Purchasing a new boat every year?

[Sunscape fan]

Anyone with a 15 year boat loan can't afford the boat...period.

People always throw around the job loss thing as to why people foreclose or have stuff repoed. I am willing to bet that isn't even the cause 1/4 of the time...overspending is the cause. Paycheck to paycheck, no savings, but need that new 60" plasma. Credit card will tak care of that. Buying brand new cars, designer clothes, Starbucks daily and expecting me to feel sorry for you when it all comes tumbling down.

I have never purchased a new car (or ATV, boat, etc). Why...new items like these are for suckers, I'll let them eat the depreciation and I will pickup the same item in a couple of years for a fraction of the price. Could I afford to buy new...sure, but then I wouldn't have money for other things I want to do (or savings or retirement).

We bought our boat cash for a reason. I bought it at or near it's lowest market value, so in 5 years I can sell it if we want and break even. Did the same thing with my last boat...had it 11 years and sold it for $800 less than I paid for it (I did sink some money into it, but year to year cost was very low).

You don't get ahead in life by just blowing your money on every new item you see.

This is a rather arrogant statement to make. If there weren't people buying new boats and selling their current used boat, there wouldn't be any used boats for YOU to buy. So it's kind of silly to say something like this.

When we bought our boat, it was brand new, one year old. So the dealer took a huge hit on the boat. I think I saved more than one years depreciation on the boat. When we bought the boat, we got a loan for 20 years, yes you read that correctly, 20 YEARS!! However, the boat is now paid for. We wanted a low monthly payment that we were locked in to. I think someone else already mentioned this. We didn't want to be committed to a high monthly payment. Instead, we had the low one and then each month we put more than double on the loan. Eventually we made a lump sum and paid it off.

Recently I went into the dealer to look at upgrading. He told me "we absolutely treat repeat customers totally differently than first time customers" He was willing to give me a pretty good deal on a new 23LSV optioned my way. We ended up not going for it cause I would have still had to put out $27000 over my trade-in. So I think repeat customers do get something, but I think they are still taking a large hit.

[Bobby Light]

This is a rather arrogant statement to make. If there weren't people buying new boats and selling their current used boat, there wouldn't be any used boats for YOU to buy. So it's kind of silly to say something like this.

When we bought our boat, it was brand new, one year old. So the dealer took a huge hit on the boat. I think I saved more than one years depreciation on the boat. When we bought the boat, we got a loan for 20 years, yes you read that correctly, 20 YEARS!! However, the boat is now paid for. We wanted a low monthly payment that we were locked in to. I think someone else already mentioned this. We didn't want to be committed to a high monthly payment. Instead, we had the low one and then each month we put more than double on the loan. Eventually we made a lump sum and paid it off.

Recently I went into the dealer to look at upgrading. He told me "we absolutely treat repeat customers totally differently than first time customers" He was willing to give me a pretty good deal on a new 23LSV optioned my way. We ended up not going for it cause I would have still had to put out $27000 over my trade-in. So I think repeat customers do get something, but I think they are still taking a large hit.

Yeah I was thinking the same thing.

[Nitrousbird]

This is a rather arrogant statement to make. If there weren't people buying new boats and selling their current used boat, there wouldn't be any used boats for YOU to buy. So it's kind of silly to say something like this.

When we bought our boat, it was brand new, one year old. So the dealer took a huge hit on the boat. I think I saved more than one years depreciation on the boat. When we bought the boat, we got a loan for 20 years, yes you read that correctly, 20 YEARS!! However, the boat is now paid for. We wanted a low monthly payment that we were locked in to. I think someone else already mentioned this. We didn't want to be committed to a high monthly payment. Instead, we had the low one and then each month we put more than double on the loan. Eventually we made a lump sum and paid it off.

Recently I went into the dealer to look at upgrading. He told me "we absolutely treat repeat customers totally differently than first time customers" He was willing to give me a pretty good deal on a new 23LSV optioned my way. We ended up not going for it cause I would have still had to put out $27000 over my trade-in. So I think repeat customers do get something, but I think they are still taking a large hit.

Arrogant...I'm fine with that. There are plenty of people with either more money than sense, or much more often the case, willing to be in debt up to their eyeballs just to keep up with the Jones's. There will always be people buying new boats because of this and keeping the market flush with used trade in or private sale boats.

