I should wait.!... I should wait..?.. but I don't want to!!

Re: I should wait.!... I should wait..?.. but I don\'t want to!!

I thought boats were a bit like cars

1st year 20% loss in value
By 3rd year 50% lost
steady drop in value follows unless you have a sort after quality model which starts to hold value after year 10.

Hold on to what you have got firefly, enjoy it.
With the money you are going to save on wasted finance, accumulating in the bank you will be able to afford the larger boat in no time at all :cool:
If things dont work out and you cant afford it then you will be in a much stronger position than shackled by a load more debt.
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

Look, You know you want it, you just want us to assure you, you are doing the right thing.
So stop being a wimp and go and buy the bloody thing!!! :grin:
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

you've read me like a book ;-)

However, I have now come full circle and I am going to pursue the two used 760's I have found in Jersey, one must be still for sale, failing that the brokers are also advertising a MF805 at similar money which would also suit what I want....

Thanks for everyone's egging on!!
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

Righto then , ooops ! sorry

Still applies to some extent though I suppose. It is not far off the truth though, once you hit 60 or so there is precious little time left when you factor in all the other demands on your time. Just had news from one of our colleagues in the States, client just about to take delivery of a 70 , 64 years old, found dead on the floor of his home last week, boat is half way to Florida from the shipyard for commissioning before delivery, guess its going to be an executors sale now :-(
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

How very sad....

My plan is to buy a used 760 and search the country for the cheapest/newest one I can find. As I have already posted, there are 3 boats in jersey, 2 760 and a MF 805. Even if they are a bit neglected, as long as the engine has been looked after I am more than able to bring them up to scratch, probably wouldn't lose any money on them if I keep 2 or 3 years and then change for a new Antares 8... if that's what i still want at that time... or perhaps if business is good my dream boat (Nelson 42 Mk2)!!!

http://www.ancasta.co.uk/BoatDetails.aspx?boatId=23384
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

I think 50% loss after three years (factoring in the current climate of course) is fair for a reasonably popular model.

In steadier times 35% would be more reasonable, you'll loose the vat in the first year and 10% a year thereafter , bear in mind that in three years the price of a new one will have gone up so 35% off the price you paid is likely to be 45% less than the price of a new one which is fair.
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

On the SWMBO front,

She is far more likely to go for a new one and be willing to save a few pounds! My SWMBO says that if she has to be miserable for 6 months of the year over the winter with no money so that we can buy and run a boat she wants the biggest nicest one for the summer!

In reality if putting it on Finance for only 3 years you are not taking on that much finance risk.

Also consider that those old boats will need upgrades, repairs and additional maintenance. You may be saving £200 a month on finance but if it is costing you an additional £1000 a year on running costs then that is actually only £100 a month extra spent. £100 a month is a tank of fuel, a few curries out or a great meal out. I would bite the bullet, get the finance and go for new. In three years you will have had a great time, SWMBO will have been more comfortable/happy and will then own it. If times are bad you can sell her or if times are good buy a bigger. Remember you need to keep SWMBO happy and buying a bigger older boat does not always work (I know..they like shiny and new)

Also dealers like to buy up newer models to keep up the prices SH so if moving to an Antares 9 in 3 years the dealer will odds on give you a great deal on the trade in on an Antares 8 that is 3 years old.

One last thing. If things go bad shifting a 7 year old Anatres 760 where there are several on the market may be harder than shifting a one year old new model Antares 8 which still have limited availability SH. You will take a financial hit in both cases but it is the time to realise the cash which is important.

So sod the old heap...at a great price buy new! Finance it short term, cut out the curries and keep SWMBO happy.... :cool:

Cheers whatever you decide to do, life is far to short to take no risks at all....

Paul :)
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

On the SWMBO front....
I know..they like shiny and new
Click to expand...
You are absolutely right. We looked at second hand S37's back in 2001 and all were needing some renovation and quite expensive. We had a deal on a new one (good trade ins with Sealine for Sealine in those days!!) and the wife was hooked on new and got involved with fabric selection etc....never looked back. Buy Buy Buy!!!
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

On the SWMBO front,

She is far more likely to go for a new one and be willing to save a few pounds! My SWMBO says that if she has to be miserable for 6 months of the year over the winter with no money so that we can buy and run a boat she wants the biggest nicest one for the summer!

In reality if putting it on Finance for only 3 years you are not taking on that much finance risk.

Also consider that those old boats will need upgrades, repairs and additional maintenance. You may be saving £200 a month on finance but if it is costing you an additional £1000 a year on running costs then that is actually only £100 a month extra spent. £100 a month is a tank of fuel, a few curries out or a great meal out. I would bite the bullet, get the finance and go for new. In three years you will have had a great time, SWMBO will have been more comfortable/happy and will then own it. If times are bad you can sell her or if times are good buy a bigger. Remember you need to keep SWMBO happy and buying a bigger older boat does not always work (I know..they like shiny and new)

Also dealers like to buy up newer models to keep up the prices SH so if moving to an Antares 9 in 3 years the dealer will odds on give you a great deal on the trade in on an Antares 8 that is 3 years old.

One last thing. If things go bad shifting a 7 year old Anatres 760 where there are several on the market may be harder than shifting a one year old new model Antares 8 which still have limited availability SH. You will take a financial hit in both cases but it is the time to realise the cash which is important.

So sod the old heap...at a great price buy new! Finance it short term, cut out the curries and keep SWMBO happy.... :cool:

Cheers whatever you decide to do, life is far to short to take no risks at all....

Paul :)
Click to expand...



.....oh crap. Just when I thought I had made up my mind........unfortunately some sensible remarks here, thanks Paul
 
Re: I should wait.!... I should wait..?.. but I don\'t want to!!

I have learn't the hard way. Too many boats bought that were wrong...and that is expensive!

Nearly bought a boat last week but condition put off SWMBO. (Older bigger boat) She said lets have a few less meals out and buy a newer one.

Take SWMBO to see the new one...and if she smiles you can buy it! :cool:

Paul :)
 
I believe in the opposite chain of thought. I like boats that are beyond depreciation and enjoy bringing them up to latest spec', but then I enjoy the work as much as the water and it has stood me in good stead over the the years. All my boats have been personalised to my requirements without the fear that if I change anything for the better it will still lose money as it is not bog standard.
Of course there is also the other reason that I can't afford new!!!
 
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