Do you own your boat outright or still owe?

[JerryT]

Have owner her outright for 18 years ... might owner her another 10 with boat prices

[vaw121]

Cash. Sold my xpress bought and old skeeter with some of my profit sharing to make up the difference. It's just a 98 zx185c with a 150 Vmax. Great shape and it'll do fine till I do it again in a few years. I would never say what another man should do with his money and as long as those that can finance continue to do so I won't run out of boats to roll into. I'm a simple man with a simple life.

[RangerRic]

Bought a '94 in '95 - owned 'er ever since.

[Fidgetcranker]

own 2

[The Bass Junkie]

Although this has nothing to do with the bass boat world, many people with any sort of 'cabin style' boats will borrow and finance their boat loan. The reason being is that any boat (or RV) with a head and galley can qualify for interest deductions because the boat can be written off as a second home. So with that in mind, you borrow at 4.5%, write off the interest, and keep your money in the market and get.....maybe 7.5%?
With that thought process, it doesn't make sense to tie up so much money in to a depreciating asset. Most lenders will require 20% down but depending on the age and brand of the boat, will stretch the terms out 10 years or beyond.
.

We borrowed when we bought our "new to us" cabin cruiser last year. I put 25% down, and I use it as a "second home" and I do stay there when i work in austin. Funny thing is our "minimum payment" is less than it costs us to dock it. Our last boat was paid for, we sold it and paid off some student debt etc. I hope to have this one paid off within 2 years, even though the note was for much longer. Large boat financing is great when you can use it to your advantage.

[Acuna]

Own

[derek81]

2013 Skeeter ZX190 175 Yamaha own. Bought one I could afford to pay for up front. I would have loved a FX20 but couldn't afford one and didn't want a payment.

[MR 188 Elite]

Own it

[Milehibird]

Bought mine cash. Of course it's 16 years old...I took a loan for a month so I could get it before it sold to someone else. Was just waiting on tax refund and some stocks to be sold.

[PowerFish]

1995 Charger, owned outright, it's not super fancy or a 21 footer, but it's paid for and gets me and my boys fishing...

[rjvana]

Own bought new 1996 Skeeter ZX Mercury 200 EFI PD Cash. Couldn't do it today though.

[m.t.hands]

own both, a fat bottom and a 186 triton, it ain't much but it's all I got (line stolen from B-Rad G., "Malibu's Most Wanted")

[liljakec]

April 1st, I'll own my boat. I took out a 5 year 5k personal loan last year on March 30th to help pay for my 1996 Basscat Pantera Classic. I put 3k out of pocket into it and parted out my old aluminum 16ft V-hull that I customized for bass fishing for a total profit of 2k. If it weren't for an early payoff penalty before 1 year then I would've payed it off a month ago. Pretty happy to be 23 and have a good truck and boat soon to be paid for and my career starting out next week. Going to be nice being debt free for a few months before my college loans kick in

[larryhyco]

own my bass and pontoon boat

[smalljawguy]

1995 Charger, owned outright, it's not super fancy or a 21 footer, but it's paid for and gets me and my boys fishing...

And thats all that really matters.

[mikeva]

own traded magic beans to a guy.

[Top Water Huff]

Own

[havacman]

Own

[Brent Jordan]

Own

[Obsessed]

Not throwing stones but you should listen to Dave Ramsey. Your math won't hold up.

I went thru his call many moons ago. That is how I got where I am, very smart guy, and why I am financing an investment rather than buying a toy. I know it won't make sense to some, but study on it. Reckon I aint following his rules to the tee, but.....I don't want to get too overburdened with too much cash laying around and end up not putting my cash to work and buying something that will only depreciate. Which is what anyone paying cash for a depreciating item that can draw more interest on investments is doing.........did I just say that

of course this is just my opinion and not meant to offend anyone