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Old     (brycejb328)      Join Date: Aug 2009       12-15-2013, 10:27 AM Reply   
I was browsing OIB as I generally do just for fun. When I saw a certain brand of boat (i wont mention the brand so this doesn't turn into a flaming brand thread) north of the 100k mark, that you generally dont see prices like this from that manufacturer. That got me thinking $100k seems to be pretty "normal" for a brand new wakeboat. My mind got turning, if you were going to spend a $100k plus on something, would it be a car or a wake boat?

Generally speaking, you get a lot more usage out of a car. But dang, why are we so quick to drop the big money on something that we don't even use every day like you would a car.

My truck cost about 37% of what my boat did. Kinda has me thinking I should have upgraded my truck instead of my boat!
Old     (Dmac420sj)      Join Date: Mar 2012       12-15-2013, 10:37 AM Reply   
I personally would not ever spend that much on a boat or a car. I spent roughly 25 k on my boat and it exceeds any of my limitations of my skill level and gets me out in the water just as well as any other boat. Boating is not a pissing contest in who spent the most it's a lifestyle that leads to awesome times and memories with friends. Hey but if your a big baller **** it buy the biggest baddest boat ever. Just make sure to not be the power turner or the guy who ties his boat in the launch side of the dock. I feel the same with cars I'd rather have multiple cars (which I do ) then have one real expensive one. Plus it makes your cars last longer
Old     (Pad1Tai)      Join Date: Jan 2013       12-15-2013, 11:26 AM Reply   
My boat is 300% more than my cars..
Old     (downfortheride)      Join Date: Jun 2005       12-15-2013, 11:49 AM Reply   
This is a good question! If the flow was there I would go all out for sure. Being average with income I went more for a boat since I planned something that will take me to the grave or till the body gives and I get a toon. $50 k is a LOT that I was looking at but $100 k is out of this world...
Old     (snork)      Join Date: Jun 2007       12-15-2013, 12:13 PM Reply   
what ever make you happy, to me its the boat
Old     (kstateskier)      Join Date: May 2002       12-15-2013, 1:26 PM Reply   
The only way the majority of people justify $100k plus for a boat is that it can be financed past 72 months. If banks would not allow 10-15 year loans on a boat like it was a house, it would eliminate 60-70% of the wakeboard buyers in the range from a financial standpoint. Now if this happened, maybe these prices would be reigned back in as well.

Say you put 25% down on each and finance the car at 5 years, the boat at 15 at a hypothetical 5%. It is much easier for the average family to afford a $593 boat payment over 15 years than a $1400 car payment a month. Justification of each may be much harder to come by.
Old     (boardman74)      Join Date: Jul 2012       12-15-2013, 4:25 PM Reply   
You can get long term financing on High dollar vehicles just like boats. So there isn't going to be a difference in payment…just personal preference. Heck they go 84+ months on run of the mill GM, Chrysler, and Ford vehicle now. Only way average income people can buy Suburbans, Tahoes, Expeditions, and the like when they are 60K+.

