Had a 2010 22 ft. Loved it and would most likely buy it again. Cant really say anything bad about it . Great for the money
Thanks you guys - and @andy, no - I live here locally (MP). We’re both from the upstate though, and have family coming down from the upstate for all the festivities this weekend. And the boat I’m looking at is on Keowee, in the upstate. Sorry for the confusion - and I appreciate the offer, but hopefully I’ll have this thing done on the first day I get some time.
I don’t want to rush this thing, and tend not to - but we’ve been waiting so long, and this is a pretty good deal, so I’m ready to jump. I stayed up waaay past my bedtime last night, reading all about these things, the Yamahas and any and all things that could possibly go wrong. I’ve compiled a checklist and will continue to add to it over the next few days. Provided all checks out okay, I’ll be on the water in a couple weeks!
You’re welcome, wiser. That’s what we’re here for.
Sounds like you’ve done your research and, considering what you’ll be using it for, I think you’ll be very happy. I also think you’ll be happier, and better-off financially, not having as big a debt. That’ll free-up a lot of money, which you can use to customize the boat to your liking, etc.
I had a Key West 15’ for 19 years before deciding to get the Sea Hunt, and was very happy with it. Just needed more room.
I also did a lot of research before buying this boat and have been very happy with it.
Good luck and keep us posted. You know pics are mandatory, right?
See ya on the water!
2006 17’ Sea Hunt Triton w/ 90 Yamaha, formerly a 1991 15’ Key West Explorer w/ 60 Johnson.
You are right…
Go ahead and finance $20k…
It will be alright…
A $20K used boat will not cost any insurance or upkeep whatsoever…
Kids…
Just want to say thanks for the level heads on this thread. I’ve slowly been working through my debt, currently have a mortgage on my house here in SC and two mortgages on a house in Ohio that my wife brought into the marriage. Slowly been paying off the 2nd in Ohio and have been bitten by the boat bug, going to the boat show did not help matters haha. I purchased a couple of yaks last year and can’t wait to have a boat but I’m sticking with the plan and y’all saying that it is the best way to do it helps keep me moving.
Spring 2016 I’ll be motoring with y’all until then … Everyday I be paddlin’
quote:
Originally posted by fishingpopoJust want to say thanks for the level heads on this thread. I’ve slowly been working through my debt, currently have a mortgage on my house here in SC and two mortgages on a house in Ohio that my wife brought into the marriage. Slowly been paying off the 2nd in Ohio and have been bitten by the boat bug, going to the boat show did not help matters haha. I purchased a couple of yaks last year and can’t wait to have a boat but I’m sticking with the plan and y’all saying that it is the best way to do it helps keep me moving.
Spring 2016 I’ll be motoring with y’all until then … Everyday I be paddlin’
Congrats on your progress.
There are a lot of good folks here who would probably take you out fishing, me included. Long as you’re not WEIRD or anything.
You’re not WEIRD, are you? Besides being a buckeye, that is…
2006 17’ Sea Hunt Triton w/ 90 Yamaha, formerly a 1991 15’ Key West Explorer w/ 60 Johnson.
I like my sea hunt. Granted, it’s really the only boat I’ve ever owned and for all intents and purposes the only boat I’ve ever operated.
I’m sure there are better 20/21ft CCs, but for the price, this one does pretty good. Can handle everything the harbor and jetties can throw at it and can somewhat comfortably get 20 miles offshore on a good(great) day but also isn’t so big that i can’t fish somewhat skinny water.
207 CC SeaHunt
Yamaha 150
I am going to go against the grain here. I am about your age, and from my experience, inflation will keep you in the black on a used boat and financing. So basically don’t be afraid to buy what you can afford financing. You only live once, and you ain’t getting any younger.
Bottom line: a boat is a luxury, and if you don’t jump in and leave logic at the dock… You never will.
That said, you won’t regret it.
