I'm guessing you need a massive down payment if buying a top of the line boat!!

[22RangerZ520R]

I would think that most people buying a boat from 80-100k already have a significant down payment in the form of another boat that they are trading or selling privately. I don't know too many people buying a boat in that price range without a substantial trade.

That was my case.

I traded in my 2017 F250 platinum and my 2018 Z520L for my current rig.

[rudapa]

Once upon a time my fishing was from the bank or as a back seater. I graduated to a tracker with a 25 on it. I keep my boats around 8 years. I save for the next one and have worked my way up to a '22 921 Elite. Baby steps for me!

[ksubasser24]

Bought my first bout when I was 20. It was a 1955 16' trihull with a mid 80's 85hp evinrude. Bought it for $1000. Used it to fish some but mostly fun as we had a lake next to the university. Girls liked it. Sold it a few years later for 2,800 and bought a 95 champion 181 for $6800. Ran the champ for three years and then was able to buy a new ranger in 2015 after selling the champ for 10k. Had my ranger till April of 2021, It was financed for 15 years as the payment was only $300. Well worth the monthly to get to fish out of that boat. My skeeter was 68k out the door last august but I put 40k down. Financed on a 15 year note and my payment is about $250 a month. No issues financing a boat on a long term when you can work your way to having a good down payment making the monthly cheap. Pay the minimum the months of use and pay extra when not buying fuel to use it.

My point is everyone sees the cost as something different. For me it is my entertainment budget as I don't go to the bars or spend much money on other things.

[trashmanssd]

[alanhore]

I know of fishing friends that have financed a $65,000 Nitro for 20 years! Total payoff was approximately $104,000! I joked with him that in 10 years, you would only have 10 left! His payment was around $450 a month.

Look at the store pricing at BPS or Cabelas. They give a great monthly payment, but you get a 20 year note.

[Boat4Life]

20 year financing because you have your money working for you? That's funny, I could see 3 yrs, 4 yrs, but 20!! What interest rate compounds out that makes you happy? Do the math on $80K @ 4% for 20 yrs. Not a pretty picture!

Never said 20 years!! Best to save and pay cash if you can. It is a personal choice, but I don't like debt if I can avoid it. I learned to do without toys until I could pay for what I wanted. Not hard, but does take discipline.

[MCIPinkie]

In an attempt to answer the OP's question. Probably not if you have good credit.

Not recommending a low down payment and a long term, but I'd bet you could get in that boat for under $5K down all day, every day, if you have a high credit rating.

Of course you would have to find one.

[SilverXpress]

Thankfully I have excellent credit. Having said that, I mentally couldn't handle a monthly note of $800-$900. To me, that is just too much money to pay for something I"d basically only use in the summer months. I really like these new boats but my goal would be to put down enough money so I can have a manageable monthly note.

[mossie3]

This all sounds good, but how hard is it to find an idiot to buy your 1-2 year old used boat for $75K, that you bought for $80K brand new? I'd consider staying in a brand new boat every year for $5K ($416/month). I spend that much chasing new electronics every couple of years. I might as well buy new electronics that has a new boat attached to them.

Hahahaha who pays on a boat 20 years? Better yet who would be dumb enough to do that? You're missing the picture badly.....Most that finance a new boat 20 years, keep the boat a year or two, and sell (one reason why used boats are so high, as people are asking what is on the loan).....example, buy an 80k dollar boat, sell it a year or two later for 75k. You make a 400-600$ payment during your ownership of the boat. They are making the same monthly payment for a new boat every year, that you would be making on your 19th year of a 20 year loan.....with no warranty by the way. If you ever wonder why or how people have a new boat every year or two....thats why. A brand new boat for the same monthly payment and always under warranty. The intention is to never pay the loan off, its more less a rental.

My new boat will be here in a month.....I will finance 15 years, sell in 18 months and start over. Tournament winnings will go toward principle balance on the boat. Always a payment, but always under warranty. No maintenance costs etc.

Your 15 year old boat may be paid off, but maintenance, new spark plugs here, new lower unit seals here, new trolling motor here, 2 stroke oil etc etc....are you really coming out that much ahead? Its worth a monthly payment to me to not have to worry about blowing my motor up on blast off and being out a total rebuild cost.

To each his own.

[bhjr.]

I think the marketing crowd have lost touch with reality.

The marketing crowd are the "ones" that can "afford" to pay cash.

[Highcentered]

Thankfully I have excellent credit. Having said that, I mentally couldn't handle a monthly note of $800-$900. To me, that is just too much money to pay for something I"d basically only use in the summer months. I really like these new boats but my goal would be to put down enough money so I can have a manageable monthly note.

