How Do you Guys Afford Your Boats?

[TOXIC]

This debate has been going on for as long as there have been "big ticket" items.  House, Car, Boat, etc., while having the latest and greatest, biggest and fastest, newest and most expensive have always been appealing, you have to know and understand your limitations.  It's when we exceed those limitations, we get in trouble.  Low interest rates and extended payments make satisfying that desire for big ticket items more reachable but it doesn't make you any less responsible for how you handle your money.  People have been getting into financial trouble for as long as loans have existed.  Far be it for me to tell any man how to spend his money, I can only control how I spend mine.  I certainly am not bitter about it nor should anyone else be.  If you are serious and smart, there are ways to get big ticket items while not jeopardizing your finances.   

[Junk Fisherman]

I paid cash 4K for my first boat when I was in my mid 20s.  Used that aluminum boat for 15 years and continually saved for my next boat.  Paid cash for my current boat back in 2016.  I am already saving for my next one.  I do this for my truck as well.

 

The way I have done it is that I never spent more than I could afford and I had no problem using a tin boat and a non-loaded truck when I was in my 20s and 30s.  I saved up to pay cash and then continually saved for my next boat.  Now I can pretty much buy whatever I want.  

[slonezp]

3 hours ago, Junk Fisherman said:

I paid cash 4K for my first boat when I was in my mid 20s.  Used that aluminum boat for 15 years and continually saved for my next boat.  Paid cash for my current boat back in 2016.  I am already saving for my next one.  I do this for my truck as well.

 

The way I have done it is that I never spent more than I could afford and I had no problem using a tin boat and a non-loaded truck when I was in my 20s and 30s.  I saved up to pay cash and then continually saved for my next boat.  Now I can pretty much buy whatever I want.  

Already sick of the Tuffy? Lund has a limited edition ProV that'll run you 6 figures. ?

[12poundbass]

33 minutes ago, slonezp said:

Already sick of the Tuffy? Lund has a limited edition ProV that'll run you 6 figures. ?

Does it have cup holders? 

[MN Fisher]

52 minutes ago, slonezp said:

Already sick of the Tuffy? Lund has a limited edition ProV that'll run you 6 figures. ?

 

19 minutes ago, 12poundbass said:

Does it have cup holders? 

Never mind the cup holders - does it have a massage feature in the main seats...at that price it should.

[slonezp]

7 minutes ago, MN Fisher said:

 

Never mind the cup holders - does it have a massage feature in the main seats...at that price it should.

The cup holder was a jab at me. It was crucial when I purchased my current boat that there were enough cup holders. Last boat had only 1 and I hated it. 

[A-Jay]

On ‎2‎/‎13‎/‎2019 at 5:17 PM, slonezp said:

Already sick of the Tuffy? Lund has a limited edition ProV that'll run you 6 figures. ?

Nice looking rig

I "Built" one last night - I got that kind of time.

Loaded it up too.

Came in at a touch over 110K - before taxes of course.

That's a pretty big bite out of crime.

Guess ya gotta pay to play.

A-Jay

[DogBone_384]

2 hours ago, A-Jay said:

I "Built" one last night - I got that kind of time.

Guess how many toys I've built while at the Firehouse ... I got that kind of time too.... tonight's lottery is $240+ MILLION .... one can dream....

[A-Jay]

1 minute ago, DogBone_384 said:

Guess how many toys I've built while at the Firehouse ... I got that kind of time too.... tonight's lottery is $240+ MILLION .... one can dream....

Good Luck ~ 

A-Jay

[GReb]

Debt is not evil but cash flow is king. Every successful business in the world has open lines of credit but their cash flows allow them to manage the debt and use it to increase their cash flows in the future. I refer to it as smart debt. 

 

A boat is never going to make you money unless you think you can outfish Jordan Lee lol. But if you buy something reasonable for your level of income then you will be ok. Just keep the future in mind. If you are going to have kids, buy a house, buy new vehicles, etc in the near future then you have to calculate that into your budget. Just because you can afford a monthly note today doesn’t mean you will be able to next year. 

 

You also have to take into considerations the opportunity cost of your decisions. Just know when you buy a vehicle of any sort that money is gone. There is no financial ROI. With that being said life is about more than money. You make it to afford things you enjoy and live a happy life. 

