OK, so the new mid engine Corvette was just introduced. The car is nicely equipped with electronics controlling adn showing almost everything, electronics on a bass boat controls and shows a few things, fiberglass body on the Vette, fiberglass bass boat; BIG horsepower technologically advanced V8 engine in the Vette, smaller horse power V8 or V6 hanging off the back end of the bass boat; and the base price of the Vette will be $59,995.00 while the base price of a modestly equipped 20-21 foot fiberglass bass boat, $75,000. Is there really $15,000 more value in a bass boat than a new Corvette? I

Do this. Use $75,000 as a base price for a new bass boat ( that's actually on the low side ) financed at 9% ( that's low too ) for 20 years and see what that boat actually cost. HOLY MOLY KINGFISH. If you win the lottery go for it otherwise the smart deal is a used and there's lots of them to choose from.

In case you haven't taken the time to calculate here's the answer :


Monthly Payment $674.79
Total Interest Paid $86,950.67
Total Paid $161,950.67
Still wanna buy a new bass boat? And Jim Sr. I might be wrong but I doubt very few TFF'ers have $75,000 + tax, title and license to pay cash.

Says the guy financing the house for 15-30 years paying at the very least 80k in interest on said house. But let’s put guys on blast for paying interest on what is essentially a boat rental for a few years. Makes sense.

Bee looking at new bass boats .. They sure are high can’t imagine financing a boat for 20 years at 9 percent how many people with all these new boats are upside down in them..looks better to buy used I guess...

Anyone justifying the interest paid on a home purchase as well as yearly taxes, maintenance and repair costs but laments someone for paying interest on a boat with their discretionary income is missing some necessary tools.

Interest on a 200k house? No problem! Muh truck? Absolutely! Credit cards? You bet!

A boat?! Don’t be stupid!!!

Again, needs vs. wants. And homes typically appreciate, boats dont, under any circumstances. Car is a need in most cases as well. I agree that financing a loaded vehicle with all the bells and whistles is dumb. I always buy used when it comes to vehicles. Just bought one a few months ago, got a car that gets good mileage, it's the base model. Gets me from point a to b. That's all I need. I commute 25 miles so a car is a need. When it gets down to it a boat is not a need. Or buy a used flat bottom with a TM.

People that buy houses and claim to “make money” selling them are fooling themselves..

Oh yeah? I think you forgot to add up all that those rent checks, interest deductions, and a couple of market crashes in that formula.

Why do you care if they work hard, pinch pennies and not live long enough to enjoy the fruits of their labor ? Some people just like having money in the bank and not living week to week.

Bee looking at new bass boats .. They sure are high can’t imagine financing a boat for 20 years at 9 percent how many people with all these new boats are upside down in them..looks better to buy used I guess...

People that buy houses and claim to “make money” selling them are fooling themselves. Houses only are profitable if you use them as rent houses or to flip. You pay interest, taxes (lots and lots of them), and insurance. Those things are gone... Non-recoverable. So....in three years you sell it for more than you paid. But, you could have invested that money into a IRA or some other plan and come out better renting a place to live in. Your landlord would pay all the taxes, interest, insurance, etc. and your money would be making money.



I know it sounds crazy....but buying a house, renting it out for profit and leasing a place to live in is a better income generator.

Rich Dad, Poor Dad. 101.



....as for financing a boat for 240 months? Absolutely the dumbest thing I’ve ever heard of. I’m not suggesting “save and pay cash” blah blah blah. That’s a great idea, but not realistic for everyone. I’d say look at what you can afford to spend on a hobby per month, figure an amount that can be financed for that monthly allotment, while taking into consideration resale value at the end of the financing term. The goal is to make a decision that ends with no negative equity during the last 80% of the terms.

If it means buying a $10k-$20$ boat, so be it. It’s fishing.

For the 2020 Vette comment?

Base price is $59999, but dealers are getting a $10k market charge on top of that, just to place an order...and GM ain’t gonna let you order you a base model. The average retail of a 2020 will likely wind up north of $90k.

Bee looking at new bass boats .. They sure are high can’t imagine financing a boat for 20 years at 9 percent how many people with all these new boats are upside down in them..looks better to buy used I guess...

,

Bought a 21/2 year old Ranger Z119 for 32K. 3 years later sold for 30K. Low hours no blemishes, great boat. Look hard at 2-3 year old 20ft boats until you find one in excellent shape with good maintenance records and you will be way ahead of the game,

Lots of guys can afford a new one, they're just smart enough to buy used.

After reading these post it appears we are starting to have more and more women posting in the bass fishing section.
Nobody should give a rats [censored] how or when someone spends their own damn money.

That could be said about most of the long threads on here

nobody should care about pro payout or income they get or dont get
nobody should care about mlf if they dont like it
nobody should care about bass if they dont like it

Lots of guys can afford a new one, they're just smart enough to buy used.

