how do people afford bigger boats

Here's my method - instead of wasting £60k on a depreciating liability, go back to 1997 and buy a slightly run down 1930's semi-detached in Birmingham for £46.5k and immediately rent it to a mate who is in the music biz and can't get a mortgage. Charge him rent equivalent to the mortgage on the understanding he does the place up and let him stay for a few years. Wait until 2005 when said house becomes vacant and sell for a profit of £150k. Buy flybridge yacht. . . . . . /forums/images/graemlins/grin.gif

PS - it helps if you are also not married so you can spend said money on boat, not moving to a bigger house!
 
brilliant theory..old fashioned but o k...its called saving up
but I want it and I want it now
thats the modern way????
 
Here's some ways, only one of which I recommend
Borrow a lot of money on a marine mortgage
Remortgage the house
Rob a bank
Murder a rich uncle
Marry a rich widow
Work either hard or smart, save a few bob, don't get married or don't get divorced
 
I have a very profitable part time job as a drug dealer........How do people afford boats....Finance I'd say. Look at any of the shows and see how many finance co's are there. Even the dealers sell finance. I've never been one for finance which is why I've had the same boat for the last 9 years.....I can't afford another boat.....yet!
 
Don't have children !

I'm having to sell my little boat cos I'm having one ?


Need a bigger one cos its more Child Friendly
 
Very strange how so many folks think banks are there to help them, very view seem aware that the banks are just rubbing there hands and waiting for default, then they get there grubby hands on your wealth for half price, even if not, they still get a goodly slice. Plus forced insurance scams, payments for this and that. Not an expert. I dont go there!!

Once had a morgage with Barclays, I'd had it for quite a few years. Then they realised I'd no Morgage protection policy. So sent a man round to persuade me. He was there for hours. You must have Morgage protection. Why, how does it help me. In case you cant pay! But that protects you not me. So you pay, I said. Still he argued, but I did not really care. I was only having fun with him, little did he know. I went through the facts, that in one account or another. I had ten times the morgage. Still he wanted his flesh. When I'd grown tierd of the fun and arguement. I told him to piss off. And he did. With his tail between his legs. It's not about money, it's about staying in control. I choose the boat I want and the life style. Not some jumped up bank manager.

I have a beautiful boat, very capable and most of all paid for. It goes anywhere and every where it's asked to. With no worries!!
 
Do what a lot of folk do - put it through your business as "corporate entertaining" and let the tax man pay for it.
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"Artificial intelligence is no match for natural stupidity"
 
itama.jpg

theres a boat 48ft £15,000 BARGAIN /forums/images/graemlins/confused.gif
well maybe but if you search you will find something somewhere that is just what you want and as this model is on other sites at over 100,000 u could even make a profit.
 
I always buy a new boat after a promotion! Mind you all my friends bought a bigger house after a promotion. End result is that they have bigger houses than me and smaller mortgages.

The other way to afford a boat is good old sacrifice. We do not go out except on free does with work or key suppliers. The money we save pays for the marine mortgage. Yes I did once have the cash to buy boats outright but I got cleared out by a Divorce as well.

We were due another new boat but chose a bigger house (and a move from north to south), a baby and SWMBO is staying off work for 3 years to baby sit.

It is all about lifesyle choice. I could go and spend a large amount on a new boat and get a substantially bigger marine mortgage. Problem is I would have no money to use and enjoy it.

So there you go, I have been absolutely no help at all,

Paul
 
The best boat is the boat you can have fun in, and above all whilst not crucyfing yourself financially.

IMHO at current interest rates vs inflation financing is best avoided if at all poss; what about something older and well maintained; get a good engineer to sort it and you will get just as much enjoyment. might not have that sexy new smell and the latest styling, but hey, that styling will be out of date in 5 years anyway and everyone loves a classic!
 
My first boat was 8ft, second 16ft we enjoyed them both, OK we got better off and saved, so now have 35ft boat. We got used to the ability to go, with in reason, anywhere we choose. I've been informed that M Farter is to be set loose again early october and will be churning the western seas regardless of fuel costs, though you can bet, it will be the cheapest!!
 
Their are many paths to get you hearts desire onto the water.Must admit have followed the HLB patented system of boat purchase with a minor variations.Have worked to present very modest boat via a string of even smaller scruffier tubs which were bought and sold as money/family/poverty kids permitted.Have never bought a boat subject on HP,only method has been to offer what I am prepared to pay for any boat as seen/ standing with no sea trial/survey or other strings attached and rely on my own judgement and the fact that sooner or later someone has got to sell either cos fed up or wife has told him to get rid.This means of course,that there will never be a new or nearly new boat lying on my mooring,but has resulted in being able to consider upgrading to better boat while all around is a wailing and knashing of teeth,due to red diesel/cost of moorings/the economy etc etc .
 
My own method, in which I am not alone, is simply to downsize your house.
Sell up, buy something a bit smaller and spend the difference on boat of dreams. As an added bonus you can then afford to run said boat too, because there's no finance repayments every month.
Depends on how big your house is of course!
 
astardB Bankers.

Wanted a loan to help buy my industrial unit,the bank (Barclays), kindly offered me "Mortgage Protection".They knew b****y well that being self employed that the chances of me being able to claim anything ever was nil.But this is the good bit,they lend you the money up front to pay the protection premium up front at the start of the mortgage and they then add this to the loan.You are borrowing money from them to protect them from you not paying back the loan.Cannot remember the exact numbers but the loan was 10K and the total amount payable for the protection with the interest was around 2K. /forums/images/graemlins/mad.gif
 
[ QUOTE ]
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

[/ QUOTE ] You seem like a lender's (wet) dream.

Have you quantified why you 'fancy' a bigger flybridge model. Not just because other people have them and you feel left out is it?

Settle for what you can afford and enjoy it. Less finance = more fuel.
 
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