Boat show

Heading down this afternoon. Any “MUST SEE” booths? I’ll be stopping in the SBC, Yar-Craft, Backtroller booths for sure. Anything else?

I hope your promoter is better than the one in Milwaukee. We just had ours, and there were just a smattering of fishing boats. Pontoons were as far as the eye could see.

People are buying them!

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In 2009, 20 percent of aluminum outboard boats shipped in Minnesota were pontoons, according to statistics from the Marine Manufacturers Association. In 2013, pontoon market share had shot up to 42 percent.

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Pontoon story from the Pionerr Press

-J.

Oh I don’t disagree. Pontoons and deck boat sales are way up…I was just looking for a mid winter fishing fix. Although the was this Harris Floatboat pontoon with twin 300hp Merc Verados on the back…industrial rated cup holders were standard on that model.

I was on the phone with my boat dealer yesterday and he said the same thing. Can’t keep enough pontoons. He also said the higher dollar big walleye boats were moving also.

I can see the trend towards larger walleye boats. I have a Tuffy 1760 single counsel that I love…now the GF and another passenger are not as protected because of no wind protection. I would love to move up to a full windshield boat, but it would also need to be longer and wider to give me the “operating room” that my more spartan has. As a trade off for now I have an old 1964 Sea Ray 14.5 foot runabout with full windshield which on flat water days fills the nitch for now. I’m in my fifties and remember my parents taking me up north and seeing these boats pulling skiers. It one of those things etched into your mind at a very young age. When I saw the Sea Ray on the side of the road a couple a years ago I couldn’t sleep, I just had to have it. Everyone advised against it, but I did it anyways. Took some elbow grease but she is a nice little boat now…no regrets.

I’ll be down later this afternoon.

I curious about the Alumacraft T-Pro. It’s back in production and want to see, if any, improvements they may have made.

I’ll be there this afternoon!!!!

How long do most people finance a new boat? I have heard that people do 10 years on new boats.

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How long do most people finance a new boat? I have heard that people do 10 years on new boats.

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Ten -twelve is common. Dealers had to get together with lenders for the sake of their business.
Everyone has a different situation, you do what you can afford.

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How long do most people finance a new boat? I have heard that people do 10 years on new boats.

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Absolute insanity. If anyone has to finance a boat for more than 5 years, they can’t afford it. Simple as that.

The depreciation on new boats is absolute madness. The fact that anyone would want to pay interest for 10 years just to buy into massive depreciation only shows that fools and their money are VERY easily parted.

Grouse

Your absolutely right grouse, no one in their right mind would do that. Thank God I’m nuts. There is nothing like soaking a line or dragging the kids and grandkids around the lake. You are right I can’t afford my boat, but if someone will borrow me the money then I will buy it. I’ve operated this way all my life and have more than I’ve ever dreamed possible. Lord knows the interest I’ve paid, but I’ve never walked or defaulted on a loan. Its a case of depreciation vs devaluation everyday your boat and your money has less value. I can enjoy my overpriced undervalued boat on the lake, the savings account? Unless just having money turns you on, what’s the sense, not for me.

CRC, everyone is free to make their own decisions in this life. I mean this sincerely, I’m glad it’s working out for you.

The fundamental problem is that many people do not understand the difference between what lenders are willing to lend to them versus what they can actually afford. The former does NOT equal the latter. There are a LOT of people out there who do not understand this, however.

All I can say about depreciation and devaluation is that my 3 boats are all currently worth more than I paid for them. It’s a wonderful thing to be in a position to buy if the price is right when others HAVE to sell at any price because they over-extended themselves with toys they could not really afford.

Obviously, this situation won’t last forever, all boats eventually depreciate and the cost of ownership and maintenance is always an expense.

And if anyone’s money is losing value at all, much less as fast as their boat, they really need to see a professional financial planner. There is advice out there that worth paying for and a good fee-only financial planner is worth every penny. And then some.

Grouse

You’re a dream killer Grouse…….dream killer. However right you may be.

evvvvry party needs a pooper
that’s why we invited you
party pooper, party pooper

I looked at Yar-craft, Ranger and Skeeters… All nice. Not in the market to buy a pontoon but I did see a wood sided pontoon for $129,900 !

Quick boat loan calc online, $40000 boat, 3%, 10 years, interest paid total $6400<.

Why is this bad? $650 a year to finance a dream boat for a person seems miniscule to me. I don’t watch the news, but I hear enough and lived long enough that crappy things happen everyday to people, life is not guaranteed to anyone and to enjoy it in a freaking sweet boat for the rest of your days seems wonderful. One day I’ll be there And I am going to finance the ell out of it.
You look at a 10yr old boat, and see what its worth today its crazy! Not too much will change in the course of that time in regards to actual boat structure. Maybe electronics will need to get upgraded, trolling motors, etc.
One still needs to be responsible and make sure they are going to make that payment but cmon, if I die at 50 of a heart attack after years of saving to finance “responsibly” and was going to pick out my boat the next week, I would be in heaven kicking my own

at least yur anticipating making it to heaven … so that’s good

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if I die at 50 of a heart attack

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Jez! Don’t need to get personal!

