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Is financing half a large boat an option?

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Category: General Forums
Forum Name: The Boat Shed
Forum Description: Discuss all things boating.
URL: http://www.fishing.net.nz/forum/forum_posts.asp?TID=130454
Printed Date: 22 Mar 2019 at 7:30pm


Topic: Is financing half a large boat an option?
Posted By: FizFisho
Subject: Is financing half a large boat an option?
Date Posted: 06 Mar 2019 at 1:28pm
Im just mulling over where I will be in 10 years and buying my hopefully final boat. Im looking at a used 8m Ally, enclosed cockpit, lockup etc, also with shower and toilet for the family on vacation trips out to the barrier etc.

Now I have had a look and without the options I want Im looking at $150k plus for a 3 year old vessel non charter.

Is there an way to get a good finance rate on such a vessel?

I wont need the cash likely but potentially Id prefer my money to be making money, but if the finance is not cheaper than 10% interest Im likely to just use cash.

I could potentially get my skippers and run seasonal charters as my semi retirement option (who wouldnt want to do this). Im not sure if that makes interest rates more feasible or not.

Ive owned everything in my life boatwise, sailing to large flybridges chasing game out of NSW, but I feel a large ally trailer boat will be my end game at this point.

Thanks ahead all.



Replies:
Posted By: MATTOO
Date Posted: 06 Mar 2019 at 5:37pm
If you were to finance, why use such a high interest rate.
Surely remortgaging the house at a much lower interest rate would serve you better.

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Just cruising in a pimped old Surtees! Or my now sweetas pimped out Southern 755 HT0!


Posted By: Steps
Date Posted: 06 Mar 2019 at 6:02pm
cheaper than 10% interest

 damn haven't paid those rates since muldoon sent the country bankrupt.. 5% is a high rate these days... we are now under 4%
 8% is ave rate for the last 50 yrsWink


Posted By: FizFisho
Date Posted: 06 Mar 2019 at 10:33pm
Haha true, but with Key borrowing 100s of millions to bail us out in the GFC, then people following the housing bushfire like sheep, our country is in debt for well over billions, so imo its coming around again, as it always does.

But yes that would be the way forward. I will likely just pay cash and not buy another IP when the time comes.

I do wonder over a larger GRP as thats what Im use to but even the 9m Extreme is trailerable....

I guess I will know what is right when the time hits, but I do feel this is my end game in boats, versatile for under and above the water and I can haul it on the road.


Posted By: Moots
Date Posted: 07 Mar 2019 at 7:00am
Originally posted by FizFisho FizFisho wrote:

Haha true, but with Key borrowing 100s of millions to bail us out in the GFC, then people following the housing bushfire like sheep, our country is in debt for well over billions, so imo its coming around again, as it always does.

But yes that would be the way forward. I will likely just pay cash and not buy another IP when the time comes.

I do wonder over a larger GRP as thats what Im use to but even the 9m Extreme is trailerable....

I guess I will know what is right when the time hits, but I do feel this is my end game in boats, versatile for under and above the water and I can haul it on the road.

After reading your posts for a few years now, I genuinely cannot work out whether you are the biggest troll out or you have that many ideas, it cripples you to go ahead with any of them?


Posted By: Penty
Date Posted: 07 Mar 2019 at 7:51am
ClapClapClap
Originally posted by Moots Moots wrote:

Originally posted by FizFisho FizFisho wrote:

Haha true, but with Key borrowing 100s of millions to bail us out in the GFC, then people following the housing bushfire like sheep, our country is in debt for well over billions, so imo its coming around again, as it always does.

But yes that would be the way forward. I will likely just pay cash and not buy another IP when the time comes.

I do wonder over a larger GRP as thats what Im use to but even the 9m Extreme is trailerable....

I guess I will know what is right when the time hits, but I do feel this is my end game in boats, versatile for under and above the water and I can haul it on the road.

After reading your posts for a few years now, I genuinely cannot work out whether you are the biggest troll out or you have that many ideas, it cripples you to go ahead with any of them?

Clap Well said mate


Posted By: Bounty Hunter
Date Posted: 07 Mar 2019 at 11:47am
analysis paralysis...

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Death - Our community's #1 killer


Posted By: FizFisho
Date Posted: 07 Mar 2019 at 2:37pm
Not at all, I love talking boats. I went to Uni to learn Business so I could run a charter, which was my dream, but I ended up working in IT, whilst a good friend went on to be a naval architect. So ive owned a lot of boats of all kinds. Talking about what I am interested in isnt Analysis Paralysis, its simply learning from others who have owned a certain boat.

