Okay probably a question asked a million times here, but Ill ask again for the TTF members to give opinions!

My hypothetical goes like this. I am saving about 25 grand for a bass boat. I want to buy the boat straight-up, no loans, no haggles, no bulsh, just pay cash!

Now question is, do you take the 25 grand and buy the smaller but new 18.5 footer or do you go with a used later model hopefully no older than a 2007 boat thats longer and has more HP and potentially rigged right? if you can find one???

Would want to fish it in weekend team tournaments.

Please I know that their are probably a million factors, but help me keep this simple! I understand the variables, whats being offered with the used boat, hours on motor, amount of care taken with boat, warranty, if its your moms uncles, etc..Just lets say you found a used boat you like, but you could buy a shorter brand new boat and like the idea of warranty, and reliability, just hate the idea of 18.5 length boat?

What say you

Oh and if the idea of taking the 25+ grand and buying a boat outright is stupid to do, please let me know! Cause to me I'd rather just buy the boat outright then get into a loan! Id rather pay myself before paying "the man"! Plus I figure I could just build from there, save for the potential upgrade while fishing?

Older boats that have been well cared for and in good shape are sometimes tough to find. If you can land one though you're better off financially whether it is a larger boat or a smaller boat less then your $25K goal. It would be a tough call for me personally though to spend that kind of money and not still have some kind of factory warranty left on the outboard. But that is just me.

If you spend 99% of your saving to buy a boat just so you can say you paid cash is crazy. In other words if you have $50K in the bank go for it. If you only have $26K just put a big down payment like $10-$15K and pay-off the rest. If something happens you can always pay it off later. I sleep better at night knowing I have money in the bank, not because I have no payments. Of course this is pending your able to get a loan in the first place.

Financing toys is silly. Most of us have done it but I won't consider it anymore if the interest rate is over 4.5%. In my opinion the best way to buy is to find a boat that is 2 years old or newer. You should still have all the warranties but you don't pay for the initial depreciation.
Joe

USED!!!

Definitely used. Give yourself plenty of time to shop and be disciplined in your search and you will be a happy camper when you find the right boat. If you can resist the fever to buy in a hurry, you will be surprised at the number of quality boats you find. Congrats on saving and paying cash. It is a great feeling to know your rig is paid for.

If you "hate" the idea of an 18.5' boat, then don't buy one. You will end up trying to sell it in a couple years to buy the size boat you really want. I'd either buy a larger used boat for 25k, or just put 25k down on the exact boat you want. You may not find what you want for 25k, but you should be able to find it for about 35k. Those 50k new boats take a huge hit in the first few years. Financing 10k or so would be cake. Just pay it off as soon as you can.

The used boat market is really a good place to look. In our business about 75% of the loans we write are for used boats. Most guys that buy new change every 2 - 3 years. Team and pro guys have to change often. Keep your eye open and like someone else mentioned, don't jump too fast at the first thing. That being said, when you do find the one, then move fast. Things are selling. Just my opinion, I would put down a nice down payment and get a loan for the rest. ALWAYS pay extra each month and the interest rate becomes a non-factor. Boats are built and sold every day. Let us know how we can help. Thanks, Ken

I love my 18.5' boat. She keeps me out fishing on Lewisville in weather that sends guys with big boats running for cover!

Get the boat that makes you happy. +1 to Dyollps statement. if you hate the idea of the smaller boat, then you'll be unhappy with the real thing.

You can find a good deal on a used boat that will make you happy for your cash purchase budget.

If you the bang for your buck look at a nicely riggers aluminum or shallow running bay boat. Both can be had in that price range. That being said, I needed 2 boats. One that I was comfortable with a 4 and 5 year old that I could use at the coast and a boat small enough for just me. My budget didn't allow for 2 new boats so Ivended up with a used 19' blue wave bay boat and a 17' aluminum xpress bass boat. Took me 8 months to find the bay and a year to find the bass. By the time I found them both I had enough to pay in cash, put an hds 8 gen2 and hds 7 with SS and terrova ipilot w/ us2 on the bass boat. I knew exactly what I wanted and waited and couldn't be happier. I now own 2 assets with no liability.

If you buy a new boat make sure you can pay it off before its time for it to die, take really good care of it so you can have a nice boat when its paid off. I will pesonaly never buy a new boat again. Had it stolen in 2003 never got recovered then had hell with the finace company when the insurance company went to pay it off because they kept disagreeing with the vaule of the boat. Look around on here & craigs list at the new boats that are 1-3 years old that are still new only used a few times a year and look at what there selling for and the lost on the vaule they have taken a hit on. If I ever buy a new boat again I will buy a nice 1-2 year old boat like I see on here and wont take such a big hit if any. If you can buy a new boat go for it I think any body that buys a new one im happy for, but its just not for me any more.

You know its just not the boat payment, its the storage,gas to go to the lake,40.00 dollar gallon 2 stroke oil, if you go 2 stroke. Or the 4 stroke oil change each year. Insurance. I remember storage and insurance added another 110.00 a month on top off the boat payment I had. I had a chance to buy the Ranger Cabelas limited edition boat this weekend and get rid off the 1994 21' bass boat I got over half way done. But when all said & done it was going to be almost 70,000 out the door, I just couldnt sighn the papers. My wife was shocked I didnt get it after she was like I dont care if thats what you want. I just thought of the new/ used a few times boats on here I could buy for way less if I really wanted one. Maybe after my last daughter gets out of high school but for now I will stick with the 1994.

I believe the new normal in this country is not how big and pretty your boat is but whether it is paid off. If you listen to Dave Ramsey the true status symbol in America will not be how many toys you have but are you debt free. That is why I bought a 03 Ranger with cash.

Chatto that couldnt be more than so right. I see one of my family members thats so far in debt its crazy. Not that they dont make enough money they just dont know how to budget. Just because you can afford the max amount on something dont mean you should buy it.

I would only buy what I could afford.

If I were you, I would buy the cleanest USED 20' bass boat for $15-$20k max and put the rest in the bank. If you want the larger boat, don't compromise because you won't be happy after a while. Personally, I love 18.5' boats with 150-175 hp motors for lots of reasons. But if you plan to fish a lot of tournaments you will enjoy the extra storage and room in the larger boat. The extra money in the bank will help when unexpected things happen or you want to upgrade or replace something. Enjoy the search! Good luck!