A lot of markets are crazy right now and I’m hesitant to jump in now, fearful of paying a potential premium. Had a “local” dealer finally call me back on what it would cost for a Polar Kraft Outlander 186 side console, rigged with 115 drive by wire Suzuki and a galvanized trailer. $31900? I’ve seen the same boat with Honda 115 power for $29500 but that was far from “local”.

I feel like sitting this out and see if markets stabilize? Place a order next year? I want to just say F it and order one now. I can’t expect it till next spring.

What say the Fire about using a home equity line of credit to buy a new boat? I fail to see the downside?

One does not finance toys. Buy toys you can afford to pay cash for.

Woodson, understand what your saying about wanting the boat. I keep hearing various people on the net saying "now is a good time to get out of cash". Not quite sure what they are talking about, you live closer to the belly of the beast than I do.are they referencing to expected inflation of goods and services or higher interest rates. Or something else? If you jump on the boat I think I'd get it with the same size Yamaha.

I’m with Pal on this.
The idea of borrowing 30K against my house to buy a boat doesn’t sound like a good idea to me.

Boats are high depreciation, high maintenance items.

The used market is full of boats similar to what you want, only 5+ years old and in almost new condition.

Make a plan and start saving. When you have 10K stashed, start watching Craigs list.
When you find the nearly perfect boat and the asking price is 15K, politely offer 10.

You may needs to do this several times but sooner or later you will buy a boat for 10K with no loan.

Solid advice !!

Context? Our house will be paid off in less than 8 years. Using my homes equity at this stage, to me, doesn’t seem like a big deal.

Also I don’t know if anyone has followed the used boat market? It’s insane.

With biden in the White House everything you do monetarily is a big deal. I felt like a ton was lifted from my shoulders when I paid off my house 5 years early and last week paid off my F-150 a year early. I think in the very near future lotta stuff for a reasonable price will availible if you have the patience to wait. Boat season is about shot in the ass now. Good luck with whatever your decision is. Mb

High depreciation? My Ranger was 34000 new and I could get 25000 out of it this afternoon still. And I've had 14 years of fun.

If you want a boat, don't let the Dave Ramsey wannabes talk you out of it. Life is short.

image host

https://m.youtube.com/watch?v=fmJeNSPUji4

Love this layout for my uses.

Easy to become enamored with the image of yourself in a brand new boat. But it makes so much more sense to buy only what you can afford--a used boat.

Amen. Listen to Dave Ramsey, and change your family tree.

Count everything's value that you own that has a motor in it. If it totals close to 50 percent or more of your annual salary, You are on the train to poorville in retirement.

A house is ok to buy on credit. but that's it.

Remember, the wealthy want you in debt, and your kids, ALL THE TIME.

That's how they stay rich.

I would never finance a boat.

I agree. I didn’t borrow against the house though. I got my boat financed through my credit union. $42k, put $10k down. Payments are $260 a month. I make several extra payments here and there.

If that's what you want, and you can afford it, buy it. I don't know your credit situation but you're an American adult and can make your own decisions. I don't have a home equity LOC any more, the terms on it got way out of whack when the costs to maintain it, appraisals mostly, were making it more costly than other forms of credit. Plus taxes are generally low right now as well, which was the main reason for using a HELOC back in the day. I would suggest to you with all the cash laying around, there are probably cheaper ways to finance such a purchase.

I wouldn't finance a boat or anything else for longer than five years. There's that's my tip of the cap to all you Dave Ramsey Disciples. Shall we start calling you DRD's for short?

I had a single side console Starcraft in the 90's and once I've had a full windshield would not go back. I liked the fishability of the Starcraft but the full windshields make for a more comfortable experience.

That Polarkraft looks real nice. Floor plan like an Alaskan 1800. We've had a lot of fun using ours the last few weeks. Never thought I would buy one but glad we did. Will use it some more in between hunts this fall. And planning next trips now as well. Good luck whichever direction you go.

I do like Dave's advice for a lot of things, but everyone takes a little from here and there when developing what works for them and their family.

NEVER borrow for toys.

"By all means, let your kids grow up and get out of the house while you wait to gather enough cash to make memories with them while they're little." is super dumb life advice.

You do have a good argument there. That's one of the issues I had with Ramsey's advice..

When I was 20 and partying I spent money like a sailor on leave. Some of us at that age thought we'd never live to see 40. So, what do you do? Live it up and stay broke? Or, save a few years and live rich and worry free? Not an easy choice. I wish Dave would talk about this more.
I just saw at least 4 high school classmates die before 50. And many more before them.

