i had two close friends of mine go in on a boat together. while the one owner got picked to go out of town for work for 3 months, he counted on his partner (and friend of 8 years) to make the payments while he was out of state. he even sent him $$$ but the boat got repoed and the freindship is shot.
When I was 19 I bought a boat with my best friend (the boug) who is still my good friend today. Although there was times during the "ownership" that could of easily ended our friendship. The boat need repairs and he didn't have the money so I ended up paying a larger percentage of the cost over time. With the plan that when we sold the boat I'd take a large amount of the sale price. Which did end up working out....we never keep dollar amount but just agreed on something that we both thought was fair in the end. Overall I'd have to say looking back on it was well worth it. It got us out on the lake and we shared some really good times. (the stories could go on and on
) I just wish that there was a website like this back than. I'm sure I would of moved up in boat instead of out. Now this kinda goes against what I just said but I would not do it today. Back than we weren't dealing with a large amount of money. Just a couple of thousand. When I buy another boat I'd like to get a nice one which as you all know cost a lot of coin.
Rule I have is to never do business with friends or family just causes problems. And buying a boat together id think would cause some problems. My .02 anyway, Find a nice small used one and ask hazy to check it out.
QUOTE(bobrob @ Jun 3 2004, 04:23 PM)Rule I have is to never do business with friends or family just causes problems. And buying a boat together id think would cause some problems.
That was always my rule too Bob. It did end a friendship with me years ago over money. If you two have a complete understanding and idea of all the costs, and a good friendship to start, go for it. You only live once.
I wish I could settle for a nice small used one! Believe me! My last boat when I was married was a 1995 29' dancer. It would be hard to go smaller than that. All though I'm sure that is a nice small used one to alot of you peeps out there!
I would, then put a large life insurance policy on this friend, then when they are out drinking, they could acidentally drown, then you can pay the boat off, and name it after your friend.
otherwise, I wouldn't do it, it would be a huge strain, not filling the tank, not cleaning after use, scratches, just to many things to go wrong. it would be a good idea, unless you think you could both be on the same level with it. some people are very specific.
it would have to be a goooood friend to even attempt something like buying a boat together. I thought about doing it with my brother and couldn't bring myself to do it. who gets it when? who pays for repairs? for example you have to work and your friend takes it out and the drive goes
. Just seems like too much strain on a relationship to me. my.02
Actually my friend and I are looking at buying a go-fast together. He just sold his boat (same as mine) and is looking at bigger and larger yachts.
We both love go-fasts and have our own boat business' so buying one together seems like a good option for us. This wouldn't be our main boat but just a toy to burn some fuel on weeknights or hit PIB in an hour. We wouldn't be fighting over who gets to run and use each weekend.
After having Mike and Rob's Cigarette parked next to use at PIB last weekend, and seeing the other Cig's pull in for the day, we have narrowed our search for a used Cig
Going in a pleasure boat that each of you want to use each weekend could cause problems. But if everything is planned in advance, it could be a good option to get more boat than what you could afford alone. Work out all the details on paper first!
Chris and I bought our boat together, I think we were about 20, it was a long before we were married. He was a life long boater but I wasn't. It worked well for us since I had a lot to learn. We put our money together for every expense.
When I was 20 I bought my first boat with my friend. A few years went by and he used it less and less. I used it more and more. I felt bad to the point where I ended up buying him out. It worked for us, it was really no big deal.