Keeping Up With the Jones- $145,000 Walleye Boats

The boys and I hit the Duluth Show up today. Got out of there cheap compared to some people

I swear it was only a couple years ago that a top of the line rigged walleye boat was $100,000.

In 2024 you can now finance a walleye boat pushing $150,000 for 30 years… Crazy

Makes a new Hewescraft 240 Ocean Pro Hardtop seem like a steal at $121,900 lol

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yep, pricing a 2024 warrior 238 right now and i bet my wife will crap when i tell her. maybe i wont tell her

what are they charging for interest

grizzly wrote:

what are they charging for interest

I didn’t ask, just overheard a conversation and 30 years was brought up.

B-man wrote:

<div class=”d4p-bbt-quote-title”>grizzly wrote:</div>
what are they charging for interest

I didn’t ask, just overheard a conversation and 30 years was brought up.

crazy to borrow money for that long

I paid almost half of that for my first house. Holy $!it I’m old.

blackbay wrote:

I paid almost half of that for my first house. Holy $!it I’m old.

kinda what i was thinking of myself. someone would of told me years ago i would spend this much money on a boat i would have said they were crazy. but we cant take it with us and dont have to give it all to the kids

BTW- most Houses are not worth that much, the value you get is land and house, talk w/your insurance person,for the replacement value of your house. That number is higher than the real value too, they will hopefully replace the square feet of what you have with all new. So buy the boat! Or not if you have to finance. Only finance things that appreciate, so back to the house or education if you are young. Very few things(2) predictably appreciate.

What percentage do you think of high end walleye boats are financed ? No judgment genuinely curious . Anyone have any insight ?

isu22andy wrote:

What percentage do you think of high end <em class=”ido-tag-em”>walleye boats are financed ? No judgment genuinely curious . Anyone have any insight ?

$100k + boats…my random guess is fewer than most people think

I’d bet the number of boats in the $30-80k range that are financed is more than most people think

Longer boats with bigger motors is something to consider as well. Ranger biggest rig was a 621 with 300hp at one point it was a 250hp…now it’s 622 22 ft with 400. Bigger toys for bigger boys? It’s more boat than when you looked last.

It don’t sound like much if you say it fast.

I like that white Ranger with the white motor! Hard to find that combo around here.

Agree…

buckybadger wrote:

$100k + boats…my random guess is fewer than most people think

I’d bet the number of boats in the $30-80k range that are financed is more than most people think

I think this is spot on, I doubt many boats above $100K are financed, but I could be wrong. I would imagine most people taking out a loan on a boat top out around $75K.

My wife was shocked to hear a salesman selling someone next to us on a 7% 25 year loan at the boat show. I cant imagine being underwater for 20+ years on a boat.

As for what’s being financed??

I have no clue, but I’m guessing “most” people aren’t jumping into a brand new $50,000-$150,000 boat from scratch with nothing down.

If they’re spending that much coin they’re likely already in a boat worth something and hopefully have it paid off or close to it.

A 20 year loan on a $100,000 boat at 7% would be around $850 a month (FOR TWENTY YEARS!!) with nothing down, and cost over $200,000 at the end of the term.

What’s that saying? A fool and his money…

Every time I look at new boats it reminds me how much I love my older paid off boat lol. If my outboard blew up tomorrow I’d hang a new 4-stroke on her for a fraction of the price of a new rig.

I saw the same thing at the boat show in Mpls last month. I climbed in and sat in a bunch of them. Too rich for my blood.

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Many years ago I was walking down a row of boats at a boat show and heard this:

Guy #1: Look payments are only $99 a month!!

Guy #2: Yeah forever.

This also tells you how long ago this was and how old I am.

I’m guessing someone trying to keep up with the jones won’t make 20 years of payments and will never pay a boat off. That boat will be traded in 5 years for the newest greatest boat.

With that said, that white Ranger is very nice looking!

