mrsrobinson
Well-Known Member
I am curious to hear thoughts/opinions on buying/selling a boat in this bear market. I looked at 3 over the past 3 weeks, 2 last Saturday. I am a cash buyer (at least I was until last week). I was ready to make a cash offer on one when I lost all of that plus more in the market.
I asked a broker I trust, yes, there is one out there , what he's seeing. 10 days ago he was seeing buyers are still buying, but they are no longer cash buyers, rather they are getting loans. With the Fed possibly lowering rates even more a loan is more appealing now. I keep my cash, buy into the market with it, market rebounds in 3-4 years, pay off the loan then.
My 2nd thought is should I wait to buy because the supply may exceed the demand and prices may start to drop. I never buy a boat I don't think I can at least break even on in 1 - 2 years in case I have to get out of it for some reason. So far I've been lucky on that. I don't want to pay $100k for a boat next week that is worth $60K this time next year because we are still in a bear market.
I asked a broker I trust, yes, there is one out there , what he's seeing. 10 days ago he was seeing buyers are still buying, but they are no longer cash buyers, rather they are getting loans. With the Fed possibly lowering rates even more a loan is more appealing now. I keep my cash, buy into the market with it, market rebounds in 3-4 years, pay off the loan then.
My 2nd thought is should I wait to buy because the supply may exceed the demand and prices may start to drop. I never buy a boat I don't think I can at least break even on in 1 - 2 years in case I have to get out of it for some reason. So far I've been lucky on that. I don't want to pay $100k for a boat next week that is worth $60K this time next year because we are still in a bear market.