Are boats a bad investment?

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Joseph Kub asked a question: Are boats a bad investment?
Asked By: Joseph Kub
Date created: Wed, Jul 7, 2021 9:19 PM
Date updated: Thu, May 26, 2022 3:51 AM

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Top best answers to the question «Are boats a bad investment»

Boats are a good investment if you don't overshoot your budget. If you research your options and go for a vessel that you can afford, nothing trumps the joy of spending time on the water. However, a boat can definitely also be a bad investment. A rule of thumb is to only buy a boat you can afford to pay for in cash.

FAQ

Those who are looking for an answer to the question «Are boats a bad investment?» often ask the following questions:

⚓ Why are boats a bad investment?

When it comes down to it you shouldn't invest in a boat because of the expensive beginning costs, the costly variable expenses, the long-term commitment, and the exponential depreciation in value.

⚓ Are boats a good or bad investment?

Are Boats A Good Investment or A Bad Investment? A boat is like any financial investment. If you know what you are doing, then a boat is a great investment. If you don’t know what you are doing, then it can be a very bad investment! There is an element of risk in any investment, understanding that risk is what you need to know.

⚓ Are mariah boats good boats?

Quality is very good. Mariah's were built using top quality materials and they were ahead of many of their competitors in build quality, especially in the interiors. They were also "equipped like no other boat in the world".

10 other answers

What you have probably also heard — or have hopefully read about — if you’re thinking about buying a boat, is that a boat can be a very, very huge investment in a lot of ways. Nobody really just buys a boat. There are a ton of things that are going to have to come with your boat if you want to own it and do a proper job.

A boat is like any financial investment. If you know what you are doing, then a boat is a great investment. If you don’t know what you are doing, then it can be a very bad investment! There is an element of risk in any investment, understanding that risk is what you need to know.

So if you’re looking at it as a purely monetary investment, it is indeed a terrible one. But if you’re going to get a lot of enjoyment out of your water craft, then you might consider that any additional funds you don’t get back were spent on the entertainment value, perhaps making it a worthwhile investment after all.

Boats are a good investment if you don’t overshoot your budget. If you research your options and go for a vessel that you can afford, nothing trumps the joy of spending time on the water. However, a boat can definitely also be a bad investment.

The boat industry is booming despite the COVID-19 pandemic, meaning what was once considered a bad investment is a ticket to freedom, safety and escapism. The money sucks now seem like a steal for their freedom, safety and escapism.

Buying a Boat Isn’t Always a Bad Investment. by Savannah Keaton on August 29, 2020. Buying a boat is great. Whether you’re relaxing on the lake, riding the ocean waves, or just fishing on the river, there’s nothing better than owning a boat.

I have owned a few boats, several large enough to live on, and they were all an expense, not an investment. A good investment goes up in value, and has low or no costs. Examples include stocks, bonds, and precious metals. A bad investment goes down in value and has substantial costs. Examples include boats, airplanes, and trophy spouses.

As the saying goes, a boat is a hole in the water you pour money into. Bills for maintenance and repair will never cease to creep up on you, whether it's your annual insurance renewal, paint retouching, the air con or refrigerator that needs fixing, or the electronics playing up.

Way2slow noted factors that can & do apply to various purchases where the item is financed, not just a bass boat. Stocks, Bonds & Real Estate are examples of investments, a bass boats is a recreational item (unless you use it to make a living). Whenever I think of something as "Expensive" it usually means I can't afford it.

Don’t just say ‘no’ to any particular purchase or investment. Run the numbers to see if you can afford, say, a boat. Then think about whether it’s worth it to you.

Your Answer

We've handpicked 23 related questions for you, similar to «Are boats a bad investment?» so you can surely find the answer!

Are crownline boats good?

Yes, Crownlines are heavier than most of their competition but yet they perform just as well or better than the competitors. That's because things like durability, hull design, lowering bow rise and increasing acceleration times are all taken into consideration when boats are built and designed.

Are hinckley jet boats?

Under the new ownership, Hinckley began to market power boats equipped with jet drives. The company also developed more advanced fiberglass construction techniques dubbed "Dual Guard", which aimed to create a stronger hull.

Are inflatable boats dangerous?

Inflatable boats can be dangerous, but the statistics show that the inflatable boats are 45 times safer than other motorized boats (including both open and cabin motorboats). And by doing a few changes to the way you ride the boat, you can dramatically reduce the risk of injury and dangers.

Are jon boats dangerous?

Jon boats are not as safe or stable as V-hull boats in choppy or turbulent water. However, in calm, shallow water, jon boats are incredibly safe as long as you don't add to much weight or exceed speed recommendations… But for the most part, yes, jon boats are safe.

Are jon boats good?

