Please share your monthly payments on SX190 for 15/20 year term

[the MfM]

Everyone is an expert when it comes to someone else’s finances. But financing a depreciating asset for 15-20 years so you can time the market and make > 10% annually?

 

[Ratket]

I looked at a new 212limited s and did the math-
Financed 55k
Yamaha 0% down 3.9% for 60 months and then 5.0%” something like that” for the remaining 120 months.

After the 60months I would of payed 24k
15k to interest
9 k to the principal
At the end of the 180month term it was 25k in interest.
Thanks but no thanks, we went used, borrowed out of my 401k, paying my self 6% interest.

I have 800plus credit, my wife is knocking on the door of 800 and the used intrest rates where just to High, and new was just as bad in our area.

 

[I_squared_r]

The idea of leveraging your credit is to be able to afford the boat, but borrow the money at a rate lower then what you can invest. If you can lock in a 3% rate on a 10-year cd and finance at 3% then sure go for it. But technically even that's not guaranteed because rates could go higher and you could have invested at higher rates. But in that case .. Inflation typically trends with the rates and now your monthly payment is "reducing" because your pay should increase.. So on and so on.. There are many variables, but at the end of the day buying a boat is a terrible financial decision. But we all must enjoy and live within our means. Go for whatever you're comfortable with.

I found a great deal on my used 2014 AR192 and was approved for 6-year loan at 4%. I'm not making greater than 4% returns on my savings, but I also don't want to tie into long term investments at the moment because I plan on purchasing property in the next few years. I also could sell the boat for more then I paid and it will more or less cover the interest and depreciation paid.

That's why there are financial advisors - there isn't a one-size-fit-all for your financial planning.