I am one of the ones not smart enough to buy used, but if it were not for folks like me there would be no good used boats for the smart folks to buy.

Why do you care if they work hard, pinch pennies and not live long enough to enjoy the fruits of their labor ? Some people just like having money in the bank and not living week to week.

You do make money on a home. Yes, I pay taxes. Yes I pay insurance. Yes I pay interest. Unless you are living in a cardboard box, you are paying each of those yourself even when you are renting. The landlord is including it into your rent. The landlord is not only covering his costs but usually making a small profit as he sits and waits for the home value to rise.

youre paying interest on the mortgage for the first 2/3 of the loan. Sounds like 20 years of bad investment on a typical 30yr loan.

OK, we have a rent house that my wife gave $44,000 for 32 years ago. It's now paid for. We get $1550 a month rent. It would sell tomorrow for $190,000. If she had not purchased the house and instead paid rent instead, we would be in a better financial situation you say?

I think I'll sell my boat and rent one.

I am one of the ones not smart enough to buy used, but if it were not for folks like me there would be no good used boats for the smart folks to buy.

Speaking of new, has your new baby showed up yet.

OK, so the new mid engine Corvette was just introduced. The car is nicely equipped with electronics controlling adn showing almost everything, electronics on a bass boat controls and shows a few things, fiberglass body on the Vette, fiberglass bass boat; BIG horsepower technologically advanced V8 engine in the Vette, smaller horse power V8 or V6 hanging off the back end of the bass boat; and the base price of the Vette will be $59,995.00 while the base price of a modestly equipped 20-21 foot fiberglass bass boat, $75,000. Is there really $15,000 more value in a bass boat than a new Corvette? I

There's going to be some pissed off creditors when I die.......

Or family members... Currently trying to work through all of my Mother in Laws debts, it is not fun!

So. With boat prices too high, what is a reasonable way to bring down the prices?

It isn’t just bass boats that are sky high. It’s every kind of boat. Why does the boating industry have such a grip on our wallets? Even replacement parts are crazy for the cheap quality of whatcha get! It’s nuts.

I bought my last new boat about 9 years ago. I can't afford to do it again. This one will have to last till I die.

I bought my last new boat about 9 years ago. I can't afford to do it again. This one will have to last till I die.

Give me 44k to invest and I’d more than quadruple that amount in 10 years. $200k. Not 32 years. You lost $400,000....almost half a MILLION dollars.... by tying up that money for 32 years.


Think about what that house COST you for 30 years of paying on it. Yeh. It’s paid for. No small feat for sure. But, so is all the interest, and 30 years worth of upkeep. You’re probably really on the good side about $50k. Maybe. Likely much less. If you’d have bought it, immediately put it up for rent, bought another, one year later put it up for rent, rinse repeat, for 32 years!!!! Oh my!!! You’d own a fleet of paid for in cash Vexus boats and have so much income you’d be inviting Johnny Morris to take a back seat on Saturday.

Or family members... Currently trying to work through all of my Mother in Laws debts, it is not fun!

I have laughed at every post.

Give me 44k to invest and I’d more than quadruple that amount in 10 years. $200k. Not 32 years. You lost $400,000....almost half a MILLION dollars.... by tying up that money for 32 years.


Think about what that house COST you for 30 years of paying on it. Yeh. It’s paid for. No small feat for sure. But, so is all the interest, and 30 years worth of upkeep. You’re probably really on the good side about $50k. Maybe. Likely much less. If you’d have bought it, immediately put it up for rent, bought another, one year later put it up for rent, rinse repeat, for 32 years!!!! Oh my!!! You’d own a fleet of paid for in cash Vexus boats and have so much income you’d be inviting Johnny Morris to take a back seat on Saturday.

Forgive my stupidity, but how did you come to get saddled with your MIL's debt? My mother owed money when she died. Since she had no estate, the debt died with her.

I think I'll sell my boat and rent one.

You’re right. I can honestly do it much faster. Hell, I took a 40k investment in a house on Whitney and flipped it for 110k 6 months later. 70k in 6 months worth of weekends. Lol. Yep. I think it’s doable. My wife and I, on the side, do this annually. One house a year. If we can sell it for big profit, we do. If we can’t, it’s a rental.

An investment doesn’t have to be a stock. IRA, etc. sometimes it can be sweat equity.

I’m not warren buffets buddy. I’m a guy with a full time job that’s fun. I’m NOT a big risk taker either. This is easy money. Houses, to me, are like cattle. They are there to make money. Only thing? A TON OF GUYS don’t even know which end of a saw to hold. No big deal. I can’t do my own taxes or work a cash register. To each their own.

The premise of your thread and observations about new boats are valid. But this thread has really gone off the rails.

