cost of owning a boat - Striper Talk Striped Bass Fishing, Surfcasting, Boating

DRUMCORPFAN · 01-03-2003, 03:36 PM

what would you guys say is the average cost you spend per year to operate your boat, (i.e gas,maint,insurance,tax ) i'm going to the boat show in providence and was wondering about the added expence of owning a boat, besides the monthly payments.

mrmacey · 01-03-2003, 04:06 PM

its how much you use it if your gonna trailer it winterize it seems it cost me 60.00 everytime i took it out in gas for truck and boat not counting sodas food ice bait ect! tow service! vhf radio,compass,ins,regis,are just to name a few of extras i didnt think of make sure you make the best deal! you want stuff thrown in compass, coast guard package, canvas, whatever you can get from them will save you in the end even if you dont use it youll have it all in all its so worth it my own little fishing platform that can go anywhere and when things are slow i pull into the coves around R I and i have a private beach to myself priceless!!!!!

Swede · 01-03-2003, 04:39 PM

I have a 21 ft Parker with a 200 Johnson. In season gas per week is 150.00+, slip is 1800.00 per yr, Insurance is 600.00 per year, gallon and 1/2 - 2 gal of oil per week is 25-35 bucks. If you keep it in a slip bottom paint is 130.00 per gal. I just bought a new 225 Ficht so that should help with gas but the motor was 12,000 bucks

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DRUMCORPFAN · 01-03-2003, 04:56 PM

sure is alot more cost to owning a boat then just the payments, thanks for the info.

Scotch Bonnet · 01-03-2003, 04:57 PM

Leo, I went the cheap route. My 21 ft Carolina skiff (boat, motor, trailer) $14k. $1500 in accessories. Gas for a 4stroke is peanuts. Oil=$0. Dock $1200 and this season I'm eliminating that expense and trailering. The down side is its not a great open water boat, but its perfect for the lower bay. The only boat cheaper to run is a row boat.

Van · 01-04-2003, 08:58 AM

In a nutshell...

They are all costly, and you always want more (size,power, accesories etc.)

The bigger it is, the more costly it is..

Just my spark plugs for a 175 ficht were 10$ a piece (X6)....

Got to love it !!!!

Jersey_Jim · 01-04-2003, 10:00 AM

I had partner for 12 years on a 22FT Grady White & we had a mooring.
You can figure easily on spending $2000/year before you untie the mooring. Add gas, repairs & all the rest to that. Count deprecation if you are so inclined ,and you can add another $1200/year. If you love it, need to be the captain and you use it..........it's money well spent. If not, get a group and charter 6 to 8 times a year. Make friends with guys who have boats and be a good buddy..Split the gas , help with clean up ,etc..........
Jim

Mr. Sandman · 01-05-2003, 01:59 PM

Don't think about the money...you will not enjoy it as much.

Boating is quite frankly not worth the money...not for the "average boater" who puts about 50-100 hours/season on the boat. If you actually figured out what it cost per hour...you would be better off taking vacations.
boats also induce many headaches as well.
So why do people do it? Its fun and when you have a great day on the water...it is really nice.

Costs go up expoentially with size. For example, to dock a 120' yacht at the nantucket wharf for ONE DAY is 4K. Plus you need to tip the dockmaster about a grand just to get a slip. However, you can keep a kayak on the roof of your car all summer for next to nothing. (2 extremes)

Got Stripers · 01-05-2003, 03:33 PM

It adds up, but if you buy right and trailer it's not too bad. Your inquiry asks about the cost of owning a boat, so let's forget about the $15000 I throw at the boat to begin with and the new 130 4-stroke which is a $231/month payment. Let's assume someone gave me this boat, the operating costs aren't too bad.

$37/month insurance
$105 SeaTow yearly
$20 boat gas per trip which is 13 gallons or half a tank typical
$10-20 truck gas per trip on average depending on the destination
$250 yearly maintenance probably would cover most stuff unless you have a lemon

So not including the monthly boat/motor payments, it's about $2,600 a year to operate. Throw in the boat/motor payments and that figure doubles, no wonder I'm always broke

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Van · 01-06-2003, 09:26 AM

Drum;

These are the reasons why there are so many 'young" boats
for sale.