[Junk Fisherman]

12 hours ago, slonezp said:

Already sick of the Tuffy? Lund has a limited edition ProV that'll run you 6 figures. ?

 

I wouldn't say I am sick of it but I LOVE the Basscat Caracal. I could see myself buying one in 7-8 years. 

 

 

[brgbassmaster]

3 deployments to the middle east and living overseas for 4 years helps ?. Active duty military family of 3. Seriously if u do it right you can make a killing on deployments and all that goes in the bank. So truck is paid for and boat is paid for. 7 years till retirement and full time fishin back home in northern michigan! 

[Topwaterdude]

I fished out of a Jon boat with just a trolling motor for many years caught alottttt of great fish out of it cause I went to spots no bigger boats could put in at?, 3 years ago I got a great deal on an old but mint fiberglass boat cost me $2500 from an older gentleman that kept it in his garage,used it maybe 3 or 4 x a year was moving back to Canada and didn't want to bring it. When shopping for a boat patience is the key.

[Ksam1234]

I know this is a little old but I myself was in this situation. I was looking at buying a new Lund adventure series this spring and my issue is that I’m a worry wart. I had the money to afford it bewteen me and my wife and we also don’t have kids. I always have that voice in my head like “well what if something happens or what if I lose my job “ I had an extra 1200$ a month that was disposable income and still wasn’t sure if it was smart ! I like @A-Jay way of thinking and also is the same as my wife. Money doesn’t mean value , memories and enjoyment in life is much better than any dollar.

[Jleebesaw]

I bought a used tracker boat. Its 10 years old and its smaller than a lot other peoples boats. Its nice and bigger than anything else I've fished out of so I love it. Sure, I could go finance a 21ft glass boat, but i just can't afford that much for my fun fishing right now. Plenty of people do, and I'm happy for them. I know people who have motorcycles that cost 30k. Snowmobiles, atv's, sports cars, hunting land, and even ocean front cottages cost a lot of money. People still buy them. People will always be willing to spend money on what they enjoy doing. 

Right now I'm saving money toward a bigger boat. In 5 years if everything works out I'll have a 50% or so down payment. I fish some small tournaments but I would like to fish my local B.A.S.S tourneys. However, they run on some big water. Lake ontario, onieda lake, and lake champlain. I can fish them on a nice day, but tournament days aren't always nice.

 

[fishwizzard]

8 hours ago, Ksam1234 said:

I know this is a little old but I myself was in this situation. I was looking at buying a new Lund adventure series this spring and my issue is that I’m a worry wart. I had the money to afford it bewteen me and my wife and we also don’t have kids.

Not having kids makes it easier, I am willing to roll the dice a lot more often as I know that I am the only one that will suffer if I make a poor financial decision. 

 

What kills me about getting a bass boat is the cost of storing it and hauling it.  I don't have or really want a truck or a large SUV nor do I have a place to store a boat indoors.  I know myself enough to know that I would not be on the ball enough to keep a boat outdoors.  Trying to find someone around my area with an unused barn is proving far far harder then I thought it would.  Or at-least a barn that I would be willing to park a boat in without sweating bullets every time the wind picked up.  The towing issue is a bit easier to solve, but again it would be an added cost.  

 

I am sure no one wants to know the answer personalty, but I would be curious to know the average "per fishing trip" cost most people's boats cost them over it's lifetime.  

 

 

[FryDog62]

On 2/14/2019 at 4:56 AM, Junk Fisherman said:

 

I wouldn't say I am sick of it but I LOVE the Basscat Caracal. I could see myself buying one in 7-8 years. 

 

 

As I remember you bought the X-190.  How are you liking it?  I agree the Caracal looks good, but I wonder if it would handle the waves as well as your Deep-V?

[slonezp]

8 hours ago, Ksam1234 said:

I know this is a little old but I myself was in this situation. I was looking at buying a new Lund adventure series this spring and my issue is that I’m a worry wart. I had the money to afford it bewteen me and my wife and we also don’t have kids. I always have that voice in my head like “well what if something happens or what if I lose my job “ I had an extra 1200$ a month that was disposable income and still wasn’t sure if it was smart ! I like @A-Jay way of thinking and also is the same as my wife. Money doesn’t mean value , memories and enjoyment in life is much better than any dollar.

