Buying a boat you can't afford?

[evileye]

There are a lot of posts on some other sites looking for 2 or 3 to share expenses. Am I missing something? What I am getting at is , are people over their heads financially? When I bought my boat I calculated the purchase price, insurance , summer slip, winter storage, rough maintence costs and fuel and tackle based on the number of offshore trips I planned on taking.I bought a boat that was comfortable for me financially. I didn't buy the boat planning on paying 80% of the expenses and calling on my buddies to pay the rest. I realize gas/diesel is 4-5 bucks a gallon and if you bought two or ten years ago you didn't plan for that number. Would you go into a boat deal planning on 10 Canyon trips per year knowing you could only afford 2 yourself and your only hope of making the 8 other trips is to find others to pay the fuel bill?

[Double D]

Buying a boat you can't afford?

Is there another kind?

[knot for shore]

I realize gas/diesel is 4-5 bucks a gallon and if you bought two or ten years ago you didn't plan for that number. ?

this may be your answer.

it just costs more to run the boat than a few years ago or even last year, plain and simple. i had a "friend" hit me up to fish "alot more" this year already to help with fuel costs. the only catch is this "friend" never called me when he didn't need financial help. guess, what, i'll be fishing with my not so fair weather friends.........on bigger boats.

[Tuna Taxi]

There are a lot of posts on some other sites looking for 2 or 3 to share expenses. Am I missing something? What I am getting at is , are people over their heads financially? When I bought my boat I calculated the purchase price, insurance , summer slip, winter storage, rough maintence costs and fuel and tackle based on the number of offshore trips I planned on taking.I bought a boat that was comfortable for me financially. I didn't buy the boat planning on paying 80% of the expenses and calling on my buddies to pay the rest. I realize gas/diesel is 4-5 bucks a gallon and if you bought two or ten years ago you didn't plan for that number. Would you go into a boat deal planning on 10 Canyon trips per year knowing you could only afford 2 yourself and your only hope of making the 8 other trips is to find others to pay the fuel bill?

I think most people made the calculation you outline above, and several years ago the result was a very different number than it is today. I burn about 280-300 gal on a canyon trip, and when I bought my boat that was about $330 per trip in fuel. Now, that same trip is well over $1400 just for fuel. I can afford that, but I'm not willing to pay it. There is a difference. That doubles the cost of owning and operating my boat. If the jump in fuel cost does not change the calculation you made buying your boat, you either miscalculated or you do not run it.

So I'm not sure if your post is to make people feel bad because they are caught in a bad spot because of the fuel cost, or to try and make yourself seem wise and affluent, but I think you missed the mark on both. If you think the price of fuel increasing 4-fold in a few years does not significantly change the cost and ability to operate a boat the way you planned at purchase, I will strike the wise part above and just assume you think you're affluent.

Either way, have fun on your boat this weekend.

[Questsportfishing]

I worried about that coming... so I repowered my own old boat , worked my ass off , and bought new engines. Some people though just don't use thier boat enough so they invite more people in on 'the deal' so to speak and help pay the bills... my wifes my only partner (and I cannot kill her for docking by braile..).. alot of people though are slow and have a bunch of bills and a lot more stuff is costing more other than gas. The boats I am rebuilding for people are pretty cost and fuel efficient . our last trip we burned 247 gallons split by 6 people at 4.07 per gallon ... that will not kill me but it sucks the extra gas from last year was the same as a bottle of Capt Morgans and some bottles of Barefoot wine.. now you tell me if that doesn't suck...

[snowranger]

Not being able to afford it and trying to save money are two different things. My boat isn't huge but fishes and travels very comfortably with 4 on board. I can afford to make 15 canyon trips a summer with my wife or a buddy (+/- $650) but it is much more economical to take two extra anglers and pay $325. Hey, in one trip I just saved enough for a flight to Vegas...next trip a new 30w...the next trip a new dredge. Over the 15 trips there is a savings of almost $5,000. In addition to the financial benefit, you get to hang out with new or old friends. I am lucky that I have a bunch of friends who are always looking for a ride offshore. If I didn't, I would be looking for ho's to fill the spots. Just my $.02

[nautiduck]

I know a few people who do this and their take on it is like a time share. For some the cost of total ownership just isnt worth it. I know of one group, 3 families all with kids, all comfortable financially, all from NW PA who could afford the boat on their own went in bought a house together on the islands in SC (leave out the details some people dont appreciate sharing their situations) and bought a nice brand new 30ft center console to share. To me it seems pretty damn smart. You get to invest in the house you get use of a boat that you may not use all the time at a third of the cost. Now unless you're a professional (charter or what have you) buying a boat is financially pretty damn stoooopid ( please dont yell at me I had and am buying another). Show me where the ROI is on owning a boat. I think the people who do this and can pull it off with sharing with others are pretty smart. I wont just because I dont play well with others and I dont like sharing my big boy toys. On the other hand mines not going to be new and shiny. To each their own. I guess some people are richer and much much smarter than the rest of us.

[Fish Dad]

While I can afford to pay 100% of my offshore trips, I believe there is nothing wrong is asking friends to chip in and help with the cost of the trip.

[nautiduck]

Maybe I misread is he bitchin about 2 or 3 buying a boat or just sharing expenses on a trip? Cause seriously dude I dont know too many people that go out on the pond with friends or even aqaintences(thats not spelled right) without pitching in for expenses. Like they say gas, grass, or baloney samitches no one rides for free. Unless shes smokin' hot and a teeney weeney bikini then maybe, but she better bring bait. Seriously man whats wrong with sharing expenses? Rockefeller aint Rockefeller because he gave it all away.

[krazy8]

Maybe I misread is he bitchin about 2 or 3 buying a boat or just sharing expenses on a trip? Cause seriously dude I dont know too many people that go out on the pond with friends or even aqaintences(thats not spelled right) without pitching in for expenses. Like they say gas, grass, or baloney samitches no one rides for free. Unless shes smokin' hot and a teeney weeney bikini then maybe, but she better bring bait. Seriously man whats wrong with sharing expenses? Rockefeller aint Rockefeller because he gave it all away.

I do believe he was referring to the differance between asking for a few to share expenses , against taking friends fishing and maybe they offer to pitch in for fuel .........