People get into it thinking its like owning a car. WRONG !!!!
Once they get a look at the expenses vs. the amount of time they actually use it,,,, they're out....Boat's on the market...
This is why it is easy to pick up a young boat for short(er) $$$..

That being said, IMO there is no better way to spend a day.
I personally love the ocean and boating, and find every opportunity to get out there. Fishing or not, Alone or not, does not matter, I am out there. Its awesome to get away from the noise, get some rays, and fish if you want.

You have to really love it and be prepared for the expense.
Learn to do the maintainance yourself to help the costs.

Good Luck

179 · 01-06-2003, 11:19 AM

I will tell you my monthly expenses are about $400.00 per month over the 12-month span. This includes: payment, insurance, slip, maintenance, fuel, and the small things. Last season I put 200 hours on the boat, and numerous hours just anchored up or drifting, actual time on the boat is probably closer to 350 hours. I enjoyed it my family enjoyed it, and I found it to be very relaxing. Although it is alot of money, if you use it on a regular basis it can be justified.

I can think of a whole lot of other ways to spend $400.00 a month and none of them would be very healthy LOL...

Slipknot · 01-06-2003, 06:22 PM

When I owned a boat for three years it ended up costing me about 5-6000 dollars net a year after subtracting the 6200 I sold it for, from all the money I spent in the 3 years

not hardly worth it in my case but every boat is different and if you trailor it, it's much less expensive however you have to factor in the cost of the trailor and those expenses too.

I have to agree with what my father told me, just a hole in the water you throw money into. But I did have a lot of fun when the boat worked.

capesams · 01-06-2003, 06:56 PM

10 percent of the cost of the boat per year to maintain it.

DRUMCORPFAN · 01-07-2003, 10:16 AM

if you were to buy a boat now would you consider buying a used boat like van said, still new just for sale because of the added expense that the owner did not forsee.

capesams · 01-07-2003, 12:20 PM

like van said ,,,let the first guy take the hit, then u come along and pick up the pcs, its the only way to go....buy a new boat ...u loose.

mrmacey · 01-07-2003, 01:40 PM

but i have a brand new boat under warrenty till 2007 ive heard too many horror stories with boats i guess if your good at fixin them it would be worth looking into used i didnt want the headaches someone was trying to get rid of so i went new got an extended warrenty put good insurance on boat motor trailer hopefully i get years of headache free boating might have some down time but itll be easier on the pocket and i know after everytime out it got washed and rinsed!!! for the payment it was worth it to me!!!

19Mako · 01-07-2003, 04:09 PM

and make sure you put up a sign that says:

"THIS BOAT RUNS ON GAS NOT JUST THANK YOU"

IMO if you have a few extra hundreds a month to toss around, a boat is a great seasonal toy to have if you enjoy being on the water. You can't really put a price tag on a hobby or a passion, what's expensive for some is worth every penny for another person. IE: I think it's a waste of money when I see someone hook up a beat up Honda Civic to a point where the rims, lights, body effects, and accessories cost more than the car itself.... but to that person, whose passion is into hooking up cars........it's worth every penny.

I have a 2002 Mako that's been without problems, a 130 Honda 4stroke that's great on gas so my monthly expenses are not too high. My friends all pitch in for gas when we go out and a full tank lasts me over a week and I'm out almost everyday flying around full throttle. Some board members can attest to that.

Make sure you HONESTLY budget your finances before taking that first step into boating. Numbers don't lie, they either add up or they don't add up. Over spending is the mistake. Look at it this way, you can't take your money to your grave so enjoy life and live it up and catch a few fish along the way!

Mr. Kav · 01-08-2003, 10:01 AM

i have a 25 ft proline w/a cc with twin 150 fichts and it certainly cost me some money but the way i save money now a days is to stay away from the new boat shows. they always have something there that i would be interested in adding on to my boat.

DRUMCORPFAN · 01-08-2003, 11:40 AM

so let me ask you guys this, i would like to fish off the southshore beaches in r.i. , not looking to get out to block island just looking for a boat to fish out front , and in the bay's of narragansett. what size boat would you recommend, i will trailer this boat so i'm thinking at least 20' to get me out front of the breachways.