Ramsey’s advice seems to be geared toward folks will little self control. If you follow these rigid rules you will dig yourself out. While that is true, it is also extreme. A key question is how did you get yourself into the hole to begin with? Lack of self control?

It’s kind of like telling an alcoholic they can never have a drink. Nope, they can’t. But that doesn’t mean that advice applies to everyone. If you have the financial means and security to pay the note on a boat, go for it. The way prices have been going lately, the interest you pay on the note will be less than the price increase you will have to pay if you wait a few years.

Don't be silly. No one needs a brand new boat to have fun with their kids.

You said a mouthful there.

The most fun I ever had in a boat, was as a kid. Dad bought a used tri-hull (split-window) made in the 70's. It had a Johnson 60hp that would jerk a 240lb. man up on one ski. We fished and skied until I got out of high school and he sold it. My friend had the same cheap used boat.

Since then, I've bass fished with friends in 45,000 dollar boats, and they are wonderful. But we don't go every week like we once did. I go once a year if I'm lucky.

Kids need love and your time so bad. The price of your toy really won't matter.

I agree here, with these guys!

I know more people, who can't separate themselves from their Wants, and NEEDS!!

As you get older, you don't want to say, man did I screw up!

Sleep on it, and sometimes sleep on it a long time!!!

This all reminds me a financial adviser I knew about 15 years ago. He wanted a cheap runabout to do a little fishing in. Wife and kids got involved and he borrowed for about a $45K ski setup. Two years later, he was divorced and guess who managed to keep the boat.

Or the guy who put together an awesome setup that can fish fresh or saltwater, can cruise the banks fishing for bass or troll for salmon with downriggers, is great for setting crab and shrimp pots, and can pull a tube! It’s the center of a big chunk if my family’s recreation and we don’t ever have to buy fish or crab.

I’d rather save money in other ways.

Amazing to me how many of you want to tell someone else how to live his life...

The used boat market is opening up and prices are dropping. d start looking seriously end of October.

I picked up a used Lund fisherman with 60 hrs on. the 115 hp Yamaha and a new Yamaha kicker. Just went water skiing , tubing and down rigging for kokes yesterday

Buy the boat you want, life is too short. Either take out a loan if the rate is good enough, or if you had been thinking of a refi on your home, pay for the boat that way.

Let's see here... paying 2.25 - 2.75% (haven't looked recently) on a refi if you were going to do it anyway...

Or...

Paying cash for your boat instead of investing that cash, and losing out on 4 - 40% return on your investment?

The pride of paying cash can cost you money when you could be using it to make more.

So the lesson is to not get married. Best financial advice ever for men!

Sounds like a nice outfit, you get a deal or did you get bent over. ?

Used boat market had been insane. Those saying buy used obviously haven’t been paying much attention. People are buying boats and selling them for about what they paid for them years later, granted you didn’t buy [bleep].

A friend of mine ordered a new Lund Alaskan in January he wanted it for hunting and fishing so he spec' ed the factory camo , side steering, and a 75hp Merc. It finally showed up at the dealers last week. They called him up and told him he needed to pick it up pronto. Seems they had customers looking at it and offering over 2k more than he paid for it. Was driving the sales staff batshit crazy. Mb

This- if ya need to finance a boat, buy a kayak or a canoe!

Nothing wrong with buying a canoe. No motor to fail or fuel , bought a real nice condition 1973 model square stern Grumman 17 ' last week. I LIKE BOATS , quality and affordable ones. Everyone here has a different level of affordability. I for one think how Woodson buys his boat is his business, his only mistake was thinking he could ask a finance question without being criticized . I like guns, fishing equipment, boats I have more than a few of each. I paid cash or used a credit card but I don 't owe any money and only have my own income. When my boat is broke or don 't run I just grab a different one and go, fix it later, try that with a woman see what that gets you. Mb

Shut up

You liberals just don't respect our 1st Amendment rights.

you busy body demon possessed baby killers are always telling people how to live. just shut up and mind your own business.

The earth is 2/3 water, buy yourself a boat, and enjoy the time you get to spend with your family and friends, that being said, I have a friend that has a boat real near to what you have pictured, he wonders why no one will fish with him.

Well that's because he is sitting comfortably behind a windshield, warm and dry, with a steering wheel and a throttle to hold on to, while any one riding beside him is wet cold and trying like hell to find something to hold on to, if you like fishing alone ,go for it but if you plan on fishing with friends and family there are plenty of better options than what you have pictured.

