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That is why we still use a 98 Bayliner Capri 1950... bought new and used for a few years, then sat neglected while I was deployed and stationed elsewhere. Brought it back to life with a carb rebuild, new gimble bearing and bellows and fuel pump. It isn't pretty but it floats and goes. Does great for an evening cruise on the lake or towing the kids on a tube. No payment and only maint costs makes a boat affordable.Just finished (I hope) bringing a 16 ft 1980 Vanguard (1999 outboard) to safe running order, as well as outfitting it for mooring in a marina. Rebuilt carbs, bilge pump, new batteries, new fuel line, voltmeters, mooring cover, bumper attachments, reupholstered rear seats and a removable boarding ladder. Of course everything you need to work on is either under the front dash and/ or closed bow, in the rear bilge area or under the gunwales....and the scratchy, roughly finished fiberglass in those areas.
The $1000 for everything is a bit of a joke, but it's not far off. I probably spent $3500 CDN on a boat that I bought for around that in 1994. Oh well it does the job and cost a lot less than a newer used one.