Your first boat - Page 2 - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest > General Discussion (sailing related)
 Not a Member? 


Like Tree4Likes
Reply
 
LinkBack Thread Tools
  #11  
Old 12-17-2012
blutoyz's Avatar
Senior Member
 
Join Date: Oct 2012
Posts: 640
Thanks: 10
Thanked 11 Times in 10 Posts
Rep Power: 2
blutoyz is on a distinguished road
Re: Your first boat

Quote:
Originally Posted by Smier View Post
My advice is don't do it. You will be essentially paying for that loan for 10 or 20 years or more? Boats are money pits... My personal advice is don't take out loans for your schooling, I know too many people with masters degrees who live at home with mom and dad working part time to make their loan payments. When I went to college, if I didn't have the money to pay for it, I took a semester off and worked multiple jobs until I could. I left school debt free, it was hard enough getting started on my own, I can't imagine having to pay student loans. None of my jobs have ever cared where my diploma came from, as a matter of fact, my first job was more impressed with the fact that I had worked my @ss off to get to that point.
Good advice here....
I don't know when a BA/BS became a requirement to earn a decent living. I know many above average earners (myself included) that never took the time to get their degree.

That said...find a way to get school done and then worry about a boat
Reply With Quote Share with Facebook
  #12  
Old 12-17-2012
jameswilson29's Avatar
Senior Smart Aleck
 
Join Date: Aug 2009
Location: Richmond, Virginia
Posts: 2,062
Thanks: 28
Thanked 66 Times in 61 Posts
Rep Power: 6
jameswilson29 is on a distinguished road
Re: Your first boat

Quote:
Originally Posted by ArmaniRG View Post
So I was reading through some other posts... I am wondering how many of you bought your first boat with a student loan... I have a few friends who did this and moved aboard instead of renting a place while they were at school. Any good stories or advice for those university students out there?
Yes, don't do it. Almost every student loan will never be dischargeable in bankruptcy under 11 U.S.C. Section 523(a)(8), unless not discharging it would impose an undue hardship, which practically requires a terminal illness prohibiting employment. I file bankruptcies for a lot of folks who still face repayment of support obligations and student loans, and they may be destined for a life of near poverty as a result.

Student loans are o.k. for financing an education and living expenses while studying, not o.k. for a luxury item.
Reply With Quote Share with Facebook
  #13  
Old 12-17-2012
hellosailor's Avatar
Plausible Deniability
 
Join Date: Apr 2006
Posts: 10,600
Thanks: 2
Thanked 87 Times in 85 Posts
Rep Power: 10
hellosailor has a spectacular aura about hellosailor has a spectacular aura about
Re: Your first boat

Guys, it seems that the OP is talking about buying a boat with money that would otherwise be spent on rent. Now, if he could put the money into a down payment on a house, would anyone object? Probably not. There is an argument to be made that rent money is simply money thrown away and gone, where buying a condo or home or boat would at least be leaving him with something solid after "the same" expense was made.

Assuming that one could buy, maintain, and berth the boat without it costing way more than dorm space does. I'd like to see that. Dorms have sure gone upscale in the last 40 years, along with their costs. But boats and berths...

Maybe if he's an art student and can put the boat in the campus fountain, and declare it to be an art project?
Reply With Quote Share with Facebook
  #14  
Old 12-17-2012
guitarguy56's Avatar
Senior Member
 
Join Date: Oct 2012
Posts: 518
Thanks: 6
Thanked 18 Times in 17 Posts
Rep Power: 2
guitarguy56 is on a distinguished road
Re: Your first boat

I sailed small sailboats (lasers, cats, etc) during college and after I graduated went to work at Pratt & Whitney aircraft engines in West Palm Beach, FL... there I had a duplex on the Intracoastal Waterway... we had catemarans on Lake Worth that we could use (duplex complex owned) free of charge so we used them constantly... then I got married and we brought our first small sailboat a 19 footer with a small cabin and sailed her for quite some time... sold it and got our next larger boat up here in Seattle till 1995 then we moved to Savannah... there I was without a boat... my father in law had a sportfisherman and we would occasionally go out on that but my love was sailing... now I have one here in Seattle that I live on and sail during my assignment here... soon as it's done it's pack the boat and transport it to Savannah and hand it to my son... the idea is to get the sailboat after college and you have the means to afford the boat and it's fees... they aren't free and the fees seems to go up each year!

Last edited by guitarguy56; 12-17-2012 at 03:34 PM.
Reply With Quote Share with Facebook
  #15  
Old 12-17-2012
Junior Member
 
Join Date: Nov 2012
Posts: 26
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
wanttosail is on a distinguished road
Re: Your first boat

Quote:
Originally Posted by ArmaniRG View Post
So I was reading through some other posts... I am wondering how many of you bought your first boat with a student loan... I have a few friends who did this and moved aboard instead of renting a place while they were at school. Any good stories or advice for those university students out there?
I'm currently land locked in Denver too but wanting to get a boat also. Do you do any sailing around here?
Reply With Quote Share with Facebook
  #16  
Old 12-17-2012
Omatako's Avatar
Senior Member
 
Join Date: Sep 2003
Location: Auckland New Zealand
Posts: 2,407
Thanks: 0
Thanked 27 Times in 24 Posts
Rep Power: 12
Omatako will become famous soon enough
Re: Your first boat

Quote:
Originally Posted by hellosailor View Post
Guys, it seems that the OP is talking about buying a boat with money that would otherwise be spent on rent. Now, if he could put the money into a down payment on a house, would anyone object? Probably not.
Yep I think I would. I didn't do a degree and it never did me much harm - I know several people who have degrees and haven't done that well financially. Degrees are not a guarantee for success.

I always considerable student loans to be for funding study and all other costs are covered by living with your folks and earning a buck after hours for your goodies. My daughter waitressed every night to pay for her clothes, car, entertainment, etc. while she was studying and when she had no money she stayed home.

Now I see kids go to university, get a great big student loan (which in NZ is interest free, subsidised by the government) and then buying a sportscar (or a boat) or simply pi$$ing it against a wall, fail dismally in their degree attempts and bail out of college and I, a tax payer, have to support their student loan for the next ten years. Thanks but no thanks.

Student loans should be managed by someone other than the student and school fees, books and anything to do with studying should be paid for from the loan and nothing else.

If you can't afford college, go do a trade - the world needs more tradesmen.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

__________________

"Two possibilities exist: Either we are alone in the Universe or we are not. Both are equally terrifying."

Arthur C. Clarke
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
WANTED: BASIC BOAT BBQ. CHARCOAL IS OKAY, BEATUP IS OKAY, ANY BOAT BBQ - $25 seattle stephenronning Gear & Maintenance 2 03-30-2009 09:21 AM
Coast Guard finds missing boat, still searching for other boat - FayObserver.com NewsReader News Feeds 0 05-11-2007 11:15 PM
Coast Guard finds missing boat, still searching for other boat - Access North Georgia NewsReader News Feeds 0 05-11-2007 10:15 PM
Coast Guard Finds Missing Boat, Still Searching For Other Boat - WSOCtv.com NewsReader News Feeds 0 05-11-2007 04:15 PM
Coast Guard finds missing boat, still searching for other boat - Myrtle Beach Sun News NewsReader News Feeds 0 05-11-2007 08:15 AM


All times are GMT -4. The time now is 05:33 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.