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If he wants to purchase that boat with a loan, that's his business.
We put off buying our Mac for a few years until we thought we could better afford it. When my wife was diagnosed with breast cancer, suddenly our priorities changed. We took that loan, and have not regretted it.
It's been three years now, two since we took the loan, and when I look over and see her reclined on the port seat cushion without a care in the world (even at a 35degree tilt) that boat is worth every penny!
Hey.... I'm just offering advice. Everyone's situation is different. If you look at the debt level of the average consumer it is generally good advice to tell people they shouldn't borrow money for things that depreciate in value.
I could be hit by a truck tomorrow and never get to enjoy sailing. If I lived my life with that outlook I'd be broke, my kids wouldn't have a place to live or an education and other people would end up paying for my excessive behavior. There is some kind of middle ground though. You can buy a smaller boat or an older one in good shape. With a combination of saving until you have the money and making a wise financial decision about what you can afford, you don't end up leaving your kids with excessive debt when you get hit by the truck. All of us our going to die. Buy the Mac…. but do so in a wise manner.
