Boat Prices

sbw1 said:
View attachment 77196 always felt a little guilty cutting the checks because they truly are bad investments and a waste of money.
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I bought my first new boat when I was 19. Couldn't afford it then, and couldn't afford any subsequent ones either.

Since 2015 we bought 3 new boats. I say "boat", not yacht. We still have all 3 and use each one for a different purpose.

Forget paying on time...THAT'S the bad investment. I never bought a toy unless I could pay cash. The money just came from what might have been retirement savings.

All of the boats I ever bought were the best investments I ever made. My stress level has been kept low, my health high and my kids learned seamanship rather than how to use a video game. Our whole family embaces the sport and we look forward to every day on the water.

Waste of money? Nah.
 
Timeflys said:
I would wager that new boat sales in Canada are about to take a nose dive....our newly re-elected Liberal government under GQ trudeau has proposed a 10% luxury tax on top of our 13% Harmonized Sales Tax on purchases over $100k (this will also apply to aircraft and cars) .....so how do you feel on paying almost 25% of purchase price to the government for nothing !!! Read between the lines....make the rich pay.
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Like what happened in the USA back in the the early nineties.
https://www.sun-sentinel.com/news/fl-xpm-1993-08-16-9301300112-story.html

https://www.sun-sentinel.com/news/fl-xpm-1991-06-12-9103030352-story.html
 
Why pay for depreciation? All boat prices are inflated in this economy. My preference is ‘buy low, sell high’.
Plenty of great pre owned vessels out there.
 
Sadly, there aren’t enough Canadian boat manufacturers to create a successful lobby...the tax will go through and the majority of Canadians will go “ho hum..poor rich folk”.
There has never been a tax the Liberal government didn’t like.
 
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We were in the market for a new boat just as Jimmy Carter was elected. Saw this really nice new 370 Express in the dealer showroom that we planned to buy. Congress passed a luxury tax which we really resented. Kept our old boat until the tax was repealed. Back to the dealer later and the boat was still there. We bought it. Not many boats sold while Jimmy was running things.
 
sbw1 said:
View attachment 77216 We were in the market for a new boat just as Jimmy Carter was elected. Saw this really nice new 370 Express in the dealer showroom that we planned to buy. Congress passed a luxury tax which we really resented. Kept our old boat until the tax was repealed. Back to the dealer later and the boat was still there. We bought it. Not many boats sold while Jimmy was running things.
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During that same time period my career advanced immensely and we decided to buy a new boat. I had a CD coming due so there was ample money available. We negotiated the price and I agreed to pay cash. The dealer wouldn't hear of it and offered financing at 12%. Not my way of buying toys, but nevertheless I took the deal.

Rolled the CD over at 14% and ended up paying the boat off in 2 years.

Far cry from the 0.2% interest these days.
 
GypsmJim said:
During that same time period my career advanced immensely and we decided to buy a new boat. I had a CD coming due so there was ample money available. We negotiated the price and I agreed to pay cash. The dealer wouldn't hear of it and offered financing at 12%. Not my way of buying toys, but nevertheless I took the deal.

Rolled the CD over at 14% and ended up paying the boat off in 2 years.

Far cry from the 0.2% interest these days.
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U got 14% annually on a CD??
 
Back in the 1970s I got 15.6% on a CD. Of course, inflation was 12% at the time so I was only "earning" 3.6% actual interest. Those days are over. As long as the USA has $21 trillion dollars of debt the interest rates will be very low. The government would go bankrupt if the interest rates were any higher.
 
dcwjd said:
U got 14% annually on a CD??
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Yeah, I guess you weren't around when Jimmy Carter was president. The only reason I got only 14% was because I missed the peak interest period.

Also, back in that day mortgages were 8 1/2%. Then nobody could have imagined how cheap it is to buy a house today.
 
GypsmJim said:
Yeah, I guess you weren't around when Jimmy Carter was president. The only reason I got only 14% was because I missed the peak interest period.

Also, back in that day mortgages were 8 1/2%. Then nobody could have imagined how cheap it is to buy a house today.
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When Jimmy was running the show you could get 21% on a 100,000 CD. What a guy!
tiara in the snow 01small shot.JPG
 
GypsmJim said:
Yeah, I guess you weren't around when Jimmy Carter was president. The only reason I got only 14% was because I missed the peak interest period.

Also, back in that day mortgages were 8 1/2%. Then nobody could have imagined how cheap it is to buy a house today.
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8 1/2%? Maybe before Carter took the oath of office.
That was a bargain adjustable rate by the time he left and by the early 80’s fixed rates were 14-15%.
Carter was a nice guy, but a total disaster as POTUS.
 
JVM225 said:
8 1/2%? Maybe before Carter took the oath of office.
That was a bargain adjustable rate by the time he left and by the early 80’s fixed rates were 14-15%.
Carter was a nice guy, but a total disaster as POTUS.
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I purchased my first house in 1979. I got a land contract at 11% and considered it a bargain. We were in a small business at the time and had a good opportunity to expand but commercial loans were up around 18% as I recall. That nixed the deal.
 
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JVM225 said:
8 1/2%? Maybe before Carter took the oath of office.
That was a bargain adjustable rate by the time he left and by the early 80’s fixed rates were 14-15%.
Carter was a nice guy, but a total disaster as POTUS.
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When he left office the prime interest was 21 1/2% and Iran had held Americans hostage for more than a year. Inflation was double digit.
 
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