To boat or not to boat?
FIL has a small boat (I know NOTHING about boats, NOTHING) that is I guess more of a fishing boat? I would say about 6 people could fit in it comfortably. It "runs well" apparently.
He offered it to DH for $2,000, which does not need to be paid immediately. He just wants it off his hands.
Of course my first response is hell no, we do not have the money. DH wants to try to see if we can keep it at the boatyard down the street first and then make a decision. We live on the bay.
So my question... small boat... worth it or money pit?
- AJanie's blog
- Log in or register to post comments
Comments
I've always been told "If it
I've always been told "If it floats, flies, or f**ks, rent it don't buy it"
LOL
They always say that the best
They always say that the best days as a boat owner are the day you buy it and the day you sell it.
There is an old saying, "A
There is an old saying, "A boat is a hole in the water you pour money into." Or something along those lines.
If you don't have your own dock for it, then you are looking at docking fees. Plus the cost of maintenance, cost of insurance, cost of licensing, etc. Do you currently have a vehicle strong enough, if it needs to be towed somewhere? Not sure where you live, so it might only be able to be used seasonally.
Really depends on how much you (as a family) will use it and if the enjoyment is worth the cost.
Paid immediately or not, if
Paid immediately or not, if you don't have the money...
Not to mention, it's not something that is a one time cost. Paying for the actual boat is only the beginning.
^^^ This.... If you don't
^^^ This....
If you don't have the $ to purchase it then will you have the money to maintain it?
I would check into the cost
I would check into the cost of dock fees as a start. Also what would be the plan for FIL pmts?
Does your DH know enough about boats to work on it if need be?
In theory, a boat is a nice hobby. However if you don't have the money to keep up with it and keep it at a dock it can quickly become a drain. Also, you have to be sure to look after it.. make sure it isn't full of water after rains etc.. is your DH up for that kind of responsibility?
He is the handy type. Works
He is the handy type. Works on cars, cuts down trees, does some plumbing work... jack of all trades. I am sure he would maintain it, that isn't a concern.
It is just "unexpected expenses."
As far as $500 down, then $1500... it wouldn't break us... FIL wouldn't care if we paid him over the course of 6 months or so...
Given our location I think it could be fun. I just don't want to make a purchase we regret.
Do you have any idea what
Do you have any idea what it's worth on the public market? You can do a search on KBB.com for boat values. Also you can check online for listings of similar boats. If you get a super deal on it...then perhaps you could sell it for at least what you paid pretty easily. If FIL is selling close to market value.. that is more of a risk.
I have to learn more. DH just
I have to learn more. DH just called with his excited voice, and told me very little. He wants to meet with FIL this weekend. Ughhh.
Thanks for info!
Thanks for info!
And, only put non-ethanol gas
And, only put non-ethanol gas in a boat. If you can find it at pump in town, it will be cheaper than at the marinas. (just have jugs for gas)
If that is allowed - check
If that is allowed - check with your state laws. Self-filling from gas cans while boat is in the water is illegal in some areas. So more $$ for fuel at the dock.
If that is allowed - check
If that is allowed - check with your state laws. Self-filling from gas cans while boat is in the water is illegal in some areas. So more $$ for fuel at the dock.
If that is allowed - check
If that is allowed - check with your state laws. Self-filling from gas cans while boat is in the water is illegal in some areas. So more $$ for fuel at the dock.
I wish we never bought our
I wish we never bought our boat. It's been a nightmare. Unless you both have the same expectations as to how much money will be spent on the boat, how much free time will be spent boating and who is going to perform which roles, it's a shit show.
I wish someone would steal ours.
Shit show for sure, I have
Shit show for sure, I have seen couples lose their minds trying to get the boat back in the trailer after a day on the lake. It is actually amusing unless you are a guest on the boat of the shit show couple, lol.
I can anticipate that type of
I can anticipate that type of day.
DH is probably envisioning his family, all smiles and tan skin, catching fish together on the glistening bay, having the time of our lives.
That is how he has always been. Blinders on to the realistic implications. I am the one who swoops in and rains on the fun parade. lol
No money; no boat.
No money; no boat.
One would think. His father
One would think.
His father just dangles this carrot in front of his face, ugh.
Now I will be the bad guy if I shut it down. DH is a dreamer, I am the realist.
look at whether it's in good
look at whether it's in good shape.
Does it come with the motor? Oars? what about the cost without the motor?
how much is docking fees?
how much is boating fees? (as in - do you have to pay to get out on the water)
licencing?
are you going to be fishing?
fishing licence?
you also need your PFD's...those aren't always cheap.
I guess thinking a little
I guess thinking a little further would be what shape are you two in financially?
Does your DH pay his full share of household expenses and any other obligations he may have? Is he up to date? Debt?
If he is behind, I think you honestly have to point out the problem with him taking on another financial obligation when he doesn't have his current ones under control.
We have several boats, but we also have our own dock space that costs us zero so the boats are paid for and we only have to pay money when we want to use them.
Also, take a hard look at how much free time you two have and how it is spent now. Do you have 4-8 hours a weekend to go boating on a regular basis? If not, that's another reason it might not be great to buy it.
I know you hate being the bad guy but FIL should not be pushing his financially shaky son to buy something like this. If he wants to GIFT it? another matter entirely.
FIL is so selfish. There is
FIL is so selfish. There is no reason he couldn't gift it.
Financially we are not well off, he just got a small settlement so we are "better off" than we were, and another settlement coming. We have debt we are paying off. DH still needs to find employment after the WC case ends, he can never go back to full duty at his old company. So there are very serious unknowns in that regard.
