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Yeah, 10% of the purchase price per year for fuel, maintenance, repairs, slip fees, crew, etc. A million dollar boat can cost about 100k per year if you use it regularly. It can be way less for small boats if you only use them a few times and trailer to your house. I have captain and cook friends that work on 100'+ yachts. They were making 100k/yr each, 30k/month budget on the credit card. 12,000 gallon fuel up with the gas truck filling the station tank while they take 2 days to top it off! Big boats are big money!
I think the general consensus is that you can expect to spend 10% of the value of a boat every year, on the boat. Depends how you use it of course, but insurance, fuel, maintenance, repairs, and general boat-related nonsense costs that always creep into your wallet. Yamahas are better in this department, especially with regard to maintenance and the very low cost associated with winterization.
Yup....that is correct for me. Your insurance cost will depend on age, insurance history, amount insured, where you live etc. Your maintenance cost could be higher if you don't do your own maintenance or damage the boat.
I don't just have a problem with boat money. I have a problem with, as the wife calls it, "everything I buy money". Whether a new firearm I spend hundreds modding, my boat, or a Jeep (Just Empty Every Pocket), my wife seems to think her pile of money should be bigger.
I don't just have a problem with boat money. I have a problem with, as the wife calls it, "everything I buy money". Whether a new firearm I spend hundreds modding, my boat, or a Jeep (Just Empty Every Pocket), my wife seems to think her pile of money should be bigger.