Boat Sale Climate

[Matt0520]

Where can I find these rates?
Best I've seen were 4.75% for 15 years and 5.25%

15 year was over the phone with Ohio Educational Credit Union. Chemical Bank of Michigan offers the same. Both lend all over.

20 year: (send this to your dealer's finance guy and have them match it) https://www.essexcredit.com/home/boat/rates/

[larry_arizona]

My take is not to stress about the payment, you all know what you can afford and what is over budget.

If you wanna keep up with the Jones’s you are a baller with FU kinda money.

This is not a poor mans hobby.


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[Matt0520]

This is not a poor mans hobby.


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True story. But unlike other high-end hobby worlds (like cars) boat people seem far more laid back, which is awesome. My wife's family breeds/reins quarterhorses and this crowd reminds me a lot of that one. Drinking bud heavy in their T shirts and Sam's club jeans as they climb into their quarter million dollar RV lol

[larry_arizona]

I think boat and fast cars are similar.

Most of the cars crowds I hang with are super laid back. But one rule is common.

Just like there will always be someone with a faster car, there will always be someone with a “badder”ass boat.....takes bank to stay out front.

I find my lane and I am very happy to stay in it.


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[jcarter20]

I don’t know how the build slots are working out this year, but I can tell you that by the end of boat show season last year you couldn’t get a Craz until late August. At least that is what my dealer told me. Luckily I had my order in in September of 2017 and got mine in February. Unless the climate changed from last year, I still perceive it as boats are flying off the show room floor.

I think what put me over the top to buy new vs used were all the options. It is very hard to find another boat with the exact options, paint scheme, and interior scheme. The way I looked at it was if I am going to spend $60k, I might as well spend $80k and make it exactly what I want. No sense in upgrading from a boat that “does the job” to another boat with things you don’t like about it.


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[jmvotto]

Yellen has said that future increases have been postponed indefinitely this year so I don't see another increase imminent. Not sure if they'll go down or not but probably not going up anytime soon. If you do a build, your dealer should be able to lock your rates for 90 days so no worries there. Best I've seen were 4.75% for 15 years and 5.25% for 20. Either way, wouldn't count on a refi unless you're putting a chunk down, most banks require a given equity position to refi, 6 mos of on time payments, etc.

I will say Moomba doesn't have much of a perceived discount, 7-9% is what I've seen. Doesn't feel like a ton, but when we cross-shopped the T22, the Craz comes with much more (rear bags, sliding rearview seat, improved dash, cleats, bigger motor, etc.). So Axis and some others might have a larger discount (I personally was offered 15%) but that nets out to the same price as a Craz (mid to high $70s) since the T22 build MSRP came in at at least $9k more. No matter the model, it seems like we get the best bang for our buck.

As far as demand, still seems to be there. I closed our deal first weekend of the boat show, and there were already 50% of the build slots spoken for. I think prices will continue to go up until there is an adverse affect on demand. The annual increases are similar to what Rolex does. Sure, the boat (or watch) is expensive, but you'll always get your money back out of it thanks to the annual increases on new models. People keep paying for these things, so why not make them incrementally better and increase the MSRP? These manufacturers aren't stupid, I'd bet they have a whole list of improvements they're ready to make, and they sprinkle only a couple in year over year. Thinking of the Craz, 2016 was release, 2017 was bigger tabs, autowake, and color screen, 2018 was wetsounds options, newer autowake, and now 2019 is new dash, full wetsounds system, and autowake 3. Next year I'm sure they'll be some improvement and so on and so on.

If you're financing I look at it like this...I could save a hundred bucks a month or so and get a $50-60k boat that's almost a decade old. But I'm going to be putting a grand or two a year into it I figure. That alone makes up for the savings delta. And even if I don't have to put that much into it, I'd still rather pay a bit more for a new one and know how it was broke in, have the warranty, etc. Now if you're paying cash, different story.

Yellen is no longer the Fed chairman. Powell is

[Matt0520]

Yellen is no longer the Fed chairman. Powell is

That’s I meant sry


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[jmvotto]

That’s I meant sry


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No worries she is out there chirping but has no control any more

[Matt0520]

No worries she is out there chirping but has no control any more

I think that’s where I got mixed up. Saw her quoted in a recent article


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