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Senior Member
well almost have my boat paid off! and thank god for that. it was a10yr pay off!! I got to say I love my boat:-) but I will never do that again get a loan for a boat!! and the worse part of it have to put more money back in to it! carpet is in bad shape ect ect! anyway almost paid off! lol
Senior Member
Wow....I could not imagine paying on a boat for 10 years. Just think it you put all those extra payments towards the principle on your home mortgage for 10 years. It would probably be paid for. I see where some can finance boats for 15 years....that's just crazy.Originally Posted by fishhound
Senior Member
your right it was crazy if I had to do over again I would had put it in my house payment:-(( all I can say im 10yrs wiser know. lol
Senior Member
We all live and learn. I went 5 years and that's long enough. Sometimes we all don't do what we should do. If we did life might not be as much fun. I don't know of anyone who takes all their extra money and puts it toward their home mortgage....maybe we should, but I think life is too short not to have some fun. Something that is crazier than a 10 year boat loan is a 30 year home mortgage.
Last edited by MSD; 09-16-2013 at 07:41 PM. Reason: To finish
Senior Member
But is there a better feeling than running WOT on a calm lake enroute to your favorite fishing spot?
Super Moderator
General rule of thumb for boats/trucks: if you really need more than 4 years to pay it off, its more boat/truck than you can afford.
Andrew
Junior Member
Most boats cost more than i paid for my house now days (crazy). I can't justify paying for those high end boats. With that said i believe that 1) you need to enjoy your life 2) never seen a u-haul ir armored truck behimd a hurst you can't take it with you.
Senior Member
Exactly! You got one shot at this life. There is no dress rehearsal...this is it!
We are not promised tomorrow.
Senior Member
You're right.....it's crazy how much boats cost now. What is really crazy is how much they make off of them. I bought my boat off a guy that had won it in a tournament and all he had to do is pay taxes on the cost. Retail the boat cost around 35K but he only had to pay taxes on 15K. What a rip off.
Senior Member
I agree with a lot that was been said and a old saying comes to mind ( boys and there toys) lol. I fish so I have a boat but I know myself if I played golf I would have a golf cart! lol. ect ect. thank god I only love to fish:-)
Senior Member
Saw a Ranger for $76,000 and was told guys are going 20 years to finance it! I cannot believe it!
I just did a 5 year Credit Union loan at 4.54% interest---don't mind going 5 years at that rate!
Senior Member
This world is FULL of fools who get over their heads in DEBT thinking like that. Understand I'm not calling you a fool, but also UNDERSTAND the vast majority of the debt bailout under Bush and Obama that was made up of TRILLIONS of dollars was because of foolish lending practices.
People walking away from credit cards......MEANS your costs go up.
People walking away from their homes..........MEANS your costs go up.
People walking away from their cars.........MEANS your costs go up.
If you CANNOT afford it, then don't buy it.
Credit should be crazy hard to get, and personally, if you SCREW up and have to file bankruptcy or anything else, you should NEVER..........NEVER get debt again........NEVER.
It took me 10 years to be unburdened with STUPID DEBT that I incurred when I was young and stupid.
I've had lean times. Been out of work before.....took 3 jobs and sold practically everything I owned to keep from filing bankruptcy.
I'm just saying.
Later,
Geo
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