I’m sure with the virus causing the economy to go down the toilet,there will be some dealers an manufacturers itching to move some product. I wonder if any manufacturers have deep enough pockets to offer super cheap financing on new models?
I have never seen a boat builder offer any type of deals or financing incentives.
It doesnt work like car dealers.
Boat builders are paid in full when the boats leave the factory by the dealers. some use cash, other use floor plan financing.
Even in the 2008 crash, we didnt see any builders offering incentives like car makers do.
Doesnt mean it couldnt happen, but very unlikely.
www.teamcharlestonmarine.com IF I RESPOND IN ALL CAPS, ITS NOT ON PURPOSE, AND I AM NOT YELLING
Definitely hope the dealers and manufacturers can weather this storm.
Do you think the prices for used boats will drop?
Like Chris said, our local boat retailers have already bought their Spring/Early Summer inventory. That money having been spent already, it will be difficult for them to drop prices. Especially, in the face of a dramatically slowing economy. They will seriously need to make money on what they can sell.
That being the case, while we all will tend to be more conservative in our spending until this mess starts to loosen up, if you can, do some/any business with the businesses that are still open. If you can and you have been meaning to put a nice trolling motor on a boat, go see Chris and spend some money. Usually do your own motor/trailer maintenance? Maybe take it to a local shop and pay them, if you can.
If we see new boat prices dropping, it will be because our local dealers are running out of cash to run their businesses. We need all these businesses and jobs to spring right back into shape as we come out of this slow down. That’ll be a lot more difficult of those businesses have closed permanently.
--------------------------- 17' Henry O Hornet w/ Johnson 88 spl 26' Palmer Scott project hull 14' Bentz-Craft w/ Yamaha 25
Never really thought about it, but now I know. Thanks for explaining Chris.
Probably the best we can get be manufacture giving rebates from the builder or motor suppliers.
dropped in Marine Max yesterday, service guy told me they are selling boats as fast as they can prep them, I doubt there will be any deals on new, you might get favorable terms from the bank though. There will be some deals on used boats.
I had a neighbor tell me that he is buying a new boat using his HELOC. 3.25% interest and deductible. If someone wants a boat, they’ll buy a boat.
"Apathy is the Glove into Which Evil Slips It's Hand", but really, who cares?
Maybe so, but I’m pretty sure the interest on HELOCs is no longer deductible based on the tax reform the republicans passed.
It has to be related to home improvements
All houses look better with a boat in the yard.
Did not know that. I wouldn’t use equity in my home to buy a boat anyway but, some people will I guess. I don’t have enough deductions anymore to itemize.
"Apathy is the Glove into Which Evil Slips It's Hand", but really, who cares?