Last edited by boardman74; 12-15-2013 at 4:28 PM.
Old     (ttrigo)      Join Date: Dec 2004       12-15-2013, 8:10 PM Reply   
Who in their right mind would pay $600 a month over 15 years for a boat!? That's retarded. I know people say its mot the money,mits the memories, family time, blah blah. You can get all of that same stuff out of a boat that you can pay cash for, or pay off in less than a year. If you cant afford to pay off a boat in a year or two, you have no business buying one.
To answer the original posters question though. Neither. I'd buy a condo, town home, etc over a boat or car for that price. If money's not a object, you get whatever you want anyways.
Old     (polarbill)      Join Date: Jun 2003       12-15-2013, 8:29 PM Reply   
If I had to spend 100k on a boat or vehicle I would buy both. a 50K F250 and a 50k boat. Or maybe a 40k F150 and a 60k Boat.
Old     (grant_west)      Join Date: Jun 2005       12-15-2013, 9:15 PM Reply   
I'm not trying to brag but here in the Bay Aera 100k cars are a dime a dozen or at least that's what it seems like to me. On my way into work I must see 10
Or so 100k teslas And Benz's And people don't seem to think twice about them or buying one. But if you were to say I'm buying a 100k wake boat most people's head would spin. How much do you think a loaded Range Rover or Turbo Porsche SUV cost's. Hell a Common everyday Esclade is close to 90k and will set you back $600 in just gas a month. IMO people are way more
Comfortable paying 100+k for a car then a 100k boat. I guess people think It's hard to impress your neighbors with a 100k boat when they don't even know what wake boarding is.
Old     (kstateskier)      Join Date: May 2002       12-15-2013, 10:48 PM Reply   
84 months on a Suburban? Maybe you should go used….
Old     (Paxdad)      Join Date: Jun 2013       12-16-2013, 5:05 AM Reply   
Car gets me from one stressful place to the next (work and home). The boat on the other hand is almost a magic elixir!!! It takes me away from those stressful places. So I would spend my $100k on a boat but, it would of course be a Nautique!!
Old     (racer808)      Join Date: Jan 2013       12-16-2013, 6:11 AM Reply   
I like the guy who spends 140k on a new 24' Malibu, used it once. Must be nice.
Old     (boardman74)      Join Date: Jul 2012       12-16-2013, 7:21 AM Reply   
@Nick...
I certainly did not take a 84 month loan on a Suburban, not do I even own one. Was simply stating the fact that there is plenty of long term financing on cars, just like boats. Even the plain old american made over priced large SUV's. I had been at the dealership a few weeks ago and they had signs up stating they were offering 84 month + financing on select vehicles.

For the record I have a 2010 Siverado 4x4 Crew…..thats paid for!!
Old     (501s)      Join Date: Feb 2010       12-16-2013, 7:57 AM Reply   
Car gets you to work, a boat gets you away from work. I think anyone who can actually afford a $100k item that isn't financed to the max is probably pretty good with their money. For me it was not even a debate between a new boat or a new sports car/SUV. The boat will be used by my whole family and friends for years to come. A car gets you from point A to point b (often home to work) and if you get caught driving that 500HP car on the road like it deserves, you could lose your license. Can't lose your license for loading up 4k of ballast and riding or pulling some kids on a tube watching them laugh and scream and have the time of their lives.
Old     (migs)      Join Date: Aug 2006       12-16-2013, 9:26 AM Reply   
Get you priorities straight MAN!
BOAT!


lol
Old     (srock)      Join Date: Mar 2002       12-16-2013, 9:34 AM Reply   
Never track the cost and time taken on your favorite activity
Old     (JustinMD)      Join Date: Jan 2012       12-16-2013, 9:52 AM Reply   
People look at it as a payment. That's all. "Oh, I can have that boat for $1000 a month? SOLD!" And out rolls another $120,000 boat.

Me, I make good money. I put it into an account and live very modestly. I buy used and I'm happy with what I have. My 2004 LSV and my 2006 Megacab cost $65,000 combined and I paid cash for both. But that's me. I don't live in debt. I don't pay interest/payments (except morgage). I take that back, my wife's car is $500 a month/0%APR but I will borrow free money all day long and I need a payment to keep my credit up.

Like said above, if the banks take away the 120-180 term loans the boat people will cry a river. Same with the RV people.

But most wake people think I'm a little crazy anyway. I mean who would seriously spend $6000 on a hydrofoil? The same guy that would never spend $100k on a boat.
Old     (bstroop)      Join Date: Apr 2005       12-16-2013, 10:16 AM Reply   
Because with your 6K high end foil you don't need to spend 100k on a wave maker to get huge air...........that's not crazy. It money saved LOL.


I used to question how a foil could cost that much.......until I rode one. I'd give up skiing if I had to go back to an entry level ski now.

