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Started By
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re: You can get 20-year loans on boats now?
Posted on 7/22/23 at 9:41 am to rickgrimes
Posted on 7/22/23 at 9:41 am to rickgrimes
Money was too cheap for too long leading to this sort of stupidity.
0
Posted on 7/22/23 at 9:55 am to rickgrimes
Loan or not...100k for a damn bass boat? You gotta be out of your damn mind.
Never underestimate the number of absolutely stupid ways people are willing to stay poor.
Never underestimate the number of absolutely stupid ways people are willing to stay poor.
Posted on 7/22/23 at 10:29 am to Robin Masters
quote:
Over $240,000 for a < $100,000 boat.
Yeah. I think you’ll be surprised to see the number of people who are underwater on their boats.
Posted on 7/22/23 at 12:51 pm to rickgrimes
A baws gotta do what a baws gotta do
Posted on 7/22/23 at 12:55 pm to rickgrimes
I am not a baller by any means but I realize it and am ok with that. I am happy to have less stuff but also less responsibility.
Posted on 7/22/23 at 1:09 pm to rickgrimes
Told this story here before, so here goes again: I met this grandfatherly gentleman at my grandson's little league game about 5 years ago. I don't remember the rig he had, but it was a very high dollar bass boat with a huge Merc on the back. Complimented him on it and he said, he knew he would die before he got it paid off, but he was going to enjoy having something nice before he died. Said they could come get it when he died, but he was going to enjoy it until that day. I think he said he financed for 20 years.
Posted on 7/22/23 at 2:26 pm to rickgrimes
I misread the thread title and thought it said “bats” and was about to say travel ball has gone to far
Posted on 7/22/23 at 2:31 pm to Wabbit7
These days a man can do well flipping boats if he's ok with gelcoat repair and A LOT of sanding. You can easily finance a used boat these days and therefor, easily sell them.
Posted on 7/22/23 at 2:47 pm to BigBinBR
quote:
Yeah but it says it’s a $3330 savings!!
2% and change off. Screaming deal. Buy 2.
Posted on 7/22/23 at 2:56 pm to Napoleon
quote:
So the $102.000 boat will cost you 243,813.60.
My first house was somewhat similar. 30 yr loan for ~$100K financed at 8%.
Posted on 7/22/23 at 2:57 pm to Grievous Angel
quote:
100k for a damn bass boat?
That glitter comes at a steep price.
Posted on 7/22/23 at 2:58 pm to Basura Blanco
My main financial goal in life is to have enough money to finance my kids first houses for them at 0%.
THAT would have been life changing for me. I could have that 34 yellowfin I've been wanting instead of this stupid house note.
THAT would have been life changing for me. I could have that 34 yellowfin I've been wanting instead of this stupid house note.
Posted on 7/22/23 at 3:04 pm to rickgrimes
That will look great behind my $100K F250!
Posted on 7/22/23 at 3:42 pm to DownshiftAndFloorIt
quote:
I could have that 34 yellowfin I've been wanting instead of this stupid house note.
I have two daughters. The Yellowfin line of boats sometimes makes me wish I had stopped at one (not really pumpkin, daddy got jokes).
Posted on 7/22/23 at 4:44 pm to Basura Blanco
Should not be allowed alone term longer than the average life of the outboard motor . Maybe 10 years. 20 years term is obviously way underwater
Posted on 7/22/23 at 5:43 pm to BigWillyMetry
This country deserves a financial meltdown.
Posted on 7/22/23 at 5:53 pm to Will Cover
quote:
most people never hold onto them for 20 years, so this is why focusing on the payment is important.
Amazing
Posted on 7/22/23 at 5:55 pm to USMCguy121
back in the day if a boat had a galley and a head you could get long term financing, essentially a home mortgage and P&I, closing costs, etc., etc., were tax deductible
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