But this isnt a NOW boat, this is my end game boat, I hope I can at least turn it into a charter for diving, if not fishing. But I realise I need to do some more study and pass my certs. My friend has his skippers and was a GB island skipper as well as a single handed sailor to NZ from Hawaii etc for delivery of yachts. So Ive had some advice there.

A person trying to reach their semi retirement dream is just that simple, analysing which vessel will best fit the bill. I believe extreme will still be around and the 8 or even 9m trailer vessels from them best fit my variety of needs as my final boat.

Lets keep it positive :-)


Posted By: JustAnotherSpearo
Date Posted: 07 Mar 2019 at 2:53pm
Everyone knows that you start off with a 12fter and when you become a super old fart you end up with a 12 or 14fter...

Since dreams are free however, boy my final boat better have one of them fancy bilge pumps in it, nothin worse than bailing by hand with them leaky riverts.. 


Posted By: FizFisho
Date Posted: 07 Mar 2019 at 2:58pm
Originally posted by Mootsor you have that many ideas, it cripples you to go ahead with any of them?[/QUOTE Mootsor you have that many ideas, it cripples you to go ahead with any of them?[/QUOTE wrote:



Its not possible to be a troll to be discussing vessels


Its not possible to be a troll to be discussing vessels in the boat shed, thats what its here for.

I simply have owned a lot of boats and have interest in a lot of vessels for myself or friends and family.

I truely enjoy discussing naval design and appreciating different takes on boats for different applications.

I changed boats a lot, but not all I discuss are to buy myself. Its simply asking the question, what is the selling features of different vessels. Please dont take it as I want to buy every one myself or I am not sure what to buy. However this time I do want some perspective for this future rig and what I should be looking for as it will potentially be used in many different uses.

I just want to know that what I buy, being my end game, will last 20-25 years with good care and maintenance. Ive just been up north and saw a 9m boat moored and it had the controls below which helps so much with docking or mooring. Remote control etc.

I hope to have twin yamahas with the Command Link - 6YC and the new Helm Master which looks amazing for twin and triples.

https://yamahaoutboards.com/en-us/home/rigging/all/helm-master" rel="nofollow - https://yamahaoutboards.com/en-us/home/rigging/all/helm-master


Posted By: FizFisho
Date Posted: 07 Mar 2019 at 3:01pm
Originally posted by JustAnotherSpearo JustAnotherSpearo wrote:

Everyone knows that you start off with a 12fter and when you become a super old fart you end up with a 12 or 14fter...

Since dreams are free however, boy my final boat better have one of them fancy bilge pumps in it, nothin worse than bailing by hand with them leaky riverts.. 


Haha bro as a fellow spearo you know as well as I how fricken hard a 12ft tinny is to get in an out of in a choppy swell :-).

Espresso for example is living the kind of life I want to at a similar age, except I plan to be under the water more than on top and hope to have the right paper work to charter diving.


Posted By: MATTOO
Date Posted: 07 Mar 2019 at 5:44pm
Well the best of luck.

I for one do believe in research before I buy expensive toys.
Twelve foot tinny or larger.
Still love my twelve, I have sellers remorse on that one.

I find for myself I'm torn, love sailing, love a little tinny, like my current boat, but a caravan on the water, ie launch is where I'd hope to return to.
I just like being on the water and the extended time flitting around our coastline has always been appealing.

But one has only so much cash to flitter away, I suppose.
Searching for that balance now has been harder than I realised.

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Just cruising in a pimped old Surtees! Or my now sweetas pimped out Southern 755 HT0!


Posted By: Don18025
Date Posted: 07 Mar 2019 at 7:36pm
Fiz, the challenge of half share with another boat owner is how do you apportion the work. My experience one person does all the work and the other freeloads on that work.
I would suggest that you take a look at one of the shared boat ownership schemes.
Tagit operates one operation and then there is Ownaship.
Ownaship is walk on walk off and they offer modern vessels -  https://www.ownaship.co.nz/syndicate-boats/rayglass2500tdi/" rel="nofollow - https://www.ownaship.co.nz/syndicate-boats/rayglass2500tdi/
Now you may not be able to use it for charter, but the cost of participating in ownership of a nice vessel is low. That Rayglass 2500 TDI will do the Barrier and Mokes no problems.
https://www.dreamboats.com/ " rel="nofollow - https://www.dreamboats.com/  ; is another scheme.
And some financial advice;  https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11520120" rel="nofollow - https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11520120

One question have you the documented work hours to get your charter skipper's ticket. You need log books signed off by the skipper.....or do you have to get those hours up front or have to do the hours.

