(Closed) Is it fair to ask my FI to sell his boat? (kinda long sorry)

posted 7 years ago in Emotional
Post # 3
Member
743 posts
Busy bee
  • Wedding: June 2012

Well, I don’t think going into debt for one day is a good idea, so if selling the boat is the only other option……  BUT, depending on your region, you may not get “top dollar” for you boat right now.  I used to live in Tampa, and everyone was trying to sell their stuff to make ends meet in this crappy economy – so there were a lot of boats on the market and not a lot of buyers…..I can see your Fiance wanting to hold onto his boat right now because he might not get what it’s worth.  You mentioned that you are already cutting corners – instead of nagging him about the boat, ask him what he is/can be doing to save money for the wedding – maybe there are other options??  Good luck!  

Post # 5
Member
2821 posts
Sugar bee

Perhaps you should try for the discussion to be more open ended.  Say you would prefer not to take out a loan, what are ways you guys can come up with the money.  Maybe selling the boat isn’t the only option or he’ll realize it’s a fine option once he tries to come up with the money elsewhere.

Post # 6
Member
177 posts
Blushing bee

I’m in the Northeast, so I could tell you that everyone selling in the fall up here is just trying to dump their junk so they don’t have to winterize and/or repair it. Usually, your best shot at selling is in the spring. If your part of Texas is warm year round, it might not be the same story. I know what you mean though. When money is tight, I try to think of what I can sell!

Do you think people will send you cash gifts for the wedding? It might not be horrible to throw some stuff on a credit card if you expect to be able to pay it off semi-quickly.

Good luck!

Post # 7
Member
295 posts
Helper bee
  • Wedding: October 2010 - The Atlantic Beach Club

I was in a similar situation with Mr. Starfish. When we first started planning, we assuemd we’d pay for it ourselves. Mr. S has a sports car he works on that he’s driven about 5 times in the 7 years we’ve been together. I did mention selling it to him once when I was stressed, but it meant a lot to him. Now that the wedding is over, I’m happy he didn’t sell it. I can totally see where you are coming from, since I initially had the same though.

I know money is tight now, but if your fi loves it, I would recommend talking to him about others ways to save. If he bought it three years ago for $3,000 he may not even get close to that now. Mr. S comes from a boat town and boats aren’t selling as well as they used to because of the economy. Is there anything else you can do? I know Mr. S worked longer hours to help pay for things, as did I.

Post # 8
Member
3526 posts
Sugar bee
  • Wedding: August 2010

I totally hear you on selling the boat. BIL has a boat for approx that long and we have gone out on it approx 5 times in that span. And the only reason why I relate is it has sat on our driveway immobile for 2 summers.

I do think though however, right now, since it’s not the season for it is not a good time to sell. A good time to buy but not sell. I would consider selling after the wedding before summer to get the best price!

Post # 9
Member
7509 posts
Bumble Beekeeper
  • Wedding: November 2010

That seems to be the story with everyone I’ve ever known who has a boat–they end up rarely using it.  I suspect that unless you live on the water, it makes more $ sense to rent them.

I would not consider taking on debt if there is a non essential asset sitting around collecting dust.

 

Post # 10
Member
2889 posts
Sugar bee

I would try to avoid a loan as much as possible. Have you thought of having a wedding on a beach close to home? That would save you the cost of his parents flight and hotel which is prob close to what he could get for his boat anyway, if not more. Also,  you can go to Mexico for your honeymoon. I know it may actually be cheaper for you to have a destination wedding depending on the resort and if you need to pay for food and drinks, etc. but maybe consider staying closer to home if you can find a cheaper venue and then Fiance can keep the boat.

Post # 12
Member
10367 posts
Sugar Beekeeper
  • Wedding: September 2010

Boats are a huge money sink, and if you aren’t using it on a regular basis, even more so. I think that’s fair, especially since he already agreed to it. It sounds like you guys haven’t had a very candid discussion about it – and you need to. You need to know his real feelings on the subject and why he is hesitating.

Also, a loan for wedding expenses = horrible idea. If you can’t afford it, just don’t do it.

Post # 13
Member
10367 posts
Sugar Beekeeper
  • Wedding: September 2010

@HoneyBear: We had some savings already that we used for deposits, and then we paid throughout the year we were engaged as we had the money. No debt. WEDDINGS ARE NOT WORTH DEBT.

Post # 14
Member
743 posts
Busy bee
  • Wedding: June 2012

@Honeybear – we are saving, saving, saving…..and we pushed back our wedding 12 months so we would have more time to save.  We have a really tight monthly (household) budget, and I won’t lie, it kinda sucks….and I really miss our pizza and wing nights (sigh). But for us, its either give up our “extras” or just have a courthouse wedding…..most days we are OK with giving up the extras Smile

Post # 15
Member
111 posts
Blushing bee
  • Wedding: April 2011

@HoneyBear: We are in the same boat (excuse the pun) and are paying for our own wedding. I drafted up a budget of all of our income and all of our debits…right down to gas for our cars, groceries and etc. I figured out just how much we could afford to send our vendors every month. We absolutely don’t put it into savings because there is a chance one of us might decide we really need those new tires or to get our nails done. If it is already spent and sent to the vendors, we manage to stay on our budget.

Just a thought…

Post # 16
Member
6661 posts
Bee Keeper
  • Wedding: May 2010

I can see where you’re coming from, but if you weren’t trying to pay for the wedding you probably wouldn’t have thought twice about selling the boat so I’d drop the issue if I were you. You don’t want to feel bad about it after the wedding and you don’t want any resentment lingering.

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