Typically how long does the average angler keep there boat? Is there anyone out there that purchases a boat and keeps it the duration of the loan, or is that a thing of the past? Some say that they "Would never buy a new boat off the showroom floor!!" That is where my initial question is directed for!!!

I bought new in '99. Still have the boat. Upgraded the electronics and trolling motor along with standard maintenance and fixing broken/wore out parts.

Because of the price of new (Higher End) boats many folks have 10+ year loans. I have seen some places that will go 12-15 and even 20 years. Try doing this little experiment. Check out the prices of a couple new boats and what the loan terms would be for say 10 years. Now do a google search for the same boats for sale that are about 8 years old. Now check out the difference in what is owed vs what they are asking for them. Then get a NADA/KBB value on the same boat. If you are as frugal as I am, you will be horrified at what you find.

No way I would EVER finance a boat longer than 6 years. It's a death trap of an investment. Even 6 years is tough. If I had to finance one, I'd bite the bullet and go 5 years @ $1000 a month before I'd go 15 years at $500...lol.

Fools.

Best to pay cash. Or buy less boat. IMO

When I bought mine in was close to 35k. Champion 203. Financed for 10 years, paid it off in less than 5. Sadly a comparable boat new today, is probably twice that much. If I ever get another boat, I'll pay cash.

Paying cash and financing for 5 years is of course the best---IF you can afford to do this, which 90% of boat owners do not do! If this were the only way to do so, boat manufacturers would go out of business due to the lack of sales.

X2!

I bought a new one in '97 that way, and my current boat in 2014 with no payments. I plan on this boat lasting me 20 years, but I said that on the last one too. I take care of them very well, and when I sold the '97 Champion 202, I got a good amount for it.

I bought a new one and have kept it for 16 years, I've now gotten bored with it and decided to sell it. Can't afford a new one with the ridiculous prices.

Thanks guys, all great information! I know there are people out there that budget for a boat payment, and flip every couple of years. Unfortunately, I don't have the assets to go in a pay cash for the type of rig that I would like. Our last boat we bought from a guy who won it in a tournament and have had it since 1986. Financing something for 15 plus years seems to be the only option to be able to afford a new boat but when you run the numbers, a little piece of you dies inside to see how much you actually just paid for it. Unless of course you could refinance after several years. All of which seem like horrible ideas...but other than being extremely well off or winning the lotto...how does a common every day fella afford such a boat??

You either go elbow deep in debt or you hope to inherit money. I'm always looking at new boats and every year I swear that the price can't get any higher and every year the prices keep getting higher. Odds are I'll never be able to afford a new boat again.

+1-------I'm with you!!

Thanks for the input fellas...been to a few boat shows and have been trying to crunch the numbers...and all of what you've pointed out!! Doesn't make you feel any better about it though!!

Don't forget to add in the annual cost of insurance for the new boat, cost of trailer tags, cost of service maintenance, $$$$. If you're even close to being on a budget you better downsize or buy used.

sometimes older is better imo.

paid cash, put more cash into it as I could and now would put this ole 184 up against any 18-19' for fishability.

I have no problem with whatever anyone wants to buy, I just can't see justifying a bass boat that costs more than some peoples homes.

paid for is good.

I have/had a nice boat since 1986 won in a tournament on cedar creek in 1986. (Skeeter star fire Sf-150) This boat was purchased by my dad at the time and then passed onto me when he did not use it. It sat in a garage for over 12 years and I rescued it. Unfortunately, the transom dry rotted and to fix it is going to cost the total worth of the boat. This is what has spurred me to enquire about just purchasing a new boat...A WINE TASTE ON A BEER BUDGET so to speak. Although the amount paid is quite astronomical, I figured we've kept this rig in the family, so that is why I wanted to know if any of y'all would admit to having the same thoughts or if any one would admit thinking crazy 240 month crazy! I guess I could drop the 4500 on fixing the old bug but that sure would be a nice down payment on a new to me or new rig!!!