Interesting, Alumacraft is giving discounts

https://brp-mkt-prod1-m.adobe-campaign.com/nl/jsp/m.jsp?c=%40v1SRKm8vKUAUuNO6O8Lq732SUBO%2BS7mcXqNjaT2Fq7Y%3D&utm_campaign=04%2F02%2F2023-ALUMACRAFT-GUIDED-ONGOING-PROMOSALE-ALUMACASH-TP1-EN-US-OWNERS&utm_source=AdobeCampaign&utm_medium=email&mvo=%40a0Z9Y2jZIEuhl5ZfqdspoA%3D%3D&cid=DM169379&bid=299651561

Could be a result of higher interest rates or even lower demand.

I seen 0% on 1/2 ton Chevrolet pickups again. I’m assuming sales are down. Looks like the beginning of something…..

I’ve noticed a few others offering incentives also. Supply returning? Demand softening? No doubt with inflation and higher interest rates, purchasing power is a lot lower than it was a year or two ago.

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Good timing six weeks ago I bought a new Lund. I got $1000,cover and sun top from Lund. From Hummingbird was $100 off trolling motor and the helix and a high speed transducer. The Alumacraft dealer had no incentives to add. One positive note they must be the only Alumacraft dealer that didn’t have a dash that cracked.

Discount? Incentives? I’m not familiar with these words

I thought in the past, these incentives would start out in January and slowly decrease in value and end about the time of the Northwest Sports Show. They were done by April.

I wonder what interest rates on boat loans are now? My guess is the high-end boats are still doing OK since a lot of those are all-cash buyers, but the low to middle market is starting to feel the pinch.

Regarding loan rates:

I checked my credit union Recreational Loans > $15,000 are at 7.84%.

Gives you an idea.

Like anything else there will be incentives, programs, etc.

Some 0% autos were for like 2022 inventory. So maybe demand has slowed or people are waiting for 2023 models?

When a company sets the MSRP. They can build in room for whatever rebate trips your trigger.

We bought ours from rapid marine. We got 3.8% through them. They couldn’t tell me what the interest rate was until they ran a credit report. All they would tell us is from 3.8% to 7.5% depends on your credit.
They can set the prices any were they like. You have to look at what your getting. I bought a Lund Adventurer it was less then $1000 more then a Crestliner and StarCraft and $2100 less then a tracker. All set up with the same equipment.

stevenoak wrote:

When a company sets the MSRP. They can build in room for whatever rebate trips your trigger.

Exactly my thought. When someone says they got a $1k “discount” off a $75k truck, or $100 off a $4k in boat electronics, I don’t really consider that a discount.

fishingstar wrote:

We bought ours from rapid marine. We got 3.8% through them. They couldn’t tell me what the interest rate was until they ran a credit report. All they would tell us is from 3.8% to 7.5% depends on your credit.
They can set the prices any were they like. You have to look at what your getting. I bought a Lund Adventurer it was less then $1000 more then a Crestliner and StarCraft and $2100 less then a tracker. All set up with the same equipment.

Out of curiosity, which model of the StarCraft were you comparing to the Lund Adventure?

If I remember correctly it was a delta

At 3.8% you might as well borrow instead of paying cash. You would actually be better borrowing at that rate and putting your cash in a fund such as at Ally that pays over 4%
We moved some money around christmas and got 4.9% for 5 years, not Ally though.

Alumacash That’s great.

Capital One had an 11-month CD at 5%. That offer ended March 14th. Move some money into that. Now they have 4.15% for 1 year.

A 3.8% loan in today’s market on a recreational loan purchase straight through the dealer should set off substantial red flags.

Clearly they’re making a boatload (pun intended) on the markup of that item that they can undercut financing. That tells me they have some room on the price to still make ends meet. Make them a lower offer on the purchase price contingent on that same rate.