Originally Posted by Gene T
You cannot ignore cost of money even if you do not finance. You would still have lost revenue if you spend more. Insurance costs will be more too.
But in reality I think any discussion trying to rationalize a boat choice based on cost analysis is silly. You buy a boat because you like it and can afford it, not because it makes financial sense because buying a boat never makes any kind of financial sense.
But money WILL make a difference unless you have unlimited funds. (I Don't) If I spend all my money maintaining the boat, then I won't have the money to sail her. What would be the point in that?
I guess what I am trying to figure is Total Cost of Ownership over 25 years for an older versus a newer boat.
Is that 2 year old Catalina is going to end up costing me $150,000, $250,000 or much more in 25 years. Is the cheap to buy upfront older Tartan going to cost me $80,000, $150,000, $250,00 or even more in 25 years. I keep hearing that keeping an older boat going can be extremely expensive.
As far as financing goes, someone mentioned financing a $125,000 boat would add on another $25,000+ or so to the price of the boat and I wanted to take that out of the picture since I won't be financing.