Gogarty wrote:
Can't speak from personal experience here. My philosophy is that if you
can't pay the full purchase price for your boat in cash at closing, without
borrowing, don't buy it.

That would limit most of us to a pretty small boat. Pay cash for your house
and car too? Debt has its uses. They don't call it "leverage" for nothing.

I'm not in expert in this, but I would think that "leverage" is best
applied to assets that appreciate, rather than depreciate.

Buy a house with 5% down and you win big when the value doubles.
Buying a boat with 5% down is a formula for disaster.