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The average boat owning idiot.
The average idiot buys a boat for say 100K and finances it for ten
years. He fits it out and keeps it in a slip. The fitting out costs 20K, the slip costs 5K per year, the insurance costs 1K a year. Haulout for bottom paint 1K a year. Fuel 1/2K a year. After ten years the idiot has spent 250K paying back the loan, 20K fitting out, 50K slip fee, 10K insurance, 10K haulout, 5K fuel, oil, filters, etc. 345K invested in a 100K boat that perhaps can be sold in ten years for 75K. Net loss of 270K. You pay 27 thousand dollars a year to use your boat a dozen or so weekends a year. Stupid, just plain stupid! Think about it. Wilbur Hubbard |
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