Last edited by bstroop; 12-16-2013 at 10:20 AM.
Old     (Greeko)      Join Date: May 2013       12-16-2013, 10:18 AM Reply   
Its all about greed. You want it all, Eyes are bigger than the wallet ... Without thinking about the consequences most of the time... That's why the housing crash of 07/08/09 happened...
Old     (DenverRider)      Join Date: Feb 2013       12-16-2013, 11:50 AM Reply   
If I split that in half and spent 50K on the car and 50K on the boat, I'd have a better car and a better boat than what I have now. I like the boat and the car I have now so there's no need. If you buy used, you get a lot more for your money. A lot of those 100K cars that you see on your way to work can be had used for 35. Exotics don't change much from year to year and people don't rack up the miles on them. You can get a 10 year old exotic and it might look just like new one. Look hard and you can find it with less than 10K miles and cost less than a quarter of new. You'll lose some horsepower as that's where most of the technology is but unless you're taking it to the track, you aren't using that horsepower anyway. That is unless you want to end up like Paul Walker.
Old     (Cabledog)      Join Date: Dec 2013       12-16-2013, 3:08 PM Reply   
GREED IS GOOD. - Gordon Gekko.

100K car - BMW M5, AUDI RS5, or Pro Touring 69 Mach 1 Mustang
100K boat - G23
Old     (Cabledog)      Join Date: Dec 2013       12-16-2013, 3:21 PM Reply   
Cant affort either but its fun to dream right. As far as the finance vs" cash I am of the opinion that I would rather have my cash available to me and finance. Rates are so low that I can finance, invest some cash and make better returns then the interest costs. And liquidate with less hassle than selling my truck and boat if I had payed cash. My dad always told me the #1 rule of money was not to use your own.
Old     (tyler97217)      Join Date: Aug 2004       12-16-2013, 3:28 PM Reply   
DarrinP -"My dad always told me the #1 rule of money was not to use your own."

Maybe our dads should fight...... My dad always told me the opposite... He is a banker though. Ha ha
I do agree if it is at 0% or ridiculous rate.

I agree that paying cash for your toys is smart, but the reality is most people don't have it. I say just be smart. Put enough down to be able to liquidate it and get out of it if ***** hits the fan. If you can't do that you should not be buying it.
Old     (Cabledog)      Join Date: Dec 2013       12-16-2013, 3:57 PM Reply   
Diggs - I put about 50% down on the truck and 20% on the boat through equity in my trades. 0% interest on the truck 3% on the boat. Although I could have paid cash that's part of my retirement and doesnt make sense to blow it on toys or items that dont appreciate. A lake house - - now thats an investment....

My dad's 76 now so he's probably not up for a fight unless you tried to take his cocktail. He & mom retired to a golf course in Vegas in their early 60's. They seem to be doing pretty good. Mom's a banker though and she always told me to save my money!!. ha, ha....
Old     (tyler97217)      Join Date: Aug 2004       12-16-2013, 6:24 PM Reply   
My dad is the same age... Could be a good fight!

Yeah sounds like you got it figured out financially. I agree with how you did what you did.... Just like I would. DISCLAIMER: I am not a financial planner. Just try to be smart with my money, except for when it comes to buying drinks at the bar....
Old     (501s)      Join Date: Feb 2010       12-16-2013, 7:19 PM Reply   
I try to take all my financial advice from people who actually have money, they must be doing something right. You very rarely see a rich guy or fairly successful guy financing toys or even vehicles unless they can write them off. That's how I do things. Pay cash or wait till you can. Financing a high end sports car seems like a VERY bad decision, especially considering how much they depreciate.
Old     (Fixable)      Join Date: Oct 2012       12-17-2013, 8:17 AM Reply   
Quote:
Originally Posted by 501s View Post
I try to take all my financial advice from people who actually have money, they must be doing something right. You very rarely see a rich guy or fairly successful guy financing toys or even vehicles unless they can write them off. That's how I do things. Pay cash or wait till you can. Financing a high end sports car seems like a VERY bad decision, especially considering how much they depreciate.
In most cases, yes. I have owned 3 high dollar sports cars, that I only purchased after a ton of research, and past history for the model of car. Unlike boats, if you buy the right car, at the right time, you can own a very nice car, for 0$..... And sometimes even make money, if it is the right car. The examples below, are what I have owned, and what it cost me to own them. (Before insurance, yearly registration, and a small amount of tax, that was not refundable)

1996 Porsche 911 Turbo- Purchased used in 2000. Owned it for 5 years, and 20k miles. Sold it for $2k less than what I paid for it.

2007 Porsche 911 GT3RS. Purchased used in 2009 (1200 miles) for $94,000. Sold in 2012 (9600 miles) for $96,500. Even today, a perfect condition example is worth $95+. Depending on options.

