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Buying a new boat every year?


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I just curious, but how in the heck are people buying new boats every year (or every other year)? And why would you want to have a new boat every year?

I can understand when there is a hull change or major upgrade like surf gate, but the hit on these boats after a season has to be huge.

The obvious answer is the person buying the boat has a big income, but just don't understand.

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HOW: in my case, I am patient and work with my dealer to get a great deal. I sell them for more than I owe and roll it over. I didn't make much money on the last one so I will keep the next one for several years.

WHY: no good reason. it is a sickness that my wife is curing me of. LOL

Edited by bamabonners
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I also change my boat every year. I just can afford that because I also work very close with my dealer and I sell some boats for him every year. Therefore he sells me the boats for a very very good price. In reward I let people who want to buy a boat drive mine and give them a tour of all the features. So its good to always have the newest stuff as kind of a display thing.

We use my Boat a lot in that one year. After one year I can sell them at a pretty good price. If I would keep them for longer it would have considerably high hours on it. I dont know how much people would pay for that? Not to mention the costs for repair that would definitely come up

I prefer to take a small surcharge every year and have a new boat so i dont have to worry about things breaking.

And every year in spring I have the excitement of receiving my new ride for this season. Thats pretty awesome :)

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I've been kind of curious. I've been looking at ads with boats similar to mine, and I looks like I could sell it for what I bought it for. I had a good deal when I bought, not sure if I want want to go to surfgate or not. Boats already paid for, and pretty dialed in

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I actually see how this could work and would love to be able to do it, negative is you will always have a boat payment, positive is that you don't have to store or deal wiht the winter wiht the boat. Have any of you had issues selling your boats?

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I actually see how this could work and would love to be able to do it, negative is you will always have a boat payment, positive is that you don't have to store or deal wiht the winter wiht the boat. Have any of you had issues selling your boats?

Unless you paid cash for each boat....

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A new boat every year? Not a chance. Carrying a loan from boat to boat is foolish unless you have enough cash to flush. My Bu is a paid for 99 Sunsetter with under 600 hours and runs great.

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Sales Tax must be a significant obstacle. I live in the used boat world, and am envious of the states that don't charge sales tax on used boats older than 10 years.

If you sell it through the dealer, you only pay taxes on the difference. My last boat, I only paid taxes on 5k instead of 70k.

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Or just buy out if state. No sales tax in MT. There are ways around it. Or bought the bought in CA, registered in AZ, they do not charge sales tax on a used vehicle when you register it

You cannot purchase out of state and avoid paying taxes if you want to register your boat in Washington. You aren't hit with a sales tax, since you bought out of state, you are hit with a use tax, which is basically the same as the sales tax amount when you transfer the title (or the difference, didn't dig into the exact details, but you're not going to save any $$), or register in the state. Now, if you bought out of state and registered out of state, that is a different story.

Definitely varies state by state what you can do legally, or in that gray area.

Edited by MalibuTime
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You cannot purchase out of state and avoid paying taxes if you want to register your boat in Washington. You aren't hit with a sales tax, since you bought out of state, you are hit with a use tax, which is basically the same as the sales tax amount when you transfer the title (or the difference, didn't dig into the exact details, but you're not going to save any $$), or register in the state. Now, if you bought out of state and registered out of state, that is a different story.

Definitely varies state by state what you can do legally, or in that gray area.

Yup, gotta love good 'ole WA state. When I moved here, they made me pay the damn use tax on my used car trailer that I bought 2 years earlier when I lived in Vegas. They asked, "did you pay tax on that trailer", said no because it was a used private to private sale. "Well, you have to pay taxes on it now." I couldn't believe it, paying taxes in WA for a used purchase 2 years earlier in Nevada. Talk about a load of BS!!!!!

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You cannot purchase out of state and avoid paying taxes if you want to register your boat in Washington. You aren't hit with a sales tax, since you bought out of state, you are hit with a use tax, which is basically the same as the sales tax amount when you transfer the title (or the difference, didn't dig into the exact details, but you're not going to save any $$), or register in the state. Now, if you bought out of state and registered out of state, that is a different story.

Definitely varies state by state what you can do legally, or in that gray area.

SO WA has a property tax (or WA calls it a use tax)? Been quite a few years since I moved, but grew up in WA. How much is the use tax, and I assume that is every year?

CA charges 1-1.5% property tax on your boat every year. So a $50k boat , property tax every year is $500-750.

IN CA, you register a new or even a used boat in either OR or AZ, keep it licensed for in that State for 90 day, and after 90 days, you are transfer the vehilce into CA...so no sales tax. Nothing gray about it, but done all the time. Like I said easy to do. Businesses will do it for large ticket items like yachts.

Go to Ensanada, Mexico, you'll see an entire dock lined with new boats, waiting for their 90 days, then they make the drive back to CA.

Ya gotta love the entire West coast mentality, how all 3 states work hard at taking your money. That not only doesn't seem fair gorilla, but that is simply not right!! Similiar to my issues with CA DMV, and why I had OR registered vehicles for several years. Heck CA wants to impose that same property tax of 1-1.5% that they stiff me for on my LXI, on my Hobie Islander ( it has no engine, no CF #), but the County says anything over $500, can be taxed!! WTF!

Edited by [email protected]
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Years ago, I was lucky enough to ski with a group that was on CC's promo program. New boat every 300 hours. Sometimes we hit that 300 mark halfway thru the summer.

All those hours were slalom course practice and tournaments. Ah, the good ole day's.

Steve B.

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I just curious, but how in the heck are people buying new boats every year (or every other year)? And why would you want to have a new boat every year?

I can understand when there is a hull change or major upgrade like surf gate, but the hit on these boats after a season has to be huge.

The obvious answer is the person buying the boat has a big income, but just don't understand.

In California it would be near impossible to turn a boat every year and not take some kind of hit. Unless your dealer is selling to you at cost and making no profit. Especially if you add an aftermarket stereo system, ballast upgrades, etc.... plus the sales tax, luxury tax and fees all add up quickly. Especially on high dollar items.

I often wondered the same thing, I think if you are a person who just finances there life away its all a matter of payment amount. You can finance a boat for 15 years and have a small payment...Unfortunately I am a debt free thinker.... so taking a depreciation hit for a new boat every year just makes no sense to me. That's why I drive a 2004 vehicle, it's paid off and does what I need it to. No t having a boat payment imo is a great feeling... and having your boat completely dialed in also has some peace of mind.

To each is own, everyone has there own financial disciplines.... however, I do like seeing all the new boat pics come in during the winter!

Edited by Fman
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In California it would be near impossible to turn a boat every year and not take some kind of hit. Unless your dealer is selling to you at cost and making no profit. Especially if you add an aftermarket stereo system, ballast upgrades, etc.... plus the sales tax, luxury tax and fees all add up quickly. Especially on high dollar items.

And then we can't figure out why the California economy can't get rolling...

I know it is hard for democrats to understand, but you cut that tax in half, and have 3 times as many people buy boats, and you have increased the revenue and also put more people to work. But I digress...

When I had a great relationship with my dealer, I could have done the same thing, and the hit would not have been as big as you might imagine. It boils down to being able to not pay close to MSRP, being able to promote your dealer, and counting on next year's boat costing more than this year's.

As far as why, if I won the lottery I would do it for sure. If you have the money, that new boat smell is like crack cocaine.

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I only know one person who does this. He works for the dealer part time.

Personally, I don't think it's worth it, even though we are on our 3rd boat in 10 years. We kept our last boat for 5 seasons.

How about a different type boat? A nice cruiser maybe. Or trips to where the water is warm when it's nasty outside. I'd rather do that.

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