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cost of buying a boat
I''m planning on buying a sailboat, in the 33-36'' range, and for the sake of argument, let''s say I''ve got about $125000 to spend, either on a new boat or a recent used one. I''m planning on getting a good cruising boat to operate on Lake Michigan.
What I''d like to know is, in monetary terms, based on the above 125k, what it''s going to likely cost. Specific items I''m ignorant about are (all I''m looking for here are general ballpark guesstimates in US$):
insurance (about how much $$$ to insure a 125k boat?) I''d like rules of thumb, like I heard that insuring sailboats is about 1/3 less than powerboats, insuring a boat for the great lakes is less than insuring a boat to sail an ocean passage, etc.
financing (what kind of rates and terms would I expect, for instance, could I expect a 25 year loan at 10%, or is that unreasonable for some reason? If so, why? and what''s correct?)
I''ve got some marina/mooring figures and winter storage figures in Chicago, which I believe is somewhere around $5000/yr, including winterizing. That sound about right?
Any and all other hidden costs or other financial gotcha''s I am probably unaware of (please, with dollar estimates for a $125k sailboat purchase).
Thanks for any and all feedback.