Who wants to be sick?? True cost of boat ownership

I was wondering how much owning a boat and actually using it really costs.

Just for the heck of it, I took a few minutes to do a quick spreadsheet on what the yearly and hourly cost is to own a boat and take it out.

The gas cost is really nothing.

Even if you paid cash for your boat, you still have to figure what the payment would be...its still money.

Anyway, I wont even post what mine was, but if you want the spreadsheet email me and I will forward it. Its quick and dirty, no formatting, but could be good for a quick laugh.

If anyone knows how to post it someplace where it could be downloaded that's cool too.

robertt@parkway-inc.com

Wonder who has the highest and the lowest???

By the way, it get MUCH cheaper to use per hour, the more hours you use it...so the best solution is to use the boat as much as possible for economic reasons

You can attach it to your post. Just click "Upload Attachment..."

Ok, I will give it a shot...

Boat true cost spreadsheet Boat true cost spreadsheet.xls (16.4 k)

WOW! $987/month???

Well, 50k at 7% interest for 60 months = that.

To be honest, I don't have a payment, but you still have to factor what the cost of money is if you did.

Anyway, it is an eye opener, is it not.

I don't ask people to pay for gas, but it makes the ten or twenty bucks per day seem inconsequential.

My actual cost via your spreadsheet is 44$ hour

35 an hour for beer!?!?? That makes the rest of it more tolerable! How many people do 60 month loans on boats?

(Message edited by marknjenn on July 11, 2005)

How many people do 60 month loans on boats?

I don't know, I kind of figured that since they are high priced, that many go 60 months. A 36 month loan at 50 k would be brutal for most.

But, I really don't know.

The beer is the biggest bargain in the mix

We looked at financing ours and most boat loans were either 10 or 15 years which drops the payment dramatically. Unfortunetly you end up paying about double for your boat vs. cash. So we went with the cash option.

you pay $150 for an oil change? wtf?

I thought people were doing 15 years loans?

Guys, relax, every item on there was a quick guess, I just bought the boat, those were simply plug in numbers to check the calculations and nothing more.

Come on guys, take it for what it was made for.

15 years, good lord that would hurt. Talk about being upside down for a while. Anyway, to each their own, the intent here was simply to share my shock when trying to figure what owning a boat really costs.

When I put in my actual costs (not figuring anything for a payment), I am at about $50.00 per hour.

Couple that with the fact that our typical afternoon is one solid hour of riding, then enjoying another 3 hours sitting/drinking/talking in a cove...it becomes even better.

I have put 40 hours on my boat since I bought it (about 5 weeks), so who knows how many hours we will put on it in a year, but I would guess over 200.

I changed the numbers for my specs, and it came out to $19.95 per hour

Boat_true_cost_spreadsheetdavid.xls (16.4 k)

quinn - i know i was quoted a bit more than that for an oil change. not sure what was included in that but when i called up and asked how much it was and was told that number, i said nevermind and did it myself.

I have an 04 X2 that just ticked past 350hrs. We run a ridiculous amount of weight, and it's usually just 3 or 4 of us taking a two medium length sessions. We consistently burn 25-30 gallons of 89 octane at $2.70 per gallon, plus the fact that my truck only gets 8mpg while towing on the 42 mile round trip to/from our riding area.

Without using a calculator, you can see that the fuel turns into a pretty significant cost by the end of the season, even with everybody chipping in $10 bucks.

I have yet to actually record the fuel consumed vs. hours logged, probably because I'm scared find out!

Had to add the launch fee $$ 250.00 per year.

I think yours David is very low man, but hey if thats how your roll, thats awseome, not bad at all.