2014 Range Rover Sport Autobiography- Purchased new for MSRP ($98,340), Sold 4 months later (last week) for $128,000. The export market, and super high demand, has skyrocketed the used value of these things.

My second Range Rover is being delivered today. I used the 30k profit to justify buying another one, and using it for a year or two. I love this fully redesigned RRS. It was very hard to find a dealer to sell me another Autobiography at MSRP, but, after calling about 60 LR dealers, I finally found one that had a cancelation. The order time is over 8 months on these right now!!l


I knew the export market would skyrocket the value on the RRS, it happened with the last redesign years ago. I banked on it, and made out well! That being said, it is always a risk. The biggest risk, is falling in love with the vehicle for too long. If I hold this second RRS for two years, I will certainly lose a big chunk of $$$. However, I wont lose more than what I made on the first one. I will drive a 100k vehicle for two years, for free. Even after I account for taxes and insurance.


When it comes to high dollar sports cars, if you do your research, you can win most of the time. The car that will always hold its value well, is a limited edition 911 (GT3, GT2, Turbo S, Speedster) Very few will appreciate, but none of them depreciate more than a couple percent per year, especially the GT cars. And often times, you will see them shoot back up, ten years later. ie the 993 turbo s. That car is worth 2x what it cost new, and has been for several years.

I wish I had bought a Ford GT back in the day...... It would have been an excellent investment, even if I put 5k a year on it. And there are many others....
Old     (Paxdad)      Join Date: Jun 2013       12-17-2013, 8:37 AM Reply   
Quote:
Originally Posted by Fixable View Post
In most cases, yes. I have owned 3 high dollar sports cars, that I only purchased after a ton of research, and past history for the model of car. Unlike boats, if you buy the right car, at the right time, you can own a very nice car, for 0$..... And sometimes even make money, if it is the right car. The examples below, are what I have owned, and what it cost me to own them. (Before insurance, yearly registration, and a small amount of tax, that was not refundable)

1996 Porsche 911 Turbo- Purchased used in 2000. Owned it for 5 years, and 20k miles. Sold it for $2k less than what I paid for it.

2007 Porsche 911 GT3RS. Purchased used in 2009 (1200 miles) for $94,000. Sold in 2012 (9600 miles) for $96,500. Even today, a perfect condition example is worth $95+. Depending on options.

2014 Range Rover Sport Autobiography- Purchased new for MSRP ($98,340), Sold 4 months later (last week) for $128,000. The export market, and super high demand, has skyrocketed the used value of these things.

My second Range Rover is being delivered today. I used the 30k profit to justify buying another one, and using it for a year or two. I love this fully redesigned RRS. It was very hard to find a dealer to sell me another Autobiography at MSRP, but, after calling about 60 LR dealers, I finally found one that had a cancelation. The order time is over 8 months on these right now!!l


I knew the export market would skyrocket the value on the RRS, it happened with the last redesign years ago. I banked on it, and made out well! That being said, it is always a risk. The biggest risk, is falling in love with the vehicle for too long. If I hold this second RRS for two years, I will certainly lose a big chunk of $$$. However, I wont lose more than what I made on the first one. I will drive a 100k vehicle for two years, for free. Even after I account for taxes and insurance.


When it comes to high dollar sports cars, if you do your research, you can win most of the time. The car that will always hold its value well, is a limited edition 911 (GT3, GT2, Turbo S, Speedster) Very few will appreciate, but none of them depreciate more than a couple percent per year, especially the GT cars. And often times, you will see them shoot back up, ten years later. ie the 993 turbo s. That car is worth 2x what it cost new, and has been for several years.

