Used Boat Values?

[kenny]

I was looking at TOS and somebody was trying to sell their 9 year old 20' XLR8 for $29,000. The boat & motor are almost a decade old. How much was the boat new in 2006?

[H.Maier]

Lol. Good luck to them.

[GHSmacker]

I'm slowly starting to look at used boats because I'll be in the market soon. One thing I have learned is how proud people are of their boats.

Apparently they don't have near the depreciation of a car or truck.

[JT]

a lot of dudes have them financed for 15-20 even 30 years. So they're underwater on the note and cant sell for less than owed or they get to eat the balance.

[irbjd]

Another problem is new boats are so damn expensive, people selling used boats (even older models) can command a pretty nice price. I bet that same boat new today would coast between $50-55K. I priced a new 21LS from Tran about two years ago and it was $54K with no electronics and maybe a PowerPole.

[kenny]

Another problem is new boats are so damn expensive, people selling used boats (even older models) can command a pretty nice price. I bet that same boat new today would coast between $50-55K. I priced a new 21LS from Tran about two years ago and it was $54K with no electronics and maybe a PowerPole.

When manufacturers start going out of business those prices will have to come down. The market for $50,000+ rolled-edge bay boats has to be limited.
I tend to agree with JT and the financed boat loans for 10-30 years!

[H.Maier]

Very good points. I'd sure like a 20fter. to take my buds out but my little bote's going to have to work for now. Groceries going through the roof and I like to eat too much.

[irbjd]

When manufacturers start going out of business those prices will have to come down. The market for $50,000+ rolled-edge bay boats has to be limited.
I tend to agree with JT and the financed boat loans for 10-30 years!

I think the long-term loans coupled with historically low interest rates definitely plays a part in the rapid increase in prices, kind of like student loans and tuition rates. But the manufacturers are allegedly still turning them out as fast as they can.

[Ibtsoom]

30 years? Seriously? Wonder how many people are still paying on boats that are broken and they never use anymore? I can kinda see 30 years on a house but boats / motors just don't last that long. I financed mine for 3 and thought that was a long time. People do seem to have an unrealistic view of resale on their rigs.. It's not worth what you paid for it 10 years ago.. no matter how bad you want it to be.

I'd be willing to bet that the 29,000 that dude is asking is within 2500 bucks of what he paid for the whole rig when he bought it. I'd also be willing to bet he won't get anywhere near that for it.

[JT]

a lot of times, they'll keep trading it in ibtsoom and rolling it over in the new bote .

like musical chairs, so long as the music keeps playing theyre in good shape w a small monthly note. those bote guys will do a lot of things to make a trade.

[Ibtsoom]

Good lord. I guess at some point they wind up with a 25k boat they owe 80k on. I think I'd just fish off the bank before I did that..

[grown in Tx]

I've been looking into financing a used boat for next year. Supposedly a bank will only give a boat loan on one that is 10 years old or newer. I was wanting to find the nicest 20ish foot bay boat possible for $10k, i don't want/need a $50k dollar boat loan and i can have that 10k paid back in about 3 years. I recently bought a $1k 1977 17' boat to learn the bay in this year and am gonna want a nicer newer boat thats a little more comfortable for the fam. I was stunned by the used boat prices too

[kenny]

Good lord. I guess at some point they wind up with a 25k boat they owe 80k on. I think I'd just fish off the bank before I did that..

People have been doing that for ever, buying things they can't afford.

[Ibtsoom]

People have been doing that for ever, buying things they can't afford.

Kinda flies in the face of common sense if you ask me. The older I get the more I realize common sense isn't all that common at all.

[SCHU]

I would think that the "average" boat buyer at the boat show or where ever signs a contract for as long as they can. Then after a yera or three, when the newness wears of and they havent used it but 2-3 times per year, the payments get really old...common sense goes out the window when looking at a new boat, right?