You’re right. I can honestly do it much faster. Hell, I took a 40k investment in a house on Whitney and flipped it for 110k 6 months later. 70k in 6 months worth of weekends. Lol. Yep. I think it’s doable. My wife and I, on the side, do this annually. One house a year. If we can sell it for big profit, we do. If we can’t, it’s a rental.

An investment doesn’t have to be a stock. IRA, etc. sometimes it can be sweat equity.

I’m not warren buffets buddy. I’m a guy with a full time job that’s fun. I’m NOT a big risk taker either. This is easy money. Houses, to me, are like cattle. They are there to make money. Only thing? A TON OF GUYS don’t even know which end of a saw to hold. No big deal. I can’t do my own taxes or work a cash register. To each their own.

Lol, it's full blown stupid at this point.

Ok. Time to put your money where you mouth is. Please contact me directly. Lets write a contarct that you are gaurenteeing to quadruple my money in 10 years. I will send you a check for 500k to start. If everything goes well, we will increase the investment substatilly every year.

Lol, it's full blown stupid at this point.

Prob the worst i've ever read on TFF.

Lol, it's full blown stupid at this point.

Lots of guys drive $75,000 4x4 lifted trucks that never tow more than a flat bed with a lawn mower on it, or get off a smooth gravel road, lots of wanna be Bad Boys riding $25,000 Harleys to their $15 hour job and never take their family on a vacation, Pretty Boys driving high dollar cars that probably cost more to lease than their apartment. Same thing with boats. Lake is full of folks in $70,000 wake board boats towing little rubber rafts around, probably picked the boat out based on how loud the sound system is. Some guys buy brand new high dollar bass boats because they look cool as hell and run 90mph.

EGO has always driven guys to spend a sheet ton more money on sheet they can't afford and really have no real need for.

Plenty of guys out there that can easily afford those things as well, whether they really get any more actually benefit from it over something 1/3 the price or not. Hell, I've got a gun safe full of high dollar guns I rarely shoot. I need maybe 3 or 4 of them for variety of hunts, and one pistol for carry.

I hear Obumer is buying a 15 Mil house at Martha's Vineyard. I'm guessing he should rent.

OK, so the new mid engine Corvette was just introduced. The car is nicely equipped with electronics controlling adn showing almost everything, electronics on a bass boat controls and shows a few things, fiberglass body on the Vette, fiberglass bass boat; BIG horsepower technologically advanced V8 engine in the Vette, smaller horse power V8 or V6 hanging off the back end of the bass boat; and the base price of the Vette will be $59,995.00 while the base price of a modestly equipped 20-21 foot fiberglass bass boat, $75,000. Is there really $15,000 more value in a bass boat than a new Corvette? I

All of them lol

If you really think "ALL" people who own new things including boats are upside down on them or even have a loan for that matter you've lost your mind. I buy lots of new stuff vehicles, boats, houses. I have paid cash for all of it so what you think of people who have big loans doesn't even apply to me, but what happened to not caring what other people do with their money as long as they provided for their family? Who gives a rats a$$ if Johnny is upside down on a boat if he has a roof over his family's head, food on the table and all of their other needs taken care of. I wouldn't ever take a loan on a $75,000 boat, but I don't care if Johnny does. That's his business. Why do I want to be all up in his business? I have my own to take care of. Every time this topic gets brought up the whole thread reeks of jealousy. I see no other reason than jealousy that anybody would waste their time worrying about what new cool toy somebody owes a bunch of money on.

Says the guy financing the house for 15-30 years paying at the very least 80k in interest on said house. But let’s put guys on blast for paying interest on what is essentially a boat rental for a few years. Makes sense.

I have paid $1,225 a month for 17 years (mortgage, prop tax & insurance) for a total out of pocket $249,900. I am getting ready to sell. I will walk away with $200,000 after selling expenses. That leaves me with $49,900 out of pocket for 17 years living in a nice neighborhood. This does not include the income taxes saved by deducting property tax and mortgage interest.

I thought this was Texas FISHING Forum not Texas Financial Advice Forum....

Exactly Ken this place has gotten like the Texas B I T C H Forum

Exactly Ken this place has gotten like the Texas B I T C H Forum

I thought this was Texas FISHING Forum not Texas Financial Advice Forum....

That hurt plumb to the bone Ken. Mine wasn't advice it was an opinion so can I be excused ?

Yes Ronnie, you get a pass this time

You still need to take me fishin!

Because this countries appetite for debt is eventually going to cause big problems for some generation, the can is just being kicked down the road. We have a neighbor with a big "stop over spending" sticker on his truck and he catches lots of grief for it but he's right.

Wow, that’s about all I can say about this thread. This is better than BBC where everyone pays cash for everything. Now, everyone is paying cash and doubling or quadrupling their investments. I must be a complete idiot.

The guy who says he can quadruple your money in 10 years or whatever has lost his mind. If you think nobody can pay cash for everything they own you're right there with him.