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Thunderclap

What would do? Finance ir pay cash?

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About to sell my boat have a buyer and it sounds like things are getting serious to buy. 

Sold for 50k and I have another 25k . I normally buy all items in cash trucks toys boats etc etc . Would you buy cash again ? Or finance if so why? Im going to be looking at used , I know 70k wont get me into new with the type of boat I would purchase. 

Edited by Thunderclap

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 Depends on the interest rate. Finance if your cash will make you more money than the interest will cost.

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1 minute ago, Southbayrhino22 said:

 Depends on the interest rate. Finance if your cash will make you more money than the interest will cost.

Hmm damn good point 

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I use the banks money if its under 4% Just bought a KTM, 0.99%, no brainer :thumbup:

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Im with southbay and raspadoo. Keep yore money. If something happens in yore future, if you must you can walk away, and yore money is still available

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I would rather pay in cash if I can.  That way if something happens I can sell the item and get cash, not only that there is nothing worse than writing a check for a broken toy or a toy you are not going to use for 4 or 5 months.

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I would keep my cash and buy a 10k boat. I can have as much fun out on the water and feel better having 60k in the bank.

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14 minutes ago, hondajimz said:

I would keep my cash and buy a 10k boat. I can have as much fun out on the water and feel better having 60k in the bank.

THIS... I have had the most fun in cheaper boats. Plus you will not loose any money when you sell.

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3 votes for cash , 2 votes for finance and 1 depends on interest rate. Perfect! Now Im really confused. 

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You trying to buy a new boat or used? What you looking for? I am always looking but boat is paid off with no need to upgrade anytime soon. Plan on being on the water tomorrow. 

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Looking for 26-28 deck or cat 525 may consider some 496 ho depending on brand hours and condition used boats 

Edited by Thunderclap

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I vote cash.... toys are a lot more fun and less stressful without a payment.

 

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Boats are one of the worst investments .... period ! Keep your Cash. Don't get me wrong, I love them, I'm on number 5

In 2007 I paid $167,900 (cash) for a 46' Hatteras SF, today its worth about 40% of what I paid for it.

If your theory is " I'll sell it if I need money" Good Luck ! Better hope the economy is thriving, selling a big ticket item can suck during a economic dump, especially a Boat. 

If I had financed the this boat, I probably would have walked away from it in 2012 or 2013, Still costs me about $ 1,400 a month with Slip, Diver, Tax, Boat wash.

Finance the boat and use your cash to make money !!!

 

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trust me boats are definitely not a investment but a liability if anything. But I have learned you gotta live a little kids grow fast and you need to have memories and good times .

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Don't buy a boat in that price range. I care about you and don't know you

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My lifes motto is, "if I cant pay cash Id dont need it". 

 

that means if I need it & I cant pay cash, then I need to start looking lower until it drops into my price range (ESPECIALLY when it comes to toys...).

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On 3/29/2018 at 11:29 AM, hondajimz said:

I would keep my cash and buy a 10k boat. I can have as much fun out on the water and feel better having 60k in the bank.

You can be out on the water and feel better about yourself, but I can guarantee more fun is had on the big fast boats than on the small canoes like I own.  It's no different than sand cars.  There IS a difference from the small ones to the big ones.  I've got a boat worth 10k that is reliable, fits 8 people, has a kicking stereo, and to top it off I only paid 5k for it (24' Baja).  I have a blast, but will own a 25-28' cat one day.  Cruising on the water at 80+ in a cat is an awesome feeling you can't get any other way.  Spend an evening cruising down river and across Havasu as the sun is setting during the summer time after a great day on the water and all the money is 100% worth it. 

Only you (OP) know your financial situation - do what makes sense for you.  I would have no problem financing a portion of a new to me boat as I have no other payments at the moment.  If I had a family, mortgage, truck payment, I surely would not jump on the boat payment plan. 

I always like to buy toys that have a solid name and quality manufacturer behind them that are at the bottom of their depreciation curve.  There is nothing wrong with them other than they aren't the new shiny thing.  A little sweat equity and modernizing may even increase the value at a 1:1 return.  Don't be the guy who posted above that bought a $170k boat that will be worth less than half in a handful of years.  Buy a $70k boat you can sell for $60k in a few years and consider it money well spent. 

Good luck in your search.  I've been on the look out for a deal on a 25-28' Daytona for a few months now.  Hoping to find something like this closer to CA, even without power would be fine, that can be updated to my liking over time.  

https://mohave.craigslist.org/boa/d/28-foot-daytonia-eliminator-lp/6544887519.html

 

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Eventwheeler, 

very well said, I believe in the same “quality boats youget your best bang for your buck” My boat was a Laveycraft and had it for 10 years phenomial boat. I have had starter boats and finally pulled the trigger on the Lavey 10 years ago. One thing I did learn from my experience is go to the engine size up. I regret not getting the 525 and being cheap . I was ok with 496 but I bet you if I got the 525 from the start I would be keeping my boat. I really am on the fence with going with used 70k or jumping it up to 130k range.  My eyes are on Hallett, Howard, DCB( if a screaming deal comes across) Lavey, Eliminator , Schiada and Conquest . Hopefully I find something before summer if not , I will buy a boat to get buy a season like Chapperall, Monterey or something that I could just get my toes wet. 

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On 3/29/2018 at 2:43 PM, Thunderclap said:

trust me boats are definitely not a investment but a liability if anything. But I have learned you gotta live a little kids grow fast and you need to have memories and good times .

 Just got back from the River. Brought 5 niece's and nephews with me. They had a blast. Even the 16 month old jumpednon the tube after watching his Sister do it. Weekend cost me way more than one would think but the fun they had is priceless. I wish I had the 525 over 496HO but didn't buy new. I ordered the bigger engine in last boat and never underpowered just upgraded to a bigger boat to hold everyone. If I here of any not listed ready will PM you. Headed back out to river tonight get work done on my place before summer.

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Sweet! Thx ! The boats im looking for seem to be a hard buy right now. 525 engine 26-28 ft hallett, howard, dcb, lavey I did see a shockwave that peaked my interest but know nothing about them. They seem to be a well established boat with the rigging setting up correct. Theres a tremor out there for $81k 2016

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The Tremor is my River Neighbors. He listed for $70K end of last year. I was telling people to buy as he spent over $100 building it. Now it is in Havasu on consignment drove by on the golf cart and no longersitting at there place.

 Nice Conquest listed for 85 that sold. Saw it on the water this weekend looked great. Friend of friend bought it.

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25 minutes ago, Thunderclap said:

Sweet! Thx ! The boats im looking for seem to be a hard buy right now. 525 engine 26-28 ft hallett, howard, dcb, lavey I did see a shockwave that peaked my interest but know nothing about them. They seem to be a well established boat with the rigging setting up correct. Theres a tremor out there for $81k 2016

Shockwave makes a great boat - I've owned two - excellent quality and design.  Bob's been around for a long time and knows his stuff.  Loved my Tremor!  Still miss it......

25tremorclosed5.jpg

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Nice 2015 Conquest listed today on riverdaves. Also listed on Mohave craigslist. $135K asking. 

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