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Just wondering if anyone else out there is nervous on whether are not we should be hanging on to our gas guzzling wake boats are should we be selling them now before none of us can afford to fill them and no one else wants to buy them?
Any thoughts on what gas prices will do to the values of our boats?
There's no way I'm selling mine! When I take my boat out, I ask each of my friends that go with me to chip in $25-$30 for gas, which they're usually more than happy to do. This helps offset my fuel costs, especially when I have 4 or 5 friends with me. Now if gas were to go up to $10 a gallon, I might be changing my tune...
The resale prices on boats are definately down, more than most people would like to see. In fact I know of a '06 LSV with low hours that the owner just dropped to below $30K and he still hasn't got any hits. The boats that seem to be really taking it in the shorts are the high dollar bling boats while the lower end price point boats are doing a bit better.
When i bought my new LSV a month ago i knew exactly what i was getting into and had no illusions about the boat market as it stood. I intend to keep it for quite awhile unless something were to happen to force my hand, but it won't be gas.
I and 2 of my friends each put in 10 gallons of gas. shit 40 bucks easy, my problem is alot of my friends either don't wakeboard, and also dont have money to be spending. All my summer job money is going to my gas boat, and diesel truck. Maybe I'll have enough left over to buy me a tv for my college house. Who knows though.
short term..
I did not buy mine for an investment...but, I do like to know that I can get out without a loss...
so, bottom line, now is probably not a sellers market, but that'll change... BUT, used boats will probably sell better than new in some markets..
When gas starts pushing the PITI, then you may have a problem. My Suburban runs me $2,000 a year more than a Civic at $4 gas. It is not the end of the world.
Short oil, it is going to $75.
SD2
I agree with JKendell. I also have friends who do not mind giving up a few bucks for gas. Makes filling up alot easier.
I do just as much boating but I now take people along to share the cost.
anyone considering owning a boat should not buy one if they are concerned about gas prices! it's like high-end sports car owners, you know you're not going to get 50MPG but that's not why they buy them. just like us boat owners, all the enjoyment we get out of boating is the reason we buy our boats. our gas in Calgary is $1.30/L, which is about $5.00/US gallon and it's supposed to go up to $1.50/L, that sucks. my thoughts are, omit one supper at a restaurant, cancel the $100/month cable, and you'll have the extra cash to spend on the boat!
Hey can you give me the name of the guy who has that 06 Moomba LSV for sale, I am interested!!! [email protected]