What Does it Actually Cost to Own a Ranger Tug?

[Submariner]

But for people considering buying a boat I believe 8-10 percent is a great number to use as annual cost. I am saddened when I see boats purchased and sold early due to ownership cost higher than owner could afford.

This was why I published this. I hoped I could help others better understand the complete picture of ownership. I do my own upgrades, I do most of my own routine maintenance, both which result in a substantial savings. I have a boat loan with a great interest rate, and I've had pretty much zero depreciation (2021's are selling used today, for about what I paid new in 2020). Crazy times we're living in today. Dave Ramsey would be proud... Not! Ha!

 

[Submariner]

There is no rational reason to own a boat. A boat isn't a basic necessity.

That's crazy talk! Ha! 😀

 

[Mike and Sarah]

This was why I published this. I hoped I could help others better understand the complete picture of ownership. I do my own upgrades, I do most of my own routine maintenance, both which result in a substantial savings. I have a boat loan with a great interest rate, and I've had pretty much zero depreciation (2021's are selling used today, for about what I paid new in 2020). Crazy times we're living in today. Dave Ramsey would be proud... Not! Ha!

Ha ya know Dave Ramsey has owned Master crafts for 25 years so it must be ok.

 

[NorthernFocus]

I remember hearing this one years ago when I was still sailing:

"Sailing is like standing fully clothed in a cold shower and tearing up hundred dollar bills" - Unknown

On the other hand:

"Believe me, my young friend, there is nothing - absolutely nothing - half so much worth doing as simply messing about in boats." - Kenneth Grahame

 

[mik]

Don’t forget to add in either opportunity costs or finance costs to that total. Given opportunity cost of capital at 4% for MM/CD rates or 6% for financing (less 2% finance charge income tax savings) on a $200K boat that’s still adding $8K to the true cost of ownership.

Recreational boats are not an investment; that's not why we bought them. There is absolutely no justification from a financial perspective. Sure, we all do what is within our capability to do in order to lower the cost of ownership. Bottom line, we all bought our boats because we wanted to; we like them; we enjoy them, we create memories. You can’t put a price on any of that. I applaud anyone that puts forth the effort to try to summarize the cost of their experiences so others with less experience can get an idea of the true value of boat ownership.

 

[Mastercraft]

NorthernFocus said:
"Sailing is like standing fully clothed in a cold shower and tearing up hundred dollar bills"

It's ironic because that's what a bad divorce feels like!

 

[Submariner]

Since this thread has grown and the original post is buried, wanted to resurface this for anyone who missed it.

Six years of real ownership data on our R27 — fuel, moorage, insurance, maintenance, and upgrades broken down year by year. Includes our 2023 Alaska trip where we spent $12,000 on fuel alone. 1,000 hours on the engine. The guide is free:
Free download

What Does It Really Cost to Own a Ranger Tug?

csurf.co

We also published a full video on YouTube in conjunction with the above free download.