The great sell off of 2020

[Sugarcharged]

They have 2017 195 listed for 36K basically, crazy I bought an 18 from them in April for 32K with 30 hrs on it

You got it just before the price jump started. But boats becoming available and taking longer to sell at least here in the Midwest it is a clear sign in my opinion that availability will increase moving forward and prices will drop. I'm counting on it, let's see.

 

[Sugarcharged]

I see dealers advertise online but they actually don't have the boats on the lot or in inventory.. Take lists on their websites with a grain of salt.

Agree with you on new boats, but on used, they have posted detailed pictures on their lot here in Indiana, those used boats are sitting there.

 

[Cyclonegrey]

I see dealers advertise online but they actually don't have the boats on the lot or in inventory.. Take lists on their websites with a grain of salt.

These are advertised as “just received and available for sale”. They have others listed as pending but your right who knows. I’m planning on reaching out tomorrow to see if the one is legit.
Boat show in NJ this weekend. Who knows I may end up with something that’s a non jet. One Yamaha dealer will be there.

 

[bthessel]

I think there are a lot of people that the finances are catching up to them in the used boat market. I know more than a few that were getting the extra money per week that assumed the government would extend it and they didn’t. This drove a lot of the low end used boat market (6-15k). Which drove those sellers to upgrade.

Combined with CARES act required companies to maintain payroll through September 15th to not pay back the money they got. Just in the past week I know of companies doing heavy layoffs when that deadline passed. These are fairly high end jobs in tech companies, banks, etc. People that never thought their jobs were in jeopardy.

 

[Sugarcharged]

You have to be at least 15 to operate a boat in Indiana. You are good if you have a drivers license. If you are 15 or older and dont have a drivers license, you have to pass an education class and carry a card.

Indeed. But it all about common sense. My teenager son had to take an online boating course prior to operate the boat, he did it nicely and agreed it was a good idea and he already had his driver's license.

 

[Sugarcharged]

@Sugarcharged We are hoping for a used 24', possibly a used 21'. The wife is dead set on bringing 29 people each time, a trailer full of food, coolers and supplies, and needing a head compartment since she has a squirrel bladder (slight exagerations).

And of course, no price war. Hopefully next season we can plan on hittin the water together. You go to Monroe mostly?

Yes, Monroe is common destination for us. Good luck for us in getting boats for next season but we have until April/May next year, plenty of time.

 

[Beachcampin]

Couldn't agree with you less on this point. I have ran into a multitude of people whom were not even considering buying a boat now, if not ever. Even talking with salesman and marina's they confirm the same thing. I personally wouldn't have bought one this year and even though it was a far remote thought, I may never have bought one. Maybe a small aluminum fishing boat. Friends, Families and Parents get real funny when they can't do things with their kids and immediate family and social circle. They need to find another avenue. Life is short and you can't get back time, especially with children.

The shutdown may have given you and others a push- I am sure, but don't discount the fact that there are a tremendous amount of people whom bought boats that didn't even consider it nor would have not ever purchased one. And to be quite frank probably should never own one in the first place. Now they either keep them or sell them once they get a full understanding what boat ownership is about, both financially and effort.

Fair enough. I’m perfectly willing to accept there are local variations. Just not what I’ve seen and maybe it will change. We also have lots of water, so I’m not as concerned with overcrowding, though party coves are crazy, but always have been. So many boats here even before covid and many many still want one.
Supply chain issues are real though and will not catch up instantly.

 

[212s]

I think there’s a bit of a faulty assumption that the people who got boats this year did so on a whim,

I can't forecast why or how, or if it was all a bust, but I can say that we were waiting for the right time to buy new for the last couple years. Almost happened last year, but I wasn't a fan of the colour choices (grey hull is not something we like)...luckily this year brought colours we liked and BOOM, new boat came home with us. Luckily we were also not affected by the COVID restrictions and we could continue as usual.

Having said that, I think boredom and a "free" paycheck help spur on sales, and now up north we're seeing a glut on returns/trade-ins. This past year has seen the first time dealers ran out of stock, and the first year dealers have a lot of new used boats dropped in their yards. It's a year for the books for sure.

