Cash vs Finance New Boat

[madmurph]

I asked my dealer today what percent of new boat purchasers finance vs pay cash. He told me that only 2% pay cash and the remainder finance some portion of the purchase.

[ifishinxs]

Sounds right to me!

[Southfork]

Those 2% are all BBC members

[LTZ25]

Feels good to be in the 2 percent club .

[Flying Brian]

All the cash payers on bbc carry briefcases full of cash straight to the manufacturer. So that 2% is a flawed number.

[basscla]

Cash is King

[grandbassslayer]

I doubt 98% finance

[jimsch]

I usually fill the livewells with 10's when I trade the boat in.

[Gthunter5]

Paid cash for the last boat i bought

‘79 fisher marine

[Dan21XRS]

Depends on the interest rate... Sometimes it advantageous to use other peoples money and invest yours... Dan

[tcesni]

That seems reasonable to me. Most boats are at least as expensive as a car or truck and the past 10 years borrowing money has been pretty cheap so why not? I typically use cash to buy a new car or truck but if someone offers me money at 0.9 or 1.9% interest I will take them up on it.

[Hickory Legend]

2% will retire at 60, the other when their boat is paid for!!!
Nahh they will have to also pay off the truck, car, house, CC bill etc!!!

[Walkabout7781]

I paid cash for my Nitro POS. It's a '89, '95 & '96.

[Bueller]

He’s trying to make you feel better.

[Craigjc00]

David Ramsey and any other financial expert will always encourage people to finance a rapidly depreciatiing luxury item such as a boat.

[davidsa]

I'd say almost all cars are financed as well but a car is more of a required item to get to work. Most will say it is bad to finance. I think on a boat do what makes financial sense. My dealer did not have 2% finance rate so I paid with a check.

Notice this as well. Dealers try to expose loan payments many times. I want to know my cost first.

[Bartman]

Does 0% interest count as financing?

[22RangerZ520R]

Cash is King

[Nitro_Z20]

I think most “cash” BBC members need to be reminded getting a loan through your bank or credit union and then writing a check for it and having them reimburse your account via your loan isn’t paying cash.....

[davidsa]

well of course, getting a loan from you bank to write a check is financing for sure. Just not financing with the dealer.