I wish I had bought a Ford GT back in the day...... It would have been an excellent investment, even if I put 5k a year on it. And there are many others....
Eric,
You have me thinking since I will have a 2014 G25 in a mere 2 days do you know if the Range Rover Autobiography you mention will pull a G25 on a triple axel trailer?? I would hate to pass on a good deal like this as I just called the Range Rover dealer near me in Roswell, GA and the sales guys said he could hook me up, it would pull a house, and to top that off get me financed quickly while my current employment hangs in the balance. They will take my 13 Panamera in trade which is of no use to me since I am going all out on the G!! I am a little upside down on the Porsche but I don't mind as the exterior color just never popped with me, and the tires are really worn (surprisingly fast) with my 16 year old son driving it to and from school. My son also mentioned that it "does not perform well as a track car" which I would have no idea what he is talking about.
Old     (Fixable)      Join Date: Oct 2012       12-17-2013, 9:06 AM Reply   
Quote:
Originally Posted by Paxdad View Post
Eric,
You have me thinking since I will have a 2014 G25 in a mere 2 days do you know if the Range Rover Autobiography you mention will pull a G25 on a triple axel trailer?? I would hate to pass on a good deal like this as I just called the Range Rover dealer near me in Roswell, GA and the sales guys said he could hook me up, it would pull a house, and to top that off get me financed quickly while my current employment hangs in the balance. They will take my 13 Panamera in trade which is of no use to me since I am going all out on the G!! I am a little upside down on the Porsche but I don't mind as the exterior color just never popped with me, and the tires are really worn (surprisingly fast) with my 16 year old son driving it to and from school. My son also mentioned that it "does not perform well as a track car" which I would have no idea what he is talking about.
Why not just have the 16yo pull it with the failamera??
Old     (Paxdad)      Join Date: Jun 2013       12-17-2013, 11:37 AM Reply   
Quote:
Originally Posted by Fixable View Post
Why not just have the 16yo pull it with the failamera??
That might be a little irresponsible on my part since I like to make good sound financial decisions and that would go against the lease buy back agreement. I am just going to call Henessey Range Rover and tell them I will take the Autobiography and have a receiver hitch put on it. My 16 yo knows all about cars as he has had a subscription to Hemming's and the DuPont Registry since he was 5.
I texted him about the Range Rover and he said that he would be fine driving the Rover to school but not sure how his friends with new Jeeps would feel about it. It should be fine right????
Old     (scottb7)      Join Date: Oct 2012       12-16-2013, 7:53 PM Reply   
"Its all about greed. You want it all, Eyes are bigger than the wallet ... Without thinking about the consequences most of the time... That's why the housing crash of 07/08/09 happened..."

True but not because of the greed of the MANY people wanting the boats and houses. It was the greed of the FEW in the big companies that made bad loans, and repackaged and sold them.

Last edited by scottb7; 12-16-2013 at 7:55 PM.
Old     (shawndoggy)      Join Date: Nov 2009       12-17-2013, 6:59 AM Reply   
Quote:
Originally Posted by scottb7 View Post
"Its all about greed. You want it all, Eyes are bigger than the wallet ... Without thinking about the consequences most of the time... That's why the housing crash of 07/08/09 happened..."

True but not because of the greed of the MANY people wanting the boats and houses. It was the greed of the FEW in the big companies that made bad loans, and repackaged and sold them.

Hahahaha yeah right, the evil banker put a gun to my neighbors' heads and forced them to refi all the property-bubble equity out of their homes.

If it weren't for the greedy morons at the bottom all of those evil big companies wouldn't have had a product to sell.
Old     (cjh1669)      Join Date: Apr 2005       12-17-2013, 8:49 AM Reply   
Quote:
Originally Posted by shawndoggy View Post
Hahahaha yeah right, the evil banker put a gun to my neighbors' heads and forced them to refi all the property-bubble equity out of their homes.

If it weren't for the greedy morons at the bottom all of those evil big companies wouldn't have had a product to sell.
True in some cases, but agents did sell people on short term balloon mortgages without fully explaining how they work. Those mortgages were sold to people as cheaper alternatives, when in truth they weren't built to be used in that manner. That's just one aspect and really more symptom of the real issue going on behind the scenes that caused the real collapse, which was the unbacked securties sold to the investors. When the bad loans started to fail and the banks were on the line for the insurance things really got messy. Yes individuals are at fault to some degree, but predatory lending and illegal bank practices on the back end had a far larger part in the collapse.

Last edited by cjh1669; 12-17-2013 at 8:51 AM.
Old     (fman)      Join Date: Nov 2008       12-17-2013, 12:45 PM Reply   
Quote:
Originally Posted by scottb7 View Post
"Its all about greed. You want it all, Eyes are bigger than the wallet ... Without thinking about the consequences most of the time... That's why the housing crash of 07/08/09 happened..."

