Should I Buy a Boat?

[Jack_Dawson]

Actually split the purchase of a boat - with my friend. Here's the boat...what do you think? We want to take it deep sea fishing off Mexican waters.

http://secure.adpay.com/ClicknBuy.aspx?buttontype=307A64482B7947453163497870504B307733546132773D3D&pid=6352444F6954642F4352316E50306E755041784A6B513D3D&adid=9551569

[democracyindanger]

1. I just bought it to ruin your dreams of fishing the Pacific

:evilgrin:

Seriously, though, I hope he's a real good friend, or you guys at least get it all down on paper. A big purchase like this can screw up a friendship.

[Jack_Dawson]

2. Great Friend

How would it screw it up? I'm sure there are dozens of ways, but what are the most likely?

[blueknight]

5. well, i love boats,

but you have to be careful buying one together. what if you want to sell it and he dont? what if you want to take out friends the same day he does? what if one of you lose your job and cant come up with the money if it needs major repairs? hopefully, none of these things will transpire. but as far as boats go, that seems like a good starting price, the boat looks good.

[democracyindanger]

8. Anything to do with $ and liability

Maintenance, berthing fees, registration and taxes, agreements regarding use by one of you (if one of you want to use it to take the family out), to name a few. A specific scenario might be what if one of you damage the boat, and can't afford to get it repaired in a timely manner. Will it sit in somebody's driveway until it does get fixed? Whose driveway?

Just an outsider's opinion--definitely not a judgment on the strength of your friendship. I'd just be sure to think of every contingency before you dove in. $10k is a lotta coin. I'd think of it as getting into a business partnership with a buddy, rather than a joint purchase of a (big) toy.

[jdots]

3. Yes buy several boats

you will find that they become a hole in the water that you pour money into.I love boats,just remember they cost money everytime you look at them.

[Worst Username Ever]

4. Yes. Life is short.

If you have the means, and are otherwise secure financially (i.e. you have taken care of retirement and educational expenses for your fam, if you have one) then yes. Do it.

[Jack_Dawson]

6. Do you have one? n/t

[Worst Username Ever]

10. I'm not there yet

I have law school starting in the fall and am getting married soon and have to save my $$$. I grew up in a family with boats. They are a lot of work, my dad always talked about the expense. Basically, he would recommend figuring out this equation before you do so:

How may days, exactly, do you think you will use it per year?

Now add up all expenses associated with the boat. Purchase price, gas, insurance, storage (if you plan on paying for storage in the off-season), maintenance, etc.

Take the number of days you will use the boat, and divide it by the expense to get you DAILY expense for the boat.

We finally got rid of our ski boat after my dad realized that with boat-slip rental, insurance, and storage costs, it was costing like 300 dollars per boat-outing, since it was only used about one day a week on the weekends. He did not feel it was worth it.

But I love boats, and hope to have one someday.

[rainy]

7. You only live once, buy the boat.

I love boats.
"My wound is geopraphy. It is also my anchorage, my port of call. I grew up slowly beside the tides and marshes of Colleton: my arms were tawny and strong from working long days on the shrimp boat in the blazing South Carolina heat..... I was born and raised on a Carolina sea island and I carried the sunshine of the low-country, inked in dark gold, on my back and shoulders. As a boy I was happy above the channels, navigating a small BOAT between the sandbars with their quiet nation of oysters exposed on the brown flats at the low watermark. I knew every shrimper by name, and they knew me and sounded their horns when they passed me fishing in the river."

This passage if from Pat Conroy's "Prince of Tides."
It reminds me of my childhood fishing with my dad who had a beautiful wooden boat when we were little. He has since built a boat; 34feet and very nice.

I love boats and the sea and all the stories that go with it.

[Cooley Hurd]

9. It has pretty low hours, but it's a Bayliner...

...and Bayliners suck. ElCheapo. I'd keep looking for something of better quality, like a Sea Ray.

[Jack_Dawson]

12. Is that a Trophy?

:shrug:

[Cooley Hurd]

13. "Trophy" is made by Bayliner...

My first boat was a 2 year old 21' Bayliner and, even though it was relatively new, little things kept happening to it (like the rail struts cracking, the cuddy cabin leaked like a sieve and little cracks all over the gelcoat). And this was a freshwater boat!

My next two boats, both larger Sea Rays over 15 years old, were in much better cosmetic condition than my Bayliner.

Seriously, go on BoatUS's website and look for user comments on Bayliners - you'll see what I mean...

[Jack_Dawson]

14. Great Site! Thx

:beer:

[Freebird12004]

11. looks "sweet"

I loved my time on the Ocean in "stinky boats" and "rag boats".... Do It !