I was in the same situation this fall, I’d been looking for about the last year on Craigslist, etc. Ended up finally pulling the trigger on a $5000 boat and couldn’t be happier with it. The boat and motor have been bullet proof, but I definitely did my homework before hand. The common theme in the thread is true, make sure you test drive it, check the compression, etc. Would I love to have a newer, shinier boat, sure, but like everyone else has said, make smart decisions now and you’ll thank yourself later.
17’ Hewes Stalker
I have a different way of looking at things…
The boring stuff:
First Save the max into 401k (more than 70% of the country does)… avoid high interest rotating debt like CC’s or bad auto loans. Don’t max out on your house - purchase something moderate.
The fun stuff:
Allow someone else to take the “hit” on a new vehicle.
-Trucks and cars. Purchase new/used vehicles for 50% of the original MSRP - use the banks money at little or no interest.
-My truck for example - Orig MSRP was 46k, I bought it used with 55k for $17.5. in cherry condition. Someone else paid 29k for the first 55k miles, I paid $17.5 for the next 150k. 4 year loan at 2% interest, 1.5 years ago and the truck is still worth $16k.
-Boats - same as above, but don’t fall for the high tier BS. A well maintained used Trophy/Sea Fox/Sea Pro with a Yammi will get you to the exact same fish as Grady or Pathfinder with a Yammi. Day after day… no need to buy a high end boat.
Why finance now?
A well maintained 20k boat at low interest and 20% down is going to cost you 320-340 per month. At 150k income, thats about 4% of your take home after taxes, insurance(s) and 401k. You have the boat now. Vs. Saving 300 per month for 4-5 years with no boat. If you purchase the right boat at the right price, you wont go upside down on your loan.
We only live once. Responsible borrowing isnt the end of the world or wrong. I am not waiting till after my kids are gone to go boating and fishing, I am taking my kids boating and fishing with me… I am not worrying about retiring at 55 & living like a pauper to reach that goal - live a bit now, and a bit later.
Balance is the key.
Thoughts from another old guy. We financed $18,500 on a new boat back in 2001. Our combined income was about $95K then, with 1 car payment, a mortgage and 3 kids. I had a good used 16ft skiff that I had paid 3K for cash. We figured that we were “fine” also, so we bought new boat on payments.
Fast forward 15 years. I lost my good-paying job in 2012 and have been under-employed and busting it working 2 jobs for almost 3 years. I’m 55 years old. We have had to help our oldest daughter and her 2 kids a lot financially which sucked up a lot of money too. I loved that boat and he had a lot of great family time on it and we caught a ton of fish too. Last summer I had to sell it. What happened ? Life happened. Like most people, our lives were built on a house of cards. I should have kept that little paid for boat another year or two, saved a little more, sold it and stepped up for cash. We would have had just as much fun. This week the transmission went out in my wife’s 2006 SUV. I don’t have the money to have it repaired and I won’t go in debt to buy a newer car, so we’ll have to car pool for a couple of months. If I had saved and invested that money I paid in boat payments, I could buy her a nearly new car for cash.
I don’t have a boat now and really want another one. But this old man will start again with a kayak or jon boat and work my way back up cash only. Buying that boat on payments was the biggest financial mistake I ever made and it has cost me dearly. I wish you the best.
Jack Taylor
^^ Good advice from Jack. Life happens, often for the worse, best to plan early for it getting worse. Having no debt and money in the bank gives you a lot more options and flexibility when things go to hell. Not if, but when.
quote:
I am going to go against the grain here. I am about your age, and from my experience, inflation will keep you in the black on a used boat and financing. So basically don't be afraid to buy what you can afford financing.
I thought the same thing when I was your age. Now I’m twice that age and 4 times smarter 
Capt. Larry Teuton
Cracker Built Custom Boats
“Ships are the nearest things to dreams that hands have ever made.” -Robert N. Rose
quote:
Originally posted by bigt7mmquote:
Originally posted by fishingpopoJust want to say thanks for the level heads on this thread. I’ve slowly been working through my debt, currently have a mortgage on my house here in SC and two mortgages on a house in Ohio that my wife brought into the marriage. Slowly been paying off the 2nd in Ohio and have been bitten by the boat bug, going to the boat show did not help matters haha. I purchased a couple of yaks last year and can’t wait to have a boat but I’m sticking with the plan and y’all saying that it is the best way to do it helps keep me moving.
