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2Tuff

07 V-Ride vs. 08 VTX

07 V-Ride vs. 08 VTX  

32 members have voted

  1. 1. Which boat would you get with same monthly payment?

    • 08 VTX - 240 months
      21
    • 07 V-Ride - 180 Months
      11


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2Tuff

I have to decide which boat to get out of these two. Options on the VTX are 4 tank ballast, power wedge, heater, 340 Monsoon, tandem trailer w/swing tongue - V-Ride has the heater, 3 tank ballast, manual wedge, stereo, LCR motor, single axle trailer. The payments would be within $10 of each other - but the VTX is 5 years longer. It seems hard to pull the trigger on a 20 year loan - especially once I realized that my daughter (4 years old right now) would be graduating college before it is paid off! I have driven both - but it was very choppy out, so I didn't really get to see full potential. Would I regret getting the V-Ride over the VTX? Should I just suck it up and go the extra 5 years?

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edwin

I just can't see making payments on a boat for 15 yrs, much less 20 yrs. Which would I do? Neither

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Malibuzer

In todays economic market I wouldn't do either. I will not finance anything for more than 5 years. Except for my house of course. The amount of interest you would pay is ridiculous. Find an older used boat and a payment that you can afford and take smaller steps. A new boat is really nice to have, but in the end all that really counts is getting out and having fun. Good luck with the decision.

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Helinut

I went with the Vride. Personally I wanted a bit longer boat, but the VTX is a bit wider. It didn't make any sense to go with the VTX for more money when I felt I was getting less boat. My boat has all the options though including the power wedge so that does make a bit of a difference.

15 years aint' bad... it's just money! :) No one says you can't pay it off faster once the ball gets rolling.

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mibarefooter

It is all about your budget. You have the option to pay it off early. Heck most people never pay the boat off anyway before they get a new one.

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Cory

15 to 20 years is WAY too long to be paying for a TOY!!! Look for a 1 or 2 years old Vride. There are lots of them out there loaded with all the options. It may just be money, but money equates to retirement and financial security (these are more important than toys--even one as wonderful as a BU--and I love my BU)... There are only three things in life that justifiably should be financed: 1) education, 2) home, 3) starting a business. Everything else are luxuries which usually can be purchased within a person's budget if they don't have to have the newest and the best.

Honestly, do you really think you would have "additional" family fun equating to 5 or 10 years worth of payments over a 2 year old Vride?

Just my opinion, but I tend towards the VERY financially conservative position.

Edited by Cory

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chrisallenhogs

I'm kind of with everyone else on this. I just got a new VLX paid for half with cash and financed the rest for 15 years. I have a really low payment and try to pay atleast 3 times the minimum monthly payment. At this pace I will have it paid off in 3 years and 6 months. Boy won't that be a glorious day.

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2wayskier

I'd look at a nice used boat. I'm old but that seems like a long time to finance anything. The first few years will be all interest.

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99response

I've had 7 boats, owned all of them outright....

I think a 20 year note on a boat with a useful life of 15 years is a bit too much of a stretch. Being 21 now I could buy a boat on a 20 year note and have to make payments until I'm old like the rest of you guys!

-Chris

Edited by 99response

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Bill_AirJunky

Their pretty close to the same boat. One is a bit longer, the other a bit wider. The VTX would not fit in my RV parking space.... the Vride barely fits.

I have to agree with the others. Get a 2 yr old Vride, pay it off ASAP & don't look back.

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chadwick02

Are you kidding???? Thoes boats should not even be an option if you have to finance them for that long. Did you figuar out how much you would be paying in interest over 20 years? I'd be willing to bet you could buy 2 or 3 more new boats in that time frame with what you will spend on interest alone. Take the others advice, go with something a little more in your price range.

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Cory

Interesting how the voting is opting for the more expensive boat, but the comments are overwhelmingly the opposite direction??? I didn't vote, cause I think the survey is flawed and should include a 3rd option:

3) Buy a well maintained used Vride with only 5-7 years worth of payments.

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2Tuff
Interesting how the voting is opting for the more expensive boat, but the comments are overwhelmingly the opposite direction??? I didn't vote, cause I think the survey is flawed and should include a 3rd option:

I noticed that and found it interesting too.

3) Buy a well maintained used Vride with only 5-7 years worth of payments.

I considered this, and looked into it when we were starting to look for a newer boat. I found that it made more sense to just get the new one.

For example, I just went to boat trader online and did a search for Malibus. The cheapest V-Drive I found was an 2002 Sunscape for 25K. 5 year loan for that, at 6.5% is just under $500. Now, compared to the V-Ride I am considering, it is about 45k - 15 year loan at 7% just under $400. Like someone else said, I can always pay more - say I pay the $500. That pays it off in 10 years. Yes, 10 years is twice as long - but its a new boat, and to me, that is worth the added money.

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99response

You can keep that Sunscape going for a very long time with the $20k you end up not paying....

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2Tuff
There are only three things in life that justifiably should be financed: 1) education

My education is paid for - as is my wifes - there was no financing on either part. Daughters savings account to pay for hers is set up, and it will not be financed either

There are only three things in life that justifiably should be financed: 2) home

Yes, house is financed.

There are only three things in life that justifiably should be financed: 3) starting a business.