 

[Epsmith19]

The market is still tight here in Charlotte NC, but I'm still expecting a buyers market in 2021

 

[ScottS]

@Yambers Saw this slightly used 242X E-Series pop up in our local Utah Classifieds.

2020 Yamaha 242X E-series wake boat

$77,499.00 2020 Yamaha 242X E-series wake boat for sale in Clearfield, UT on KSL Classifieds. View a wide selection of Boats W/Motor and other great items on KSL Classifieds.

classifieds.ksl.com

 

[DRAT]

Still tight here in DFW. A few more used boats available but the prices are still high, at least for Yamahas.

 

[biffdotorg]

I agree with you, there should be some sort of boaters class required and a license/permit to show.

Yet in my other recreation, people can buy snowmobiles that go from the showroom to the trail and will perform at speeds of 110+ MPH on trails that are 12ft wide with 2-way traffic, and no testing or classes required there either...hence people die every winter doing that as well. I try to ride in areas with less traffic in that sport too.

Thank goodness they are trying to remedy that in MN. Snowmobile safety is required for all drivers under a certain date of birth, and it includes adults. They don't enforce it heavily, but the law is out there.

 

[Yambers]

@ScottS That is a NICE boat.. A little steep for my comfort zone though... But wow..

 

[sleek98]

In Missouri anyone born after I think 1/1/85, maybe 84. You have to complete a safety class or get a ticket.

I am seeing more and more boats go up for sale here. I think I timed our sale perfectly, our 24' sold in a week for a very good price.

 

[suke]

For me I wasn't planning on getting a new boat. Just put a bunch of money into fixing up my 2009 that I got for a steal the winter of 2018. However, my neighbor was hellbent on getting a new boat and said all of last year I should just sell him mine and get a new one. Boat was paid off, and really wasn't interested in getting into a boat payment. My little one was done with private preschool so I was losing that payment. Almost identical to my new boat payment. So, after reaching out to a few dealers and finding inventory was getting scarce I hopped on the first dealer that actually called me back with a decent deal. Sold my boat to my neighbor, took that money and put it down on my new one. It did help with the 3% interest rate for 15 years, and the no payments for 6 months.

 

[Ronnie]

A salesman at my local yamaha dealer told me yesterday they sold out of their waverunners 4 months ago which usually doesn’t happen until the end of September (they had over 300 of them this year). When asked if a lot of newbies were buying them he laughed out loud as he said, “yes and we are seeing a lot of cracked hulls as a result”. Apparently many new owners like to beach their skis but don’t install keel guards or know how slow/fast to approach the shore.

what blew me away is how many new buyers seem to refinancing their homes to cover the purchase of these water toys. Definitely not something I would do or advise doing but I am very risk averse. If I have to refi my home to buy a boat or pwc it falls under the I can’t afford it so I’m not buying it category. I can rent just about any type of pwc for $200 per day here in NCal. I’d go that route for a season / 5 days before considering buying one if I was a new boater.

 

[HangOutdoors]

All depends on how and what the refi deal was structured at. If it dropped their payment, reduced their interest rate and increases cash flow, it could be a smart decision. Most can get a lower rate on a 15 or 20 year mortgage than on a boat. For instance, with a credit score of 660 you could get un der 3.0%. Most likely won't happen on a boat loan. There are a great many factors. Additionally with cash in hand it may increase the deal discounts. Don't forget, depending on thresholds, you can also write of interest. Equity in a home is dead money just sitting. Won't affect appreciation or depreciation. Every situation is different of course. The whole picture would have to be looked at to determine if it makes financial sense.

 

[sleek98]

Exactly, at one point over the summer a refi on a 15 year could net you 1.99%-2.75% interest rate.

Most boat loans were 4.5-7%. That is a huge savings.

 

[John_D]

I have to agree, dealers here in Florida are advertizing 2021 boats but they don't have them. They are all asking for a deposit, my dealer took a $550 dollar deposit which is fully refundable. Actually, with such a demand for the Yamaha boat series, no dealer would have a problem seeling a boat. I think I would find another dealer that's not going to try and rip you off not only for a high downpayment but to boot forfeit your deposit, that's just crazy.

 

[Sugarcharged]

Indianapolis area here, today's photo on I-465 going North. Boats are definitely shipping.