There is a boat post on here probably once a week or so. I recently had a lawyer colleague say to me that the biggest challenge financially for many of his clients was their immediate desire to buy a boat if they come into any money.

Thus, I was inspired to write my weekly blog on the topic. Enjoy.

Instead we should give the money to you to invest? That's sound like hours of fun times with the family instead of enjoying it on the water. Who cares if someone wants a boat? Some enjoy boating, some camping some sitting n their fat asses and doing nothing.

We've owned boats but don't have on now. Boat stands for Bust Out Another Thousand.

Oh, and page 1.

If your FIL gifts you a boat, BOAT stands for "fixes and pays for any problems the boat has".

Did you read the link?

OP is suggesting to rent instead of buy based off assumptions listed in the link.

Not to forego anything (other than certain costs of ownership)

If your actual numbers are different than his assumptions, then the answer to rent vs buy will be different.

the problem with the idea is boat rental isn't always available. When you can find a boat to rent I promise it won't be the $100K ski boat you had priced out.

if you want a real rig to run in you've got to own your own.

I want a 50k maverick 18-hpxv and I don't care about the financial factor. We save 40+% of our combined salary as it is.

I'm not sure what maintenance on a 100k ski boat is and I don't have to pay for storage but insurance, registration, maintenance, and repairs on a boat we bought in 04 has added up to around $4,500 over 10 years. I can't imagine how you could begin to approach 10k/yr.

OPs biggest account:

SeaRay or gtfo

In the OP's anecdote where does he advise the client to first use the money to establish retirement, college funds, etc then see what is left for the boat budget? Renting a boat sounds very boring and not fulfilling.

If you can fly it, float it, fu#@ it or drive it....rent it

My wife and I bought a used boat back in 2010 and used it for several years. We lived about 10 minutes from the lake so it was very easy to store in our garage during off times. After I calculated the depreciation when we sold a long with fuel estimates, insurance and repairs we came out well ahead than if we were to rent at the same lake. Granted we were on the water twice a week usually so that helped our cause greatly. I would definitely recommend renting if you're only going to take your boat out 4-5 times a summer.

Build one.

Dude, get it right, " If it flys, floats or f@@s, it's cheaper to rent it".

Tommy Earl Bruner - Baja Oklahoma

Bottom line of you buy used, have your own place to store it and use it often it will pay for itself compared to renting. But some people just have FU money and there's no sex appeal in taking your honeys to the marina, unloading all of your gear, listening to a safety brief, signing a liability waiver and then listening to a quick breakdown on how to drive a boat. And sex appeal runs a lot these days.

If you're not a professional captain and you're worried about whether or not a boat us a "smart investment" you're doing it wrong.

If you choose to rent a boat you might just not need that F 250. You can use cabs, public transportation etc. No high dollar vehicle, car insurance, high diesel bill, repair charges, tires etc. You would plan your shopping better and save money on killing a little time shopping before lunch...... and get rid of free loading friends.

In addition it would eliminate those red light camera tickets.

quote:

---

If you choose to rent a boat you might just not need that F 250. You can use cabs, public transportation etc. No high dollar vehicle, car insurance, high diesel bill, repair charges, tires etc. You would plan your shopping better and save money on killing a little time shopping before lunch...... and get rid of free loading friends.

In addition it would eliminate those red light camera tickets.

---

Awww, man, you just ruined next week's blog!

I had the boat bug once before. Everytime it returns I remember spending $1500 the first time I had to fill'er up and the urge quickly fades!

This thread blows. Bet OP is a blast at parties.

We had a house on Lake Livingston and a boat when I was growing up. I'm sure my parents are much happier with the memories we have as a family over the lost money for maintaining the boat we used almost every weekend for about 7 years.

I understand the thought process from the article. However, I think the majority of people who own boats (me included) want the boat more than they care about the costs. I knew my boat was going to cost me money, but I get too much enjoyment out of taking it out on the water to care.

For those that say "just charter trips" or "rent", you don't have Captain in your blood. I might be a crappy captain, buy by god I'm a gotdamn captain!

quote:

---

Believe me, my young friend, there is nothing absolutely nothing half so much worth doing as simply messing about in boats.

---

I bought a POS sailboat, trailer and motor for $1,000 in April. I've probably put $300 into it doing Fiberglas work, epoxy, sanding, painting and cleaning. I haven't even put it in the water yet, but it has been one of the best purchases in my life.

The whole reason i fish is to have an excuse to drive the boat places.

But I also bird hunt cuz the dog loves it. Im weird.

Juan

We're moving to near a lake in the South (live in the desert now ). I'll be damned if I don't get a boat.

quote:

---

If you can fly it, float it, fu#@ it or drive it....rent it

---

It's spot on...I've only heard it as "If it flies, floats or f***s...rent it."

quote:

---

the problem with the idea is boat rental isn't always available. When you can find a boat to rent I promise it won't be the $100K ski boat you had priced out.

---

This is a big missing piece of the OP's analysis. It's not like calling Hertz and telling them you want the Hertz Mustang 350 rent-a-racer for the weekend. I've rented boats on vacation at several lakes and your typical options are underpowered Pontoon or entry level Runabout. On the coast the only way your renting a boat is with a guide.

Here's what I did with your advice yesterday. It's going to be a long 5 weeks

Very nice choice Fido. Which one did you get?