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My wife and I are thinking of selling our 2002 VLX and moving up a few years in boats. My question is this: we currently own our boat outright and have had no issues. It is scheduled to go into the upholstery shop for a complete new interior on Tuesday since the desert heat has killed it. So our options in about a month are to:
A. Sell it while the value is strong, pay off about 6k in credit card debit and use the rest for down payment on newer boat and savings.
Or
B. Keep it, gamble on the value and any issues due to aging, and continue paying off the cc debit.
My feeling is to get rid of the revolving credit debt and even though we'll have a payment on the newer boat it's a non-revolving credit item. Yes the value may go down but we're looking at 2006-2009 region so most of the value hit has happened.
Thoughts?
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