Boat Price Reckoning

Why would those lunds be 140k lol that makes me want to laugh and puke. At 100k it’s a robbery. Sorry to the guys who buy those at that price. Money doesn’t buy brains

Bearcat89 wrote:

Money doesn’t buy brains

I always say a fool and his money will soon be parted.

Bearcat89 wrote:

Why would those lunds be 140k lol that makes me want to laugh and puke. At 100k it’s a robbery. Sorry to the guys who buy those at that price. Money doesn’t buy brains

They buy them for the same reason guys take European vacations, buy multi million dollar lake homes, have a wife & 2 girlfriends… they do it because they can.

Dutchboy wrote:

<div class=”d4p-bbt-quote-title”>Bearcat89 wrote:</div>
Why would those lunds be 140k lol that makes me want to laugh and puke. At 100k it’s a robbery. Sorry to the guys who buy those at that price. Money doesn’t buy brains

They buy them for the same reason guys take European vacations, buy multi million dollar lake homes, have a wife & 2 girlfriends… they do it because they can.

Still doesn’t make them smart. If I had trust fund money, I guess I wouldn’t mind making dumb purchases either. Or maybe I would, I’m not sure ? But when you bow to a company that wants to bend u over and stick it to ya dry, you kind of deserve a 140k boat that’s really worth 50. And if you look at it like your really getting 40k off, well then the jokes on you. And if you rushed out and bought way over priced toys boats, campers, and all sorts of overly inflated toys and are now way upside down, I guess you realize how much the joke was on you. The bank, the dealer, and your friends got a great chuckle.
I was always taught buy low sell high, this market helped me dump alot of toys I had for a huge profit. Buying at a all time high isn’t a smart financial decision

I’ve always liked your thinking and philosophy on things BC.

Would like to meet you sometime as I think we are cut from the same cloth

I’d bet there’s more 100k boats on payments than ones not . There’s a bunch of people financed up to their eyeballs to keep up with the joneses . I take pride in my scratched up bloody beat up rig . She floats and catches fish . I ain’t got no time to spend wiping her down at the end of the day so the sparkles shine , I got fishing to do .

Why does everybody worry about how people spend their own money? Nobody is asking you to spend yours. I could care less if your boat is beat to pieces or if it costs $20. It’s yours, not mine. If a guy wants to scratch a check or finance 100 grand it’s not my money and I don’t care. Personally I prefer a fiberglass boat for whatever reason. I’ll spend what I want, when I want, and on what I want.

I think there was a thread not long ago where people said to watch their own bobber.

bullcans wrote:

I’ve always liked your thinking and philosophy on things BC.

Would like to meet you sometime as I think we are cut from the same cloth

I’m always available to do a little fishing and shooting the crap

Dutchboy wrote:

Why does everybody worry about how people spend their own money? Nobody is asking you to spend yours. I could care less if your boat is beat to pieces or if it costs $20. It’s yours, not mine. If a guy wants to scratch a check or finance 100 grand it’s not my money and I don’t care. Personally I prefer a fiberglass boat for whatever reason. I’ll spend what I want, when I want, and on what I want.

I think there was a thread not long ago where people said to watch their own bobber.

I agree but it makes me feel good to see alot of guys right now choking on these big loans with variable interest rates. Now their 65-100K boat is worth 35-55K and they can’t move it and the chickens are coming home to roost. Lot of ding dongs inflated these prices now it’s gonna hurt.

Big shots and/ or youtube heros takin er in the shorts. Nothing wrong with that.

isu22andy wrote:

I’d bet there’s more 100k boats on payments than ones not . There’s a bunch of people financed up to their eyeballs to keep up with the joneses . I take pride in my scratched up bloody beat up rig . She floats and catches fish . I ain’t got no time to spend wiping her down at the end of the day so the sparkles shine , I got fishing to do .

100% correct. 90% of those boats are financed and some for up to 30 years. There are very very few people that can afford a boat in that 60-120K range with cash.

“I agree but it makes me feel good to see alot of guys right now choking on these big loans with variable interest rates. Now their 65-100K boat is worth 35-55K and they can’t move it and the chickens are coming home to roost. Lot of ding dongs inflated these prices now it’s gonna hurt.”

“Big shots and/ or youtube heros takin er in the shorts. Nothing wrong with that.”

That is a real weird thing to make a person feel good.

And no boat prices are not half the value as they were a couple of years ago. That sir is not happening.

I don’t wish Ill will on any one.