As you know I own a 9.4 metre launch, have an Ocean yachtmasters Certificate. looked at doing a Launchmaster ticket for charter work - and my Oceans ticket did not count ZIP. Decided to not bother as documenting all those hours by doing them is not what I wish to enjoy. And now the cost is about $950 per level of the course. -  http://www.mti.net.nz/?page_id=495" rel="nofollow - http://www.mti.net.nz/?page_id=495
https://www.maritimenz.govt.nz/commercial/certification/masters-and-deck/SRL.asp" rel="nofollow - https://www.maritimenz.govt.nz/commercial/certification/masters-and-deck/SRL.asp
So I take my mates out for the costs of the beer....then they drink mine.

Mind you the fishing has been very lean this past 5 weeks, the Missus started the house renovation and I could not leave home. But the boat is in the marina berth waiting to go.
Spearo is right having a small boat in your 60+ years is the answer based on my friends experience. I am 66.





Posted By: kitno
Date Posted: 07 Mar 2019 at 7:40pm
I've got teeth marks all over my tongue, I don't know if I can hold off any longer.

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Top 10 finish
2019 Grunter Hunter.


Posted By: FizFisho
Date Posted: 07 Mar 2019 at 10:39pm
Originally posted by Don18025 Don18025 wrote:


One question have you the documented work hours to get your charter skipper's ticket. You need log books signed off by the skipper.....or do you have to get those hours up front or have to do the hours.



Hey Don, no thats an issue I will need to resolve over the next 10 years. So i have time to spread it out.

Matoo, I hear ya, I really wanted a performance sailing cat. Looks the same inside, ie a flash apartment on water, but the weight is a lot less as the use lighter materials, so it can sail close to monohull speeds whilst retaining that luxury. Great for sailing the pacific islands etc. Minimum $350k though for a performance based luxury cat used.

For me the 12 foot tinny has always been the 14 foot inflatable rib. simply for exiting the water.


Posted By: 700 LTR
Date Posted: 08 Mar 2019 at 9:18am
Insert Tui ad here ....... YEAH RIGHT 


Posted By: FizFisho
Date Posted: 08 Mar 2019 at 10:00pm
Whats with all the negativity, I get a lot of help and fellow boat enthusiasts here and on chat and yet I get all these negative trolling comments when Im asking for opinnions on what will be a suitable vessel. After all you need to plan to have the cash for it.

I was looking at larger Aly offshore boats today, that are moored. Being someone who hasnt owned large Aly only GRP, whats the deal with electrolysis. Do you need to take it out on the hard and repaint it every couple years, does that prevent it occuring?


Posted By: Steps
Date Posted: 09 Mar 2019 at 1:41pm
Lot people come one ask learn buy fish then ask about things on for their boat gear rods etc
Other help out post up pics of how they have done so why etc from real hands on personal experience.. And what not to do for the same reason.. And why...
My grandmother used to say
If you reallywant something you WILL get.. But not if you waste your time and that of others talikg about it.
There has been a lot talk for a long time
Just saying




Posted By: Don18025
Date Posted: 09 Mar 2019 at 2:04pm
Fiz
Alloy hulls have to be antifouled if they are moored.
I do not believe they need to be if they are stored in a dry stack and used for very short periods at sea.
I am not sure how they get on with electrolysis, but they must have it sussed now as many are moored all year round. I have a 9.5 metre Senator moored next to me in the marina and he has not dissolved yet! I think that technology is sorted so it should not be a BIG worry. 
My observation is that long term immersion of out drives is still an added maintenance cost for owners which shaft drive hulls do not have.
A well setup outboard rig has the motor completely out of the water when moored in the marina. I have a neat 9 metre boat with 175hp near me, and the motor is not touching the tide at all when raised.

I used to go two years before replacing my antifouling, but with the widespread prevalence of Mediterrean Fan Worm in Auckland City marinas, I have to be more careful. Fan worm is real bad in Westhaven. Northland and Waikato Regional Councils want it kept out of their waters. So this means more cleaning and more antifoul. I try to repaint every 12 to 15 months and clean every three months (in water).
I would expect an alloy boat works on about the same schedule.

Doing a dive trip to the Poor Knights and spending one or two nights in Tutukaka (need to go in for fuel and refill scuba bottles and a good feed) 
I now need to follow Northland Regional Council guidelines  6 or 1. -  https://www.nrc.govt.nz/Maritime/Our-marine-environment/visiting-a-northland-marina-this-summer" rel="nofollow - https://www.nrc.govt.nz/Maritime/Our-marine-environment/visiting-a-northland-marina-this-summer
Experience with marinas further north is they want to see the invoice copy of the last haul out before you berth. So I now carry a copy of this and my insurance coverage on my phone which I can share with them.
Owning a moored boat is an ongoing challenge, what with biosecurity issues getting more complex and last year Auckland Council increased my third party public liability insurance requirement from $1 million to $5 million for Westhaven. 
If you are not insured you cannot use your own leased marina berth!

