used boat prices

[shorthairsrus]

Hang in though ----

Attrition
1st time boat buyers 42%-- within 5 years sell and never buy another one
2nd time boat buyers 24% sell and never buy""
3rd - 18%
3+- 12%

Wow that only leaves me at 4%. ???

big decline in boat sales prior to the covid. Covid= people went out and bought shit like they thought world was ending. If the industry chart works like they say it does wait 5 years to buy.

 

[Slappy]

The only decent deals seem to be on boats with 700+ hours or they have evinrudes on them.:;:smokin

I'd worry more about buying a motor with 20 hours on it. You think the guy spent the first 10 hours following the break-in procedure knowing he's getting another new one next year? The offshore guys run 2500-3500 hours before repowering. 700 is nothing if you take care of it.

Evinrude powered Rangers were at a 10-20% discount 2 years ago when I was looking. Can only imagine now that they're officially done.

 

[5575]

Sweeney is dead on. They owe so much on them they can't ask any less. And if someone has it paid off and sells it for what its supposed to be worth 5 years later it is gone multiple times in an hour and its a race to get to the sellers before he sells it to someone that offers him thousands more than he was asking for it, it happens all the time!
I was amazed when I heard they were doing 22 year loans for new big sparklies years ago. We were just talking about this yesterday seeing the amount of 350 and 400 hp boats out there "counted 7 400s in three days this past weekend".
I mentioned it to my buddy and he said some of these guys are taking 30 year loans out now on 100+K boats! Uffda.:;:huh
Here's food for thought. If you bought a wx1880 skeeter in 2006 new they sold for $26,999 .
If you took good care of that boat and put average hours on it you could sell it right now this spring for what you paid for it, and it would sell quick!

I almost wonder if the prices are so inflated because they give out 10-20 year loans on boats and people only pay off 5-10K in principal in the first few years of the loan. So they need to get 75K for their 80K boat. I know i was dealing on a 2018 and the guy told me what he owed on it still, i couldn't believe it. I could buy a brand new 2021 for 4K more than he owed. There are definitely a lot of things that have drove boat prices up. Electronics can really add up, had a guy tell me he had 8K in graphs on his boat, only bad part about that is they are already 3-4 generations old and not worth 2500 anymore. Just got to pay to play or wait for the recession #$%^&>!

 

[FlatTopPete]

I understand the whole thought process behind “enjoy your money and life is short”. Honestly I do. But I also know there’s a lot of guys out there that live in a $500k house, and have a $70k diesel pickup pulling a $45k camper with a $70k boat behind it. All of it financed. Those people survive by living paycheck to paycheck.
And their kids are the ones taking out $150k student loans to get a useless degree that pays them $30k a year.

You don’t get anywhere in life by taking out a bigger loan to pay off the first loan you took out on something you couldn’t afford in the first place.

Tell me where my thought process is wrong here.

I purchased my 2007 ProV in 2007, took a 4 year loan, had a trade for a down payment. I have had all my kids spend time fishing and tubing with it, Mrs johnr and I have spend many a day enjoying our lives together in this boat. If I would have waited until I could pay cash out right for it at that time, I would now just be buying a boat, and my family would have missed this excellent time in our lives.
I would never change a thing about the sometimes foolish way I have spent my money when it comes to these things.
Life is really short, in the blink of an eye I am already 10 years from retirement, enjoy your youth.
We could afford the payment, and still have bait and beer money, it was a no brainer.

Now that I have 10X's the buying ability, I would never buy 10X's the boat, but for certain will upgrade in the near future as I will need something to carry me through the retirement years.

 

[Wall-eyes]

Like most of you have said. #1 you can pay whatever, #2 make my payment this much, #3 they don't care going backwards on a loan sell it in 3 to 5 years do it all over again, some day it will catch them. #4 look at all them new trucks pulling them gems too. Shit what did I do wrong in life DAMN. I will just wait lots made mistake and than you have to be ready to buy when time comes. I paid my kids $150 k college loan too so many not a dime. Who of you would like to come out of college with 200K debt for shit job? Plus dealers are low on products helps price too. Damn near 3/4 year to get Lund, dont know about rest.

 

[Allen]

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Your boat is worth well over 20k so now may be the time to upgrade and cash in on these resale prices!

