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Saw this on the barfcom had to look it up
Saw this on the barfcom had to look it up
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240 month boat and rv loans ?
- Thread starter BurtG
- Start date
20 years? That boat or RV will be long dead by then.
I thought 10 year loans were stupid for those "toys". If you can't pay them off faster, you probably shouldn't sign the note for them...but who am I to cast judgement on financially illiterate potatoes.
All part of the ploy to keep people slaves.
If people can figure shit out and make appropriate corrections, it changes everything.
If people can figure shit out and make appropriate corrections, it changes everything.
How else are they able to keep increasing the prices on boats if they can't figure out a way to let people buy them.
Take a 23' Northriver Seahawk that was $67k in 2019 was at the boatshow this year for $118k. Granted it was "On Sale" for $105k if you bought it at the show.
Take a 23' Northriver Seahawk that was $67k in 2019 was at the boatshow this year for $118k. Granted it was "On Sale" for $105k if you bought it at the show.
Irregardless, I’ll not be going into that much debt for a few weekends a year
There are lots of stupid motherfuckers that will though.
Il cast all kinds of judgement. They will take your money to give these Parasites retirement / “disability “, welfare , food , housing , etc
They have to keep the peasants in boats and trucks and big screen TVs and hamburgers etc...if it means printing a ton of money and making huge loans for everything the new "normal" so be it.
Why pay for it once when you can pay for it thrice! Initial here, sign there.
If I don't have cash, I don't buy it. Can you imagine the final cost after those 240 monthly payments have been made???
Two happiest days of my life have been the day I bought my first boat, the day I sold it. Knew what I was getting into when I bought I bought the floating $ pit I have. Always paid cash. No me gusto interesto.
I looked at financing my last vehicle I bought last year to keep the cash in hand. 4% with a high credit score. Payment would have been $1,500 on a 36 month loan.
Said nope and just paid for it outright. Saved thousands in interest.
Current interest rate for boats currently between 7-8% for a 15-20yr note with excellent credit.
Lotta money in interest.
Long terms like that on high end boats and rvs has been typical for a while now.
Lotta money in interest.
Long terms like that on high end boats and rvs has been typical for a while now.
Here's the sad part... $75K ain't shit! Look a Vexus VX21. $110K!!! $10K down and (60) $2003.00 payments=$130180.00. $10K down and (240) $805.00 payments? $203200.00 or $93205.00 in interest! FUCK THAT! I don't like fishing that much...
If it flies, floats, or fucks... RENT IT! Last one is debatable but I've got a good woman!
If it flies, floats, or fucks... RENT IT! Last one is debatable but I've got a good woman!
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Renting pussy is also the way.
That's always the best, just tell us how much you're looking to spend and we'll "work it out for you"
Guys on my jobsite brag about their fancy new trucks. Financed to their eyeballs but hey it's really cool huh?
I mean... I'm renting it regardless what with air fare, meals, the room, other entertainment (she likes shooting machines guns so that's a thing everytime we go to Vegas!), etc. Got kicked off the bloodmobile once over that BTW. Question asked was "Have you paid for sex in the last 6 months?" I asked for clarification... "Are we talking pay as in dinner and a movie? Or 50 bucks for a half and half?" They were not amused
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I mean... I'm renting it regardless what with air fare, meals, the room, other entertainment (she likes shooting machines guns so that a thing everytime we go to Vegas!), etc. Got kicked off the bloodmobile once over that BTW. Question asked was "Have you paid for sex in the last 6 months?" I asked for clarification... "Are we talking pay as in dinner and a movie? Or 50 bucks for a half and half?" They were not amused
Half and half is now $100 due to inflation.
$700 per month for 20 years.
$8400 per year.
Thats 2 all expense paid trips to The Keys, per year, where you have 42 bridges, spanning 126 miles. Over half of those bridges can be fished from, YOU DONT EVEN NEED A BOAT!
Or....hire a boat in the Keys.
People are stupid.
$8400 per year.
Thats 2 all expense paid trips to The Keys, per year, where you have 42 bridges, spanning 126 miles. Over half of those bridges can be fished from, YOU DONT EVEN NEED A BOAT!
Or....hire a boat in the Keys.
People are stupid.
Well fuck! I guess I gotta buy her more ammo (or the whole bottle of wine) on the next trip!
Exactly my thoughts towards boats.
You have missed the point.
These 'buyers" can't see 240 months down the road.
Same mindset of people who bought houses back in the 80's with no money down and a balloon note in 5 years.
Sit back and watch this 'trend". They all have great credit and good credit report numbers.
The bottom is falling out from under them. They will party Like a Rock Star just as long as they can.
Some of you older guy's can remember these people from the oil crisis, savings and loan crash and all the other recessions.
The cash they have is stuffed in a mattress and they will live the lives of the Rich and Famous till the credit runs out.
Then they disappear. They leave a mess for other's to clean up.
Prove me wrong.
These 'buyers" can't see 240 months down the road.
Same mindset of people who bought houses back in the 80's with no money down and a balloon note in 5 years.
Sit back and watch this 'trend". They all have great credit and good credit report numbers.
The bottom is falling out from under them. They will party Like a Rock Star just as long as they can.
Some of you older guy's can remember these people from the oil crisis, savings and loan crash and all the other recessions.
