Buy/sell boat

Are people buying used boats? Any one sold or bought a boat under 20k in the last year. Mostly, has any one ever give up on trying to sell their boat.

There are a lot of boats being sold for under 20k. It depends on year and make as to how much you will get and how fast you will get rid of it.

I bought a 03 sante last weekend. The dealer had it for almost a year and a half. I got a good deal on it because of that.

I also tentatively sold my 93 sport with a tower last weekend too. I had it for sale for 2 weeks. I had it for rock bottom dollar and I called back the people who had interest and informed them when I dropped the price 1500.

I almost gave up on selling my 85 2001 3 years ago after it took 8 months of trying to sell it.

seems to me like boats that are priced right sell, those that are priced high don't. I've been looking for a while now and the boats that aren't moving are the ones that people/dealers want several thousand over what the same boat can be had for if someone does about 10 min of looking on the net.

yeah...all true--I won't sell my boat for less than I still owe on it.

You have to be slutty right now because the dealers are slutting out the new boats.

^^^Horrible...^^^

Give it time. Production on the 2010's seems to be way down from years past. Hopefully this decrease in supply will drive prices back up in the used market. Prices on the 2010 models are still very high.

I've thrown around the idea of selling but right now people can get smokin deals. I'm not going to be the guy givin up the "great" deal. I'm upside down and right now it's cheaper just to keep it, lol.

"I won't sell my boat for less than I still owe on it."

I think this is a big reason why so many boats aren't selling on the used market. People owe more than they are worth (BTW, I'm not suggesting that this is your situation).

I'm amazed at how many boats I see that are 5k over what NADA (you can argue how accurate NADA is) or what the same boat is selling for elsewhere. People will use all sorts of reasoning for their price that has nothing to do with the actual value of the boat. One guy told me he needed a specific amount of money because that was the amount he needed for another non boating purchase. I couldn't help but wonder what his needs had to do with the value of the boat.

Eventually the market wins. Boats, like everything else, are only worth what someone else will pay for them. I think the market is tighter right now because many people NEED to sell while many others have the means to purchase but are taking advantage of the tougher times.

bu coo, I'm with ya it does suck but it's true. I'd not consider getting rid of my boat right now because of the hit I'd have to take based on what people can get a newer boat at the dealer for. As Sam said we should see a re-correction in the next couple years as builders make less boats more in accordance with the market place.

People do crap backwards.

They buy houses, boats, and cars when they are in high demand and pay a premium. Then sell them when their value falls.

You should be BUYING stuff now if you are smart, and SAVING money when times are good.

Many people bought boats with zero down and fifteen year loans so they still owe what they actually paid for the boat 3 yrs later when they want to sell it. Dealers are not helping right now, but they are just doing what they have to, to move their inventory.Lousy time to sell right now but a great time to buy

Oh yeah and lots of boats under 20K are being sold but, like all they must be PRICED right

I bought a under 20K vdrive about a year ago. I salivate at the deals I see now

"Many people bought boats with zero down and fifteen year loans so they still owe what they actually paid for the boat 3 yrs later when they want to sell it."

I have a feeling there are a lot of boats sitting in garages, where the owner can no longer afford to use the boat, but also can't afford to sell it becuase they owe so much more than it's worth. So they are making payments on an asset that is actually depreciating faster than they are paying it off.

Always pay cash for your toys!!!!!!!

If you couldnt afford a Tonka Truck would you finance it?????

Jim,

If everyone followed your advice, the boat industry wouldn't exist

I do agree though.

Paying cash for a large purchase isn't all that bright. You burn up all your cash and reduce your financial flexibility should times get bad for you.

You should be able to use cash/sell enough stock to pay for your boat and your tow vehicle if you want, but it's not very smart to actually do that. If you don't have 50K in savings and you buy a 50K boat, that just isn't smart.

Wow I cant believe what I am hearing. Paying cash will always be better. You should be able to afford it though cash or not. If a everyone always payed cash including the dealers the industry could/would survive any economy.
there are two kinds people in this world, those who pay interest and those who earn it. I would much rather earn it.
Just my 2 cents

Putting 20% down and financing at a decent interest rate is best.

Having to pay cash for everything is just putting us in the dark ages. Actually I'm sure they had loans in the dark ages. What if you had some sort of emergency that insurance didn't cover (medical, house, family, etc.) If you had just put all your money in your boat, you would have to sell it to pay the bills (incurring those transaction costs twice). If you financed and still had the cash/investments on hand, you would be able to meet your emergency needs and keep paying on the boat.

I think it's much better to have some cash resesrves than to have to fire sale your boat when you need the cash right away.

I would love to buy a used boat around 10K, but cant justify doing it when I have other assets sitting around that are paid off that I cant sell and dont wanna 100% finance something.

NADA is absolutley retarded as far as used boat prices go. They had my boat pricing out at 14K....Any where on the net average was 16.5-21K. most of those didnt even have towers. I also talked to CC in orlando and they agreed with the fact that NADA was raping used boat prices....It makes it harder to sell a boat when people rely on NADA for current market value.

If there was no financing for boats the industry would not survive. at least 70% of all boat purchases are made with financing of some kind. We've all got to be smart and keep within our budget but is it realistic to believe that most 25-45 somethings can save 40-50 K for a new ski boat while also saving for college and paying for other family obligations(kids sports,dance/music lessons). I say pay cash if you can, but if not, put a nice chunk down, pay a little extra each month(to stay equitable), and sell it when your done with it.

Putting 20% down and financing at a decent interest rate is best.

Your joking right????

Cash reserves??? If you blew all your money on a boat then you probably made a bad decision.

I pay cash and have plenty of reserves. I dont like to pay banks to use MY money.

some of us dont have barrels of money so if a boat is really wanted then financing it is the only option. And putting money down is the best thing to do in that situation. It would be pretty sweet to just be able to walk into a dealership and drop the cash for a boat tho

"NADA is absolutley retarded as far as used boat prices go"

perhaps in many cases it is. However, many banks don't think so, and many insurance companies will also use NADA when telling you how much your stolen or totalled boat is worth. Dealers also hate NADA because it undercuts their asking prices signficantly, but let's remember, they are retailers.

I agree that NADA has flaws, but it's a very good place to start and it's an easy way to help take emotion back out of a purchase.