You just have to be honest with yourself about what you want and what will be sufficient. You don't NEED a 20-21' boat with a 250hp just like no one else really does but a lot of people have one because they WANT it whether they can truly afford it or not.

IN MY OPINION if someone needs to finance a boat for 15-20 years with no plans of early payoff just to make the payments they shouldn't have bought it in the first place. I'm sure this will hit a little too close to home for at least a couple people on here and I'm OK with that.

I bought what I could afford to pay off in a reasonable amount of time and it's cheap to operate. It's not as comfortable as a bigger glass rig but had to be honest with myself on wants vs good enough for the task at hand. There's a lot of people that could buy any rig they want but choose not to because it makes zero financial sense when something less than half the price will do everything they need and keep them safe.

I'm not telling you to go out and buy a small aluminum rig if you want fiberglass. I'm saying if the 20' with a 250 is going to put in in a financial pinch and/or cause you to have buyer's remorse when making the payments then an 18' with a 150 would be a really good option in the $40000 range.

[BassinPaPaw]

Just my opinion here. If you can’t put enough money down to pay off truck or boat in 3-5 years, then you’re buying something that you really can’t afford.

[fishnfireman]

Just my opinion here. If you can’t put enough money down to pay off truck or boat in 3-5 years, then you’re buying something that you really can’t afford.

have to agree---
took many years of discipline. before I owned anything that wasn't used.
proud to say I've never owned a new boat or vehicle that I didn't have as much or more money in it at purchase than the bank did.

[mactlman]

Just my opinion here. If you can’t put enough money down to pay off truck or boat in 3-5 years, then you’re buying something that you really can’t afford.

that is how I approach all big $$ purchases paid of denali in 3 yrs harley in 3 yrs house in 15 yrs paying off the house really opens up options to buy and save more effectively also!!

[Dixie-Raven]

that is how I approach all big $$ purchases paid of denali in 3 yrs harley in 3 yrs house in 15 yrs paying off the house really opens up options to buy and save more effectively also!!

But are you saving for retirement also?

[tdh]

Nah..... open up a commercial remodeling company, bid competitively, do great work, bring job in on time and under budget, work hard - very hard, make your first mil in the 4th year ofoperation,live, frugally for a couple of years and then just write check for the boat you want...
Just watched my nephew do it and he picks his nee Caymus up next week.

[nix03]

The marketing crowd are the "ones" that can "afford" to pay cash.

That’s all the bBC guys isn’t it?

[Philly]

Or just buy a boat that is a reasonable priced model that is functional for what you want it to do.
Unless your guiding paying customers, there is not much need for 20' of fiberglass boat with a 200 hp motor.
Yeah you'll look slick blasting down the lake and people will eww and ahhh that beast at the ramp.
Feel the pain when the 1st of the month payment comes around or beat back the urge to go "max"
Make that call

If you bought a 20’ glass boat with a 200hp you are already sitting in an underpowered boat that’s gonna be tough to sell, lol.

Im just kidding and fully agree with what you are saying. It’s almost sad to hear some of the teenage kids talk who are involved in HS Bass Tournaments. A lot of them truly believe that you need a 21’ boat with a 250hp, 4 graphs, plus LiveScope, Ultrex and Power Poles before you can even think about competing in a local tournament. I had a boat listed for sale last year and a 15 year old kid called me and said that he and his father were coming by to look at it. The kid told me that he was going into his 2nd year of HS fishing and that he wanted to look at my boat because my advertisement met all of the criteria on his “list”. The boat that I was selling happened to have all the equipment that I listed above, boat I’ve owned a BUNCH of them that were not nearly as well equipped and certainly NOT when I was 15 years old. They should up and this entitled little peckerhead was no more than about 90 pounds and I asked his dad if he had ever owned or driven a high performance Bass boat and as dad began to answer “no”, peckerhead piped in and said “I’ve watched YouTube videos and it’s not that hard”….LMAO!!!

[Highcentered]

Just my opinion here. If you can’t put enough money down to pay off truck or boat in 3-5 years, then you’re buying something that you really can’t afford.

I feel more and more this way as I age. Paid my Ram off in 3.5 years on a 5 year note but only paid $19000 for it barely used. Boat took 5.5 years on a 10 year loan but had credit card debt still nagging me when I bought it (I know I know). I'm thinking about keeping the Ram long term as mainly a tow rig and next year dropping a $10000 down payment on a trucklett for a daily that could also pull the boat if it had to. I like truckletts for some reason, lol. 3-4 year loan tops.

[Kodiak16]

No guarantees for tomorrow. Buy at whatever term or whatever you think is best for you. It won't effect anyone here on BBC one way or another.