Financing or not?

Found this advice on a thread on the cruisers forum and couldn’t pass it up. Need to think about this:

scenario 1

$400,000 boat.. pay cash
$200,000 resale after 10 years
Cost of ownership is $200,000

scenario 2
$400,000 boat
$100,000 down payment
$300,000 finance at 4%
$300,000 of own cash stays in investments, and lets say you get 5% return
$200,000 resale after 10 years.

totals?
including $100,000 down, principal and interest, you would have a total of payments of $319,368 sell your boat after 10 years for $200,000 (consistent with the example above) and you would walk away with $21,662 in your pocket.

The $300,000 (of your own money) that you kept in investments with a 5% return over 10 years would now be worth $488,668. you MADE $188,668 on your investment over that 10 years!

So..
$400,000 (price of boat)
319,368 (total of payments)
– 21,622 (money in your pocket after you sell)
– 188,668 (money you made off of investments)
109,038 total cost of ownership NOT including tax credits…

No brainer…