Cost of Upgrading

Mike · Addict Joined: 30 Jan 2003 Posts: 536 City: Orlando

How much is is usually to upgrade your boat? I have a 2002 Tige 21V and would like to upgrade to 2003 or 2004 22V. I don't need any bells or whistles. I'm guessing it would be better to sell the boat myself rather than trading it in. It's a pretty vague and open ended question, but just looking for some general thoughts on the idea.

Broccoli B · Posted: Mar 11, 2004 8:46 pm Post subject:

Well, if you take the amount you sell your 21V and subtract that from the price of the 22V then you know how much it will cost you for the upgrade. If you are using financing make sure you factor that in also.

darty · Addict Joined: 18 Mar 2003 Posts: 522 City: Lexington

First off, you should figure out what you think your boat is worth. Then, call your dealer and find out what he/she thinks your boat would be worth on trade-in (I have found that many dealers, if personable, will TELL you that you should sell your boat (or other item) straight out rather than trading it in), and then find out what a rough cost of the 22V will be. Your cost of upgrading will probably be closer to your expected value of the boat and the value of the 22V.

My recommendation - If you're going to sell your boat, do it on the internet or some other form of advertising. this site, as well as wakeworld.com are both great (i have gotten more looks/advertisement off of wb.com Wink

), and also try flipsell.com, as well as other sites that may be out there.

Good Luck!

MX21 · Outlaw Joined: 11 Dec 2003 Posts: 143 City: Austin

Not sure about MN but in TX:

Also factor in how a trade in will affect your sales tax. Trade-In is deducted from the sales price so a $20.000 trade in saves you $1250 in taxes here.

I HATE TAXES!!!!!!

Just one other thing to think about. The difference in retail vs. trade-in rarely makes it an issue. I also look at the time and inconvenience it sometimes takes to sell a vehicle.

MX21 · Outlaw Joined: 11 Dec 2003 Posts: 143 City: Austin

Not sure about MN but in TX:

Also factor in how a trade in will affect your sales tax. Trade-In is deducted from the sales price so a $20.000 trade in saves you $1250 in taxes here.

I HATE TAXES!!!!!!

Just one other thing to think about. The difference in retail vs. trade-in rarely makes it an issue. I also look at the time and inconvenience it sometimes takes to sell a vehicle.

bruttenberg · Posted: Mar 12, 2004 4:16 am Post subject:

MN is the same way. The buyer of your 21V will be the big beneficiary however. He/She will be getting a practically new ride and pay nothing in taxes on the boat as long as they are a MN resident and they buy the boat from you (not a dealer).

Make sure you use that as leverage when negotiating a sale price.

MX21 · Outlaw Joined: 11 Dec 2003 Posts: 143 City: Austin

Sorry for the double post - weird.

Anyway, that is nice that in MN the second owner does not have to pay sales tax - Everytime you buy/sell a boat here the new owner gets to pay sales tax....again. Wasn't there some sort of revolution thing about double taxation?????

Did I mention I hate taxes .....