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How did you fund your boat purchase?
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Poll Question: How did you fund buying your boat?
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tgruitt View Drop Down
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    Posted: 31 Mar 14 at 2:55pm
Originally posted by yellowwelly

5 grand...

It's the difference between the basic and the sport model of a horrendously depreciating asset like a family motor vehicle.  

It the difference between negotiating and buying off list when renovating your kitchen and bathroom(s).  

It's a term's fee at Warwick School

You can earn 5 grand working weekends on tables (waiting, not dancing) and it won't take 'that' long- especially if you cut back on other expenditure whilst doing it.

Not so long ago you could make 5 grand trading boats - especially Lasers. 

It's a family holiday budget if you stick with school holidays.

It's a crappy plastic conservatory to read the Observer in... 3 months of the year- the rest of the time it's too hot or too cold to be usable real estate.

5 grand.... it's a brand new RS Aero - lovely and shiny with full warranty rather than a shabby Solo which although well built, lacks the feel good factor of virgin epoxy.

It's less than £200 per month even with a sh*tty APR over three years....  RS even offer finance in house, no idea on their APR by the way.

It's not buying carbon push bikes or expensive clothes or meals out or beer and fags.....

It's all life choices mate.  And bottom line, taking a fair loan to buy a boat, hell yes, I would if I wanted to, there are far worse ways to waste your money.


Or half a good camera lens...
Needs to sail more...
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JimC View Drop Down
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Posts: 6662 		Post Options Post Options   Quote JimC Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 3:42pm
Originally posted by tgruitt

Or half a good camera lens...

Don't... that's a luxury toy I'd like to be able to justify to myself...
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jeffers View Drop Down
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Posts: 3048 		Post Options Post Options   Quote jeffers Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 3:53pm
Nice to know some people see 5 grand as a trivial amount of money.

The most I have ever spent on a boat was when i purchased a new Laser some years back. It was just under £4k, I got a good deal on it.

Now I would struggle to justify that expense on anything let alone a weekend toy for my pleasure.

My current car cost about £5k, that was an essential as the old one was on it's last legs with a big engine bill round the corner, no car, no job for me!

My current boat was £1250, but after selling my old boat and various extras that came with the new boat the real time cost was about £50 (which I could justify).

You will likely find that a large proportion of club level sailors are of the same ilk as me and just do not have the disposable income to spend thousands on a new boat. This is why some classes where old boat can still be competitive with a £500 ebay special are always going to do well. 

Waiting on tables at weekends is not an option for some, working full time and with family commitments.......
Paul
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transient View Drop Down
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Posts: 715 		Post Options Post Options   Quote transient Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 4:05pm
Originally posted by tgruitt


Or half a good camera lens...



.....or the amount Bill Gates earns whilst doing a jimmy.

or the amount someone on min wage earns in 4 months.

Edited by transient - 31 Mar 14 at 4:11pm
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yellowwelly View Drop Down
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Posts: 2003 		Post Options Post Options   Quote yellowwelly Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 5:58pm
Originally posted by jeffers

Nice to know some people see 5 grand as a trivial amount of money


I don't see it as trivial- it's the cost of the product and represents a fair price IMHO. but I'd see the £400-600 in interest to buy a 5 grand boat now, rather than save up and probably pay more for it through natural price increases anyway , as a bit of a moot point.

If I wanted a new boat and I could afford it- I would buy it. Whether it's through saving or loan would depend on the APR- at the moment, consumer credit is reasonably cheap.
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craiggo View Drop Down
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Posts: 1810 		Post Options Post Options   Quote craiggo Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 6:54pm
This subject is a tough one at most clubs. I would say that the average cost of most of the dinghies in our dinghy park is less than £1000. When you tell people how much a new boat is, they look at you as if you have gone mad. Of course the large bulk of boats never go out on the water and the ones that do probably average around £2-4k. I have to say I'd struggle to justify any more than £5-6k on a new boat but then I have never bought a brand new boat and probably never will. It's a strange situation when boats at the end of the slip cost less than your tiller extensions!!!!!
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yellowwelly View Drop Down
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Posts: 2003 		Post Options Post Options   Quote yellowwelly Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 8:14pm
Originally posted by craiggo

I have to say I'd struggle to justify any more than £5-6k on a new boat


Yep, I can relate to that- it's about the limit I'd put on a singlehander currently at my stage in life. Any more just wouldn't feel comfortable these days- not so much extravagance but just choices and value judgements.

I'd spend A little more for a double hander to sail with a family member, but that's not likely for a while and I'd spend more if I were retired- assuming I could afford it that is. But not now, not any more- that's why I personally think the Aero and zero smash the whole dinghy development thing out the ball park- Good luck to both!
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The Moo View Drop Down
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Posts: 809 		Post Options Post Options   Quote The Moo Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 14 at 9:34pm
My first boat, a Cherub, was funded back in the 70s with an insurance compensation payout. I was awarded the princely sum of £250.00 for having my head pushed through a windscreen of a mini that I was a passenger in that left the road and hit a tree. (Seatbelts seem such a good idea now)

IIRC that experience was a lot more painful than spinning round the forestay of said Cherub learning how to trapeze.

As an aside I think James is missing a trick. This is the first thread he might legitimately introduce the word "spreadsheet" without pissing the whole forum membership off.
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Blue One View Drop Down
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Joined: 09 Nov 13
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Posts: 317 		Post Options Post Options   Quote Blue One Quote  Post ReplyReply Direct Link To This Post Posted: 01 Apr 14 at 12:10am
Originally posted by yellowwelly

5 grand...

It's the difference between the basic and the sport model of a horrendously depreciating asset like a family motor vehicle.  

It the difference between negotiating and buying off list when renovating your kitchen and bathroom(s).  

It's a term's fee at Warwick School

You can earn 5 grand working weekends on tables (waiting, not dancing) and it won't take 'that' long- especially if you cut back on other expenditure whilst doing it.

Not so long ago you could make 5 grand trading boats - especially Lasers. 

It's a family holiday budget if you stick with school holidays.

It's a crappy plastic conservatory to read the Observer in... 3 months of the year- the rest of the time it's too hot or too cold to be usable real estate.

5 grand.... it's a brand new RS Aero - lovely and shiny with full warranty rather than a shabby Solo which although well built, lacks the feel good factor of virgin epoxy.

It's less than £200 per month even with a sh*tty APR over three years....  RS even offer finance in house, no idea on their APR by the way.

It's not buying carbon push bikes or expensive clothes or meals out or beer and fags.....

It's all life choices mate.  And bottom line, taking a fair loan to buy a boat, hell yes, I would if I wanted to, there are far worse ways to waste your money.

I'll let you into a little secret James, that I don't think will surprise you. 

I have never spent 5 grand on any of the above.  LOL
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yellowwelly View Drop Down
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Posts: 2003 		Post Options Post Options   Quote yellowwelly Quote  Post ReplyReply Direct Link To This Post Posted: 01 Apr 14 at 7:36am
disappointing... I thought you'd have at least given the table dancing a go.

@Moo... LOL, spreadsheets still have no place on opinion forums  ;-)
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