Your 20 year loan doesn't really count if you just did it as a safe fail in case a bad situation comes up, and really made it a reasonable length loan. Most people with 10+ year loans aren't doing that, and those people can't afford those boats. Imagine how much less you would have paid for your boat if you purchased it 2-3 years latter.

[Murphy8166]

Arrogant...I'm fine with that. There are plenty of people with either more money than sense, or much more often the case, willing to be in debt up to their eyeballs just to keep up with the Jones's. There will always be people buying new boats because of this and keeping the market flush with used trade in or private sale boats.

Your 20 year loan doesn't really count if you just did it as a safe fail in case a bad situation comes up, and really made it a reasonable length loan. Most people with 10+ year loans aren't doing that, and those people can't afford those boats. Imagine how much less you would have paid for your boat if you purchased it 2-3 years latter.

You have a point - maybe with all that extra money, you should support the MBC :yahoo:

[Living the Dream]

You have a point - maybe with all that extra money, you should support the MBC :yahoo:

[Bawshogg]

This guy will die with ........ONE MILLION DOLLARS!!! And leave it to his kids so they can rip on all the poor folks for being poor.

[shawndoggy]

Arrogant...I'm fine with that. There are plenty of people with either more money than sense, or much more often the case, willing to be in debt up to their eyeballs just to keep up with the Jones's. There will always be people buying new boats because of this and keeping the market flush with used trade in or private sale boats.

Your 20 year loan doesn't really count if you just did it as a safe fail in case a bad situation comes up, and really made it a reasonable length loan. Most people with 10+ year loans aren't doing that, and those people can't afford those boats. Imagine how much less you would have paid for your boat if you purchased it 2-3 years latter.

Not to be a grammar cop, but the misplaced apostrophe drives me nutz. It's Joneses, not Jones's. If you were talking about the boat that Mr and Mrs Jones own, that would be the Jones's boat. but to keep up with Mr. Jones and Mrs. Jones is to keep up with the Joneses.

[shawndoggy]

[Fman]

This thread has completely got off topic, almost want to have it deleted

[nyryan2001]

The annual and bi annual repeat customers get WAY better deals then the average buyer.... Usually in the terms of options.... Those are easier to throw in from dealers at a lower expense.... So those boats tend to be loaded and sell quicker and relatively higher on the used market. So they get a great deal on the boat, often a STEAL on options and acessories, then get retail on the consignment sale back thru the dealer. Not to mention, that their special status entiles them to the BeST service, and their boats will be detailed and FLAWLESS much cheaper than the average owner. Throw in a few demos, referrals, bring in a few potential customers and the price continues to drop and kick backs increase.

It's a symbiotic relationship. That's how they cover most of the 10-15k depreciation.

[TallRedRider]

The annual and bi annual repeat customers get WAY better deals then the average buyer.... Usually in the terms of options.... Those are easier to throw in from dealers at a lower expense.... So those boats tend to be loaded and sell quicker and relatively higher on the used market. So they get a great deal on the boat, often a STEAL on options and acessories, then get retail on the consignment sale back thru the dealer. Not to mention, that their special status entiles them to the BeST service, and their boats will be detailed and FLAWLESS much cheaper than the average owner. Throw in a few demos, referrals, bring in a few potential customers and the price continues to drop and kick backs increase.

It's a symbiotic relationship. That's how they cover most of the 10-15k depreciation.

And I forgot to add, like nyryan said, when I did my first boat flip, my service became far superior. I was taken care of very well. I did not expect that, but one time I called in the middle of July, and was in and out the same day I called. I am sure someone else's issue got bumped because of that. That was worth some coin right there.

[Malibuzer]

The annual and bi annual repeat customers get WAY better deals then the average buyer.... Usually in the terms of options.... Those are easier to throw in from dealers at a lower expense.... So those boats tend to be loaded and sell quicker and relatively higher on the used market. So they get a great deal on the boat, often a STEAL on options and acessories, then get retail on the consignment sale back thru the dealer. Not to mention, that their special status entiles them to the BeST service, and their boats will be detailed and FLAWLESS much cheaper than the average owner. Throw in a few demos, referrals, bring in a few potential customers and the price continues to drop and kick backs increase.

It's a symbiotic relationship. That's how they cover most of the 10-15k depreciation.

You are bang on!