True but not because of the greed of the MANY people wanting the boats and houses. It was the greed of the FEW in the big companies that made bad loans, and repackaged and sold them.
You referring to all the people that were buying boats, cars, and houses they could never afford, with negative amortization loans and equity line of credits? Yea, what a joke, just turn the keys in and walk away with no long term consequences. Living within your means is not really taught to the younger generation these days. It's a shame, this reckless financial behavior is what is driving this country into the ground.

And for us that did not spend like drunken sailors, we end up paying for it. On a positive note it is nice seeing lenders creating strict lending policies so people can't buy something they can't afford.
Old     (kstateskier)      Join Date: May 2002       12-16-2013, 9:39 PM Reply   
@RB, wasn't referring to you, just people in general.
Old     (Paxdad)      Join Date: Jun 2013       12-17-2013, 6:34 AM Reply   
Is this a good deal??
2014 G25 w 550 fully loaded. $8K in stereo upgrades etc. Custom Boatmate trailer. All CG equipment plus 2 wakeboards of my choice with bindings ropes, vest, etc.
I have negotiated the price down to $165,000 and he (owner/ dealer) is offering 120 months financing at 12.25 % interest. I am already pre-approved for the loan. I am putting down 10% from a cash advance that I have taken on a low interest credit card (9.85% APR). Keep in mind the purchase price includes tax, and other associated fees. The only thing at this point that concerns me is that I am about to loose my job but not certain that my unemployment check will cover the fuel cost to run the G from now until I get another job at a new Wal-Mart that is scheduled for opening in the Summer of 2014. I know that this is a selfish concern since my oldest is a sophomore in college and he will not be able to join me daily during the week until his spring break. My son is the best as he told me not to be concerned with the fuel money as he would take out another student loan to cover those expenses plus his best friend always throws in a $20 for fuel on the weekends. It also make me happy to know that our old boat (1980 Mako Center Console) is being purchased from me by my 15 year old son who just got pre-approved for his own and first credit card! This card is also a low interest card (10.25%) and somehow with me co-signing on the application he was able to get a $15,000 credit limit. We have agreed that he will purchase the Mako for $12,500 and can start making those payments when school is out in May. The residual $2500 he says will be used for pocket cash. So how much do you think it will run for the G fuel usage compared to the Mako? Forgot to mention that it has twin 90 hp Yamahas and it hauls ass!!! I know that some of you are thinking that I probably don't have much wakeboard experience but when you plug up the self bailing drains on the Mako and fill that bitch up with water to just below the gunwales it throws an incredible wake........
Old     (tyler97217)      Join Date: Aug 2004       12-17-2013, 7:14 AM Reply   
210Sante - Sounds like a solid deal. Post pics!!!!!!
Old     (RideGull)      Join Date: Apr 2012       12-17-2013, 7:38 AM Reply   
Didn't read all the comments, but I hope someone mentioned that a boat is about a lifestyle. Something you can do with a bunch of family and friends. Most 100k cars are sports cars that you cant get more than 4 people in to.
I'd rather have a cheap truck (as long as it's reliable) and a pricey boat. But that's just me. I've lived my whole life on the lake so that's where my priorities are.
Old     (Paxdad)      Join Date: Jun 2013       12-17-2013, 11:41 AM Reply   
Eric,
I sure hope I did not make a mistake but the dealer in Roswell is getting the long wheelbase (LWB) Autobiography as he said that it would tow better. Is he pulling my leg about the towing??
Old     (Fixable)      Join Date: Oct 2012       12-17-2013, 12:05 PM Reply   
Quote:
Originally Posted by Paxdad View Post
Eric,
I sure hope I did not make a mistake but the dealer in Roswell is getting the long wheelbase (LWB) Autobiography as he said that it would tow better. Is he pulling my leg about the towing??
Well, you were funny for a minute, there.
Old     (boardman74)      Join Date: Jul 2012       12-17-2013, 11:58 AM Reply   
Dude, that is a smoking deal on the G @165K. Most people are paying north of 200K for them and getting higher interest rates. You'd be crazy not to buy. You could sell it for a profit in a minute any day of the week!! If you put it up for sale for 180K, you'd have 100 buyers in less than an hour lined up with stacks of CASH!!!
Old     (boardman74)      Join Date: Jul 2012       12-17-2013, 12:04 PM Reply   
I was quoted 227K for a G and the sales guy told me it was a good deal, so why would he lie?? There interest rate was like 23%, but they approved me in like 3 minutes. They also recommend I doubled my actual salary on the application, because they could see I was so smart I would be getting a raise soon. Those guys are really smart there!!

