Yikes!! New boat prices are unreal

I was contemplating about putting my Lund Impact up for sale, but after looking at new boat prices, I may reconsider. Holy crap! Inventory is slim and prices are through the roof!

Yep. It’s the weirdest depression ever.

Not depression, inflation.

When government prints money like toilet paper expect it to have the purchasing power of toilet paper too!

We need to go back to a gold-backed currency system

They are going to get higher soon . Mr Trump has imposed a tariff on aluminum imports causing the price to increase 10%.

Get rid of your kids and the money flows like water

gimruis wrote:

Get rid of your kids and the money flows like water

That and Covid. Other than the 2-week unpaid furlough I had, once we became empty-nesters in late March the cash has been piling up.

HRG

Hot Runr Guy wrote:

That and Covid. Other than the 2-week unpaid furlough I had, once we became empty-nesters in late March the cash has been piling up.

Ya its just amazing how much more time, money, and energy a guy has without kids around isn’t it HRG.

Just bought a new boat this last week, picked a new, year old model and got what I thought was a fantastic deal. There is no way that I could have afforded the boat new in this year or next year’s model.

And without kids all your time and money is consumed on a fishing forum… kids are expensive, but probably the best return on investment ive ever had the pleasure of experiencing. Even with kids, im seeing my savings grow. But to the point of a previous poster, my purchasing power is sinking.

its the same with trucks too. i went browsing at the prices of Tahoes as my wife would like to purchase a camper and I need a vehicle that will haul 7 people. Great googly moogly.

Boat prices are just ridiculous. I looked a 15 yr old pro v and everyone wants 30+ grand for them!

gimruis wrote:

Get rid of your kids and the money flows like water

17 year old senior – i can see the light at the end of the tunnel. Now the million $ question is will I have enough body or mind left to enjoy it ????

hnd wrote:

its the same with trucks too. i went browsing at the prices of Tahoes as my wife would like to purchase a camper and I need a vehicle that will haul 7 people. Great googly moogly.

Boat prices are just ridiculous. I looked a 15 yr old pro v and everyone wants 30+ grand for them!

Was a Pro V even 30,000 new 15 years ago ???

Looking at my invoice from my 2014 Impact to a comparably decked out rig I found at a local dealer..wow. They want 51k for a 2020 Impact. Really???

Dealers and manufacturers have just been very successful at getting customers used to paying a LOT more for things. Once they cracked the code and figured out that there are many, many buyers who will simply find a way to buy, no matter what the price is, they then started pricing acordingly.

Now with so much real-time data, manufacturers can raise prices and almost instantly see if and where sales start to be impacted by the price increase.

Cheap financing has been a way of life for soooooooo long that it has enabled customers to upsize every purchase because interest costs are a much smaller percentage of the overall price compared to historic levels. Back in the 1980s, if you could get 9.9% on a 3-4 year auto loan, you felt like you robbed the bank.

Also, the bottom line is that despite a lot of political BS about how one party is trying to “crash” the economy, the fact of the matter is we are riding a hot streak and there are PLENTY of people out there who have benefitted.

We just had 17 new enrollments in the private school my kids go to. 17 kids, all from one Stillwater development. Parents got together because they were fed up with the local public school situation and just moved all their kids at once. They toured on Thursday and they all came back on Friday and wrote checks and paid for 17 full year tuitions in one day. So much for the “tanked” economy theory.

Grouse

The problem is 2 fold

1. The banks don’t mind going out to 20 years on some of these higher end boats

2. The buyers don’t mind paying almost double the price in exchange for lower monthly payments.

3Rivers wrote:

The problem is 2 fold

1. The banks don’t mind going out to 20 years on some of these higher end boats

2. The buyers don’t mind paying almost double the price in exchange for lower monthly payments.

Ding ding ding!

Paycheck to paycheck living at it’s finest right there. It’s almost inexcusable but there are so many people that do not understand how intesest works.

I just can’t believe a boat that is 10-15 years old is selling for just under the same value as it was new. My boat is worth more now than what I bought it for.

There in lies my conundrum. My “needs” outweigh my “wants” in this market. I know I’d have no problem selling mine, but I may not like the price of my new one.

I saw a Bill Dance episode from the 90’s on YouTube the other day. He was talking about equipment and said, “whether you’re fishing from the bank or out of a $20k bass boat…”; I laughed. Now you can’t even buy the engine for a bass boat for $20k.

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I’m hoping with all the new, 1st time boat owners out there, that the market for a newer used boat will be good in a couple of years. “til then, I’ll keep saving!

The river was busier than I’ve ever seen it this spring and summer. Values are absurd and so are banks that are handing out money like parade candy. A correction will come. It may not be tomorrow or next year, but it will come. After the last run of bailouts there were no new incentives for banks to change their ways. If low interest rates are what make depreciating assets affordable for you to purchase, there’s an issue with the purchase.

For those looking to purchase new, I’d anticipate this coming Spring to be even more costly. Interest rates are staying down, supply could still be down from the Covid mess, and people view boating and RVs as safe recreation during a pandemic. High Demand + Low Interest Rates = Record Sale Prices.

I have a 2000 17′ Skeeter tiller with a 2014 Yamaha 70 HP. Very low hours since I just did’t have time to use it the last couple years. And I have another boat I use for small water. This a glass boat that worked great in big, rough water.
It also has power steering if you can believe that! I got one of the last Mertins power steering setups that Tim Mertins kept.
The cover is a little dusty. Been shedded it’s whole life.
If you have any interest shoot me a PM.

Don’t forget the power of “keeping up with the Joneses” mentality of people to spend so much on toys. Also the increasing amount of attention people crave so they gotta have the newest, greatest, biggest, flashiest. Of course the outdoors media and marketing doesn’t help either.

All of this buying activity at escalated prices when the average person’s purchasing power has only increased by 12% in the last 42 years… hmmm… They must be all CEO’s…

Or all the taxes.

Rodwork wrote:

I just can’t believe a boat that is 10-15 years old is selling for just under the same value as it was new. My boat is worth more now than what I bought it for.

i paid 5k for my 90 pro v which i thought was fair. ive been offered 10k for it like what?!!

My Crestliner is 20 years old and I was thinking of repowering it to a 175 not gonna happen Yamaha SHO rigged out the door pushing $17000, hell when I bought the boat in 2004 I paid $14,000 all in, and I thought that was to much. Only 182 Tournament I could find at the time, and still luv this boat..

Yep just in the process of trading in my Skeeter for a warrior. Spending that much money for a better ride is crazy lol