A great experience on someone else’s boat can inspire new boat owners. However, being a passenger is not the same as boat ownership. You still get that freedom from being out on the open water, but you must deal with boat loans, maintenance costs, repairs, and high gas prices to get there.
There’s an old joke about the best days of boat ownership being the day you buy the boat and the day you sell it. If you believe that, don’t buy a boat. You’ll spend all your time waiting for something to go wrong and miss out on the joyful moments you can have with friends and family. Like anything else in life, there will be pros and cons. Here’s our take on that:
Before you submit those documents for loan approval, reflect on your first boating experience. Everything you love about it is available to you with a click of the send button. Do you want it? If the answer is yes, submit the loan application.
If you’re still uncertain, review the list of pros below to reinforce why you decided to do this in the first place.
Boats are a luxury item. They’re not like a car that you’re going to drive every day. You’ll use it infrequently unless you have a job working on the water, but you’ll still pay upkeep and maintenance costs year-round. Boat buyers who don’t understand that at the point of purchase will be miserable. These are the “cons” they’ll notice the most.
Boat ownership is all about perspective. If you focus on the positive aspects of boat ownership, like fellowship, flexibility, and affordability, you’ll enjoy your time as captain of your craft. You’ll be unhappy if infrequent use and maintenance costs get under your skin. Perhaps a motorcycle or RV would be a better choice for you.
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