Business is a family business, established for 70 years, no need to finance this either.

Sure, I could take the money I will pay on a boat payment and pay down the house faster, and then save and buy the boat cash, but why? Paying the interest to get to use it now vs. 10 years from now - to me, this is a no brainer.

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chrisallenhogs

If your set on getting new I would research which has a better resale value.

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tj_in_kc

I went with the V-Ride.

i agree with everyone else, you should save till you have 10-15k in cash money, it will make you appreciate it more.

BUT with that said, i would go with the 07 V-Ride, and save 5 years of payments.

Look at them again and ask yourself if the little bit nicer VTX is 5 years of payments more fun??

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tj_in_kc

btw - the poll is simple to explain.

you see it's human nature. you always are rooting for people to go for it. watch the crowd at a game show they are always yelling at the contestants to risk it all and "go for it"

--polls on here are the same....as long as its not them making the payments...haha

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2Tuff
btw - the poll is simple to explain.

you see it's human nature. you always are rooting for people to go for it. watch the crowd at a game show they are always yelling at the contestants to risk it all and "go for it"

--polls on here are the same....as long as its not them making the payments...haha

Good point - That makes perfect sense

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2Tuff
I went with the V-Ride.

i agree with everyone else, you should save till you have 10-15k in cash money, it will make you appreciate it more.

BUT with that said, i would go with the 07 V-Ride, and save 5 years of payments.

Look at them again and ask yourself if the little bit nicer VTX is 5 years of payments more fun??

That much I agree with - and I am putting some cash down - somewhere between 5 and 10, depends on how fast and how much my current boat goes for. The numbers I put up in a previous post did not reflect that, but they were to just illustrate why I fell the way I do about new vs. used. I am leaning towards the V-Ride, heavily in fact, just wanted to see what everyone else thought about the 2.

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Bawshogg

I may have a little bit of a different opinion than most. I say get what you want. If you like the VTX get it. Life is short. You may not have to worry about making the payments if something happens(GOD FORBID). I agree that 20 years is a long time on loan, But look at it this way. What if in 3 years you are diagnosed with terminal cancer, get in a bad car accident, or something to that effect. Are you gonna be disapponited that you got the boat you really wanted? Bet not. Life is short, and you never know when it may end. Do what is gonna make you happy. Money was made to be spent. My2.

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chrisallenhogs
I may have a little bit of a different opinion than most. I say get what you want. If you like the VTX get it. Life is short. You may not have to worry about making the payments if something happens(GOD FORBID). I agree that 20 years is a long time on loan, But look at it this way. What if in 3 years you are diagnosed with terminal cancer, get in a bad car accident, or something to that effect. Are you gonna be disapponited that you got the boat you really wanted? Bet not. Life is short, and you never know when it may end. Do what is gonna make you happy. Money was made to be spent. My2.

I agree with this for the most part. Life is short and you should spend it doing things that make you happy. But this theory has caused a lot of pain for us today. The whole mortgage mess is based around this principle. "Get what makes you happy, stretch your money to the end, and if it doesn't work out someone else will foot the bill." We need to be responsible, I heard a good theory if you are financing more than 1/2 of your salary for a year on a boat it is a recipe for disaster. So if you make $100k a year you should not finance more than $50k on the boat. At the same time your mortgage shouldn't be more than double your salary for a year. Same scenario $100k salary and a $200k home. It makes good scence to me.

Edited by chrisallenhogs

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snowrider

We first owned a 1999 Toyota Epic (really great boat) and financed it for 7yrs. We really enjoyed boating and spending the family time together. It is now basically our primary recreation activity in the summer and the focus of our vacations. After a year of ownership, we decided to upgrade to a Vdrive and for a similar monthly payment could purchase a new boat with better interest rate, but longer term. We went with the VRide. Understanding of course it isn't the financially responsible thing to do, we decided to purchase a new boat and enjoy it as much as possible. We will pay it off (if we even keep it that long) sooner than the 15yr loan term. I don't regret the decision in terms of purchasing a new boat/financing etc, but sometimes I question owning a boat in general....quickly forgotten when you get out on the water and enjoy the time together! Good luck with your decision.

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Malibudude

If you're going to amortize the boat purchase, if rates are the same, why not stretch it out as long as possible. I've never made just a minimum payment though so I come from that frame of mind. I don't care others paid cash, frankly my investments are yielding higher return than I'm paying interest on the boat loan anyway. Furthermore, it’s a home equity line, which is also tax deductible. Get whichever boat fits your needs and financial situation, keep in mind the V-Ride (Old VLX) was the premier wakeboard hull from Malibu from '96-'04. I agree new boat prices are just getting too expensive which is why we purchased our new to us boat used.

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chrisallenhogs
If you're going to amortize the boat purchase, if rates are the same, why not stretch it out as long as possible. I've never made just a minimum payment though so I come from that frame of mind. I don't care others paid cash, frankly my investments are yielding higher return than I'm paying interest on the boat loan anyway. Furthermore, it’s a home equity line, which is also tax deductible. Get whichever boat fits your needs and financial situation, keep in mind the V-Ride (Old VLX) was the premier wakeboard hull from Malibu from '96-'04. I agree new boat prices are just getting too expensive which is why we purchased our new to us boat used.

Good point on investments making more! Yahoo.gif

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