Shocked at my depreciated value

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ehaze

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Mar 16, 2007
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currently have a 2006 220 Select
350 mag
Corsa
and some other stuff


my dealer emails me today saying he could give me 28K for the boat on trade for a new 250 SLX. we are going to hold out for a 270 SLX and try to sell the boat on the open market.

keep in mind, we've purchased the boat new about 6 months ago and it has 98 hours on it.

paid around 40k
 
Dealers typically don't give you much on a trade-in. I think you are right to try and sell it on your own to get the most out of it. Unfortunately, you may have to wait until spring to find someone willing to buy now since it's nearing the end of the boating season.

If you can't sell it on your own, another option would be to go back to your salesman and tell him you will allow him to broker the boat. You would set the selling price and they normally get 10 percent of the selling price. If the salesman understands you were going to buy another boat but not until he sells your old one, there would be additonal incentive for them to try and move your current boat quickly. During the winter the dealers still get customers so they may have the best chance of moving the boat during the off-season.
 
I've been looking to upgrade to an '07 210 Sel and one MM dealer in Dallas, the same one I purchased my current boat at, quoted me a price of $38,800 for an '07 with the 5.0 mpi and Alpha outdrive. I found a dealer in Oklahoma City and they have an '07 210 (red), same engine and outdrive for $33,900. They also have an '07 220 Sel (classic blue) with the 350 Mag, BIII, and the Corsa exhaust for $37,900. None of the boats I am looking at are demo boats. All have zero hours on them. Try checking around, you might be suprised at what you'll find, even if it means going out of state.
 
Check all you want, but you are aware that Sea Ray will not allow dealers to sell out of their territory aren't you?

With boat sales slow, some salesmen are getting aggressive at trying to beat the territory system, but no dealership sales or general manager in his right mind is going to risk Sea Ray pulling his franchise over a boat deal.

Even if you can get a boat from a dealer in another territory, how are you going to get it serviced or warrantry work done? Boat dealers are not required to work on boats they don't sell, in fact, some Sea Ray dealers flatly refuse to. Most are up front and tell you that they are going to service their own customers boats first, then they will work on yours if you did not buy from them, but expect a long wait. At our dealer it takes 10-12 weeks to get them to even start on a boat they didn't sell, then the process takes forever since they stop on your boat when a customer needs service.

It is almost always better to pay a little more and buy from the dealer you will use for warranty and service needs. But that really shouldn't be necessary........every dealer pays Sea Ray the same cost for the boats so there is no reason why one should be more than another unless there is a trade involved, except for your ability to negotiate.
 
Is the exhaust to which you refer the loud, above-water exhaust? I'm all about power and noise - I have dual straight pipes on my truck. But, I got a ride across the bay on a boat with these. We were cruising all the way at 48 mph when the guy driving turned the exhaust off (back to under-water) and said, "I don't really like the noise that much."

He was right. I didn't like it either. But, unlike most other times, I really like it when a loud boat cruises by. It sounds really cool.

Last week, I was buzzing around with my daughter on a super-charged jet ski. There was a 50' go-fast boat idling by all of our anchored Sea Rays. I had an idea that he was getting ready to run. Sure enough, he turned toward the bay, so we rode up a safe distance from him, to the side. Water started to spray 150 -200 feet back as he accelerated into the mid 60's. We had a great view from slightly behind and to the side a safe distance.

When he stopped, there we were, next to him waving politely. His eyes got big as he realized we kept up the whole way! So much for spending $1/2 mil to go fast!
 
ehaze,

IMHO: May not be to far off the mark. You're going to get hit with a 25% reduction right off the bat when you drive it off the lot. Looks like they are only subtracting another 5% for the 90+ hours of use :huh:

But agree with you, you would think they would give you more for the trade since you are talking about going to a bigger boat?
 
ehaze said:
currently have a 2006 220 Select
350 mag
Corsa
and some other stuff


my dealer emails me today saying he could give me 28K for the boat on trade for a new 250 SLX. we are going to hold out for a 270 SLX and try to sell the boat on the open market.

keep in mind, we've purchased the boat new about 6 months ago and it has 98 hours on it.

paid around 40k
Click to expand...

That's why I buy used. :cool:

John, that what those guys in the loud boats like to do. And I would do it too, if I had one. When you are near a dock, with lots of people. open those pipes up and go. Once away, turn it off. Best of both worlds; you can show off your fast boat, and have some quiet too. :smt001
We were just out for dinner at a on-the-water restaurant last week and there were two of 'em that let 'em rip as they left. It is quite fun to watch and I must admit, those are the ones that had my (and my kids) attention.
 
Well. . . .I can't judge anything on this amount of information.

But it does sound like a simple start-of-negotition low ball offer. Under price your trade. . . .and quote a high price on the new boat.

Remember: on a trade the price of your trade and the price of the new boat is actually *irrelevant*. All that counts is the *difference*. All the counts is the size of the check that you have to write. If you get the new boat for $15K. . . .you should be satisfied to take ZERO for your current boat. All that counts is the $15K check you are writing.

But unfortunately, you can't tell what the right number for the *difference* should be. You can only see what boats like yours are selling for. . .and estimate what the new boat is worth. For the value of an '07 boat at this point, it is worthwhile to consider the '07 to be a *used* boat. For a new '08, you should expect a discount of 25-35% off of list. An '07 should carry a substantially larger discount at this point.

