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new boats
Boats: Buy new or used? Depreciation question?
Can someone help me understand the rationale of buying a new boat. I'm looking at the following boats:
Yamaha SX230
Regal 2400
Sea Ray Sundeck 220
Chapparal 230 ssi
Rinker 232
When I look at the NADA values, they all behave similarly. They lose the most value in the first 2 years. All boats depreciate similarly. ~ 7000 in the first year, $6000 in the second year . . after about 4-5 yeras of age, they tend to lose 2000-3000 in value each year.
None appear to stand out at holding their value better (however, because models change every few years, I'll admit that this isn't ver scientific).
Anyway, who in their right mind would buy new? Is there something I'm missing in the numbers? What's the draw (other than the new-boat smell).
You're going about this all wrong. When you buy NEW, you're buying Peace of Mind in the fact that the vessel will start every time, and when it doesn't, the dealer will fix it with little or no cost. Then the hull will be free of defects for at least five years, the powertrain hasn't been abused, and there aren't any hidden issues. With a used boat, you don't have these assurances. Boats loose value, yes, but not the numbers that you've posted. If you only keep a boat for one or two years, you shouldn't be buying a boat to start with. I've NEVER lost the numbers you've posted, even after 10 years of ownership, I average only a $12k deprecation. The difference is that I keep my boats very well maintained, cleaned, polished and covered. So my boats look and run like a new boat even after 10-12 years. If you don't maintain the vessel and treat it like crap, then yes, those numbers may be correct.
I've not bought a used boat ever. I always buy new boats. The resale value is relative to how well you maintain the boat, or the lack there of. I keep ALL of my paperwork from time of delivery to the day I sell the boat. I also keep a spreadsheet of expenses as an on going record and update the spreadsheet with any money spent. It's easy not to maintain a boat, most people don't.
Then there's the issue that a new boat can be purchased for below full MSRP if you know what you're doing. So that changes the depreciation rate considerably from day one.
The New boat smell is nice, but not what I'm after. I know my purchase is covered under warranty and I'm the first owner. I don't have to keep tossing money at it to know it'll start when I turn the key. There aren't bugs in the bed, There isn't some hidden damage from an accident, abuse or neglect. I have peace of mind that the hull is water tight, and that when I go out on the water, I'll come back to the marina at the end of the day safely.
If you don't think those are important things WORTH buying new, then you go ahead and buy that used boat with questionable background. I watched my dad decades ago struggle with his used boat. He was the person to watch on everything NOT to do from purchase to the day he got rid of the nightmare. He had nothing good to say about boating and tossed money at the lost cause for two years. I on the other hand, have nothing but great things to say about boating and my experience for over 40 years now. I replace my boats every 8-12 years, whether I want to or not. I can say that all of my boats are 100% reliable and start whenever I turn the key. I'm never the person at the marina trying to figure out why the boat won't start up and disappoint everybody for a day on the water.
I ask you, how much is that worth?
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Duck Hunting Layout Boats Texas
{ 2 comments }
Splash mountain!!!
Hi,
I came across your blog recently and wanted to ask if you would please consider placing a link to my website called Boating.com?
It is a resource that provides hundreds of used and new boats for sale, as well as reviews, tips and buying guides for anyone interested in boating.
If you think it would be of use to your visitors, would you please consider adding a link to my website on your page. We are happy to offer you a 10% discount to our Marine Store if you do so.
Here is the link you could add: – the complete boating resource.
Take care and hope to hear from you soon.
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