Upgrade to this 26' Seaswirl??
Here is my boat. We paid 20k for it. Other than a prop, it has required no
upkeep.http://tinyurl.com/7vaya Here is the boat we're considering.... http://tinyurl.com/c6orm Here are the reasons why..... 1. 6'5" enclosed cabin. The only reason to go below is to sleep or use the
enclosed head. Whereas on my pocket cruiser, I have to crouch everywhere. 2. Supposedly more fuel efficient with the dual prop outdrive. Definitely
tracks better at slower speed. 3. All weather, windowed cabin instead of canvas, more suitable for the
Pacific NorthWest. 4. Quieter, due to foamed hulls. 5. Dialed in with all the electronic goodies. Downside......$465/mo. vs. $183/mo. What do you fellas think? -Greg |
Dene
Feb 1
2006
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| what he said. |
Shortwave
Feb 2
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| then buy a - boat - . look around for a grand banks or whatever in the
40 foot category - why screw around with a cuddy cabin? |
Shortwave
Feb 2
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| I have free moorage for a 26 footer. One of my best friends owns a floating
home with a boathouse, just large enough for a 26 foot boat. Also, I like
that size of boat for the Columbia.. When I retire, different story. We'll
want a 32+ footer to cruise the loop. -Greg |
Dene
Feb 2
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| I'd be financing 40k, paying no more than 50k, for the Seaswirl.
Nonetheless, the Davis Rock Harbor is a nice looking boat. Didn't see any
used ones on www.Yachtworld.com. I refuse to buy new. Wife and I are going to look at it tomorrow. I'll post my thoughts
afterwards. -Greg |
Dene
Feb 1
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| I understand, as I'm quite familiar with amortization tables. However, with
my income, I need all the write-off's I can get. I'd prefer to spend
pleasure money on something tax deductible vs. European vacations or cars or
resorts or Now....when I approach retirement and have a fixed income, different story.
Likely I will own most of the boat and just keep it....who knows. -Greg |
Dene
Feb 1
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| What about twin outboards. Did notice another listing with a pair of 150 hp
Evinrudes. -Greg |
Dene
Feb 1
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| Right....but I think that is most likely to happen to new boat buyers. This
is a $100,000 new. The seller took the biggest hit. -Greg |
Dene
Feb 1
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| My opinion? Much better than a single I/O. RCE |
RCE
Feb 1
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| Trust me, it can, and will happen to anyone with extended loan terms
beyond about 5 years or so. The problem is that with a longer term
loan, most of the monthly payments are going for interest over the
first part of the loan period, very little going for amortization (pay
down of principle amount). If you are proficient with Excel, create a spreadsheet where every
column is one month of the repayment period. Start with the loan
amount and monthly payment. Use the monthly interest rate (annual
rate/12) to calculate the interest paid in the first month. The
remainder of the payment after interest is ammortization. Calculate
the second and subsequent columns by subtracting ammortization from
the principle amount of the previous month. Recalculate interest for
the current month and keep rolling the whole thing forward. It's
actually easier than my description. The bottom line is that you will be shocked at how slowly you are
actually paying the boat off until the last few years of the loan. |
Wayne.B
Feb 1
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| Seems like $60k for a 6 year old boat is on the high side to me. How much
was it new? When I can get a brand new custom Davis Rock Harbor 25 for
$90k, and that is a semicustom boat, the $60k seems steep. As to financing
$40k, that is a personal thing. I would never do it for a toy, but that is
me. |
Calif
Feb 2
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| I do not think many of those are trailerable. |
Calif
Feb 2
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| Pretty steep monthly payment, but that's your business. Boat looks
clean, but for that kind of money, have it surveyed. |
Harry
Feb 1
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| Definitely.had the Starcraft surveyed. As for payment, that 40k at
6.99% for 10 years. I'm not so concerned about the monthly payment as I am
about resale value in about 5+ years. Seaswirl quit making these in 2003,
yet they did get good reviews while in production. I'm not expecting to get
40k in 5 years but it would be nice if half was recovered. -Greg |
Dene
Feb 1
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| it's a little steep for payments and you'll never recover your
investment. i'd look around a little or put a larger amount of money down. you
will never get out from under that loan on that boat unless you have
at least 40 to 50% down and that's iffy. |
Shortwave
Feb 2
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| I'm not that concerned about paying it off. Primary reason is that the
payment serves me well as a 2nd home tax write-off. In my retirement years,
hopefully 10 winters from now, different story. We will definitely be looking around at other boats. That's half the fun.
:> -Greg |
Dene
Feb 1
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| its not a question of paying it off - its a question of relative
investment. yes you can write off part of the interest, but that only
lasts so long - you still have to recover some of the principal if you
ever sell it and at the amount financed, you won't be able to do it. >We will definitely be looking around at other boats. That's half the fun. damn straight. |
Shortwave
Feb 2
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| My opinion? Forget the single engine outdrive and invest your money in a
twin engined inboard with rudders. You will never look back. RCE |
RCE
Feb 1
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| == The problem comes in 3 to 5 years when you decide that you really need
something bigger and you discover that you still owe more than the
boat is worth. In other words, you are "upside down" and have to
payout cash just to sell. Happens all the time. |
Wayne.B
Feb 1
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