How do you afford these boats

[G_Anders]

Thanks for all the replies

[G_Anders]

One quick thing what price do I negotiate off of, the MSRP or the dealerships price? The boat is a 2007 VLX for $57K (Retail $63K) with the following options

Monsoon 340hp ($1250.00)

Pop up Cleats ($188.00)

3 outlet Heater ($438.00)

Malibu launch system($428.00)

Wedge Complete (polished $813.00)

Hull Base color ($750.00)

Depth Finder ($249.00)

Water Cooled shaft Seal ($63.00)

Sunbrella Cover ($556.00)

Sony CD with Rockford Fosgate ($1594.00)

I hope someone can fill me in on the details

CHEERS

[wahoo]

One more thing... you need to know up front what it costs to enjoy this boat. These are some average figures for a new boat and related costs in my area:

Payment - $450-$500 per month for a new Malibu

Storage - $50-150 per month

Insurance - $50-75 per month (mine is $590 per year for a $45K agreed value policy and I have to pay it one year in full)

Gas - $500-$700 during the months you're using it. $650 buys 5 tanks of gas for my VLX at $2.90 per gallon

Maintenance - You can expect at least $300 per season for services and winterization plus the neglible costs of cleaning supplies

Misc equipment such as ropes, boards, bindings, life vests, floats, .... varies but I spent about $1500 on stuff when I bought the boat.

So you really need about $1000 - $1200 per month of disposable income in the summer and about half that in the winter to really enjoy having this thing.

[chathamsolutions]

You NEED all those things you listed, and more. If you're in the west then you might not need/want the heater. You can not do the stereo and install it later yourself. You'll save the $1500 and get a much better system if you spend that same amount on aftermarket stuff.

You're looking at 10% off MSRP. That's a fair price. If you can negotiate more than that, then your even better. The sure way to do this is follow some of the advice already given here. Find used, wait even longer in the season - for a day at the end of the month, when it's raining But right now, you're in the thick of the season. You need to wait another month plus, especially if you're in the 'W'est. Our season lasts quite long.

The individual prices mean little to nothing. You should negotiate off the entire price. Remember, there's much more to a boat purchase than the purchase. Make sure you don't make your dealer so mad that he won't give you good service when you need it. Having a happy dealer will mean he'll put you at the front of the line when something goes wrong.

Just food for thought.

[chathamsolutions]

Check out this list:

http://www.themalibucrew.com/forums/index....p;page=gearlist

[wahoo]

If you're buying the boat he has in stock you're likely stuck with the options whether you want them or not. You're getting ripped off on the stereo but it came that way from the factory with thier outragous price for it so what are you going to do? The dealer probably will not pull it out and delete from the price. I paid some outragous amount of money for the even worse all Sony stereos they were putting in the in 05' and have since replaced it all.

I haven't priced new VLXs this year so I can't really help you out too much. I assume that price includes a trailer?

I would ask them to throw in the first two services. If they have a good Pro-shop you may want to consider asking them to roll the price of stuff like ropes, vests and wakeboards that you want it into the price of the boat. These things may be cheaper though online but it doesn't seem to bite as much when it's rolled into the loan.

You should be able to find 2005 VLX in the low $40K's by the way and some will still be under warranty into next year or even longer with an extended warranty.

[G_Anders]

chathamsolutions,

Do I try to get 10% off the $57K or the MSRP ($51K) of the boat itself. I'm confused please elaborate altille more. Your help is much appreciated believe me when I tell you this!

[doughickey]

Your profile suggests you don't own a boat.

If this is your first boat, you are NUTS to buy new. I don't know anybody who ever nailed it right buying their first boat. Until you own/use one, you don't really know how you will REALLY use a boat. Most likely you'll need more or less room, more or less power, etc etc etc. Buy used first time out.

Buy with a friend??? Another knucklehead option. What happens when said "partner" gets a bunch of buddies or girlfriend that don't want to be as compatible with you. Disaster. Spend less and buy used solo.

