New boat sales down 18% compared to 2021 and 11% compared to 2019

[BlkGS]

Between a major spike in interest rates (4% us higher since a year ago, or roughly 3x what they were then), coupled with decontenting and declining quality, I think we are going to see a slowdown in sales of most higher cost.goods. Homes, cars, boats, etc will likely all slow, and while I think the sales will slow, I don't think that the average prices will come down much. The pie in the sky stuff, sure. But I don't expect an across the board drop on quality things.

Honestly, there's a few things I could see continuing to rise due to the new versions missing certain features despite charging for them still. High end trucks with massaging seats that are deleted from new models, I could see your really prime examples of those continuing to rise. If I'm gonna pay 85k for a loaded f150 platinum with deleted massagers, I don't think it's unreasonable to think I'd rather pay 75k for a really low mile clean one that has the massagers still. There's probably a few other things out there that replacements don't exist that will keep going up.

 

[mwalker4]

Why companies would give someone a 20 year loan on a depreciating asset boggles my mind. I guess that's what happens when the fed drives interest rates down to zero and lenders are chasing returns. Don't worry when they lose their jobs and their boats are underwater, the government will bail them out.

 

[Epsmith19]

Why companies would give someone a 20 year loan on a depreciating asset boggles my mind. I guess that's what happens when the fed drives interest rates down to zero and lenders are chasing returns. Don't worry when they lose their jobs and their boats are underwater, the government will bail them out.

Long term boat loans existed long before the fed pushed interest rate down in 2020. They've existed through periods of high and low fed rates.

 

[BlkGS]

Long term boat loans existed long before the fed pushed interest rate down in 2020. They've existed through periods of high and low fed rates.

Yup. It's how you sell someone a boat that costs more than their tow vehicle, extend it out over an absurd period of time like a house.