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Boat Market Morning Rant
Posted on 6/17/22 at 5:58 am
Posted on 6/17/22 at 5:58 am
When will the boat market slow down?? Surely with gas prices and the cost of living going through the roof, the used boat market will make a comeback with all the boats purchased at the beginning of Covid.
I ordered a boat 4 months ago that was promised 3-4 months delivery time because the manufacturer had the engines in stock. Well, needless to say, my dealer contacted me yesterday informing me my engines would be in "maybe" by March 2023 and that the boat and motor will have a significant price increase. On a side note, I give props to the dealer for contacting me about price increases and returning my deposit with no questions asked. I will be doing business with Metro boating again in the future!
I ordered a boat 4 months ago that was promised 3-4 months delivery time because the manufacturer had the engines in stock. Well, needless to say, my dealer contacted me yesterday informing me my engines would be in "maybe" by March 2023 and that the boat and motor will have a significant price increase. On a side note, I give props to the dealer for contacting me about price increases and returning my deposit with no questions asked. I will be doing business with Metro boating again in the future!
10
Posted on 6/17/22 at 6:05 am to MarshMan
What motor? I'm not seeing where the dealer was very helpful here .
Posted on 6/17/22 at 6:24 am to LEASTBAY
Mercury Pro XS. I’ve read horror stories on other pages of people receiving their boat with a huge price increase and no notice. Or was notified of the price increase and couldn’t get their deposit back. FYI looks like Mercury will have a 20% price increase on 2023 engines.
Posted on 6/17/22 at 6:41 am to MarshMan
Could it be that the dealer kept your boat and sold it to someone else for more money?
Posted on 6/17/22 at 6:49 am to MarshMan
My boat sat in storage at the factory for a couple of months waiting for an engine. That same boat is over $5k more in 2022.
Posted on 6/17/22 at 6:56 am to MarshMan
quote:On an ordered boat?
price increase
Any money down?
Posted on 6/17/22 at 7:03 am to awestruck
Yes, Money was down. They did inform me when I first acquired about ordering that if the engine wasn't available by the end of 2022 the 2023 year model would have a price increase.
Posted on 6/17/22 at 7:05 am to doublecutter
quote:
Could it be that the dealer kept your boat and sold it to someone else for more money?
I contacted the Manufacture to ensure this wasn't the case.
Posted on 6/17/22 at 8:00 am to MarshMan
Like you said the engines are where the old ups are on the market. Guy I know blew his 250 and Merc told him without a new boat order he wouldn't be seeing a new Merc 250 for a few years.
I'm all for financing a boat, but paying cash/upfront might be the only way to keep the price you signed up for with how the market is
I'm all for financing a boat, but paying cash/upfront might be the only way to keep the price you signed up for with how the market is
Posted on 6/17/22 at 8:02 am to MarshMan
Can you not order the boat without it and grab a Suzuki? I see them come available often when they trickle into dealers or motors come in and buyers cancel.
Posted on 6/17/22 at 8:50 am to LEASTBAY
quote:
Can you not order the boat without it and grab a Suzuki? I see them come available often when they trickle into dealers or motors come in and buyers cancel.
My dad got a suzuki for this reason. He's having a reno skiff built and went with the zuk since they were available.
This post was edited on 6/17/22 at 8:51 am
Posted on 6/17/22 at 8:53 am to MarshMan
quote:
When will the boat market slow down?
Not sure if it will. I'm just hoping that the supply catches up. I'm guessing prices will remain absurd.
Posted on 6/17/22 at 10:01 am to MarshMan
Thinking about selling my bass boat right now. I could get almost what I paid for it new six years ago
Posted on 6/17/22 at 10:17 am to bbarras85
Not that it helps, but the practice of taking a deposit and being subject to price changes after the deposit and before the delivery is becoming a more common. Manufacturers are going to keep this practice in place as long as customers keep accepting it. Once customer start cancelling orders and taking their deposits back and the shelves fill up, it will go away.
BTW - I haven't seen this practice be implemented WITHOUT the option to refund the deposit if you don't like the increase. I guess you have to be ready for anything in the event that you sign up for a deal without that option.
BTW - I haven't seen this practice be implemented WITHOUT the option to refund the deposit if you don't like the increase. I guess you have to be ready for anything in the event that you sign up for a deal without that option.
Posted on 6/17/22 at 10:42 am to latech15
quote:
guess you have to be ready for anything in the event that you sign up for a deal without that option.
Nobody should be accepting that. I would never sign a contract with those conditions. We agree on a price now or you agree to refund my deposit if I don't like the delivered price once it is determined
Posted on 6/17/22 at 12:23 pm to DownshiftAndFloorIt
I've been trying to sell my prodrive boat n motor for the last 2 months. Only getting a few lowball offers. Nothing serious. It's a 2016 and priced less than half of a new one. Guess i need to go lower.....
my dad sold his bay boat for 8k more than he paid for it in a week. guess that's where the market is right now.
my dad sold his bay boat for 8k more than he paid for it in a week. guess that's where the market is right now.
Posted on 6/17/22 at 12:43 pm to LEASTBAY
quote:
Can you not order the boat without it and grab a Suzuki? I see them come available often when they trickle into dealers or motors come in and buyers cancel
Suzuki is the only option pretty much available for every boat. I'm not a Suzuki fan. Nothing against them I just like Mercury and Yamahas performance motors.
Posted on 6/17/22 at 1:55 pm to MarshMan
In another few months to a year the boat market is going to crash.
We are headed for what will likely be a pretty bad recession.
I’d say in 2 years, if so supply chain issues are resolved, boat prices will crater.
ETA: gone are the days of cash out refinancing a house to make a big down payment on a boat.
30yr fixed hit 5.78% y-day.
We are headed for what will likely be a pretty bad recession.
I’d say in 2 years, if so supply chain issues are resolved, boat prices will crater.
ETA: gone are the days of cash out refinancing a house to make a big down payment on a boat.
30yr fixed hit 5.78% y-day.
This post was edited on 6/17/22 at 1:58 pm
Posted on 6/17/22 at 2:33 pm to AlxTgr
quote:
That same boat is over $5k more in 2022.
Thank God I was able to get mine last year.
The same exact boat would be almost $17,000 more if I had waited one more year. That would have kept me from getting what I WANTED
and forced me to probably get less than what I had been waiting for many years.
This post was edited on 6/17/22 at 2:34 pm
Posted on 6/17/22 at 2:36 pm to AUTimbo
quote:We both timed it right, apparently.
Thank God I was able to get mine last year.
Finally got the Amped TM batteries in, but haven't run it yet. Will be interesting.
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