Bearcat89 wrote:

I don’t wish Ill will on any one.

RIght, I thought that was a really odd comment to make.

They do variable rate financing on boats? If so, that is news to me, heck they barely do ARM’s on homes anymore. And rightfully so imo.

BigWerm wrote:

heck they barely do ARM’s on homes anymore. And rightfully so imo.

That all changed when the mortgage crisis hit.

Not that I am aware of.

Pig-hunter wrote:

90% of those boats are financed and some for up to 30 years.[/quote

That seems downright ridiculous to me to finance a boat for the same term you have a mortgage.

gimruis wrote:

<div class=”d4p-bbt-quote-title”>Pig-hunter wrote:</div>

90% of those boats are financed and some for up to 30 years.[/quote

That seems downright ridiculous to me to finance a boat for the same term you have a mortgage.

I know guys that do 15 years but they aren’t the brightest in the first place. If you have a 15 year loan on any toy, that’s not affordable. But I watch my own bobber and pinch my own pennies. I’ll pick up where they have to tap out when it comes to these over financed toys.

gimruis wrote:

<div class=”d4p-bbt-quote-title”>Pig-hunter wrote:</div>

90% of those boats are financed and some for up to 30 years.[/quote

That seems downright ridiculous to me to finance a boat for the same term you have a mortgage.

While I would never do it, it’s not as crazy as it sounds considering the price point on new high end boats, and the value that they retain. Lots of 20 year old Rangers still going for $20-40k.

Bearcat89 wrote:

I know guys that do 15 years but they aren’t the brightest in the first place. If you have a 15 year loan on any toy, that’s not affordable.

I don’t even know anyone personally that has a 15 year loan on a recreational “toy.” Obviously boats retain their value pretty well as Big Werm just previously posted, but 15 years just still seems a long time to me to pay off something like a boat. Unless its a yacht lol

I dont know anyone either, but when I bought mine I couldve gotten a 20 year loan. I got a 5 year and paid it off in 2.

Boat price reckoning?

I reckon I won’t be buying a new boat anytime soon, I tell you what…

Has that much changed in the HELOC world? I know they tightened things up a bit after ’08, but I would guess with low interest rates until recently, and higher equity due to values rising (if you already owned), that there are a fair number of boats financed on variable rate loans. My late uncle owned a marine dealership and I can still remember him saying that it was home equity loans that kept him in business.

Yeah HELOCs are generally variable rate, but an ARM is an actual adjustable rate mortgage which I dont think is done very often anymore.

Joe Jarl wrote:

Has that much changed in the HELOC world? I know they tightened things up a bit after ’08, but I would guess with low interest rates until recently, and higher equity due to values rising (if you already owned), that there are a fair number of boats financed on variable rate loans. My late uncle owned a marine dealership and I can still remember him saying that it was home equity loans that kept him in business.

Good point. Although if someone went that route, I’d imagine they would lock it in asap especially with how rates are trending.

Ive been watching a handful of boats and they are still dropping hard. It will
Be interesting to see what happens. Even new build homes are dropping fast.

Sure wish it was going to plummet but I don’t imagine it will. My motor will probably need a rebuild due to water getting in through a gasket the last year and a mechanic not catching it when I brought it in last year. The Country View mechanic that just worked on it got it running better than it has since the problem started but said I could have one year or five before she gives out.

I’ll probably end up getting a used boat maybe 10 years old or a little newer if I can swing it. I busted my ass off doing OT shifts every week for a year so I could buy my Nitro with cash. Been a great first boat and I’m glad I never had payments on it. Hope I can afford the next one when the time finally comes.

Dutchboy wrote:

Why does everybody worry about how people spend their own money? Nobody is asking you to spend yours. I could care less if your boat is beat to pieces or if it costs $20. It’s yours, not mine. If a guy wants to scratch a check or finance 100 grand it’s not my money and I don’t care. Personally I prefer a fiberglass boat for whatever reason. I’ll spend what I want, when I want, and on what I want.

I think there was a thread not long ago where people said to watch their own bobber.

I agree, but doesn’t everybody have their own opinions and the freedom to express them? There’s always the option to “keep on scrolling,” as some would say…

With that said, maybe I should’ve kept on scrolling

I’m finally in a position that I can afford to finance this 12’ pro sport fishing canoe for a measly 10 years. While I am excited, I’m questioning how well this rig will handle Mille lacs and superior/Michigan in October?

https://m.media-amazon.com/images/I/61ZofGISzNL._AC_UF894,1000_QL80_.jpg