 3 new vehicles in my life and two of them were over 45 years ago. I hate the idea of renting money. What are their names? You think I would put the names of friends and acquaintances that I think are acting foolishly on a public forum? I don't mind telling some of them privately that I don't think their actions are wise or that the arithmetic doesn't work but I am not going to publicly ridicule them. Would you? And I bet we all know people that can't afford the notes they on stuff they really don't need. ATVs, furniture, motorhomes, boats, zero turn mowers, etc.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Jun 2012
Posts: 4,774
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,774 |
thats how most people afford boats,campers,atvs How do you know this? I know it because I know lots of people. And most of the ones I know that buy new big items even down to a $10,000 or less ATV make payments and pay interest. And a lot of those things put them in a serious bind every month. Bass Pro, Honda, Kubota, John Deere, RV dealers will gladly put you out the door with new equipment and payments. And don't ever believe that "no interest" is no interest. My 40 year old neighbor kid has bought 2 brand new Kubota tractors with no money down and interest free to do custom work with. I told him the interest was figured in and that if he fails to make a payment they will eat him alive. He told me he lost $60K last year. I've owned 3 new vehicles in my life and two of them were over 45 years ago. I hate the idea of renting money. What are their names? You think I would put the names of friends and acquaintances that I think are acting foolishly on a public forum? I don't mind telling some of them privately that I don't think their actions are wise or that the arithmetic doesn't work but I am not going to publicly ridicule them. Would you? And I bet we all know people that can't afford the notes they on stuff they really don't need. ATVs, furniture, motorhomes, boats, zero turn mowers, etc. Ok, list only their first names.
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