Spring 2016 I’ll be motoring with y’all until then … Everyday I be paddlin’
Congrats on your progress.
There are a lot of good folks here who would probably take you out fishing, me included. Long as you’re not WEIRD or anything.
You’re not WEIRD, are you? Besides being a buckeye, that is…
2006 17’ Sea Hunt Triton w/ 90 Yamaha, formerly a 1991 15’ Key West Explorer w/ 60 Johnson.
Not a buckeye just married one dunno if that makes me weird …
Do whatever you want. Only you know the ins and outs of your current financial situation and ability to take on some debt.
However, I’ll echo some of what was said. Just think carefully about what financial risk you want to take on and how fast you can pay it down. 150k combined is a nice amount to be able to take on and pay down financing at a pretty quick pace assuming your other debt is manageable. You just have to crunch the numbers and make sure it’s doable.
I personally would love to get into the boat buying phase, but that’s years away. I feel like that old commercial where the guy looks into the camera and says “I’m in debt up to my eyeballs.”
Between the student loans of graduate level education and the massive amount of loans needed to start a small business recently I have enough debt to make most people reading this need to call 911 for chest pain. However, I also have the potential income in the next few years to make it all work out.
You might be in a similar position, and I guess the point is that only you can figure out what type of additional debt you feel like you can take on. The big caveat is that boat debt is luxury debt. You don’t need it and are probably better off without it, but it’s up to you in the long run.
Hey all, so just to update you all - I am officially a boat owner. Against some of your better wishes, we did finance a boat, but got a great deal on one and after putting 50% down, our payments are more than reasonable.
I’m glad to finally join the club, and can’t wait to be out on the water - in my own boat for once!
In case you guys are interested - it’s a Scout 195 Sportfish, and we got a great deal on it. I am interested in adding a couple of things (VHF and second battery/perko), so if anyone knows someone that they’d recommend to do this - or preferably, someone I could pay that would walk me through this, I’d love some recommendations. I’m pretty mechanically inclined and have worked on my cars forever, but the boating stuff is new, and I’m hesitant to start drilling holes in my new baby by myself - at least at first.
Thanks you guys, and ecstatic for the weather to warm up just a bit and get this thing on the water!
Jack you sound just like me. You can never tell what the future holds, but plan for the worst. After the down turn in the economy my wife and I went to making 1/3 of what we use too. From that point on I have decided if I want a toy or car I want finance it (Dave Ramsey). I will save my money and buy what I can afford to pay cash for. Sound like all the advise that ha been given he did not take!! Hope the best for you Wisertime.
I understand, Fishskinner - and knew some of these responses were inevitable. But trust me, we’re okay and we have enough in savings to survive should something happen. We found a great deal, didn’t buy new and picked up a loan on the remainder for less than the APR on new boats (only going 5 years).
I like Dave Ramsey also, but we found something that was more than reasonably priced and is the perfect mix between what I want to do (fish) and what my fiancee wants to do (watersports and cruise around). We’re extremely happy with our decision and should something happen, I’m the one that’s responsible, not you. I appreciate everyone’s advice, but we worked it all out. I’d rather talk about fishing and water related hobbies, and not retirement planning - but I understand that’s not for everyone… I do appreciate your well wishes though.
Congrats. Let’s see some pictures!
My $.02 on adding those extras…if you have any ability at all (and sounds like you do from the cars) and take your time, you can do a better job yourself than most dealer service departments will do.
Agree, we can’t have 3 pages of talking about your finances and not get to see what you spent the banks money on.
“Banana Pants”
Indigo Bay 170
90 Johnson
Wilderness Ride 115
Congrats on the new boat!