Quote Originally Posted by CarZin View Post
I always like to examine the opportunity cost of saving before you buy as opposed to the immediate solution of using credit. The boat is a fairly easy exercise. I wait the 5-7 years it would take for me to allocate 30-50k of my savings for a reasonably priced boat, and during that time my body will have aged enough where I may not be able to do all the things I wanted to do when I endeavored to buy a boat. I am also missing all those weekends of fun on the lake with friends and family. Is that worth the wait? In my situation, no. Life is short, and if you factor in the period of time 'most' people can do very active things, it is very short.
This is a fallacy, as you're assuming the only option is a $30k-$50k boat. You can get an inboard that is functional for as little as $2000, or just a working boat for a few hundred. You can get a nice inboard starting around $5000. There's no need to wait 5-7 years and pay $30k-$50k, it is not the only option, though if you act as if it's a $30k+ boat or no boat, then it's easier to justify paying all that interest.