Northwest Fishing Reports

So I have a tiny 10' boat I custom made into a bass boat but, now I believe it's time for a major upgrade. I want to know if most of you finance or pay for your boat in full? I know you don't usually finance toys but, it's also kind of hard to come upon 17,000-60,000 dollars. So what did most of you do for your bass boats?

finance, the only way to go


I know a guy that back in the '90s was saving to pay cash. A couple yrears ago I talked to his son, the father is sick, and still never got a new boat. You want it, get it.

If you have the cash on hand and the interest rate is lower than the interest rate on the loan go with cash.

Boats hold their value much better than cars. I was able to get a 12-year loan for my boat. Made for a reasonable boat payment. And around here, I can use my boat pretty much year-round.

I don't think it ever makes sense to finance anything, if you don't have to.
Obviously though it is not a reality for most of us to drop $10k (+) out of our pockets.

Like AMX, said just do what you have to do, as long as you can carry the payment within your budget.
If you have any cash at all to put into a dowm payment on the loan, that's even better.

I just bought a new boat financed the boat and trailer and engines. everything else I paid cash for. at a 3.75 rate and paying double a month imo beats trying to save for years to buy it.

sickbayer wrote:I just bought a new boat financed the boat and trailer and engines. everything else I paid cash for. at a 3.75 rate and paying double a month imo beats trying to save for years to buy it.

Not trying to be a smarta**, but what else is left??

Downriggers, fish finders, tr1 auto pilot and cover for the boat. 7 k right there.

Have always paid cash....I will save till I can buy it........Have worked 2 jobs and on weekends, this has worked for me ( I am 80 yrs old ).......

Well good foe you is all I can say.

sickbayer wrote:Downriggers, fish finders, tr1 auto pilot and cover for the boat. 7 k right there.

Oh yeah...that stuff

dutchman2858 wrote:

sickbayer wrote:Downriggers, fish finders, tr1 auto pilot and cover for the boat. 7 k right there.

Oh yeah...that stuff

Add a deposit and add tax and license I think its a lot of money.

sickbayer wrote:

dutchman2858 wrote:

sickbayer wrote:Downriggers, fish finders, tr1 auto pilot and cover for the boat. 7 k right there.

Oh yeah...that stuff

Add a deposit and add tax and license I think its a lot of money.

It certainly is. Of course you have to realize I'm the guy that does all the calculations for buying a new house for the wife, says to her, "Yep, we can just afford it!" And forgets that she will want to actually put furniture, window treatments, plants, etc., etc., in and around the new place!

Yup that's the problem when you borrow to your max. I blame people financing everything on the high price of used boats. Thats why I bought new.

When I bought mine, I was planning to look at boats that were 1 to 3 years old. In theory that would be the best deal as the price of new boats/cars drops the most in the first three years. But when I talked to the credit union folks, they offered me a much better deal on financing a brand new boat. Lower interest rate, lower payments and lower down payment requirements. The new boat will end up costing about the same as a used one would have by the time I pay it off.

Larry3215 wrote:When I bought mine, I was planning to look at boats that were 1 to 3 years old. In theory that would be the best deal as the price of new boats/cars drops the most in the first three years. But when I talked to the credit union folks, they offered me a much better deal on financing a brand new boat. Lower interest rate, lower payments and lower down payment requirements. The new boat will end up costing about the same as a used one would have by the time I pay it off.

Ditto!

Pnwoutdoorchannel wrote:So I have a tiny 10' boat I custom made into a bass boat but, now I believe it's time for a major upgrade. I want to know if most of you finance or pay for your boat in full? I know you don't usually finance toys but, it's also kind of hard to come upon 17,000-60,000 dollars. So what did most of you do for your bass boats?

I just went through all this. If you want to contact me via PM I'm available to answer questions about my experience.

You should post you experience unless its too painful LOL.

sickbayer wrote:You should post you experience unless its too painful LOL.

Well the deal is this. It's easy to spend other people's money. I just put down a lot of money for a new 2016 glass boat. And unless you have actually done this, there is more too it than meets the eye…just sayin…

Sorry should have read your above posts.

For Reel wrote:

sickbayer wrote:You should post you experience unless its too painful LOL.

Well the deal is this. It's easy to spend other people's money. I just put down a lot of money for a new 2016 glass boat. And unless you have actually done this, there is more too it than meets the eye…just sayin...

I just spent roughly a year figuring out what you should pay verse what they want you to pay.