Join Date: Sep 2011
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Re: What Is A Boat Really Worth?
As for using Other People's Money. Yeah. It's a great idea. But it does not work when you are buying a depreciating asset that will not be used for generating revenue. In that case, as hellosailor said, it is the bank that is using YOUR money--not the other way around.
Don't forget the money you didn't use to buy the boat. If that's generating more in interest than you're paying for the loan...
There's a lot of ways to look at the value of that money you didn't spend.