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Old 09-01-2014, 04:57 PM   #6
jwnall
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City: St. Marks, Florida
Vessel Name: Morgan
Vessel Model: Gulfstar 36
Join Date: Sep 2012
Posts: 3,673
Quote:
Originally Posted by CPseudonym View Post
So long as you understand the purchase price is only the ante to buy a seat in the game.
Yup. That is the "gotcha!" that many people just do not seem to grasp. My own rule of thumb (having had several boats) is to put aside an equal amount as the purchase price (of course I am talking about used boats, never having been able to afford a new one). This has worked pretty well so far. So if I want to buy a $50K boat then there is also another $50K in the savings account. If it does not get used, then so much the better. But some of it always get used!
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