You asked for advice. So this is what I'd do. Make yourself a $400 payment into an account for the next 2 years. You'll have $10,000 plus your current boat. Then you ask yourself, "Do I really want to spend this $10,000 on boat?" If the answer is yes shop around and pay cash for a nice used boat. If not, you still have the $10,000 and the boat.
The borrower is slave to the lender.