As far as you cheapassed Dave Ramsey fans, why don't you get a better paying job, instead of being such a penny pinching dickweed, no one likes a cheap f~ck !

I don't take orders from biotches.

Hey Woodson you get a boat? Or just a bunch more people on your ignore feature? Mb

No I’m gonna see where things stand next year.

Sounds like a plan.. mb

Good idea.

When I returned from Vietnam, in early 1968, the first thing I did was buy a '61 Cadillac convertible, for $750 cash. It was beautiful, I needed a car to get to work, and I had sold my '56 Chevy before shipping out, not wanting to leave loose ends in case I never made it back. Of course that took care of most of the money I'd saved from soldier's pay and mustering out. So when, shortly after that, I decided to buy a trailer boat, just for fun, I wound up using the easy financing that was readily available.

It was a 17' Larson with (I think) a 100 hp Mercury outboard. Though it now sounds like way too little $ IIRC I must have paid around $2,000 for the whole rig. I had no responsibilities to anyone else and honestly was willing to have some fun at any price--Hell!--I had just survived 13 months in combat! Devil may care. I was young and not thinking of investments or what made any sense.

Now, more than 5 decades later, I know better and hope you will too. Good luck.

I paid cash for my last boat. Bought in 83. 2 years ago I wanted a bigger well equipped boat my dream boat. I was debt free at the time. I ordered exactly what I wanted. I financed it. Paid extra on every payment of a 5 year loan. Had it paid for in 18 months. I wish I had bought it 5 years sooner. I smile everytime i take off in it. I don't like debt but sometimes having things that give you joy are worth buying how you can.

Wait till next year when boat prices increase by 10-15%. Makes 5-6% interest look cheap.

you take orders from your boyfriend when he tells you to bend over though dont u homo?

No kidding. I am getting ready to order another new boat for 2022 delivery.I expect a 15% increase over what I paid for the same new one in early 2021.

It’s the same story with new trucks (if you can find one).

major deal. Lucked into it. friend of a friend. Like most good deals, having cash to purchase when I showed up to deal helped. Threw in a bunch of extras worth around $1000 too

Sounds good ribka, I hope you get it out this weekend. Mb

Get what you can afford, and don't let others talk you out of what you want!

This is very interesting to read

From a personal side Yes I understand and personally live by I pay cash for toys. I have taught my Daughter the same
I think this is wise
I bought a new boat this year and it was really a struggle to get it I was scheduled to get it May and it got done just before the 4th of July and the second day out of the factory it was totaled on the way to the canvas shop. I took delivery Labor Day weekend I am putting it in storage with 6.7 hours on it really sucks. I guess this thing that keeps me from being too unhappy is I know the boat would be 15 to 20% more if ordered today. So I am early for next year

But I also see buddys of mine that have been worried about spending and have passed way too young and in the end it really didnt matter
Like I say I believe in owning things for sure but I am always torn. My Parents died very early I also have a very good friend fighting cancer at 49

But we are seeing increases on most all major items on boats for next year
Motors are going to continue to be an issue supply and demand and right now demand is way larger than supply
I work for the other guys, but Suzuki are very good motors and priced very aggressively here anyway they are the lowest cost supplier

When will we see a correction in the economy? Personally I was and am wrong I thought it would have been well before now

I wish I had the crystal ball many claim to have
Hank

Took delivery of my "new" 43' boat today, for less than that dealer quoted you for an 18-footer.

A 1983 model, it's all fiberglass with twin 235 hp Volvo diesels and a 12.5 kw Westerbeke generator. Carries 700 gallons of diesel, has a large bait tank and tackle center built in. This will become my home in the coming months, after I complete a few small projects.

Also a photo from the original factory brochure. And a photo of the sleeping cabin.

Looks great! Enjoy!

Big boat! Grats.

Thanks fellas. I've spent half my 77 years living on my boats, so this will be familiar territory.

Here's the view from the enclosed flying bridge. There are captain's chairs aft plus a large bench seat forward.

Something to be said for a life well lived. Well done sir.

Thanks for saying that. I believe you do get it.

In the mid-'70's a midlife crisis led me to move onto my wooden 38 Viking (powerboat), which led me to a life of working on boats (I customize yachts). Though I missed the financial appreciation opportunity offered by being invested in a house, and literally threw a fortune away on boats, I feel blessed to still be active and healthy at 77-years old. And I must credit my life on boats to be part of the reason for this blessing.