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Am I being unrealistic?


Cjcola16

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On 3/29/2020 at 12:15 PM, oldjeep said:

What the market will bare, or supply vs demand.   The primary and secondary market for luxury goods always depends on the economy.   If you can afford to buy when the economy is bad then you reap the rewards of your good choices or luck. 

This is what i am counting on. The boat industry has been jacking up their prices a good amount every year because people kept buying. Easy to justify when the market is going up 10-15% every year and debt was cheap. This fall may be a prime time for me to get a great deal on a boat from someone who leveraged themselves to the max. I have no sympathy for the people who truly couldn't afford these boats even with a great economy and had no exit plan if things went south

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On 3/31/2020 at 6:56 AM, granddaddy55 said:

nothing works like a certified check in the amount your speaking of in person, cheap talk is just that, cheap talk , your email is like  a fishing email , who would touch that and wreaks of you nit being serious 

or snail mail that check with your contingent offer,  thats what i did.  GM told me no thank you, i said thats fine just mail me my check back,  within two hours the salesman under him had a deal done

"nothing works like a suitcase of hundred dollar bills on the table in the amount..."

There.. fixed that for ya :)

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8 hours ago, Brantb said:

This is what i am counting on. The boat industry has been jacking up their prices a good amount every year because people kept buying. Easy to justify when the market is going up 10-15% every year and debt was cheap. This fall may be a prime time for me to get a great deal on a boat from someone who leveraged themselves to the max. I have no sympathy for the people who truly couldn't afford these boats even with a great economy and had no exit plan if things went south

I totally agree and great post. 

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1 hour ago, dwc032 said:

I totally agree and great post. 

me too.  Same with house prices.  The market here has been crazy (40% in 4 years) and while that was good new for me I really think it is unhealthy and not good for the economy. Same with boats.  And I agree... this fall will likely be much like 2008... GREAT deals on boats for those of us with the money to buy them.  I think the one difference this time around is that the banks are in good shape so far more people will still be able to get loans for a boat (including those who maybe shouldn't be buying these boats.)  Back in 2008/9 few people had the cash to buy and the banks were a mess and unable to make loans.  Should be an interesting road to watch over the next few months.

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19 minutes ago, gregtay said:

me too.  Same with house prices.  The market here has been crazy (40% in 4 years) and while that was good new for me I really think it is unhealthy and not good for the economy. Same with boats.  And I agree... this fall will likely be much like 2008... GREAT deals on boats for those of us with the money to buy them.  I think the one difference this time around is that the banks are in good shape so far more people will still be able to get loans for a boat (including those who maybe shouldn't be buying these boats.)  Back in 2008/9 few people had the cash to buy and the banks were a mess and unable to make loans.  Should be an interesting road to watch over the next few months.

Same here in Bend, Oregon. The housing is crazy and I couldn’t imagine buying our house right now. No way we could afford it.  I have a government job and get paid well and would love a new boat, but it’s just not something we are willing to do. I will be retired in 8 years.  That will make me 53, and retirement is more important then a new boat, I think...lol.

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10 minutes ago, dwc032 said:

Same here in Bend, Oregon. The housing is crazy and I couldn’t imagine buying our house right now. No way we could afford it.  I have a government job and get paid well and would love a new boat, but it’s just not something we are willing to do. I will be retired in 8 years.  That will make me 53, and retirement is more important then a new boat, I think...lol.

You have your priorities all wrong!!!... New boat is FAR more important than retirement! :-O 

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On 3/28/2020 at 4:28 PM, Cjcola16 said:

Hello all, apologies if this is the wrong place to publish!

 

In the market for a boat.

My question is with all that's going around with unemployment, the stocks falling, etc. With a dealer offering a 22vlx at 65k would offering 50k be fair? 

Is this something dealers take into consideration as they are looking to get rid of stuff?

https://www.boattrader.com/boat/2015-malibu-22-vlx-7401748/

 

 

Just curious how much markup you think dealers actually have in used boats?

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1 minute ago, Tjards said:

Just curious how much markup you think dealers actually have in used boats?

dealer acquisition cost and  mark up is  irrelevant with prices about to plummet 

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14 minutes ago, granddaddy55 said:

dealer acquisition cost and  mark up is  irrelevant with prices about to plummet 

Right now that is just speculation. It's possible but also depends on what happens in the coming weeks.

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12 hours ago, granddaddy55 said:

dealer acquisition cost and  mark up is  irrelevant with prices about to plummet 

No it's not.  There might be some individual cases of panic selling, but dealers are not going to sell all their inventory at a fire-sale loss if they want to stay open long term.   You most likely won't see that until you are buying from a receiver or bankruptcy trustee.  

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its just like china,  dealers and factory are going to hide the cancellations snd unfilled orders,  i dont want any ones asset values to decline but that is inevitable now,  boat flipping is over!

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Sit tight and watch, they will be moving used inventory to ease their overhead to keep operating and keep employees. The company I work for is already making plans for this to last until June/ July. Many of the dealers wont make through a gap that long or the gap that will follow due to unemployment and financial burdens that will come with it.

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Now is the time to support local dealers who have been good to us. In these troubled times it most certainly could be a mutually beneficial arrangement. I know if I was in the market for a boat, I wouldn’t hesitate to talk with our Malibu dealer.


I’m also sure that Malibu doesn’t want to lose their dealerships. They will support them with appropriate rebates, etc. That is how we bought our boat as a holdover. A good dealership does everything they can to make loyal customers, And loyal customers support those dealers. 

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I suspect the dealers will weather this better than the boat owners. I'm amazed how many boat owners are making payments. Given unemployment right now is over 10%, some of those folks are going to be looking to turn their boat into some living cash soon, or at least get out from under their payments. 

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Any business owner up here in western Canada right now is feeling it hard. The economy has been down the drain for the last year and now the virus has shut the majority of shops down. Obviously dealers aren't going to be selling boats below costs but I defiantly see some big things coming. It does look like lots of the banks are offering 0% for 6 months no payments but that is still a risky move for a new boat or car. 

But you never know, my dad runs a snapon franchise and he has sold 5 tool boxes in the last couple weeks and that's not normal. 

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11 hours ago, SomeYeahoo said:

I suspect the dealers will weather this better than the boat owners. I'm amazed how many boat owners are making payments. Given unemployment right now is over 10%, some of those folks are going to be looking to turn their boat into some living cash soon, or at least get out from under their payments. 

Agree.. but I think that trickle down effect can hit the dealers... if there are a bunch of people fire selling their newish boats because they can no longer afford them then it impacts new boat sales but in this case I think it happened early enough in the year that production/orders will be adjusted.  As I said earlier in the thread.... I think the remainder of 2020 production (and early 2021 MY) will be Sold orders only and all "inventory/stock" boat orders will be cancelled.  This would hopefully be enough to keep the factory busy and keep inventory at dealerships low.

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