So if 227K was a good deal(they assured me it was), your stealing it for 165K!!!
Old     (ralph)      Join Date: Apr 2002       12-17-2013, 3:23 PM Reply   
If I could afford it I would buy a 100k boat no problem. But I would have to be mortgage free and have 100k burning a hole in my pocket.

IMO I can justify a 100k boat more than a 100k car because the enjoyment you get from a 100k car is mostly for the driver, the passengers are just getting ferried around. 100k boat is something your family and friends enjoy just as much as the owner. Riding behind and tripping around in a boat gives everybody a smile, not just the driver.
Old     (Kwclark)      Join Date: Oct 2013       01-01-2014, 6:29 PM Reply   
227k for a wakeboard boat! Holy shizpah! I need to step my game up. Is the wake really worth 200k?
Old     (WLF)      Join Date: Mar 2010       01-02-2014, 9:41 AM Reply   
I think boats are stupid expensive these days & it is sort of sad that the people who can afford them are not usually the ones that can utilize them to their full potential (like me). I rocked a 10 year old pontoon boat for years while becoming debt free and building the "walk away anytime" nest egg. Only after all that pain and suffering should you pull the trigger on such a luxury item...then when you do buy it pay cash, it will really make you think about how much you want something. Crazy thing is $225k for a wakeboard boat is probably not that many years off!
Old     (Dmac420sj)      Join Date: Mar 2012       01-02-2014, 9:47 AM Reply   
^shut up with your save and pay cash! It's stupid to waste the best years of your life saving! If you think that's a good idea I got a bunch of *****000 pictures I can forward you to put as your profile picture!
Old     (Dmac420sj)      Join Date: Mar 2012       01-02-2014, 9:47 AM Reply   
Dil doo^
Old     (WLF)      Join Date: Mar 2010       01-02-2014, 2:21 PM Reply   
^ and people actually wonder and bitch about why the gap is getting wider and wider between those with and those without....
Old     (ironj32)      Join Date: Jan 2007       01-03-2014, 5:37 AM Reply   
Boat.
Old     (simplej)      Join Date: Sep 2011       01-03-2014, 3:50 PM Reply   
Can we up the budget from 100 to 120? I'll take an 435is/s5, beater pickup, and a22 please .

