Is now a good time to buy a new boat?

I have been thinking about upgrading my boat for a while now, and I can't help but think this would be a good time to buy.

With the economy sagging and the gas prices sky rocketing, I would imagine the boat dealers out there are starting to get worried about their inventory. I would think it's a Buyer's market, right??

For example, I saw some X-Stars at a dealership listed for $107,000+ !!! I can't imagine they would sell an X-Star for anything close to that! If I were to go into the dealership tomorrow, what would you think I could negotiate?

Just a thought, as I am getting the itch to upgrade again, and if the timing is right for getting a good deal, I may start the process of test-driving and negotiating. Any input from recent boat-buyers would be appreciated.

Yes, Yes, and Yes......deals are out there to be had, some dealers are sitting on excess inventory. Depends on where you would be buying from, but its a great time to negotiate.

Will you be buying from a Hawaii dealership or a California dealership? I would imagine that it's harder to negotiate price in Hawaii because of the shipping costs, but maybe it would be easier because they've already spent the money to ship it out there. I do know that 09s are just about to come out, if they haven't already, and there are great deals to be had on 08s right now.

You guys board out there with the sharks? That would freak me out.

nu bu, the sharks don't bother you. They usually stay on the bottom where we ride.

Alan, you already got a great deal on your boat. You won't get the same deal if you buy new now, even with the way the economy is and the high gas prices. I would stick with your 211!!!!

Negotiate... You always hear the dealers say that they are making almost nothing on a boat after you negotiate them down a couple grand; its total BS... Dealers make 20% - 30% on new boats at full retail.

Damn Ryan, I knew you would burst my bubble!!!

I know, I got a really good boat, and I got an unreal deal, so I should be happy. But, I was just thinking, if there are some steals out there, it would be worth checking out. Tannya and I have camped out at the club the last 3 weekends, and we are both planning on spending lots of time at the club once we have our new baby. Great family environment, and we will be using our boat tons!

Andrew, there aren't any real dealerships in Hawaii, as the market is tiny and the cost of doing business is crazy high. There is a Nautique sales rep. and a Malibu sales rep., but there are no boats on the floor or inventory of any kind. All orders for Hawaii are custom orders, and the customer traditionally pays for their own shipping (around $4,500 from the west coast). I would be probably negotiating with both mainland dealerships and the Hawaii reps., but my guess is that the mainland dealerships with heavy inventory would be able to offer the best deals. Just thinking out loud at this point and trying to get some information, haven't made any decisions yet.

If it is full factory direct you may save some money as you won't have to pay the dealer markup that covers their costs of doing business. Check out both routes and see what you get.

GOD NO. A NEW boat? Sorry to rain on everyone's parade, but mfgs/dealer are not going to sell boats at a significant loss. They can't. In today's environment, dealer cost is NOT the best deal to be had.

But people will, however, sell at a loss. They will do it at huge losses if they have to put food on the table. It is a GREAT time to buy a USED boat...and getting better. Next fall and winter will be even better still.

Housing prices in free fall ($710K to $350K in Dicso Bay in two years), stock market tanking. Next shoe to drop will be employment. Buy a sweet 1-2 year old ride with less than 100 hours, and you will be laughing all the way to the bank.

So dealers will just keep their 07 boats rather then sell them at low low low margins? That doesn't sound right to me.

1-2 y/o used boat a good buy??? I may be wrong , but I disagree. This is a great time to buy new. With the way the ecomomy is right now, it's a great time to buy anything new. People who bought two years ago didn't get such a great deal. So they will have to take a loss selling now. I would recommend buy new, get a full warranty, and a great deal! I rather make a skinny deal , than non at all.

(Message edited by rodltg2 on June 27, 2008)

I still think Brant is right about buying used being a better deal. If a dealer is faced with either selling at a loss or holding onto inventory for an extended period of time, it's a lose/lose situation. But a lot of recent wakeboat buyers were "smart" and financed their boat through their home. They can lose thousands because they already have a clear title.

While it may a decent time to get a good price on a new boat, I've got to agree that it's a far better time to buy used. You've got people that absolutely have to get out from under a boat payment and they're going to be far less able to ride out a tough stretch than a dealer.

Another way to think of it: they're already prepared to take a loss. They know the boat isn't going to sell for what they bought it for. They may even know that it won't sell for what they owe. So let's say my boat is worth $1000 less than what I paid, but I'm desperate to get rid of it. I'm probably not going to balk if the best I can get is $2000 less than I owe. I'm already losing, what's a little more?

A dealer, though, expects to make money on the boat. He's not going to go from making $1000 on a deal to making $0, let alone losing money on it.

I'm holding off till I can get a used V-drive for under $15k. It's going to happen.

It is a good time to get new or used.... It just depends on the specific deal and boat you have found. Keep in mind it sounds logical to be able to rip a deal on a 1-2 yr old used boat, but you will find out very quickly when you start negotiating on that boat that the owner of the boat has it financed and probably financed for more than it is worth. Hence, there is almost no negotiaion and you are stuck. I think the way to go is find someone selling a 1-2 yr old boat and has the title in his hand and needs to sell ASAP.... That is where the deals are. Dealers are much more willing to deal on boats now too cause they are sitting on inventory... some even still sitting on 07's......
Oh yeah and keep in mind you still have to sell your boat it sounds like.... not an easy market and you will be in the same boat (no pun intented)