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Would you buy a new boat today?

Old 03-17-2020, 10:22 PM
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Would you buy a new 100k boat today with everything going on?
Old 03-17-2020, 10:31 PM
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No.
Old 03-17-2020, 10:41 PM
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Yes, assuming you're pretty much debt free, I'm strongly considering doing it and financing it out as far as they will go (240mos?) stay as liquid as possible with reserves to pay it off if needed or when the shit storm clears.
Of course, that being a good move or not varies with every situation.

Last edited by CapeReefGuy; 03-17-2020 at 11:10 PM.
Old 03-17-2020, 11:14 PM
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Originally Posted by reeladdicted15 View Post
Would you buy a new 100k boat today with everything going on?
Ask me another religious question...
Old 03-17-2020, 11:18 PM
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Not even without everything going on.
Old 03-17-2020, 11:37 PM
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A boat at that price is an absolute waste of money. There are a lot of people who have money to waste, then there are those who don't yet manage to purchase that amount anyway.
Old 03-18-2020, 12:16 AM
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I guess in fairness I should have answered NO as no way I'd go 100K but 65-70 yea and likely will
But again all about personal situations and comfort level.
Old 03-18-2020, 12:40 AM
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Yes, in about 12 months after the market price correction.

The heat 🔥 will be cooled dramatically as 2020 plays out.

Ironically I was reading people on this site dismissing Covid19 as nothing to see here. A week ago! Hmmmm.

For the rest of us around the world, it was pretty bloody clear shit gunna get serious. I hope my mates in the USA come through unscathed, as unlikely as that looks atm.

It is a big deal. Global scale. No single economy will come through like nothing happened.

People are going to be a lot worse off as a result. Some prepared better to ride it out, but there will be blood.

Old 03-18-2020, 04:22 AM
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Absolutely not. Be patient and wait.
Old 03-18-2020, 05:21 AM
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Heck no! The recession that many economists have predicted over the past 12-18 months is likely starting to settle in. Let's be honest ..... over the past 10 years (especially the last 4) the amount of annual economic gains seen domestically- and worldwide has been unprecedented other than the war-years of the 1940's. There was no way that the economy could continue on this path.

And just like 2003-2008, many people today have over-spent on luxury items and are paying a monthly note on fancy trucks, big boats, large houses with fancy swimming pools and all kinds of other things they can't afford. Unfortunately, the chickens are coming home to roost. And there is about to be a gluttony of $100+k boats on the market in the coming 12 months. Would I buy one today? Nope. Would I LIKE to have a 32YF ..... sure!! But I have what I need. She's not fancy but I can fish and cruise just about anywhere I want. My house is paid off. No debt and I'll happily continue to pad my bank account for retirement in the next 15 years. That said, the kids and wife are doing a pretty good job of spending what I put in!!

While I protest a 100K purchase on a recreational item ...... I do a fancy of that 26 Regulator with twin Suzuki's 200 in Louisiana advertised in the Trading Dock!! That's a nicely managed boat.

Last edited by chrisrack; 03-18-2020 at 05:35 AM.
Old 03-18-2020, 05:35 AM
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If I hit the Powerball, yes for sure
Old 03-18-2020, 05:47 AM
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Yes, just did.
Old 03-18-2020, 05:53 AM
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Absolutely.......still counting down the days until my boat is finished.

Other thing that will change is the amount that I finance now with all the free money out there.
Old 03-18-2020, 05:55 AM
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Making that kind of expenditure now would be foolhardy for several reasons.

1) You have no idea what restrictions might be placed on your usage of the boat in the future due to coronavirus.

2) You have no idea of the future impact of coronavirus on your family. What if you, your partner, or a family member loses their employment permanently? What if any of them get sick? What if any of them are in the small percentage of people that don't make it.

3) What if the market ends up down 50 or 60% and stays there for years?

4) Lastly, when this all ends, and things return to "normal", what if the boat manufacturers need to slash prices to move inventory?
Old 03-18-2020, 06:41 AM
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As we enter spring, how many boat shows will be cancelled? If not cancelled, how many will show up? Even if people show up, how many wii be buyers right now.

I assume that boat show inventory has already been built or is in process. Conclusion....boat prices will be dropping dramatically.

I love the posts that are two months old where the seller says “priced for quick sale” or “lower price for this week only”.
Old 03-18-2020, 06:51 AM
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Originally Posted by rickboat View Post
Making that kind of expenditure now would be foolhardy for several reasons.

1) You have no idea what restrictions might be placed on your usage of the boat in the future due to coronavirus.

2) You have no idea of the future impact of coronavirus on your family. What if you, your partner, or a family member loses their employment permanently? What if any of them get sick? What if any of them are in the small percentage of people that don't make it.

3) What if the market ends up down 50 or 60% and stays there for years?

4) Lastly, when this all ends, and things return to "normal", what if the boat manufacturers need to slash prices to move inventory?
We do have a good idea how this is all going to play out. I know it's hard to find, but just look at the news coming out of China and South Korea. New cases are down to basically nothing, deaths have ceased, Coronavirus hospitals are closing, all stores are re-opening (Apple), and people are going back to work.

We are simply 3-4 weeks behind them.
Old 03-18-2020, 07:07 AM
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Regardless of what happens with COVID-19 moving forward, chances are that it's driven the country into a recession and there will be lasting impacts.

I sold my $100K+ boat back in December and am in the market, but had been more passively looking. I think there will be some distress situations coming and I am going to be ready.

I can already see posts coming about taking advantage of another's misfortune. I look at it differently. If someone extended beyond their means for a high ticket discretionary item like a boat, that's a tough pill to swallow, but we've all had to learn tough life lessons. And, if I'm not the one that's going to get the deal, someone else is. So, why not me?
Old 03-18-2020, 07:15 AM
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Originally Posted by majschaefer View Post
we do have a good idea how this is all going to play out. I know it's hard to find, but just look at the news coming out of china and south korea. New cases are down to basically nothing, deaths have ceased, coronavirus hospitals are closing, all stores are re-opening (apple), and people are going back to work.

We are simply 3-4 weeks behind them.
^^^^^^this
Old 03-18-2020, 07:18 AM
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I hope you are correct, but that may be overly optimistic. South Korea did extensive testing early on and quarantined those that were sick. China is expelling western journalists so who knows what’s really going on there. Having lived there, you can’t trust what that government says.

Taking a pessimistic view, we have Italy and possibly Europe. I am in the Keys at a private campground and there are tons of Florida spring breakers arriving daily. We are not taking this seriously enough!


Originally Posted by MajSchaefer View Post
We do have a good idea how this is all going to play out. I know it's hard to find, but just look at the news coming out of China and South Korea. New cases are down to basically nothing, deaths have ceased, Coronavirus hospitals are closing, all stores are re-opening (Apple), and people are going back to work.

We are simply 3-4 weeks behind them.
Old 03-18-2020, 07:22 AM
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I wouldn’t but I would suggest you guys run out and buy buy buy. It’s good for the economy.

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