The only reason he could argue it makes sense is because we live on the bay. A 2 minute walk down the street to a marina. I am sure we would use it but I don't want another headache to deal with.
dammit fruity, you made me
dammit fruity, you made me choke!!!!
Echo, what if we have no bios
Echo, what if we have no bios together? Can it be the first born skid?
I'll wear my running shoes!!
I'll wear my running shoes!!
I have a beta player. Dunh
I have a beta player.
Dunh duh duuuuunhhhhh.....
(No subject)
Running shoes and a HELMET!!
Running shoes and a HELMET!!
Bubble wrap?! I'm like a kid
Bubble wrap?! I'm like a kid in a candy store with bubble wrap. NO WAY it would survive for long!!!
I'm on my third Mental
I'm on my third Mental Martini...
~Naughty Aniki picks up her
~Naughty Aniki picks up her cat o' nine tail whip~
If you knew FIL... you would
If you knew FIL... you would understand.
I echo Echo, I was raised the
I echo Echo, I was raised the same way.
We aren't entitled people. I
We aren't entitled people.
I don't have the energy to get into to story of FIL but he IS a selfish man for reasons that go way beyond not gifting a little boat.
Even if he were to give it to
Even if he were to give it to you, there will be costs involved. FIL is not going to pay for gas, maintenance, registration, etc.
TBH, I see it as someone who
TBH, I see it as someone who has had to deal with a lot of fiancial crap because her DH has been the root of a lot of financial messes from his addictions to his WC claim and unemployment.
For his father to try to sell him a boat when the father might be well able to afford to give his SON a gift when he should KNOW the guy is on shaky financial ground is a bit unfair.
I can see her frustration because his FIL has dangled this shiny little toy in front of her husband but put a price tag on it that is sure to make his son want to jump at the deal. Now OP has to be the bad guy and try to put the brakes on her DH's dream.
I am guessing that FIL is fairly well off too, and I think he is being tone deaf in making this offer.
My parents GAVE me my mom's old car when she could no longer drive. It was about 5-6 years old at the time.. so they certainly could have sold it to us, but they didn't need the money and didn't want the hassle of selling it. That's what families do sometimes.. give each other things without expecting anything in return.
THANK YOU.
THANK YOU.
Unfortunately, it sounds like
Unfortunately, it sounds like a really bad idea given your financial situation. The crappy part is now you are being put in a position to be his mommy and tell him "no".
I might approach your DH like this:
"I am afraid if we get the boat, we will end up in a financial bind. Things are so tight now and I don't know how we would afford dock fees etc.. on top of it."
If you "do" get it, do you have a place out of the water (in your yard) that it could be stored for free? A boat that small would likely be trailerable. Not sure if you have a truck to pull it though.
Yup, if I say no, I am the
Yup, if I say no, I am the bad guy.
We live in a building with 30 condos. No place to store except the boatyard.
How are you the bad guy for
How are you the bad guy for saying no to something you can't really afford? Maybe your husband should be an adult and just say no, himself, considering he's not even employed.
This is the crux of the issue
This is the crux of the issue here. Her husband is a bit immature and doesn't make great financial decisions. If it were a boat dealer situation, they would be the ones to tell him "no". They would say, you don't have a job, you don't have the money, we aren't going to let you take a boat off our lot without some form of payment or loan.. and you have neither. His dad? Well, his dad is making it super easy to dig his own hole. He's handing him the shovel by offering to let him pay for it "later".
Who knows, maybe FIL is angling to get some settlement money? Maybe the boat is a hard sell for some reason and he figures to pass that buck to his kid instead?
OP is the only one in the position to put the brakes on this boat situation. Her DH is excited about getting this toy. FIL is happy to be dumping off "hole in water" on someone else. Yeah, DH should be more adult, but the fact is, he isn't.. so she gets to be the bad guy and tell her son.. I mean husband... NO.
That isn't fair for her.
Why wouldn't he be the bad
Why wouldn't he be the bad guy, trying to blow what you do have a boat?
Seriously, look into how
Seriously, look into how expensive boating is. Just a day out can be $60 or more. Gas, snacks, drinks.
I thought the same way as you. We practically live on the water. Ocean and rivers all around us. I took out a loan to buy my DH a boat. It's "only" $117 a month. I was so naïve. Didn't think about insurance, storage fees, and all the personal safety items you must have. And that's just he tip of the iceberg.
A bad motor, saving account took a $6000 hit. Because we can't "owe money on a boat we're not even using".
I have done some stupid crap in my life, but getting the boat was one of the stupidest.
Thanks for the thoughtful
Thanks for the thoughtful response, Anotherstep.
He will never be responsible with money nor will he understand just how difficult it was for me. He thinks because he still kept the roof over our heads that he did his part even while out of work. His idea of what comfortable is and my idea are 2 different things.
It would be cheaper to rent a
It would be cheaper to rent a boat for a day. Plus, there are no worries about repairs, insurance, etc...
Having owned a couple of
Having owned a couple of boats .... I won't own one again. If I want to boat... I will rent one.
My neighbor has a boat and
My neighbor has a boat and takes us out on it a lot and it's super fun. He pulls my girls on this giant inflatable couch and inner tubes and we water ski. It's also been in the shop for a whole month now for an oil change. It's one year old . He paid $36,000 for it. He and his wife are veterinarians. He goes scalloping in it . I live in Florida
Nope don't buy it. The cost
Nope don't buy it.
The cost is simply too much, how many times did you and DH go out on the boat... every week-end? once a year...
is the money worth the times you actually used it?
i would not, although I love water and boating, I will not buy one, I rather rent one for a day, when I had the opportunity to buy a very cheap one, I looked at how many times did I actually rent a boat in the past year...
I came to 5x... I decided nope not buying one......