New vs Used and very torn looking for advice

[robert843]

So I have my heart set on a 2015 24ft boat but my conscience is having a tough tough time swallowing the $50,000 pill. We already have a 20 ft deck boat that is paid for currently and do love our current boat but its time to up grade. So here is my dilemma I have negotiated what I feel is a fair deal on a 2015 AR240 $49,683 out the door this includes all fees, taxes and registration. I have also found a 2011 ar240 with 60 hours for 25,900 from a private individual. Does the 2015 justify the $25,000 difference. I know there are many changes to the 15 but will I still be happy with the 2011 if I go for it or should I just bite the bullet and get the boat I want now or live with the 2011 for a few years and upgrade to a used 2015 down the road. The big difference to me is I can pretty much pay cash for the 2011 or my credit union will give a 1.9% loan for it for 60 months if I didn't want to fork all that out at once and I would have to finance a fair portion of the 2015 on a long term loan as I couldn't pay $50,000 with out it hurting me financially. Any thoughts or suggestions here would be great I just have a feeling if I get the 2011 I may regret it down the road but my bigger fear is to get the 2015 and regret it down the road lol. I do not bounce around boats a bunch I have had our current boat for 7 years and likely if I buy the 2015 would keep 10 years or longer if I bought the 2011 it would be on the premise I would probably up grade again in 5 years.

 

[GTBRMC]

Unless money is no object, I'd suggest the 2011 AR240 - assuming it is in sound running condition. Think about it - that previous owner paid about $45K (going from memory, I might be off a bit) and has eaten $5K per season in depreciation. At 60 hours, that boat is barely broken in and at $26K price point, you will be past the meat of the depreciation curve. If you buy the newer boat, most of the tough part of the curve will be yours to swallow.

Having said that, buying a boat is almost always a bad decision from a strictly financial point. You will have loads of fun and priceless memories. From a semi-financial perspective, will the additional smiles-per-hour you get from the 2015 be worth the additional $24K? That is really the decision I'd noodle. Also, at that kind of price differential, I'd spend a few $$$ to have the used boat gone over by a jetboat mechanic to ensure it is pristine as it likely looks. If he gives the thumbs up, I'd jump on it.

Also, if money is no object, I'd suggest looking at the 2016 242X.

Everyone has a different definition of value and different decision making process. Good luck as you shape yours.

 

[Peelz]

I think YES. if you haz da $. soundproofing...and space....the new tower is much nicer looking. don't forget CARRY TWO EXTRA PASSENGERS compared to the '11.. thats a biggie.

although... for 25,900... SOME of those upgrades could be DIY. it has to be considered.

 

[farrelltravis]

An extra $25,000 is a lot of money. I can't tell for certain, but it seems like even a 2011 24' would be a nice upgrade for you. I know a 2011 AR240 would be sweet in my books!

 

[Murf'n'surf]

I would sit tight until late winter or spring to make a move. I bet you'll start seeing used 2015's hit the market or even 2014's.

 

[BigN8]

Buy the 2011 AR and use the money you save on a jet ski for the kiddos. They will love you for it!! And you will have a blast too.

 

[robert843]

Buy the 2011 AR and use the money you save on a jet ski for the kiddos. They will love you for it!! And you will have a blast too.

Lol I bought two new skis last year and took both of them on the Bimini trip this year thanks to @andy07sx230ho he rode one across I love them.

 

[Wayloncle]

$26K for a AR 240 is a really good deal!
Assuming it's in great shape.

 

[robert843]

I would sit tight until late winter or spring to make a move. I bet you'll start seeing used 2015's hit the market or even 2014's.

I have thought the same but if I go with a 14 or 15 i'm going to have to finance it and it's going to be outside of my cash budget and used both lines are crazy on the interest rates. I would have to do the new boat with the 2.9 interest to justify it but I have thought about rolling the dice and seeing if the re due the 2.9 promo in January or February so I don't have to store and pay payments on a boat in not using durring the winter. The 2011 was used a lot in salt water does that make it something I should steer away from or anything additional I should check on it

 

[justason]

Personally ...i would not hesitate on the 2011. The devaluation in a new boat is big to the point I wouldnt buy new. I would/did take my time to find the hours/price/age that suited me the best.