I am like you, would love a fast crusing cat - but to old to start a major project like that now, so will stick with my launch.  But you have 10 years on me, so start building.
http://www.powercatsnz.com/public/index.cfm?fuseaction=app.showdesign&ID=187" rel="nofollow - http://www.powercatsnz.com/public/index.cfm?fuseaction=app.showdesign&ID=187


Posted By: FizFisho
Date Posted: 09 Mar 2019 at 3:26pm
Originally posted by Steps Steps wrote:


There has been a lot talk for a long time
Just saying



Hmmm if thats how it seems I apologise, but Ill correct that now, Ive had 3 boats in the passed 4 years, none of which Ive desired to discuss as I know enough about them.

But I do like to talk about boats in general, its a passion. I LOVE boats. I also have friends and family who arent on the forum who are boaties, but I like to know what they are buying into. Knowledge is not a bad thing.

This time I have a dream I want to fulfill in the future, so this boat will be something I am discussing for purchase myself. Ive found my SRL will limit me to 12m, so the size of boat may grow but the age grow older. Which is where I will need some food for thought from others. Thanks Steps.


Posted By: FizFisho
Date Posted: 09 Mar 2019 at 3:36pm
Originally posted by Don18025 Don18025 wrote:

Fiz


Thanks Don, I have wonderful friends like yourself and many others that private message me with their thoughts on vessels.

Yes Ive seen many Allys permanently moored in Russel, I just wasnt sure if it was paint, anti fouling, or some kind of zinc coating that protects them now days.

But I do plan to buy a towable Ally so I can go West Coast and further north if needed for private use or requested charter. Who knows I may end up in KeriKeri which I adore. Its hard to not like many places north, Cable Bay is like suburbia now. People escaping Auck before the potential property bust and many retirees.
s
So Ive been in touch with Maritime NZ and have discussed the SRL and what I need to do for the 200 hours and what courses are suitable. Im almost excited that I want to give up my nice job now and live skint with my boat haha.

But Im not alone and that would get me flogged, so back to work it is for now, trying to get fit and more veggies on an already healthy diet after seeing the tragic death of Luke Perry at age 53 from stroke. My mother had one as well few weeks back but luckily it was tiny and only impacted vision in one eye.

Life is for enjoying and taking from it what makes you happy is my opionion.


Posted By: kitno
Date Posted: 11 Mar 2019 at 8:35pm
We all look forward to the day you buy a boat Fiz.
It will be the most thought-out 9m hardtop jetski, glass over alloy inflatable, moored on a trailer, trophy fish all over the deck, charter vessel we have ever seen. So looking forward to seeing it.

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Top 10 finish
2019 Grunter Hunter.


Posted By: terrafish
Date Posted: 11 Mar 2019 at 9:02pm
Would this boat do 17 knots in reverse and 21 knots with the added power of sail. I'm tempted if it does!!


Posted By: letsgetem
Date Posted: 12 Mar 2019 at 10:56am
Smudge - I think its time the snide remarks were shut down.


Posted By: SaltyC
Date Posted: 12 Mar 2019 at 12:10pm
yeah, pretty uncalled for guys!

if we can't discuss our dream boats and fishing setups in the boat shed then i wonder why you guys come here at all?


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http://www.legasea.co.nz" rel="nofollow">


Posted By: smudge
Date Posted: 13 Mar 2019 at 4:56pm
Originally posted by letsgetem letsgetem wrote:

Smudge - I think its time the snide remarks were shut down.
 
You are right of course LGE but I do understand why some may regard some of Fiz's posts as day dreaming. I will hide a few of the recent comments.


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Best gurnard fisherman in my street


Posted By: pjc
Date Posted: 13 Mar 2019 at 5:21pm
Be a shame to close as its nice being dreaming about retirement and what would suit.LOL

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water water everywhere,how many fish does it hold?


Posted By: MightyBoosh
Date Posted: 13 Mar 2019 at 5:27pm
Originally posted by kitno kitno wrote:

We all look forward to the day you buy a boat Fiz.
It will be the most thought-out 9m hardtop jetski, glass over alloy inflatable, moored on a trailer, trophy fish all over the deck, charter vessel we have ever seen. So looking forward to seeing it.

We can all dream and I'm not too keen on the negativity either, but that is funny! 

Good luck FizFisho with your search!


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World's most boring jetski "pilot".


Posted By: Legacy
Date Posted: 13 Mar 2019 at 5:27pm
Originally posted by smudge smudge wrote:

Originally posted by letsgetem letsgetem wrote:


Smudge - I think its time the snide remarks were shut down.

 
You are right of course LGE but I do understand why some may regard some of Fiz's posts as day dreaming. I will hide a few of the recent comments.


Plenty of people day dreaming especially in the game fishing forums 🤔



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