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Trade boats to constantly stay in warranty?


JoshinYall

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I can see value in always having a boat under warranty. My idea is maybe estimate how much I'll need to pay off every 3 years so I can trade in a for new boat and keep my payments roughly the same. Yes I realize it matters what boat I trade to, but on the surface it seems worth it. I'm not trying to be a boat owner so it somewhat doesn't matter to me if I ever own a boat outright. Anyone doing something similar?

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A lot of people trade out very year or two mostly to keep the boat from depreciating a whole lot. Some because of warranty. Malibu warranty keeps getting harder and harder to make work for you though so we will see what the next 5 years brings.

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I did that for a few years, now the prices are rising so fast it doesn't work out when you pencil it. You will pay more playing that game now than your ever spend on work with no warranty. These boats are going up over 8k a year with no end in sight.

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No warranty issues at all on my boat, and after 11 seasons the only repair issues I have had are a new horn and bilge pump. I'm at about 500 hrs now and the boat spent the last two summers in the water.

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Malibu "warranty" is no reason to keep getting a new boat.

Specially after reading about issues with dealers refusing to perform warranty work, warrantied vs what is not warrantied. Quite a bit different than say a car.

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Really? Just to keep a warranty? How much warranty work are you getting done? If it's in the shop that often than you picked the wrong boat. If it's never in the shop then you have a great boat and don't need a warranty. I say pay off the loan and build a repair fund with what "were" your payments. To have payments that are forever makes zero sense to me.

Ok, I said it. So go ahead, someone tell me how wrong I am.

  • Like 1
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For warranty, no. If you have money to burn and want a new boat every couple of years and dropping an additional 5-10k over the price of the boat for cover, racks, lights, stereo, trailer upgrades etc. is not an issue then by all means, yes makes total sense.

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I see the value in buying every few years. If you finance for long term and trade it early,

it's kind of like leasing. Problem in most states is the sales tax. Typically when you lease, the tax savings are one of the big benefits. I'd say the benefit is not in the warranty but is more about always having a newer boat with the new technology. If you have the means to pay cash for the boat or pay it off in short order, that's the cheapest way. If you make 15 year payments, I can definately see upgrading every 5 years or so. Financing is important for resale value. Bank of America for example will lend 15 years up to 6 or 7 year old boat. As long as rates are low, financing a newer boat every 5 years or so, is not a bad option IMO.

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No warranty issues at all on my boat, and after 11 seasons the only repair issues I have had are a new horn and bilge pump. I'm at about 500 hrs now and the boat spent the last two summers in the water.

You must have one of those pre-Jack Springer Black Canyon Malibus

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You must have one of those pre-Jack Springer Black Canyon Malibus

Right, by definition every boat built after 2006 (year black canyon invested) is incapable of not having problems.

I've had 2 issues on 10 different malibus, one was AFTER warranty expiration, a bad depth transducer, and an ECM which was within Indmar warranty. One before 2006 and one after. Big freakin deal. My only current boat is a 2005 bought used 5 years ago. That boat has 650 hours on it running at exclusively 34 or 41 mph, put away sopping wet every time and never a single issue. Oh that's right, it was pre black canyon, that explains why I got one of the "better" engines and they used "better" fiberglass and "better" components because in 2006 it all went down the drain.

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If you love new boats, then do it. It will cost more than just your regular payments, unless you have a lovefest with your dealer. If the dealer gives you a smoking deal every year, something better than he gives everyone else, then the depreciation is not nearly as much.

If your dealer is going to give you a smoking deal each year, then you can sell it for not much less than you bought it for. But starting from scratch and getting tight with a dealer is something that comes with time, and hard to just hop into the dealership and ask for that sort of deal.

The other issue is that new boats always have more issues than 1-2 year old boats. Having to break in a new boat is something I would not look forward to.

Edited by TallRedRider
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Never! I have only had two warranty repairs one very minor and the other two speakers replaced. If you use it and make it through warranty without issues I bet you have a keeper.

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If you borrowed $100k for a boat, and paid 6% interest over a 15 year loan, keep in mind:

-If you sold after 5 years, you will already have paid $50k on that loan.

-After 15 years, you will have paid $150k.

-If boat loans are like auto loans (may vary by state, but in Colorado we have weak consumer protection laws, so the following applies to CO), then you get no break for paying off the loan early. Once you sign for the loan, you are on the hook for the entire amount of interest that will be paid over the loan term. So, in CO, if you bought the boat based on $100k, 15 yr @6%, then paid it off the VERY NEXT DAY, you would have to pay back $150k.

Add in depreciation and warranty being what it is, and I cant see how it would make sense, money wise, to finance a new boat every few years.

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I'm not going to read the whole thread but in case it hasn't been mentioned a boat could be more reliable after 2 years when all the kinks are worked out. Trading boats to stay in warranty would be expensive and could cost you even more down time. Personally I've done so many little mods to my boat that giving it up for a new boat would be a downgrade in a way. I don't want to do it all again.

Edited by Ruffdog
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Stay in debt forever & never really own anything? Just because I don't want to change the oil?

Naaaa..... it's easier to learn a little about my boat & tinker with it occasionally.

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Own land, home, cars outright. We're hard on vehicles out in the country so Im not sure a lease would work.

Part of the deal for us, is that we live so far from good water, that when we take the time to plan a weekend or a few days at the lake, then haul the boat down there, we just want it to do what we want and work correctly with no headaches.

Dave Ramsey is def shedding a tear, but then again I dont agree with much of his teaching, so its ok.

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