S5/435is is as fast, nice, and fun you'll ever need on the street unless you wanna get looks. Beater pickup because who cares.... And a22 because I only really want a big wake and gadgets I can repair myself.
Old     (will5150)      Join Date: Oct 2002       01-04-2014, 5:01 PM Reply   
I have also owned Porsches in the past and have never lost money on them. If you buy right, they hold value. My boat however, will be worth 40-50% of what I paid if I sold today- although we keep seeing some G's going for 150-200K it helps us out here with older boats- props up the prices. Here's my latest purchase- not $ 100K, but will appreciate over the next few years.
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Old     (cwb4me)      Join Date: Apr 2010       01-05-2014, 7:38 AM Reply   
I haven't seen a Porsche made that didn't cost a fortune to maintain. Parts and labor are unreal. Now if you didn't drive it much or did all the repairs yourself you would only have to incur the outrageous parts costs.Then and only then could you actually make money on the car. Which is true of a boat if you bought it right and didn't use it but maintained it yourself.
Old     (WLF)      Join Date: Mar 2010       01-06-2014, 7:43 AM Reply   
Although I agree you can sell cars for more than you bought them for, when you factor in sales tax, insurance, and operating costs...you should consider yourself damn lucky if you come close to breaking even. I purchased a 997 Turbo S 18 months ago from a person who got in trouble financially and had to sell immediately. Because I could write the check on the spot and he was in a pinch, I got it for $30k under KBB. I'll drive it one more season as my DD and get something new and will be very happy if I sell it for $5k less than what I bought it for (plus the 18,000 miles of fun I will have put on it!). I would have taken a bigger hit on depreciation if I bought a new Camaro or Ford Mustang and drove it for two years...
Old     (jonblarc7)      Join Date: Jul 2006       01-06-2014, 7:57 AM Reply   
but if you bought a used Camaro or mustang for 30K under KBB they would be righting you a check for buying it. You can't compare a Porsche to a mustang in depreciation because there not even in the same category.
Old     (WLF)      Join Date: Mar 2010       01-06-2014, 8:42 AM Reply   
Ok good catch...what I meant to say is that if I bought a new Mustang/Camaro off the dealer lot for close 5% under sticker, two years of depreciation would cost me more than this particular deal I found on the P car. Porsche automobiles depreciate like a rock (most of the luxury car brands do as well) way worse than a Ford or Chevy, I love them, but probably will never buy new for this reason...this particular guy I bought mine from took a $70k hit on the car he owned for only 18 months...ouch! There are deals to be had if you can act quickly.
Old     (boardman74)      Join Date: Jul 2012       01-06-2014, 9:57 AM Reply   
Moral of the story is all of our toys cost us money. If you look at it from a true financial standpoint, it takes the fun out of it or you wouldn't own one at all. You have to get one heck of a deal to use something and break even. Most people who claim they do aren't factoring all costs. Usually its the guy who says he bought it for 20K and 2 years latter sold it for 20K. Never mentions repairs, maintenance, insurance, interest on the loan, or anything else. If you buy for 30K under book, then maybe.
Old     (Paxdad)      Join Date: Jun 2013       01-06-2014, 10:36 AM Reply   
I pretty much just gave each of my boys their own Porsche when they turned 16. The most recent was a Panamera which did not fair well as my son was using it as a track car without my knowledge. I was extremely disappointed with him for his actions that I sold the car and purchased a Range Rover LWB Autobiography. The gaul of him to take such a fine automobile to a closed course and not even give me a call or invite to meet him at the track to drive or even ride in the car around a high bank oval at well over 150 mph. If he even attempts to take the Autobiograpy off road without me I will honestly put him in a new Stingray which according to him is for washed up old men or a redneck. Kids these days.... not sure where I went wrong??
Old     (Dmac420sj)      Join Date: Mar 2012       01-06-2014, 11:27 AM Reply   
As long as you save for 15-20 years and pay cash then price shouldn't matter!
Old     (dp513)      Join Date: Jul 2011       01-10-2014, 8:43 AM Reply   
I'm a payment baller lmaoo. I could buy things cash but why? I'd rather have a goose egg to sit on. My truck and boat
Set up will be about 100k combined. I never keep anything more then 3 years and I try and find good enough deals to
Where I don't lose my ass. But your only young once. I'd rather live it up then be stuck saving for years wasting away my life. It's only money right?
Old     (Paxdad)      Join Date: Jun 2013       01-10-2014, 11:35 AM Reply   
Quote:
Originally Posted by dp513 View Post
I'm a payment baller lmaoo. I could buy things cash but why? I'd rather have a goose egg to sit on. My truck and boat
Set up will be about 100k combined. I never keep anything more then 3 years and I try and find good enough deals to
Where I don't lose my ass. But your only young once. I'd rather live it up then be stuck saving for years wasting away my life. It's only money right?
Danny,
You are a financial genius. You should write/ publish a book about your exploits and include various photographs that would include you sitting on a Goose egg!! I guarantee that it would sell and make the NY Times Bestseller list. You are 100% correct as the last several funerals that I have attended of some fairly wealthy acquaintances did not appear to have their casket lined with money, nor did their headstone quote their last know net cash/ asset worth.
Old     (WLF)      Join Date: Mar 2010       01-10-2014, 4:06 PM Reply   
I'm totally with you guys on the fact that you can't take it with you, we are all wired different, I've been fortunate that all my saving and investing has allowed me to have these fun toys now...granted I'm not going to land a 1080 these days like I could have 10 years ago! Anyway on the bright side of things I did get to go watch my 100k boat get built today at the factory...amazing experience, spring seems even farther away now!
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