Memories, enjoyment, and "If I lose my job, I'll sell the boat and get top dollar because I bought the Cadillac of aluminum boats" should make you worry free

[Ksam1234]

1 hour ago, slonezp said:

Memories, enjoyment, and "If I lose my job, I'll sell the boat and get top dollar because I bought the Cadillac of aluminum boats" should make you worry free

Yeah that helps to ha. I figure my house will be paid off in 2 years and that’s when I’ll get my boat! 2 years seems lik forever though 

1 hour ago, fishwizzard said:

Not having kids makes it easier, I am willing to roll the dice a lot more often as I know that I am the only one that will suffer if I make a poor financial decision. 

 

What kills me about getting a bass boat is the cost of storing it and hauling it.  I don't have or really want a truck or a large SUV nor do I have a place to store a boat indoors.  I know myself enough to know that I would not be on the ball enough to keep a boat outdoors.  Trying to find someone around my area with an unused barn is proving far far harder then I thought it would.  Or at-least a barn that I would be willing to park a boat in without sweating bullets every time the wind picked up.  The towing issue is a bit easier to solve, but again it would be an added cost.  

 

I am sure no one wants to know the answer personalty, but I would be curious to know the average "per fishing trip" cost most people's boats cost them over it's lifetime.  

 

 

I already own a truck so hauling it wouldn’t cost much. Storing it would’ve my bigger issue.  I know a guy though who charges only 400$ for the winter season from like novermber to April or whenever it’s done snowing to stow away..

[TOXIC]

You can store outside if you are prudent and attentive.  I will say that if I bought a new boat (within the last 2 model years) I would find a place to store inside.  There's no way my 21 foot boat will fit in my garage, even at an angle so I do the next best thing, I bundle it up like it's going to be in storage for a year every time I bring it home from fishing.  I made fender covers out of an old cover and I keep a good coating of wax on the glass.  I've been storing it this way for years and so far not a bit of sun fade or damage.  I keep the plastic trim, the seats and tires coated with 303 protectant.  I did have a mouse get in and chew up some foam and a microfiber towel (I dispatched him with extreme prejudice) but other than that it's been fine.  

 

 

[fishwizzard]

12 hours ago, TOXIC said:

You can store outside if you are prudent and attentive. 

That is my issue.  I have the self-awareness to know my weakness, but not the self-control to overcome them, or at least my laziness.  

[slonezp]

I have stored my boats outside for over 20 years. What's the big deal?

[Junk Fisherman]

On 3/4/2019 at 8:08 PM, FryDog62 said:

As I remember you bought the X-190.  How are you liking it?  I agree the Caracal looks good, but I wonder if it would handle the waves as well as your Deep-V?

I doubt the Caracal handles big waves as well as my X-190 but after running my X-190 for 3 seasons, there has only been 1 time where I was actually in big waves that really made me happy to be in a deep V.  I simply go somewhere else if the wind is coming out of the wrong direction or launch in an area sheltered from the wind.  But on the other hand, there are numerous times when I would prefer to be in a boat closer to the water for skipping docks or pitching shorelines.   My X-190 is a good boat and does everything I thought it would do but I think a Caracal would be a better fit for me.  But I'll wait till some come on the used market in 5 years or so.      

[J Francho]

On 2/13/2019 at 5:17 PM, slonezp said:

Already sick of the Tuffy? Lund has a limited edition ProV that'll run you 6 figures. ?

Lol....  I added $150 in cup holders to this build.

 

[zeth]

I downloaded the Acorns app. turned on 10X roundup. Didn't touch the money until there was enough for a good down payment. Took about a year. Financed the heck out of the boat to make the payments reasonable. Whatever it takes. No kids though. And all I care about is tournament fishing. In terms of making a responsible decision I might not recommend doing what I did. Actually I do recommend Acorns to help you save. Worked for me because I have a lure buying addiction and have a hard time saving. Once you saved up just buy a used boat. Plenty good used boats out there.