Own outright or get a loan?

[Ewok]

One important factor to note is the timing of your purchase.Right now there are smoking deals on 2000-2005 boats. If you buy now, at recession like prices, when the economy rebounds and prices come back up in a couple/few years, you will be able to get out of hte boat for very little loss. Also, at that point your RV will be paid for. You can then decide to keep your paid for boat, or sell it and apply that $$ with your RV payment $$ and get into a newer boat--whichever you decide fits your situation best.

Right now, you really can't go wrong on a good used boat. Going into the fall/winter the deals are only going to get better! Decide what you want out of the boat, your budget, and then be patient while you look for the right one. Use it for a couple/few years and then reasess your needs and financial situation. That way, worst case, you have an RV that's paid for, a boat that's paid for, and probably some savings left in the bank. That's a pretty damn good "worst case" if you ask me.

Word

[KonaKing]

I say "own". It's always a great feeling when I am out boating that I am not making monthly payments.

X2
OWN

[lohe]

Own

+1 what Jason said that is my plan... in 3 years sell this boat use that for a downpayment on a then used 2010/11 RZ2 or 4...

[whitlock87]

find a good used tige and own both. Then save money...

x2

[KonaKing]

Nice to see so many savy peeps. Esp in today economy.

[jwanck11]

principle*interest*time = total payment. In the case of the RV, subtract taxes. Whichever is greater is the payoff.

I do think it is good advice to find a cheaper older boat rather than finance a new one - let someone else take the massive mostly front loaded depreciation hit. Many "older" boats are in excellent shape and some come with warranties.

[brody66]

No brainer, just pay off the camper then pay cash for a new boat...j/k. When I bought my boat the dealer showed me what they could get my payments to, when I looked at it I thought it was a typo but then realized it was 144 payments, I was in a good position at the time of my purchase and got it paid off quick, sure glad I did because I would still owe on it for another 8 years at this point. A friend of mine always told me not to finance toys, which is great if you have either loads of cash or dont need any toys, but its sure nice not to make payments on something you cant use throughout the winter.

[Fiveflat]

A friend of mine always told me not to finance toys

That's a good I've heard that many times before as well...