how do people afford bigger boats

cjrvernon

cjrvernon

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Joined
25 Sep 2003
Messages
148
Location
skegness , lincolnshire
www.cjrvernon.com
i bought my new boat in march this year and spent £60000 on it
financed £40000 over 7 years

i fancy a flybridge cruiser next but the one i like is £180000
how are you supposed to finance that
i shall only keep the one ive got for 2 years sell it pay the finance off and
start all over again
 
Step by step guide to affording a bigger boat:

1. Break into a secluded farmhouse and steal shotgun

2. Call into any High Street Bank or Building Society and ask for an "immediate cash withdrawal

3. Buy bigger boat and immediately set sail for South America or anywhere that does not have an extradition treaty with the UK
 
intend to buy a bigger boat that needs work when i have a bit more exsperience.and money but it just so happens i have seen a itama 160 that needs work for 15000 but there is a catch it is in croatia and needs complete interior refit.etc hmm one day.but thats how i would do it
 
Course the other way, not popular these days I know, but.

Spend a life time saving. First you buy all the things you really need, house car furniture etc.

If and when you have all you need, also having built up a contingency fund for the various disasters that are bound to happen, if theres still some spare, you can buy a boat. Course by this time you have probably earned enough in interest to get the boat free.

The added bonus of this method is whilst earning ££ in interest and not spending ££££££ in interest payments to other folk, you not unsurprisingly find money much harder to part with, so buy a second hand boat. Cos your not paying interest, you actually find that the big boat actually cost much less than the little boat on finance. After buying the boat and of course still saving, eventually the money is back in the bank, but you dont buy another one and remain happy with the one you've got for many years, when you will probably get back nearly what you paid for it.

Think it's called living within your means!! /forums/images/graemlins/smile.gif
 
Work hard, save regulary, invest wisely and re-train when required to keep at the top in whatever job is paying the best. Also don't owe money to anyone, thats a mugs game.
 
Sounds good in theory but this aint a dress rehersal (or as my wife is oft heard to say 'you're a long time looking at the lid') /forums/images/graemlins/grin.gif

Most of us couldn't hope to save enough for a decent boat untill reaching old age and then there isn't much time to enjoy the fruits of your labours.

I think it's all about choices - we decided our current house was adequate and that a boat instead of the next move up the property ladder would add far more to our lives. Not all that bad an investment if you buy wisely - given boats tend to hold thier value after a certain age.
 
Most of us couldn't hope to save enough for a decent boat untill reaching old age and then there isn't much time to enjoy the fruits of your labours.

Well theres loads of folk who cant afford a boat, nowt wrong with that.

But your argement suggests you can afford to pay 10% ?? in interest, more than those who can afford a boat. /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif
 
I s'pose all I'm saying is that we think it is worth paying interest etc to enjoy boat ownership now rather than waiting untill retirement allows us to buy outright, by which time variables such as health etc are more likely to be an issue. No diferent than how we buy a house, car etc etc.

In short, live for today because there might not be a tommorrow /forums/images/graemlins/shocked.gif
 
I look at it the other way round, sooner or later things are not going to go to plan, so I make contingency plans. Ferinstance, I'd planned for most things, but the the wife wanted a divorce.

Halving everything I'd worked for overnight. Then my biggest customer closed down, so wiping my business out. But I'm still solvent with money in the bank and still got a boat!!
 
ok so we are decided to live for today and without going beyond your means!
i still say the obvious answer is to buy something that needs work most people wouldnt flinch at buying a house that needed new wallpaper and modernisation would they.
i see boats to be the ok maybe not as simple but its one way to get the boat you realy want!!
 
Or you could build one yourself. That way you'll get a boat much bigger than you could otherwise afford. Takes about six years to do though!
 
Not true. Most folk would not dream of buying a house, less it was the right colour, with a new kitchen. Cost about two grand, but they pay, 20-30 grand more. Most folks are mugs. Luckily!! /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif
 
[ QUOTE ]
most people wouldnt flinch at buying a house that needed new wallpaper and modernisation

[/ QUOTE ]

You see them all the time on these DIY shows not being able to see past the current owners grotty sofa let alone the wallpaper. A couple of days later they're happy to pay thousands more for the same house with a lick of paint.

I expect most people looking at a boat would be even more fussy.
 
[ QUOTE ]
........the wife wanted a divorce. Halving everything I'd worked for overnight.........

[/ QUOTE ]

Isn't that a good argument for not saving?

Either............. the ex wife gets half your money,
or............. live in debt, sell the boat to settle the finance, she gets nowt, wave goodbye, then get another loan to buy another boat.........

If you can't get the loan you want, Peter Mandellson's yer man
 
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