And yes. . .. boats are not assets. They are expenses. Selling a boat only reduces the expense.
 
Gunn,

Several years ago, I flew to Miami to visit a buddy of mine who was lucky enough to be flying F-16's down there. He had a red, 25' Donzi with a single 454 and above-the-water (only) exhaust (Living the dream at 23 years old).

He, his girlfriend, and myself cruised from Homestead to Biscayne Bay in 8 - 10 feet of beautiful water (which was loaded with lobster) to a restaurant next to the city. The stuffed shirts were not very impressed as we docked what sounded like a dragster next to their fancy-smancy tables by the bay. It was a great lunch and a great weekend.

They had to be impressed as we powered out over the horizon, though, right?
 
Well. . . .we look at the speed demons roaring up the bay ourselves, but honestly we much rather have our searay. More spacious. Rides well. We have a bimini (which I need many days). Not to mention the cockpit fridge.
 
fwebster said:
Check all you want, but you are aware that Sea Ray will not allow dealers to sell out of their territory aren't you?
Click to expand...

I did not know that. I have a two hour drive either to Oklahoma City or Dallas for the nearest Sea Ray dealer. I suppose I'm lucky or unlucky depending on how you look at it. There is no Sea Ray dealer in Wichita Falls. I can see how others might not have that option when purchasing a Sea Ray.
 
ruf1967 said:
fwebster said:
Check all you want, but you are aware that Sea Ray will not allow dealers to sell out of their territory aren't you?
Click to expand...

I did not know that. I have a two hour drive either to Oklahoma City or Dallas for the nearest Sea Ray dealer. I suppose I'm lucky or unlucky depending on how you look at it. There is no Sea Ray dealer in Wichita Falls. I can see how others might not have that option when purchasing a Sea Ray.
Click to expand...

Who are you talking to at MM in Lewisville (assuming that's the one)? I'm about 10 to 15 minutes from there.
 
fwebster said:
.......every dealer pays Sea Ray the same cost for the boats so there is no reason why one should be more than another unless there is a trade involved, except for your ability to negotiate.
Click to expand...

Frank,
I've witnessed the same situation when we've visited SR dealer in Alexandria Bay where I was quoted about $65K+ for 240DA. When I made few more calls after getting back home I was given a quote $55K from PA dealer. I was proposing my 175BR as a trade and even though PA dealer was giving me less for my trade, the price difference on a new 240 was making the deal much more atractive.

Alex.
 
We spoke to our local dealer on a 2008 230 Select yesterday. He claims MSRP was $67,000 and he could sell it to us for 53,000 out the door. I was shocked at the price increase compared to a 2007 220 Select same options earlier this summer was $39,000 out the door. They can keep the boats at that price. Maybe I just dont get it but that is a joke in my mind for a bowrider of that size compared to the competition around here?
 
Tanner03 said:
We spoke to our local dealer on a 2008 230 Select yesterday. He claims MSRP was $67,000 and he could sell it to us for 53,000 out the door. I was shocked at the price increase compared to a 2007 220 Select same options earlier this summer was $39,000 out the door. They can keep the boats at that price. Maybe I just dont get it but that is a joke in my mind for a bowrider of that size compared to the competition around here?
Click to expand...

Have you done a retail pricing quote on the Sea Ray site. Shopping for boats it is always good to do that first and then build your strategy, knowing that it is pretty easy to get 20% off on new boats and that you are getting a good deal when you exceed 30% off retail. teh retail price however builds the base and that price is visible on most manufacturer sites. Some dealers refuse to share the retail list with you (had that happen with Chap), I would never buy a boat from such a dealer/manufacturer.
 
Huh. That sounds AWFUL high. How was it equipped? Only with a 350Mag bravo III could you get anywhere near that high. And for a mid sized bowrider. . . . . that is just stupid high price. Even with a 33% discount. . .that is too much.
 
ehaze said:
i hope this isn't true.
Click to expand...

Frank is EXACTLY right .......

I live in SC and while on travel in the Orlando, FL area found a boat cheaper than my local dealer had priced for me. The dealer in FL was emphatic that the invoice had to reflect an address in his territory.

Then I would've had to worry about shipping it to SC and the whole warranty issues that are mentioned on this thread.

If you plan on keeping the boat for many years (over 5), then I recommend getting it local. Waiting for my boat to be worked on for 10-12 weeks during the peak season is NO FUN.

My local dealer came down on their price and yours will too if you do your homework. I got mine well below the 20% mark, but prefer not to say how much or what I did since they may be on this forum!!!

:)
 
I just purchased a new 07 230 select with 350 mag. It is true Sea Ray will not allow their dealers to sell into other markets. However most dealers will be competitive. All I can say is check out the dealer it is not worth saving a few thousand dollars if the dealer is not good. I made that mistake on a Regal. The service was so bad from the marina where I purchased my boat, that within 1 year I went across the lake and bought a Sea Ray. A bad dealer or Marina can make your boating experience miserable. Who knows if gas continues to rise and the economy tanks. I will make you a good deal on a 230 with low hours. :lol: Good Luck
 
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