These are an excellent way to try your hand at fishing and boating without breaking the bank. If you do decide on a jon boat, you will find that it is one of the best ways to get started in fishing and boating. Known for their flat, stable bottom, jon boats are an excellent way to have a fun day on the water.

Are paddle boats dangerous?

Due to their small size, slow speeds, and limited movement, they can be subject to various injury risks and risks of accident. In particular, the most dangerous risk for pedal boats is if they capsize, as this can trap the boaters underneath, submerging them and exposing them to drowning risks.

Are pontoons party boats?

Pontoon boats are the ultimate choice for a mid-summer excursion. Comfortably fit up to 15 people on select models. Entertain friends and family with feature-rich party pontoon boats featuring marine-stereos (Bluetooth-friendly), comfortable lounges, sundecks, and optional privacy enclosures.

Are rental boats profitable?

Boat hiring and boat rental services are tapping into the booming market of the experience economy… This makes the maritime business highly attractive, and with the right knowledge, concept and boat design, boat rental can be a highly profitable business idea to start.

Are rib boats dangerous?

This is a question we often get asked as people are concerned about the safety of inflatable boats, largely because they can puncture on sharp items. Fortunately, the fact is that inflatable boats are just as safe as traditional boats, and in some cases they may even be safer!

Are sylvan boats aluminum?

Sylvan warrants each new aluminum hull for a period of ten (10) years, lifetime warranty on all riveted seams. A copy of the Sylvan Limited Warranty is attached to each new Sylvan boat, or may be obtained from any dealer or the Sylvan factory.

Are tahoes good boats?

Tahoe boats integrate versatility into every model in their lineup. These boats have a solid industry leader behind them and they are proud to manufacture and service your boat… They specialize in runabout-style boats, and they are all made of fiberglass.

Are techtidewater boats reliable?
  • Tidewater Boats seem to be as reliable as other boats in their price range at this point. Most problems reported by owners are common to other brands in a similar price range. A few electrical failures have been reported, such as a three-button switch panel on the hardtop breaking down.
Are there electric boats?

Other Solar and Electric Boats. Other electric boats (some with solar arrays) include the Q Yachts Q30 tender and the Secret 33 water taxi. Duffy Boats has been building a line of electric leisure cruisers for the past 50 years. You’ll see many of these in rental service in tourist areas on cocktail cruises along with their main competitor, Lear.

Can boats go backwards?

The short answer is yes, moving in reverse is a maneuver often required in boating, usually when docking or launching from a ramp. This article shows you everything you need to know about reversing boats and more. Reversing, or moving astern, is not as intuitive as it may seem.

Can fiberglass boats rot?

Fiberglass is incredibly durable and generally speaking, it will not rot. It is a rare boat, however, that is pure fiberglass. Most boats still have a wood structure underlying the fiberglass and these “stringers" are vulnerable to water incursion and rot if the boat isn't maintained.

Do boats despawn rust?

Boats spawn randomly around the map near shores, rivers, and Lighthouses. Although they cannot be crafted, there are around 64 boats spawned on a normal size (4k) map at any given time. They despawn in 3 hours if not properly parked, so be prepared to build a boathouse once you find one (more on that below).

Do boats flip easy?

Ships are built so that they can't easily flip over – or capsize. Whether a boat capsizes or not has a lot to do with something called its centre of gravity. We think of gravity as a force that pulls things downward (toward Earth's centre), but it doesn't always work like that.

Do boats get repossessed?

Commercial lenders will always assign a repossession to a licensed repo agency. In California, a repo agency must be licensed by the Department of Consumer Affairs… Private party lenders may repossess a boat themselves, but they should resist the temptation to do so.

Do boats have drafts?
  • Boats may be offered with engine options that can change the weight, and thus draft, of the boat. The more weight you have in the boat, of course, the lower it may ride in the water and the more it may draw. The design of the hull will affect how much draft changes in response to boat load.
Do boats have warranties?

Generally, used boats do not come with warranties.

Do boats hold value?

In general, boats lose about 36% of their value after 10 years of ownership. Boats lose between 23% and 30% after 5 years and between 18% and 22% after only 1 year of ownership from a new current year purchase. This is considering the boat being properly maintained and kept in good overall condition.

Do boats need insurance?
  • But boats need insurance, too. Just like cars and homes, boats can be damaged or cause injury or damage to people or property. Many states require a minimum amount of liability insurance on your boat. And if you have a boat loan, your lender probably requires you to carry insurance for the boat itself.
Do boats use antifreeze?

Most boats only have a raw water cooling system, pulling water in from the lake or ocean, circulating it through the engine block, and then discharging it overboard. Because automotive-type antifreeze is highly toxic, we'll need to use a non-toxic variety for this application.