The cash they have is stuffed in a mattress and they will live the lives of the Rich and Famous till the credit runs out.
Then they disappear. They leave a mess for other's to clean up.
Prove me wrong.
I'm waiting for toys to get sold for pennies on the dollars when these little shits are selling anything they can to keep up apperances. See it all the time around here (Lake life and all that bullshit). $100K (or more) boat (Momba, Air Nautique, Mastercraft, Ranger. You pick) being hauled by a $110K tow rig (F-250 Platinum or a 2500 HD Denali or a whatever the fuck Ram 3500. All Diesel) and think "I wonder if they live in a 20 year old single wide and are behind on their cell phone bill?"
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I’ve been waiting since January 2020 for the bottom to fall out, lol.
I've had many boats throughout the years for inshore saltwater fishing. Sold them all and have taken up kayak fishing. Couldn't be any happier.
I was in a polaris dealer showroom 2 weeks ago and they had an 18' Lund he just sold for 80k. List was 94k.
Unfortunately, most people can’t. The second shift supervisor where I work is one of those people. He bragged about paying off a couple of cars by re-financing his house.
I’ve beat some bottoms out.
those kinds of terms are quite common with high-end RV's. Boats I have no experience with. Our current RV was well into 6 figures when purchased. The dealer INSISTED we take a 240 month loan when we asked for 120. We put a very substantial sum down and were somewhat ticked off when the paperwork reflected 240 rather than 120 months. We suspect a bank kickback. We paid off the loan in a little over 2 years. Debt free is a wonderful thing.
636x240=152,640
Holy shit that's a lot of interest! I'm sure there's some "extended warranties" and water repellant protection plans included in there. Fuckn vultures
Orrrr for the same price you can have your own boat and fish all year. What kind of dummy only wants to go fish twice per year and pay someone else to do it?
I owned boats from the time I was 19 til I was 46. I spent more time paying for boats and their upkeep, than I did fishing.
I spend more time fishing now than I ever did, and I dont have to make payments or pay for upkeep.
I plan to own another boat, but I already know the score, and know I won't spend any more time fishing than I do now.
YMMV
Some of the best fishing I've ever done, was done on charters and headboats.
If you have the means, help thyself. As a once and future boat owner fish caught on your own boat is some expensive sport.
I will say Some of those most fun I’ve had in a boat was in high school on a $300 Craigslist John boat.
But yes boat shit is expensive. Been around and on lots of them. Pretty sure the airboats are the worst about being more expensive than a cocaine habit.
A former coworker lives in his camper. It's a 42' toyhauler with all the amenities.
He took out a mortgage on it.
However, he travels with his wife, their dog, and 2 dirtbikes. Job to job as a temp, making stupid money. He owns a house but it's rented. He does have a barn the renter can't access so if he takes a break he'll "go home" and pull it inside to do upkeep.
So far he pays them down quick enough to trade every few years and stay in something that doesn't have RV problems. Once they're out of warranty, it's time to trade.
It probably helps that he is usually $500+/week in perdium that he dumps on the payment. He does a mortgage with a $300 payment just in case he wants to take a few month vacation without a $2k payment.
He took out a mortgage on it.
However, he travels with his wife, their dog, and 2 dirtbikes. Job to job as a temp, making stupid money. He owns a house but it's rented. He does have a barn the renter can't access so if he takes a break he'll "go home" and pull it inside to do upkeep.
So far he pays them down quick enough to trade every few years and stay in something that doesn't have RV problems. Once they're out of warranty, it's time to trade.
It probably helps that he is usually $500+/week in perdium that he dumps on the payment. He does a mortgage with a $300 payment just in case he wants to take a few month vacation without a $2k payment.
The mortgage company tried to get me to do that the other day.
I politely told them I'm not a complete retard, and I'm not financing the house from 3% to 6% to dump a 2.6% interest truck loan. 2.6% for another 2 years is a fuck load less than adding $15k and 3% to a 20 year loan.
But he kept trying to bring up payments, and I told him "I give zero fucks about the payments, if I did I would have payed cash".
Only reason I have any loans besides the mortgage is my investments (well, until this quarter) were averaging 10%, and the bank will give me money for 3% or less.
Having a boat ain't all that bad at all. Especially when you can live on it. Literally. From 'launch' in the Spring until "dock-out" in the Fall. It's a different kind of life. And if you're wanting, you can 'drive your house' and anchor wherever you want.
And it ain't all for 'stupid-money' either, if you know what you're doing. If you need the 'latest and greatest and biggest and shinyest with the most buttons' then this is what BOAT stands for:
Break
Out
Another
Thousand.
And it ain't all for 'stupid-money' either, if you know what you're doing. If you need the 'latest and greatest and biggest and shinyest with the most buttons' then this is what BOAT stands for:
Break
Out
Another
Thousand.
Can’t take it with ya…
Realistically it’s no different than guys rolling the negative equity in their current car into a new one, and they do that shit all the time.
Debt is not necessarily a bad thing if you can pay it off quickly.
Realistically it’s no different than guys rolling the negative equity in their current car into a new one, and they do that shit all the time.
Debt is not necessarily a bad thing if you can pay it off quickly.
Either you get a loan or you don't. Either you pay cash or you don't. People need to think beyond month-to-month payments.
Yeah and idk how the banks end up being bankrupt all the time and the tax slave gets to bail them out ?
