Shot it to me straight- Trade/Sell/Buy New or Used Boat

ramos777 · Newbie Joined: 07 Mar 2008 Posts: 35

OK- I've got a problem, well its more of an "itch"...

You have all heard this before and many of you may have had this issue.

I bought my first boat last year and loved it. A 2007 Four Winns 200ss with all the bells and some whistles. I've got the tower, put in a $2200 stereo system and really like the boat but...

My wife and I, who arent young anymore, but still think we have some left in the tank love to wakeboard. I've added ballast and the wake is much bigger but it seems like it is almost straight up in the air with a short ramp so the angle is very high. Better than stock but still very steep. Long story short is I want a wakeboard boat bad and she is on the fence and let me tell you some more about our delima so you can possibly give me some advice...

We are upside down on the four winns, how much I dont know? I owe $38000 and its got 67 hrs but mint... NADA says $36500 I'm thinking true wholesale is $30k?

Well, I think my $8k would be better off in a boat that does not depreciate as fast, so wakeboat should be ok provided I can get one for a good deal.

That leads me to this...

Used? got to be carefull cause the wifey thinks that something used could break easier and she is skeptical about buying anything more than a year or two old. Having said that my neighbor has a 2005 XStar with 120hrs fully loaded and is willing to sell it to me for $50k with boards, surf board, and surf sac. Is this a good deal or should I look else where? What type of fianancing can I get on used boats? Can I find someone who would "brooker" a deal and buy my boat at wholesale and fianance his boat for a cost?

New? Trading it in would be bad but I really dont have the time or patients to sell it because we use it every weekend. Are there any new deals out there that would be worth adding my $8k too? Are there any low APR's that would help?

My wife loves, loves Malibu's so its hard selling her on any thing but bu's or else I would look at a Moomba or Supra. She will NOT even look at Tige's...

Does any of this make sense? Help please?

grip01 · Outlaw Joined: 30 Apr 2008 Posts: 120 City: altus

This thread is a good example of the society my son will have to live.The instant gratification generation.I saved for years riding behind garbage just to buy a five year old boat.I payed cash and owe nothing to nobody.If I where you I would take a loss on your boat and settle for something used.Something else I like about used boats is the fact that they have already depreciated from retail and are easy to stay on top of along with getting out of when the time comes.If you buy a new boat you will be in the same boat.

Chattwake · Posted: Jun 19, 2008 6:16 pm Post subject:

grip01, 2nd. Don't start down the trail of getting more in debt than you already are. Your best bet would be to take your time selling your boat and try to minimize your losses. if you have to, pay off the 8k and start over. I'd look around for a used 06 x1 or x2 or an 04 05 210 SANTE. The market's really slow right now, and your best bet would be to find some who has to get out of a boat quick. You know btw that cc has a 5 year warranty on their boats...

Interest rates a really low right now, but it looks like they may start creaping back up soon.

Chattwake · Posted: Jun 19, 2008 6:17 pm Post subject:

An 06 VLX would be a good choice too.

Commodore · Ladies Man Joined: 20 Jun 2005 Posts: 11636

ramos777 · Newbie Joined: 07 Mar 2008 Posts: 35

OK, I knew you guy's wouldnt hold any punches. And I appreciate it! So, you all reconfirmed what I knew I need to sell my wife on, and that is getting a quality used boat.

Would the 05 XSTAR w/ 120hrs for $50k adding another $4k for the rest of what I owe on my boat after paying off $5k be a decent deal? Would the $4k in extra premium from my boat be "somewhat" salvaged in a deal like this?

Chattwake · Posted: Jun 23, 2008 10:53 am Post subject:

You'll be more upside down on that Xstar in 3 years than 8k. 50k for that boat would be an average deal. $54k not so much. '09's are already out and the market sux. Go ahead and sell yours and hold out for a smokin deal

leviwynnyk · Posted: Jun 23, 2008 9:38 pm Post subject:

It's kind of hard to say exactly what to do because no one here knows your financial situation, but there is somethign to be said for buying a boat new.

My story is I went from an 1977 O/B to an 1996 I/o and this year bought a new 08 Moomba 23 foot XLV with 2k Ballast. Check this boat out, 4 years of warranty, perfact pass Wakeboard and seating for 16 for under 50k. Pretty good deal for the money and I can say I couldn't be happier.

deafgoose · Newbie Joined: 12 Jun 2008 Posts: 29 City: Ottawa

I gotta agree. Look for a good buy.

My Outback V is just about the biggest bang for the buck. You can get one new for 37k plus tax with all the required options.

Bowen · Posted: Jun 25, 2008 8:56 am Post subject:

XStars are great boats, and they won't depreciate as much, even compared to an '05 Malibu. On the price, I agree w/ 02lightning

However, I've got to agree with what was said above, don't rush into a stupid purchase just because you want it. And don't trick yourself into thinking that you need it.

Nooga678 · Posted: Jun 25, 2008 9:40 am Post subject:

Chattwake · Posted: Jun 25, 2008 12:13 pm Post subject:

ramos777 · Newbie Joined: 07 Mar 2008 Posts: 35

...pics coming soon... Cool

TerryProII · Newbie Joined: 26 Jun 2008 Posts: 33

FWIW, my wife and I have a strong belief in NO DEBT other than home mortgage (and that only 40% of what they approved us for (which was far more than I thought we could even consider)). If we don't have the cash (on top of our 15% savings for retirement plan) we don't need it. We've financed cars, but only to the extent that we had the money in investments and only financed because we were earning more on the investments than the interest costs on financing.

This has meant giving up a lot of things (like the boat we wanted until now), but it also meant giving up sleepless nights worrying about financial problems, what happens if one of us looses our income or we suddenly really need money for something. Not necessarily a fun decision, but one I'd make again in a heartbeat.

Just my thoughts...