I cringe when I see Lund boats around 2000 age when they are going for close to or over 20k, if a transom issue comes up after buying one of those a guy is screwed. I guess that’s why they say Bust Out Another Thousand!

Nah, it's worth about 13-14k to me. People may spend more than that for one, but I have a LOT of use on this one. Besides, even if a motor, transom, or ??? were to present a problem, I'd be money ahead getting this one back on the water. It's a great hull. Period...

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Note, JuanR is spot on. I can't imagine having to wait to buy a boat/4wheeler/whatever as my kids go up in in age to the point that I won't be able to enjoy it with them.

Buy what you want, within your budget, and enjoy life with those closest to you. Period, anyone who wants to examine my finances and give me BS advice can go fuck themselves.

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And their kids are the ones taking out $150k student loans to get a useless degree that pays them $30k a year.

If you co-sign a loan for an education that pays that little compared to the cost of attendance, you deserve every fucking thing you get. My kids are still a few years from college, but if they think I'm going to pay for a degree in underwater basket weaving, they will get a rude awakening.

 

[Downrigger]

THIS times 10!! It just doesnt make much sense to take out a 10-15-20yr loan on a boat or camper or some other depreciating asset. It will take years to get above water on the loan.

The reason you use a combo of cash and realistic amortization for the asset. But, with the cost of borrowing, I think you are crazy not to. I borrowed on my new boat after putting 25% down. Could have put more but at 2.99% I can make more in the market. Plus, not seeing much in depreciation.

 

[RPNLPS]

And you still have fuel to buy to run that 400 yikes! $3 diesel and $3 gas around $300 that’s a payment at the pump with couple hundred or so for truck and boat just to pay to play! Those walleye start to cost much more than a person thinks! You can definitely buy them cheaper at a restaurant but you don’t get the excitement from the catch!

 

[sweeney]

Here's food for thought. If you bought a wx1880 skeeter in 2006 new they sold for $26,999 .
If you took good care of that boat and put average hours on it you could sell it right now this spring for what you paid for it, and it would sell quick!

I bought one brand new in 08 with the 200hpdi, t8 kicker, 2 lowrance graphs, custom tarp, tandem axle trailer, and terrova and it was around 40K + tax . I upgraded graphs, and added a jackplate, and ipilot, through the years, but i sold it at a discount to a family member this spring. i figured this year i probably could have got 30K in no time at 12 years old. They are still probably one of the best all around 18 ft boats ever made.

 

[Captain Ahab]

After being south of Bismarck on Saturday, it looks like they give out $100k+ boats like Halloween candy. If I was in my 2011 621 with a puny 300 on it, I would have felt like one pathetic loser!

https://www.youtube.com/watch?v=2-CnmVVHIzU

 

[4Buck]

I bought one brand new in 08 with the 200hpdi, t8 kicker, 2 lowrance graphs, custom tarp, tandem axle trailer, and terrova and it was around 40K + tax . I upgraded graphs, and added a jackplate, and ipilot, through the years, but i sold it at a discount to a family member this spring. i figured this year i probably could have got 30K in no time at 12 years old. They are still probably one of the best all around 18 ft boats ever made.

Yep I agree. I bought a new one in 2016 before they quit making them. Mine has the 150 SHO and 9.9 kicker, tandem trailer and all the goodies. I don't think I could get what I paid for it but in this market I bet it would be close. I love it to much to sell though!

 

[FlatTopPete]

I’m just curious if it’s possible to make the same kind of memories with your family in a fully paid off $15k boat as it is in a 90% financed sparkly $80k boat? Or are the memories that much less sparkly?

 

[sweeney]

I’m just curious if it’s possible to make the same kind of memories with your family in a fully paid off $15k boat as it is in a 90% financed sparkly $80k boat? Or are the memories that much less sparkly?

If the boat was all about memories i would probably just buy a pontoon and another jetski, as the girls are at the stage where they could give a shit less about fishing. They still like to go out and reel them in for a few hours but most days they could do that in a 16 ft crestliner. For me the quality 20-22 foot boats are about fishing in the shit that most people don't even bother to fish in and doing it in more comfort and precision. Granted i am luckier than some where i wont have to finance a boat very much or at all depending on what i spend on my replacement. I honestly am just that pissed off at the thought of paying more taxes this year, that i probably won't buy a brand new boat.
This is kind of why i started this thread though, is the reason for people asking new prices for used stuff because the dealers keep upping their prices and get financing approved for longer terms to inflate their bottom dollar. Or do people really think their boat is worth what they paid for it or more just because the new boat price is higher, or do they all just owe that much on them yet. Or is it that the market demand is just setting the price on anything that doesn't have an evinrude at the high levels.