Mr. Sandman · 01-08-2003, 11:42 AM

whats your budget?

JohnR · 01-08-2003, 12:03 PM

New or used?

DRUMCORPFAN · 01-08-2003, 12:11 PM

i would spend under 23k, would prefer new just for the warranty factors. however i'm interested in a few of the dimensions i should be looking at for the type of fishing and waters i would be fishing in (striper's,fluke,tog) i really want a boat that i can take out in the ocean.

Mr. Sandman · 01-08-2003, 12:23 PM

I would suggest a used boat that was not used very much for value. New boats take a huge depreation hit when you buy them. And with 23k you want more boat for less money. True you get a warrenty but they are transferable to 2nd owners. Here are a couple boats that are in that range that could get you to BI on nice days and still take some sloppy weather.
There are a lot of used boats that look nearly new out there...exploit that situation for your own benifit.

The best time to buy a boat is in the fall and then winter. The worst is in the spring. So if your serious...get it in gear. A lot of sellers are more flexible when it is cold outside because not to many people will be looking at boats.

http://www.yachtworld.com/listing/yw...USD&units=Feet

http://www.yachtworld.com/listing/yw...USD&units=Feet

179 · 01-08-2003, 12:32 PM

Drum,
A quality 17-18' boat would be fine for what you are looking to do. It also would be very easy to trailer.

DRUMCORPFAN · 01-08-2003, 12:46 PM

thanks again guys, you've been very helpful. now one more question about financing, are the rates anywhere near what they have done in the car market.

Team Rock On · 01-08-2003, 07:18 PM

Usually the way it works is the more you borrow the lower the rate. Here's an example....http://www.suntrust.com/personal/Loans/Marine/rates.asp

some lenders require a certain length of loan, like the 10 year loan I was "forced" to get on an outboard, but there was no penalty to pay off early. You have to shop around and you can "play" the best rate you find against the dealers rate. Many times they will match it and save you the hassle. They don't like it when you leave to find financing because most likely you won't be back.

Team Rock On · 01-08-2003, 07:24 PM

This is a good calculator. I think I hit it over 100 times last winter while negotiating for my new boat....http://www.bankrate.com/brm/mortgage...page=calc_home

Bill L · 01-08-2003, 09:00 PM

Leo, check out the 18-foot (or 20') Maritime Skiffs or 18' Lema Skiffs. Both of these would be great for inshore fishing in reasonable conditons. Light hulls so that they'll perform well with a 90hp, and will be easy to trailer and handle. Somewhat "no-frills", but they are on the cheaper side to maintain and good fishing boats.

Trayder · 01-08-2003, 10:06 PM

When spending money on a boat try not think about how much it costs you, It is hard to explain what I am saying in text but you must understand it is hard to quantify, monetarily, the enjoyment a boat can bring you, on the otherhand a boat can be a PIA if you let it.

There will be some great deals at the Prov. boat show do not forget to check out the Scouts at Viking Marine, They have a real nice yellow one there.

mrmacey · 01-09-2003, 07:34 AM

in my head about my first year with boat i thought about what i would have done different i would have done what your doin here ask alot of questions before heading out find out alot of info on types horsepower size i think right now i have the perfect size for my first boat easy to trailer and launch by myself i went with cuddy thinkin about wife and kids you know nappy time!! my wife and sister used that cuddy alot they think fishing is boring but i if i want to stay in a harbor over night i can i have that option i like canvas when its cold or raining i sit under it and can eat a dry sandwich some pepole dont use it or when that sun isa blazing i got shade i would have gone with the 5.0 instead of small one i think everyone wants more power but you got to love the economy and it gets me here and there quick enough there are so many factors to go into a purchase you could sit down for a week with 10 pepole on all the different styles pepole have in there minds as of a good fishing boat for you but the main decision is up to you just put all your factors together and if you got family factor them in on the decision what they would like to sometimes out there you might just want to play have that capability really put some thought into it for years of enjoyment!!!!! good luck and happy boating!!!