Speaking of expensive The 10 Most Expensive Yachts in the World
1) History Supreme ($4.8 billion)
2) Eclipse ($1.5 billion)
3) Streets Of Monaco ($1 billion)
4) Azzam ($600 million)
5) Motor Yacht A+ (old name Topaz) ($527 million)
6) Motor Yacht A ($440 million)
7) Dubai ($440 million)
8) Radiant ($320 million)

BK’s is climbing the list.

grizzly wrote:

what are they charging for interest

Noticed a couple at our boat show last week said 8.99%.

One was on a wake boat that was listed at 209,000. 10% down and $1700/month for 20 years was what was on the poster. Comes out to about 430,000 all told

^^^^ (B-man barfs in mouth) ^^^^

Side note: The older I get, the more often I play the opposite version of Keeping up with the Jones’s.

…I’ve been known to hang on to some old stuff, despite many parts and hours being shoved into them to keep them rolling as a challenge…especially if my wife comments about not liking something or saying I should “get a new this or that”. A few weeks ago she noted she saw a rust spot about the size of a dime on the cab corner of my daily 2013 F150 with 105k on it when I met her and our girls at a fundraiser in town. She said it “is time to find a new one.” Therefore, the next week I drove the old 94 F150 on propane with no back bumper and a medium amount of rust to anger her more. You should have seen the look on her face when I dropped off lunch to her and her friends at the hospital and squeezed that thing in between their rows of $50-60k SUVs

To the topic of new boats, I’d love nothing more than to add a mid 90s heavy flat bottom with a 25-40hp on it to the collection. Bonus points if it’s a little beat up and proven against some ice sheets. I won’t have to go to a boat show either, and there’s a decent chance the wife won’t know I purchased it

That’s insane when you look at the real costs. Besides the ungodly amount of interest, remember if you keep it for the life of the boat, you’ll need to repower it. Those engines only have a life expectancy if about 2500 hours. So add another 45k to the cost of ownership

Before Covid Boat prices where lower. Then Covid hits, supply chain issues, goverment printing money inflation out of control. The price of everything increased greatly. Now inflation is coming down, supply chain is improving but prices are slow to fall. All prices, Boat prices, food prices, gas prices, home prices and so on, could fall if, government quit spending,to curb inflation and people slow spending. Think that will happen? Likely not.

My friend was looking at a 2023 Lund Adventure series last spring with a 115 hp outboard, bow mount, 2 graphs, and a trailer. The dealer quoted him $53,500 for one last March. That conversation ended pretty quickly.

Low and behold, the exact same boat was still for sale 6 months later in September for $38,500.

Not saying that all boat prices are like that but demand changed by about $15 grand just over the course of one boating season at that dealer.

The chairman of the federal reserve is on record saying that most prices are not going to fall back to pre Covid levels. Rather, wages will catch up instead. He said if prices dropped to pre Covid levels across the board, people would lose jobs and the economy would go into a recession. He also said currently inflation is 3.1% and the average inflation rate is 3.4%. He wants it to drop down to 2%.

My first house when getting out of the service was $15,500. It was a flat where I collected $110 rent on one half so that the half I lived in was $40. Great times for a single guy when one weeks pay plus rent collected, paid for my total months expenses.
Will the boat market retreat somewhat, maybe if the economy tanks. With ten year old glass boats going for what they cost when new, The only people really hurt are those not having a boat to trade in when buying new.
You will never get back to what things were, my first Suburban cost #3200 now $80 to $100k

Yet another (yearly) thread of people complaining how other people spend their money.

There are people out there who can spend $100,000 on a boat and still feed & clothe their family. There are also people out there who can drop $250,000 on a boat. It doesn’t matter what we think, it’s their money. Only you can decide what you can spend for a boat and what it needs to do. Some guys just need something that floats and runs. Others want some creature comforts. Still others want all the bells & whistles. And then you have others that can afford anything thats out there.

Does anybody here think James was a fool for spending all that money for his 238? Does anybody here think James cares what anybody here thinks about it?

I understand why people post the subject, but the same subject has been posted every year for the last 20+ years. The only thing that changes is the amount of the boat and interest.

Only judgy thing I’ll say is its not smart to finance things that depreciate, and unless you are buying a used canoe it will depreciate ( i bought a canoe used it for a decade and sold it for more) Land & education are worth financing-my 2 cents