A "spare" 25k for accessories is a nice chunk of pocket change. Having anything paid for is nicerer!

The expression I have used my entire life for any major purchase is simply this:
The oppertunity of a lifetime comes across every day. Thus murf and bign8 I agree with

 

[Bruce]

You know I like the value of the used boats. I would shop for like new used. Not having a boat payment makes it easier to go buy gas, groceries, beer, etc to enjoy the boat.

 

[robert843]

You know I like the value of the used boats. I would shop for like new used. Not having a boat payment makes it easier to go buy gas, groceries, beer, etc to enjoy the boat.

@Bruce I do agree with you as well. The biggest attraction to me is the higher freeboard on the 2015 but the price tag still sits like a pit in my stomach and even though the 2.9% interest rate is great the 180 month term on a boat really doesn't sit well lol. I'm going to look at the 2011 on Monday and will go from there. What all should I look for issue wise on this? One concern I do have is he told me that the previous owner painted the bottom of the hull black do to staining from the salt water so I'm going to inspect it very carefully to make sure they were not trying to hide hull damage. Also sorry I'm saying this is an AR but its an SX the 2015 I'm looking at is an AR.

 

[jawsf16]

That's a good price on the 2011. No reason to buy new for a Yamaha IMHO. They are very reliable if reasonably cared for.

25 grand in your hand!! Plus they will both bring you tons of fun, but the 2011 will have you grinning and planning upgrades...

 

[SCSTWG]

I am a huge fan of the 2015 models and Yamaha addressed almost all of the owner complaints from the 2010-2014 model years, but $25,900 is a crazy good deal on a 2011 SX240. If it was a an AR240, I think it would have been a no-brainer. Personally, I did not want a boat without a tower amd I think they have significantly lower resale value, but that is just my opinion. You need to decide how important that is to you. The fact that this is a tough call tells you just how good the 2015 model is. I love my 2011 AR240 and I bought it used in 2013. Come this time of year I realize just how short summer is and I am glad that I did not splurge and spend more on a new boat that I can only use 4 months per year.

 

[jawsf16]

$25k will buy a nice aftermarket tower!

 

[robert843]

$25k will buy a nice aftermarket tower!

Read my mind I'm looking around for them now but I really don't need it.

 

[veedubtek]

2011 no doubt, that's a steal. If for some reason you regret the decision later, you can easily resell it for that and not lose a dime. Hell, probably make a few bucks.

 

[Bruce]

Bottom paint is generally considered a negative and to reduce value.

More importantly the slickness of the bottom is important to performance. If that paint adds drag it will slow her down and increase fuel usage.

I would check the condition of the interior, the smoothness of the bottom, the condition of the impellers and pumps andthe quality of work on any modifications. If all of that checks out I would take her out on the water and see how she performs.

 

[msavold]

Ah, @robert843, you've joined a club populated by SO many of us here on the board, pondering new or used! We were torn between a 2012 and a 2015 SX240... For us the difference amounted to about $17,000. Really hard to pass up on three things about the 2015 - sound levels, keel, and most importantly the "newness". But - for us - the spread was just too much in the end, went with the 2012. In the end, noise not as big an issue as we feared (though quieter would have been nicer) and $17k will buy a LOT of repairs. In choppy waters though I often wonder if we wouldn't have been happier with the keel...

 

[robert843]

Bottom paint is generally considered a negative and to reduce value.

More importantly the slickness of the bottom is important to performance. If that paint adds drag it will slow her down and increase fuel usage.

I would check the condition of the interior, the smoothness of the bottom, the condition of the impellers and pumps andthe quality of work on any modifications. If all of that checks out I would take her out on the water and see how she performs.

@Bruce I agree the bottom paint is my biggest fear on this one. We used to keep another boat we had in the salt water year round and it required new bottom paint every two years but that makes me wonder if this wasn't either kept in the salt water or if there is more to it.