I got my first boat just about a year ago - and what a life changing experience it was! $1500, Sylvan 16 ft. Aluminium V Hull, with side console steering wheel, live well, 35hp merc, fish finder, trolling motor, raised casting deck on bow w/ under storage. All the equipment was from the mid 80s, but hey - it all works and the boat doesn't leak. I am in the process of upgrading it bit by bit. I've replaced the old trolling motor with a new MinnKota Powerdrive ($530), next up is a side imaging sonar ($1300 w/ maps and tax). I was dead set on getting a jon boat, but I am glad a friend at work sold me this old boat to learn on.
I funded the boat with a three week payment plan (friend from work selling it).
I'm not sure If I got a good or bad deal but the way I see it is:
The value you get out of your boat really depends on how much you use it.
With that way of looking at it, I'm doing pretty good (get it out almost every week in non ice months).
But the real story of saving for my boat started a while before that. Bought a used truck (1996 Dodge Ram 1500 Magnum V8, $7500) that took a year and three months to pay off. No sense in having a boat unless you can tow it :
When saving up for an expensive item, the internet is handy. Not only can you find good deals, you can also research it to death.