Do many owners borrow to buy a boat?

[SteveGorst]

Its a philosophical question isn't it. Life is finite and you'll never get that time back that you spent saving up for your dream boat. I have always paid cash for boats and borrowed for cars but I can full understand why someone with guaranteed regular excess income would borrow against it for a boat.

 

[westhinder]

Its a philosophical question isn't it. Life is finite and you'll never get that time back that you spent saving up for your dream boat. I have always paid cash for boats and borrowed for cars but I can full understand why someone with guaranteed regular excess income would borrow against it for a boat.

I think you nailed it. That’s exactly the reason why we borrowed to finance part of our first boat 23 years ago. We haven’t regretted it for one minute, and thinking of all the wonderful moments we and our children have had on the boat, it is probably the best financial decision we have ever made.

 

[lustyd]

I can full understand why someone with guaranteed regular excess income would borrow against it for a boat.

This seems to assume borrowing because the money isn't there. A lot of people will have the funds and still borrow (and pay the minimum payments!) because the money is better used elsewhere. I might not have an income at all yet still borrow to buy in order to stay invested longer elsewhere.