I think it would be hard to find anyone who took out a 10 year boat loan and did not soon regret the decision. I’m surprised these loans still exist.

-J.

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I think it would be hard to find anyone who took out a 10 year boat loan and did not soon regret the decision. I’m surprised these loans still exist.

-J.

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They’re only detrimental if one is still overextended with the lowest payment option. I chose a ten year note for the “life’s unknown” factor. Pay as much as you can per month, and have a low payment if things turn south for awhile. I wouldn’t recommend a 10 year if that’s the only way you can afford the purchase, though.

They are very helpful terms for those of us that have seasonal incomes, which can vary season to season.

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I think it would be hard to find anyone who took out a 10 year boat loan and did not soon regret the decision. I’m surprised these loans still exist.

-J.

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They’re only detrimental if one is still overextended with the lowest payment option. I chose a ten year note for the “life’s unknown” factor. Pay as much as you can per month, and have a low payment if things turn south for awhile. I wouldn’t recommend a 10 year if that’s the only way you can afford the purchase, though.

They are very helpful terms for those of us that have seasonal incomes, which can vary season to season.

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….and these are among the many, many reasons people like this should not take the loan.

-J.

One thing to remember is that you only pay all that interest if you take the full term to pay off the loan

I’ve got one of those crazy loans you’re talking about, but I did it for the potential unknowns that can come up in coming years.
I currently pay well over my monthly payment and will have it paid off much sooner than the full term. Thus saving a ton of interest
BUT. It keeps my minimum monthly payment low, which allows me some flexibility if I desperately needed it at some point in the future.
It also helps because now my boat is worth more than I owe, so if I had to sell it I could get out clean.

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One thing to remember is that you only pay all that interest if you take the full term to pay off the loan

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The problem with the thinking is you pay off the interest to the bank FIRST. over half the payment is to the bank for the first 1/2 of the loan term.

Now, when I turned 21 I wanted a fishing boat I would keep for a while. I bought a brand new boat $30k. I took a 7 year loan out on it and paid it off in 5. would I do it again? NO. Do I regret it? NO.

That boat has brought a lot of great memories and I still have it and don’t plan on selling it for a long time. When I am in the market for a new boat, I will take the financial advice of my Grandma.

“Any large purchase i.e. house, make the expected payments to yourself for a year before you buy it. that will show you can afford it and then you will have that much more for a down payment.”

“car loans, 3 years max. If you cant pay it off in 3 years, you don’t need it. same monthly payments to yourself rule applies”

“toys: save up and pay cash.”

The toys rule is the tough one for me.

another option would be to buy a cheap boat and use it while you save $$ for a dream rig. Then you can walk into a dealership and wave the stack of cash at them, get the best deal and pay ZERO interest or better yet, keep your eye out for a 1 year old used boat that somebody got in over their head with, then you don’t pay sales tax or take the huge 1st year depreciation hit. You might have to sacrifice a few choices the previous owner made (colors/options) but at least you saved a TON of $$.

If you can’t pay cash you can’t afford it. Ask Dave Ramsey about loans. The borrower is the salve to the lender.

Dave Ramsey

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If you can’t pay cash you can’t afford it. Ask Dave Ramsey about loans. The borrower is the salve to the lender.

Dave Ramsey

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That’s absurd. I think most here would still be saving up for their first house if that was the case.

Your right on the house because is really more of an investment. This guy changed my life. He can be a little over the top at times but some great stuff. I pay cash for everything. If I don’t have the money then I don’t buy it. I would love a brand new Walleye rig for $40,000 but until I save enough pennies to spend that I will be riding in my Crestliner Sportfish that is payed for.

I can’t tell you how much more I enjoyed my truck after it was paid off. You see I had a truck loan before I listened to Dave. Never again will that happen. Everyone wants to keep up with the Jones now days and we wonder why 50% of Americans live paycheck to paycheck. The end.

I took out long term loans on both of my boats. Paid the first one off in two years and should have the second one done in four. If you don’t like to borrow money, don’t borrow money. If you want a new boat and you can swing it, don’t let some grouch stand in the way of your dreams.

Two of my best friends in high school had their fathers drop dead in their forties. I for one am not going to waste my life saying ” maybe next year “.

Good Luck.

Should have been called the “Pontoon show”. One of the most pretentious events I’ve ever attended. Not one 2010 pro guide in the entire building. Not impressed.