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Re: Boat prices???
[Re: Happykamper]
#13252137
08/18/19 10:38 PM
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Joined: Jan 2018
Posts: 2,561
Jeff From Iowa
Extreme Angler
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Extreme Angler
Joined: Jan 2018
Posts: 2,561 |
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. thats no lie thank you for your service!
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Re: Boat prices???
[Re: GIG'EM AGGIES]
#13252138
08/18/19 10:38 PM
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Joined: Feb 2011
Posts: 2,009
sprigsss
Extreme Angler
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Extreme Angler
Joined: Feb 2011
Posts: 2,009 |
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. I dont care what they do with their money. Im not the one calling others idiots, not smart enough, etc. I like having money in the bank too, thats why i dont pay cash. I pay three premiums/month on my house, financed my demo boat for 15 years and pay 2 months premiums and invest extra money that i can save. I do think the argument over renting/buying a house is ridiculous. If you rent you will have a note for years. I dont plan on having a house note forever. Its also funny that same person arguing for renting a house stated the only way to make money on a house is to buy and rent out. Why is that? Cause renting is more expensive than buying. Sure you are paying for insurance and taxes, but after you sell, bad case is you are out of that insurance and taxes. You will more thab likely recoup more than that when you sell. When you rent and move out, you get 1 or 2 months rent back.
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Re: Boat prices???
[Re: Bobby Milam]
#13252148
08/18/19 10:54 PM
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Joined: May 2011
Posts: 175
GoPokes
Outdoorsman
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Outdoorsman
Joined: May 2011
Posts: 175 |
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. 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. Exactly. Steeze seems like an otherwise sensible person, but I had to log in to comment on this lunacy. Where does the landlord make a profit from renting houses I wonder? I do it by figuring in my mortgage cost, including interest, taxes and insurance, then add the profit margin on top of that. That is how the rental market is set. Now, if you want to argue the merits of a 30 vs a 15 year mortgage, you're getting more in the ballpark of this conversation.
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Re: Boat prices???
[Re: daman]
#13252167
08/18/19 11:10 PM
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Joined: Apr 2017
Posts: 12,142
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 12,142 |
There's going to be some pissed off creditors when I die.......
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Re: Boat prices???
[Re: SteezMacQueen]
#13252253
08/19/19 12:27 AM
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Joined: May 2019
Posts: 2,735
ReelSlow
Extreme Angler
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Extreme Angler
Joined: May 2019
Posts: 2,735 |
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. 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?
GOD is good!
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Re: Boat prices???
[Re: daman]
#13252256
08/19/19 12:29 AM
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Joined: Nov 2014
Posts: 23,362
SteezMacQueen
TFF Guru
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TFF Guru
Joined: Nov 2014
Posts: 23,362 |
Say you “buy” a house for $100,000 and live in it for 3 years and then sell it for $110,000. Sounds like you made 10% on your investment. But, you didn’t. You paid $40,000 over three years in interest(mortgage), maintenance, and upgrades . Net loss is $30,000. About what you’d pay in rent for three years. Net is the same.
Your home value would have to go up in value slightly more each month than you pay in mortgage, maintainence, upgrades for you to make money. It’s so simple that most home owners (debt laden mortgage payers) can’t understand the math.
For the record, I have several homes that I currently have financed, I’l never OWN any of them. Haha Three of them offset the costs of the one I live in. So, by investments, I have a shelter to live in that is a “break even”. Or, as most think of it....free. But, ain’t none of them free.
Eat. Sleep. Fish.
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Re: Boat prices???
[Re: ReelSlow]
#13252259
08/19/19 12:32 AM
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Joined: Nov 2014
Posts: 23,362
SteezMacQueen
TFF Guru
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TFF Guru
Joined: Nov 2014
Posts: 23,362 |
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. 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? 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.
Eat. Sleep. Fish.
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Re: Boat prices???
[Re: daman]
#13252271
08/19/19 12:44 AM
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Joined: Nov 2014
Posts: 23,362
SteezMacQueen
TFF Guru
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TFF Guru
Joined: Nov 2014
Posts: 23,362 |
Enough on houses.
Boats cost too much.
Eat. Sleep. Fish.
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Re: Boat prices???
[Re: daman]
#13252286
08/19/19 12:58 AM
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Joined: Feb 2011
Posts: 2,009
sprigsss
Extreme Angler
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Extreme Angler
Joined: Feb 2011
Posts: 2,009 |
How much would one have spent on rent in 32 years?
I mean at least when you moved out you get 1 months rent back.
Sorry but when you rent you are paying mortgage and then some.
You move out, you get a deposit back. Landlord sells, he gets value of hkme plus all the rent he collected over the years. No matter what kind of fuzzy math you use, you will.never come out ahead renting.
Last edited by sprigsss; 08/19/19 01:00 AM.
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Re: Boat prices???
[Re: daman]
#13252321
08/19/19 01:27 AM
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Joined: May 2019
Posts: 2,735
ReelSlow
Extreme Angler
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Extreme Angler
Joined: May 2019
Posts: 2,735 |
I think I'll sell my boat and rent one.
GOD is good!
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Re: Boat prices???
[Re: ReelSlow]
#13252412
08/19/19 03:47 AM
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Joined: Jan 2017
Posts: 105
BorNella
Outdoorsman
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Outdoorsman
Joined: Jan 2017
Posts: 105 |
I think I'll sell my boat and rent one. This post wins
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Re: Boat prices???
[Re: daman]
#13252447
08/19/19 06:24 AM
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Joined: Mar 2016
Posts: 1,820
dk2429
Extreme Angler
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Extreme Angler
Joined: Mar 2016
Posts: 1,820 |
Lol these comments are funny.
Like everyone said, go used for sure. The deprecation in value once it rolls of the lot plummets worse than a new car/truck. Find a nice 2008-2012 or so used that's been taken care of for a good deal and bite the bullet. Sticker on our rig brand new was $67,000. It's a 2008, bought it in 2015 with 170hrs for $24,000k. Literally no sense in dropping money on a brand new boat.
Majek 22 Extreme/225 Optimax Pro XS hauled by a 2500HD Duramax
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Re: Boat prices???
[Re: daman]
#13252452
08/19/19 08:00 AM
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Joined: Jul 2014
Posts: 4,340
Bobby Milam
TFF Team Angler
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TFF Team Angler
Joined: Jul 2014
Posts: 4,340 |
If no one bought a new boat, you wouldn’t have used boats to buy cheaper.
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Re: Boat prices???
[Re: daman]
#13252568
08/19/19 12:50 PM
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Joined: Oct 2008
Posts: 496
popcork
Angler
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Angler
Joined: Oct 2008
Posts: 496 |
Boat prices are way too high! My experience with used vehicles has been awful both have been lemons, so buying a used boat is scary to me. I would rather own a home than rent one. 9% financing on anything is ridiculous.
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Re: Boat prices???
[Re: daman]
#13252574
08/19/19 12:57 PM
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Joined: Nov 2014
Posts: 23,362
SteezMacQueen
TFF Guru
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TFF Guru
Joined: Nov 2014
Posts: 23,362 |
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.
Eat. Sleep. Fish.
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