OK help me figure this out?

[k0wtz]

I think in our new age this applies to all major new stuff but maybe I am wrong.

I was strolling by the boats at BassPro I spotted a super nice brand new bass boat price 50k and the payment was only 399.00 a month. I see sales tax of $3500.00 to be added to this note also!

I didn't go in and ask I would like one but hard to camp and boat at the same time and I would croak paying 50k for any luxury item.

My thinking it must have a balloon somewhere in there or they have gap insurance or is the loan for 40 years or maybe there is a huge down payment required.

I find it interesting thinking today?

bob

[Rick In Mn]

down payment and 240 mo. loan (20 yrs)

[k0wtz]

must be financed by one of those tricky outfits you know the boat will never support a loan like that so off it goes to the gap financing guy no doubt at extremely high interest for a good part of it.

my neighbor plays these games and he is always broke paycheck to paycheck!!


good for them if they want to live that way I suppose!!


bob

[thrifty bill]

+10 Very likely 20 year loan. Now why someone would be willing to pay on a boat or RV for twenty freakin years is beyond me. Long after the joy of buying wears off, you will be paying every month over and over again.

Figure $4800 per year in payments for 20 years, by the end, that boat or RV just cost you $100,000........

[Cliff Hotchkiss]

Originally Posted by thrifty bill

+10 Very likely 20 year loan. Now why someone would be willing to pay on a boat or RV for twenty freakin years is beyond me. Long after the joy of buying wears off, you will be paying every month over and over again.

Figure $4800 per year in payments for 20 years, by the end, that boat or RV just cost you $100,000........

And be worth almost nothing 😱

[Kai in Seattle]

These days, we wouldn't even buy a house on time.

If we can't afford it, we don't buy it. It took 64 years to get into a position where we could live "cash n carry," but it was worth it!

BEST
Kai


PS: there are a lot of things we won't buy even if we CAN afford them. Peanut was pure indulgence. And, yeah, we paid cash for Peanut and for all the renovations as well. It may not be much...but it's clean, and it works, and it's all ours.

[k0wtz]

dang bill that was my math too but really a 20 year loan on a boat! i did some dumb things while figuring out things but not that one!


bob

[k0wtz]

the last boat i bought i paid 2600 for it has a 150hp motor on it it will get me to that bass hole at 60mph crazy speed not for me!

i am assuming this boat is now in the high 40s its pretty and its speedy but 20year paying on it.

i don't think so but i have bought new for a long time but never a boat or a camper!

bob

[dmad1]

My wife and I were in Cabelas yesterday and they had a Bass Boat on the showroom floor that is to be given away. The price tag was $100,000!

[k0wtz]

dang and double dang!!


did you buy it?


bob

[dmad1]

I was afraid to even touch it! Wish I had asked about the financing. If I go back by there, I will ask.

[sharon_b]

I’m with you Kai. It ain’t perfect but it’s all mine!

[k0wtz]

dick that boat must have had plenty of bling for 100k. i know a guy he inherited millions i was talking to him one time funny what we consider over the moon is normal for some people.


anyway we live near a big lake resort area he has at his little cabin 2 of those boats with 2 motors in it the boats will hit 100mph stupid fast! i think they are going to outlaw them i suppose he has moved to the 500k cabin cruiser by now.


life is good for some


bob

[dmad1]

His boat house is probably next to his heli-port... We used to fish on a lake with a house with a heli-port. Like you said, "Life is Good"!

[Trill136]

Would kind of put my 50 year old 'tinnie' and third hand outboard to shame!
OTOH, mine work and I am happy with them.

[k0wtz]

for the most of us it takes so little to be happy and in my folks day if dad had a few 22 rifle shells he was a happy man! he lived for mushroom season all free of course!

as a former tenter now a 13f scamper life is sooo good!

bob

[Iowa Dave]

Originally Posted by k0wtz

for the most of us it takes so little to be happy and in my folks day if dad had a few 22 rifle shells he was a happy man! he lived for mushroom season all free of course!

as a former tenter now a 13f scamper life is sooo good!

bob

I had to smile with your “ my dad understood the simple pleasures”’comment. My dad got two weeks vacation where he worked. He took one for the morel season and one for fall mushrooms. He owned one shotgun and one fishing pole. I asked about the payment duration on a boat at Cabelas because I couldn’t get my head around 20 years of payments. The world has gone credit crazy. I don’t get it. And am proud to be old school. I have a 1954 aluminum boat and a 1964 Johnson outboard.
Iowa Dave

[k0wtz]

dave we are in an era of one-upmanship don't think so read and follow comments on about any site and you will see it.

when in quartzite out in the desert I could see it no visiting no one outside of their rigs sadly.

the more luxuries we can pile up seems to change attitudes and behaviours of people.

for me I am staying with my paid for 13 and enjoying life at 76 does it suit my children? well frankly no!

tough

bob

[Iowa Dave]

Originally Posted by k0wtz

dave we are in an era of one-upmanship don't think so read and follow comments on about any site and you will see it.

when in quartzite out in the desert I could see it no visiting no one outside of their rigs sadly.

the more luxuries we can pile up seems to change attitudes and behaviours of people.

for me I am staying with my paid for 13 and enjoying life at 76 does it suit my children? well frankly no!

tough

bob

I get a special joy from using old tools, old knives old sporting goods etc. I interpret my successes when they occur, as another chapter in a long history of the item involved. When we hunt morels we are cut them off at the base people while others pull them. My dad had a Queen City jack knife that he took with him to Europe in 1943. Later we used it to cut his mushroom finds and he let me use it as an 8 year old. Once I inherited the knife I let my son use it.
and now I am ready to take my grandsons out, especially the 10 year old, so he can write his chapter. To catch a fish along a creek, build a stick fire, clean the fish and roast him over that fire on a willow basket stick is always a memorable event for me and my son. My Boy Scouts learned patience but were pretty hungry by the time we did all that. But one Scout went home and announced that his roasted carp tasted better than the fish they brought back from Minnesota. When his dad told me that, I said simply “ my work here is done”.
Iowa Dave

[k0wtz]

dave I love your story most all my children are big shots the other one tries to act like one.

how all this happened I don't know I did my best to teach them to be frugal all their tastes run to the Oliver with all the bells and whistles I am happy with our 13f scamper! I stay at the cheapest motels if need be they seek out the high dollar joints so go figure. the expensive hotel just as dirty as the cheap ones!

Who they marry seems to change things I hope you cherish your times with the children and grandkids sounds fantastic.

bob