"Use your Dad's or a friends???" Hmmm, I wonder who made that suggestion..... Again, it's nice not to be a User..... buy your own, and don't sponge off of others. Pride of ownership counts for somethng here. Buying used cuts the price way down.

Most Tournament/Ski boat owners (not all..... but most) really baby their boats. Shouldn't be hard finding a used boat in fantastic shape.

Used used used!

[RTS]

I don't know anybody who ever nailed it right buying their first boat. Until you own/use one, you don't really know how you will REALLY use a boat.

I did...walked onto my dealers lot and picked up a Sunsetter LXi classic, and a demo (with appropriate discount) to boot. Later research (and 4+ years of family fun) proved the decision to be the right one!

But seriously, I'd agree with Doug the used boat, especially if you are suffering from sticker shock right now.

And 10% off MSRP is a pretty good deal, especially considering the time of year. You could probably look for closer to 15% of MSRP during the off season.

[chathamsolutions]

chathamsolutions,

Do I try to get 10% off the $57K or the MSRP ($51K) of the boat itself. I'm confused please elaborate altille more. Your help is much appreciated believe me when I tell you this!

10% off the MSRP. Meaning, add up all the sticker prices - take 10% off and that's 'usually' what you'll pay. There's more room in the margins, but much like a car, you've got to find the right boat, at the right time of year, and the right dealer in the right mood, etc.

It appears that's the price the dealer has already given you.

If you want a better deal then buy used. The end of the season is coming fast and there will be many people who's boats sat in their driveways for far too much of the summer. You may even know someone like this - make them an offer.

[goochy]

I work , wife works, no kids , we do not drink, smoke, or waste alot of cash.. we spend ALL of our money on the lake !!!

We started out small , Bayliner, then bigger, bigger ,1995 Mastercraft, then a 2001 VLX leftover, then 2005 LSV , now a 2007 LSV . Keep them showroom at all times, and sell high !

[jessem]

"Misc equipment such as ropes, boards, bindings, life vests, floats, .... varies but I spent about $1500 on stuff when I bought the boat."

I wish it was that cheap! Heck one board with bindings can cost upwards of $900.00.

[bigD]

I know there pricey, but if it's seems like alot or too much maybe your better off for now with a different type of boat.

Me, I sold a 1931 Ford 5 window A coup, just a driver and a 1970 Chevelle that I had and heavily modified and worked on over 13 years.It was cherry.I could only afford one large money pit hobby at a time. I sold that stuff and had just about $30K cash when I orderd my 04 in July 03. the rest will be paid off next year at around $300 a month.

[electricjohn]

Saved up most of my life. Always wanted an inboard ski boat. Then started waiting as improvements came about, better wakes, nicer interiors, then fuel injection. Finally in Nov. '02 I took the plunge and ordered the boat, the way I wanted it. No regrets, other than not moving sooner. Could have brought a Nautique in '87 for $12k, (listed for 18k), but thought that was too much money, little did I know. The wife and I have been kicking ourselves since. Got a good deal on the Bu though.

Edited August 20, 2007 by electricjohn

[Dan P]

Your profile suggests you don't own a boat.

If this is your first boat, you are NUTS to buy new. I don't know anybody who ever nailed it right buying their first boat. Until you own/use one, you don't really know how you will REALLY use a boat. Most likely you'll need more or less room, more or less power, etc etc etc. Buy used first time out.

Buy with a friend??? Another knucklehead option. What happens when said "partner" gets a bunch of buddies or girlfriend that don't want to be as compatible with you. Disaster. Spend less and buy used solo.

"Use your Dad's or a friends???" Hmmm, I wonder who made that suggestion..... Again, it's nice not to be a User..... buy your own, and don't sponge off of others. Pride of ownership counts for somethng here. Buying used cuts the price way down.

Most Tournament/Ski boat owners (not all..... but most) really baby their boats. Shouldn't be hard finding a used boat in fantastic shape.

Used used used!

