Saved, planned, got a boat- then got fired.

Do not give up yet, collect what you can and look. Things are turning around. Here in CT we are taxed to death. buy a boat private pay the sales tax when registering. Buy cigarettes online, and get a 2 year tax bill.
 
No one here knows your financial situation but I would try to manage keeping it by making the payments rather than bailing and selling it low out of fear. Seems like how you financed it the monthly payment will be more easily absorbed rather than the huge loss in down payment. But it wouldn't hurt to list it. It is a sharp boat.

No sales tax states are nice but trust me, except for Nevada and the casinos, they get their money some how. Probably higher property taxes, use or excise taxes etc. There is no free lunch!
 
Sorry to hear, and best of luck to you. Sounds like you have something to get you buy at least, and you were smart about buying. Don't let it go to cheap, but as others have said, now is the time to sell if you have to.
 
Consider talking to your lien holder of your boat to let them know your circumstances. Even though you are just getting into your loan, they may consider allowing you to pay interest only payments...most lenders will work with you because they don't want ot own a boat either.

Good luck with your search for new work.
 
Sean, We will look forward with a positive energy and hard work to the good that will come even if you sell the boat, as you have already been successful in the past.

Scottzzzy, I finally understand part of your motivation to avoid buying through a broker. In Indiana and most states I will pay 6% sales tax for any sale. If I buy from a Indiana dealer they collect the tax. If I buy private or out of state the local BMV collects the tax when I register. Hopefully the state I purchase in does not also charge a tax but I thought some did. But I will check as I look in the future.

I saw a thread about a possible change in FL boat tax law. The states have some different ways of getting the money they want but they all get it. This article has some winners and losers pointed out based on where we may live. Check it out.

http://articles.moneycentral.msn.com/Taxes/Advice/TheBestAndWorstStatesForTaxes.aspx

MM
 
Hey, sorry to hear of your dilemma. Here’s hoping you find a way out of your situation soon. Good luck!
 
Sorry to hear about your situation.

That is one of my fears in life because no company has any loyalty to their employees anymore.

I said a prayer for you.

Doug
 
Sean, Sorry to hear about your situation.
That really sucks !!. :smt021
 
No sales tax on private sales here in Georgia! I will do you one better to make your Cali skin crawl......are you ready.........no mandatory recycling!:wow::wow::wow::wow::wow:

YIKES!

(We actually pay extra to have them pick up recycling...)


When we bought our 340 I was willing to go a Summer without a boat to save me the 7% tax on a brokered boat....

That does it! I have kinfolk in GA....lots of them. I am heading down for good! Any $150K a year jobs for me there? :smt009
 
Sean,
Let us know how your experience with Ebay works out. I'm not planing on getting rid of mine anytime soon, but there are members that are thinking or attempting to sell their boats. This may be a good alternative to Craig's List, Boat Trader, broker, ect.
 
That does it! I have kinfolk in GA....lots of them. I am heading down for good! Any $150K a year jobs for me there? :smt009

That 7% savings can go towards my chartplotter!!:thumbsup:

You did not just say "kinfolk" did you??:wow::wow::lol::smt043

You are welcome down here anytime! We can sit on the porch, listen to the crick (creek), we can wittle some sticks, and drink some white lightnin'........:smt038

BTW, the $150K jobs have been divided into 4 $37,500 jobs with no benefits and part time at 39 hours.:thumbsup:
 
Sean,
Let us know how your experience with Ebay works out. I'm not planing on getting rid of mine anytime soon, but there are members that are thinking or attempting to sell their boats. This may be a good alternative to Craig's List, Boat Trader, broker, ect.

I found my last boat on eBay, and also found the buyer on eBay when I went to sell. It gives GREAT exposure for the price. Both times I contacted the seller/was contacted, and completed the sale after the auction ended but did not meet the reserve.
 
So if I understand correctly, and at times that is a problem (too many Miller Lites :smt100), you bought and sold a boat under the reserve? Buying is a good thing, selling I'm not too sure:huh:.
 
I found my last boat on eBay. Contacted the seller and the auction ended without the reserve being me. I bought the boat a few months later. I then sold the boat, by listing it on eBay. An interested party contacted me via the auction, and never bid. Came and saw the boat in person, and boat when the saw it. I sold it for more than I paid a year later. It worked for me, and I think its a great way to get exposure. Who doesn't use eBay?!
 
Again, I'm dazed and confused, but this is beginning to happen all too often! Ok, you bought the boat after the auction for less then the reserve, then sold a boat after an auction for more then the reserve or more then you paid for it? Just mess'n with yea! I for one bought mine on Craigs list but I did use eBay as a resource when looking. I agree eBay is a good resourse but I really did not fine any bargins. All the boats I looked at (Sea Ray) were going for market value or more, which I guess says alot about the brand.
 

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