11 replies to this topic

[TheRiver]

My family has been going out to Topock AZ for over 40 years and we, (espically me grandparents are parents), are amazed at how many nice and expensive boats they see out on the water. We have a 1991 Four Winns bowrider and feel like hoboes out there

This may seem like a really stupid question, but how the hell can so many people afford these beautiful boats? A guy at West Marine told me that many people take out liens against their homes to pay for their $100K boats, is this true? Also heard that several families will invest in a boat together? Thanks!

Edited by TheRiver, 31 August 2009 - 03:30 PM.
typo

[BOOBMAN]

I have heard people taking out a 2nd on there home. I did meet a ex football player at Pirate Cove last weekend he had a Force 32 footer so there are people out there with money. Alot of people also made some money before everything went to S_HIT butt who knows maybe the money people will respond and let us know

[ltr450rider]

Alot of the people I talked to over the past 5 years have been taking out rediculous loans. I talked to a guy who took a 2nd out on his house and got approved for a 30 year loan on a $150k boat. I havn't seen him out there since, I think I know what probably happened.

I'm sure half of the boats you see today are still bank owned and the ones that aren't are drivin by the smart guy who waited till the right time and bought that $150k boat for $70k. I was talkin to a repo guy at the Dumont night drags a few weeks ago where he found a 38' twin viper motor boat at auction for $80k. That's a $300k rig.

[TheRiver]

Good find on the Viper

[Nolsky]

Yeah there is defantly alot of bank owed boats out there. But there is alot ballers too. some big money makers. or like Boob Man said some ppl made some good money when the economy was pumping, Now everyone is just trying to hold on.....

[Moisture Missile]

Thats where live with in your means comes into play. I promise you are having way more fun with the four winns looking like a hobo than the guy with the $200k eliminator thats dodging the repo man and cant afford fuel to take it out. so be happy with what you got at least your on the water with a cold beer.

[DJ SpunN]

Moisture Missile said:

Thats where live with in your means comes into play. I promise you are having way more fun with the four winns looking like a hobo than the guy with the $200k eliminator thats dodging the repo man and cant afford fuel to take it out. so be happy with what you got at least your on the water with a cold beer.

very well said mr missile

[Mike O]

<<<<<<Ebay, did not meet the reserve!

[TheRiver]

Moisture Missile said:

Thats where live with in your means comes into play. I promise you are having way more fun with the four winns looking like a hobo than the guy with the $200k eliminator thats dodging the repo man and cant afford fuel to take it out. so be happy with what you got at least your on the water with a cold beer.

That is the truth, its about the people and memories you have on the River more than the boat you drive. But I wouln't mind having good fun on a new Conquest Deckboat

[prop check]

I took out a conventional loan for my boat and then paid it off asap so the end cost was not 100k from interest. But I am stupid and believe I should only have the minimal amount of consumer debt on the books as possible. Oh yeah I also did not get the super bithen bling boat. (not that i wouldn't if I could).

[AVJ]

My extended family out in LHC own 1 boat and they borrow it when they wanna go out. Cost shared between the 4 uncles in the family. Hoping I get to use it some day!

[speedtruck17]

A boat dealer out in so cal in burbank called the boat hunters is over whelmed with repo boats. i bought my boat there and got a smokin deal on it, it was a repo and actually got my agreed value with insurance for more then i bought it for. He has some awesome boats for almost half what they are worth and trust me i will be buying another one through them. This is not a pitch for them, i dont work for them or nothing, i just know from first hand that he has got some hot deals if you want to buy a nice boat and end up with equity in it.