 

[LBrandt]

I remember taking my wife, Mom and Dad fishing in a 14ft Lund. Dad sat up front ,Mom and my wife one seat up from the back so I could bait hooks and put fish in the basket. I never even put my line in the water. Best of times. What I would give to do that one more time. When I think about it I smile through the tears. LB

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It aint the money its THE MEMORIES. LB

 

[SDMF]

I’m just curious if it’s possible to make the same kind of memories with your family in a fully paid off $15k boat as it is in a 90% financed sparkly $80k boat? Or are the memories that much less sparkly?

The internet seems like a strange place to work out one's own balance between finance and feelings.

 

[Kentucky Windage]

I like the idea of other people living check to check making interest payments on borrowed money. It strengthens my position. So please, carry on spending monies you don’t have.........

 

[johnr]

I remember taking my wife, Mom and Dad fishing in a 14ft Lund. Dad sat up front ,Mom and my wife one seat up from the back so I could bait hooks and put fish in the basket. I never even put my line in the water. Best of times. What I would give to do that one more time. When I think about it I smile through the tears. LB

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It aint the money its THE MEMORIES. LB

Agree 100%

My first little boat was a bench seat aluminum with a 15hp evenrude, fished the red river all summer long. I had $800.00 into that bad boy. Me and 2 other buddies had the best summer of fishing I have ever had in my life.

The progression into something nicer/newer is great, but would love to spend one more day 30 years younger with them guys fishing the shitty Red.

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I like the idea of other people living check to check making interest payments on borrowed money. It strengthens my position. So please, carry on spending monies you don’t have.........

Thats an odd assumption.

Guess quite a few of the guys posting on this thread have a great plenty of money, and spending it on what they like is their business.

I was talking personally about what I did 14 years ago, I did borrow for 4 years, I could afford it, it was worth every payment.

I think 99.9% of the American population spends money they dont have. Very few people pay cash for a home, etc.

 

[bigv]

I think there will be a huge bubble popped too when Rona is over. All these people will be back at work and have an 80k boat sitting in driveway. Or, just the opposite. Guy's job ends up being terminated forever and now he is stuck with 80k boat. Either way there will be a flood of boats out there and if you wait and play the game just right you may be able to pull a good one for a good price. I have a '15 Ranger 1880. Loaded pretty well and in great shape. However, I've always been a tiller guy and have debated going back to one. The tillers are just as much as windshield boats now days. The prices they put on a floating banana peel is crazy! How can a tiller be virtually same price as a newish windshield boat?
Secondly, I was also debating selling my pickup. I have a '14 silverado crew cab. Only 36k miles on it. Never drive it obviously. The value of that is still around $30k! So it's clear these rates are with all types of recreation and/or vehicles.

 

[Kentucky Windage]

Agree 100%

My first little boat was a bench seat aluminum with a 15hp evenrude, fished the red river all summer long. I had $800.00 into that bad boy. Me and 2 other buddies had the best summer of fishing I have ever had in my life.

The progression into something nicer/newer is great, but would love to spend one more day 30 years younger with them guys fishing the shitty Red.

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Thats an odd assumption.

Guess quite a few of the guys posting on this thread have a great plenty of money, and spending it on what they like is their business.

I was talking personally about what I did 14 years ago, I did borrow for 4 years, I could afford it, it was worth every payment.

I think 99.9% of the American population spends money they dont have. Very few people pay cash for a home, etc.

My comment wasn’t directed at anyone who has a handle on managing money they have. We are talking about different people.

 

[bigv]

Oh and let's be honest here...there are a ton of mental midgets in this country now. More so that 25 years ago. Egos are so fragile. So many spend that 80-100k cuz they're insecure. Age old Big dig issues. I know several like that. I remember as a kid going to the river many weekends a year. My dad had a nice boat those years. A yarcraft tiller with a 75 on it. That was a pretty big boat then. Once in awhile you see a 90 -150. Lord, Can't even find those nice little tillers anymore. Honest question.....is a 21ft boat really needed in the dakotas?