READ THIS AGAIN

Doug has summed it up perfectly. There are plenty of REALLY clean used boats out there. You can find some great bargains in January and February. Start with an older model first to see how much you and the family like boating, then upgrade to which type (Ski or wakeboard) best suits your needs.

Edited August 20, 2007 by Dan P

[auto]

"I am so glad you are enjoying life a little bit when you are young. I waited until now to spend any money on toys and I am too old and tired to feel like doing it anymore. Be reasonable, but never wait to enjoy life until you are older."

Great piece right there. I am not financing my financial security for anything, but a $500 boat payment brings a lot of pleasure. I can go back an look at the pictures and the memories, sure beats looking at a financial/brokerage/balance sheet while sitting at home. I can always make more money, you don't get any more time.

[TJP]

Agree with Doug for all reasons mentioned. Used is the way to start. Plus, if this is the first boat for the family, there will likely be some growing pains involved (read: scatches from new drivers developing familiarity with an inboard, fins gouging the interior or transom, etc.). As unfortunate as these accidents may be on any boat, they hurt alot more on a 60K sparkly new one.

To answer your original question as to 'affordability', it was mentioned earlier that most hardcore boaters give up the family vacations, expensive toy cars and other luxuries to afford boating every weekend. But all feel it's a worthwhile tradeoff. From a different perspective, it's actually quite affordable. How else can you entertain the wife, kids, friends and their kids for 10hrs and $80 worth of fuel?

[vlx wakesetter]

Also everyone here is forgetting property tax for us Californian's.

[bigD]

Also everyone here is forgetting property tax for us Californian's.

I have that bill in front of me as I type. it still pisses me off! $296.88 this year including school bonds Etc... BS!!

[vlx wakesetter]

Also everyone here is forgetting property tax for us Californian's.

I have that bill in front of me as I type. it still pisses me off! $296.88 this year including school bonds Etc... BS!!

Yours is the same fee is mine. We still have a week and a half to pay it It pisses me off too and if I must say it's the hardest check to write EVERY YEAR .

[eubanks]

Went half on a brand new 2005 WSLSV off the lot in April 2005. Halfing it was really about the only way to afford it for us. We paid cash but we also saved very hard and were (and are) DINK's (double income, no kids) and didn't own a home at the time.

Doing the boat delayed us getting into a house but I wouldn't have changed our decision at all. Like everyone has said, you don't buy a boat for investment purposes but rather for pleasure purposes.

[sunscapeJeff]

I agree with the buying used argument. We bought ours with no tower, no perfect pass, no graphics, little in the way of a stereo, no ballast, etc. We've probably spent $2500 putting all of that stuff on it. Looking back on it, I kind of wish we would have spent $35000 on a boat with everything we wanted, instead we spend $30K and added on. However, like others have said, we didn't know what we wanted in a boat. We didn't think speakers on the tower were that big of a deal. We didn't think we'd ever want or need plumbed-in ballast. We never thought we would take to wakesurfing like we have. And, like others have said, our first run-in with the dock was a lot less painful on our $30K boat than it would've been on a $60K boat! And trust me, there will be a run-in. Oh yes.

There is no better way to learn your way around a boat than by doing all of that stuff yourself. Now, if something goes wrong on the lake, I'm extremely confident that I'll know what went wrong, and how to fix it.

The things that I was most interested in when we bought our boat were low hours (160 on ours), and in good shape.

And as far as the money goes, we financed for 15 years, but we pay it as if it were a 5 year note. That way, if anything ever happens, we can drop back to the original note. And, an unexpected bonus for us is that when you pay ahead like that, it pushes your "next payment due" out. So, I don't think I actually owe another payment until 2012 or something! If you had to forgo 401K or IRA payments, or god-forbid your kids' college or diapers or something, then buying a boat is downright stupid. If you can afford the boat and the other stuff, then I don't see why you wouldn't enjoy the boat while you can. Otherwise, save up for that sailboat that you'll use when you're 60.

