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Thread: Used boat discount question.
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08-22-2019, 12:28 AM #11Senior Member
- Join Date
- Aug 2018
- Posts
- 100
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08-22-2019, 06:27 AM #12
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08-22-2019, 08:22 AM #13
We put 37% down on our Mojo and financed the rest for 12 years. This was only possible for use because we used our old boats equity to come up with the 37%. I would have financed longer but my wife vetoed it. IMO finance 15-20 years and then just pay extra if you can to get it paid off early. I don't like the idea of tying up all my monthly income in mandatory debt spending. If you finance for a long term and some kind of emergency happens you can pay the minimum payment while you work through your situation or try to sell the boat and if times are good and you have some level of self discipline then you can always double up or triple your payments to avoid interest. If you finance for like 5-10 years you can get in a bind quick if life throws you a curve ball.
David
2017 Moomba Mojo Max Surf Edition, 2 Pair Wetsounds Rev10s powered by an SD2, 6 pair Wetsounds XS650M and Wetsounds XS12 powered by SD6 all controlled by a WS420. 2 Lumitec SeaBlaze X2 Spectrum underwater lights
SOLD***2008 Mobius LSV, Gravity III , Wake Plate, Z5, Exile SX65c's, Exile XM9s, Exile XI12D, Exile Javelin, Exile 30.2***SOLD
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08-22-2019, 08:31 AM #14
The credit union I use was 4% for marine loans at the time.
Same rate from 1-20 years. I opted for 20 and simply make it extra payments directed towards principle.
Sent from my iPhone using Tapatalk2021 Supra SA 400
2018 Supra SA 400 (SOLD)
Michigan
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08-22-2019, 11:21 AM #15
I'll tell you guys, after having our first season (and 83 hours so far) under our belt, any wakeboat as a first boat is a shit ton of work. But also awesome.
The work part, what I mean is that you're learning new boater stuff: driving, trailering, storage, fixing, etc. and then on top of all that, you're also worrying about weight distribution, wake and wave size and cleanliness, towing riders, etc. You're also buying all the basic boat stuff + all the boards and ropes so the startup cost is also higher and there's more to worry about. I'm so glad we did it but it's easily double the amount of work vs if you bought a regular boat as your first boat. Just be ready for that.
We were in your shoes, tempted by a G21 or SA...but chose to start more analog and basic. Don't regret it for a second and there's always time to upgrade. But with all of the above going on, the longest warranty possible was worth it to me (on new Moomba).
Bingo. 'Cash is king' so I choose to keep my liquid and earning more $ (real estate right now is paying out 6-7%). It's basically a rental for most guys anyway, until they upgrade 3-5 years later.--
2019 Craz
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08-22-2019, 11:35 AM #16
To add to Matt’s point, this is EXACTLY why I chose the Supra SA, out of the box (after break in hours of course) is surf ready with a push of a button.
Perfect for a NEWB.
Helped significantly with the learning curve and enjoyment of this boat and sport.
Can the Supra’s benefit from adding lead and adjustments to your preset rider profiles?? Absolutely, but the luxury of being 95% there day one out of the box is huge.
Sent from my iPhone using Tapatalk2021 Supra SA 400
2018 Supra SA 400 (SOLD)
Michigan
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08-22-2019, 11:35 AM #17
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08-22-2019, 11:40 AM #18
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08-24-2019, 09:33 AM #19Senior Member
- Join Date
- Aug 2018
- Posts
- 100
Haven't been in for a few days but I love this forum because you all share good insight and I appreciate it. I have been into a few others and there is more name calling and chest thumping in those forums than in here. It seems Supra/Moomba owners are more sophisticated and refined.Thanks - D
2020 Supra SL450
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08-24-2019, 07:41 PM #20
Name calling and chest puffing is a pure sign of severe insecurity and this forum doesn’t appear to suffer from that.
Sent from my iPhone using Tapatalk2021 Supra SA 400
2018 Supra SA 400 (SOLD)
Michigan