[jato]

Over the weekend we took a ride to Red Top mountain and saw a lot of boats. My wife said "we should go boat shopping". I kind of blew if off as her being intoxicated by the sunshine and doors being off the Jeep.

Today she sends me a email that says "apparently we can get a nice boat for $15K". She is serious, she wants a GD boat! The last boat we had was many years ago and she hated it. It was a 17' Cobia Odyssey with 120hp inboard. She said it was too bouncy. I ended up giving it to a friend.

So what should I do? What (used) boat would you recommend? I not event really sure I want a boat, you know that 2 good days thing. The day you buy it and the day you sell it.

I think aliens have abducted my wife and replaced her with a double. First the Jeep now a boat.

Maybe I should say I want a pool. She said awhile ago she wanted a pool. I think I rather have a pool instead of a boat.

 

[jato]

If you have to ask about buying a boat then I would say don't.. ALSO the boat cost is only a piece of total cost, you get that partially back when selling, other cost are not recoverable. I have boated all my life, currently on my 7th boat (14 ft, 18 ft 26 ft, 18 ft, 24 ft, 32 ft and now a 21 ft & 2 PWC) with sometimes a 1 to 3 years between each. (family issues, infants to college and other changes can temporarily alter your plans). Would you rather be out shooting, off-roading, golfing or boating ?. If answer is boating then go for it..if undecided then rent.
Financially.. as far as the boat itself paying cash figure $XXK up front then sell in XX years for $XXk, if financed add interest cost. Now add OTHER costs, if you use it 10 times a year figuring in boat insurance, tow insurance, boat ad valorem tax, gas/oil, yearly maintenance $100-200, trailer tags, boat registration, toys/safety equipment, storage ?, etc. I would put a low cost estimate of $100-200 each outing (without financing figured in). Less than 10 times a year increases the per-use $$, more used decreases per-use cost. Also 17 foot is to small and uncomfortable on a breezy heavy traffic day out on Allatoona or Lanier, think about minimum 20 feet for 2 plus guests or children. That means a 5K lb trailer and vehicle to pull it (jeep probably not), if you have a HOA restrictions then add a $50+ month lot storage, or add $175-200 a month dry slip or in water for marina fees (if in water add bottom protection/cleaning costs). That all assumes nothing breaks in those ten years like a lower unit, starter, alternator, bilge pump, electronics, damaged prop, etc..
I have seen more than I can count of non-committed boat owners droping out, selling or sometimes just abandoning the boat due to costs after few years. Never buy without thinking re-sale value, I have never bought new, depreciation kills any chance of recovering cost. Avoid dealers, buy a good used boat from someone wanting out of boating, I've sold some for more than I paid, others for slightly less, moved my way up and downsized never really taking a financial hit.. There a lots of owners financially under water in payments asking crazy high prices in denial over the depreciation costs. Avoid them, they are very difficult to negotiate a purchase from, and unwilling to accept the cold facts about actual market value of a used boat. Bought my latest boat for what the owner owed the bank, he sold it low to get out of debt..lost all his equity and deposit, but wanted out of monthly upkeep costs. That was 5 years ago and I could sell now for a more than I paid.

Thanks