And, to continue my ramble, we have great friends that help us with the gas every time out. We were riding back to the dock last night in the sunset, and I slowed the boat down as we pulled into the marina, and I looked around at all of the slightly tired, rosy, content faces in the boat. That's a great feeling. Just like they show in the boat ads. And we all commented how we think the boat is probably the best thing my wife and I have ever bought.

Edited August 20, 2007 by sunscapeJeff

[Arctic Slalom]

i'm a working professional, 29 years old with two young kids and my wife is a medical resident. this spring we decided to by a ski boat after we moved back to minnesota (six month boating season) and spent 8K on a very nice malibu sunsetter. so far we've logged about 100 hours on the motor and are very, very happy with the used boat. my wife and I are happy we bought the boat and realize that at this point in our lives a nicer, spendier boat is simply out of question. our payment is $150 a month for 3 years and this is perfect for us. by the time I'm 35 or so, I'd love to have a 99-02 sunsetter LXI , but until then, I'm just going to use my old sunsetter and enjoy the condition of my current ride. If you find an older inboard in great shape I think you'd be surprised with how many heads you will turn, plus if you spend a little on your specific needs (tower, stereo, ballast), you will have a great boat which takes little $$$ to get into. I think you could find a nice older boat for 20K and run it for 5 years while you figure out the 50K ride you really want. Getting a new, 60K boat is about progression. The people I see driving sweet boats have been boat owners for many years and have 'worked their way up' to a premium boat by paying off and trading over several years -this is what I see anyway.

BTW, just because you have a 50K boat doesn't mean you'll have a great time out there. A neighbor of ours (a local family) has an old closed bow American Skier (about the worst wakeboard boat you could ever want). The boat is an absolute Frankenstein with a homemade tower, homemade speaker mounts, sketchy amps and several 80 lb. tractor weights across the floor (ballast) ! There are three brothers in the family and they are seriously the best wakeboards I have ever seen (and an absolute riot to be out on the water with) .

The point is, if you have a willingness to have a great time it can be had without dropping the green for a new 08' wakesetter...although a new one would be pretty sweet!

[Green_Giant]

The people I see driving sweet boats have been boat owners for many years and have 'worked their way up' to a premium boat by paying off and trading over several years -this is what I see anyway.

This was totally the way to go for me. Progression makes each subsequent purchase somewhat less of a jump. I'm still not up to the new-boat level, have no debt on the toy, and don't regret a cash purchase even for a second. Not everyone has to work their way up like I did but here's been my experience along the way:

1980 16' outboard bought in 95, owned 3 yrs, sold for $350 more than purchase price, a paltry $3500.

1990 Supra comp bought in 98, owned 8 yrs, sold for 2k less than purchase but still got 10k towards next boat

2004 Bu bought in 06, plan on owning for quite a while.

I'd personally have a hard time justifying payments on a boat but am fairly risk averse when it comes to debt for toys so not making a judgement on others.

Good luck!

[Pondking]

here for the buy used column and don't finance toys unless there is amazing lending/financing like 0 -3% interest. Not usually available in the boat financing world just GM, Ford etc. clear out world.

In '05 I found a 99 sunsetter lxi (the boat that was right for my needs, advanced skier/ intermediate wake boarder /boater with young family) with 89 hrs. Thats less than 15 hrs/yr. It was garage kept and truly showroom with the exception of a couple dock scars mentioned earlier. I'm happy to say I've almost doubled the hrs in 2 seasons.

Point is there are some amazing boats out there if you look. You can get what you want, assuming you know what you want, for a good price 20-30k ish instead of 50 k ish and not necessarily be in debt and behind in value for 15 years. The savings pays for a lot of equipment, accessories and gas. From what I hear those payments can be tiresome in the winter when you cant get out to play but still have to pay. Its often the guys tired of making payments in the winter and not using their toys enough that are selling. IMHO.

Anyway what ever decision you make will be the right one for you. Good luck, enjoy the water and welcome to the site.