The bid stops

[Russ Calasant]

This entire thread has become a bit off topic. Have fun in your search, good luck with the current (or now past) negotiation as well as any future negotiations.

I agree Ken, I watched the slide for some time before I felt compelled to respond. I have received lots of input that is very helpful, I appreciate your well wishes. Thank you.

 

[Russ Calasant]

You say Only 6k is keeping you from the boat you say you want want. That IS the difference between buying and walking, and what you said in your post. Many here have tried to give you varied opinions and examples of how they would handle this, and now you have the benefit of a range of perspectives to handle your situation. I have said repeatedly that my post was NOT directed at you: "NEVER mentioning Russ until in a separate paragraph I said; "Russ must do what he must do and in his defense he did bridge the gap by $6,000 already and got nothing back from the seller.". This was intended to support Russ. I further see NO criticisms of Russ in my post and did not intend for it to be received that way.".
These types of responses to folks trying to offer advise, opinion and perspective, even if you do not like what they say, is not
helpful to the forum.

Good Luck in the pursuit of a new boat,

MM

At the end of the day you are correct, it is 6k that was holding up the deal. I offered to increase my offer 6k to make it so and he did not accept so my offer to increase was subsequently removed from the table making it 12k in reality. However you want to look at it is fine, this was not the question. There has been much input and it is greatly appreciated. The fact that in your separate paragraph you state in my "defense" what does that infer? That I need defending? I'm sure it was not your intent, more now that we have had a private conversation, I appreciate it. Sometimes without the advantage of voice inflection and body language it's easy to misunderstand intent. I agree, advice opinion and perspective is exactly what I was asking for, not judgement, negativity or conflict. After all if you(any) were not referring to me or my situation or posts why were you responding to it? (generally speaking, not an attack) But enough for me, I appreciate your (MM) and all input and time you and everyone spent engaging and explaining your perspectives, I really do appreciate it and have learned a lot. Please (anyone) say what you need to say if you must but I would like to put this thread to an end. Can't we all just be friends?!

 

[Russ Calasant]

Just wait him out. There are lots of boats out there for sale. Since you already have what appears to be a really nice boat you have nothing to lose. Buy on your terms or don't buy at all. I was in the market for 1 model/year boat only. I found a perfect one in June two years ago at Marinemax in Delaware but the price was prohibitive and they wanted me to foot the expense of transporting it up to Marinemax in NY. I walked away. I stopped by the Marinemax in NY at the end of the same season (September) and a salesman I got to know prety well tells me "I have just the boat you are looking for" which happens to be the same one I asked about in June. The deal he gives me is 12K less than the original price, transports it to NY for
me for free, free winterization, wrap, storage, free recommission and detailing in the spring, half a tank of gas and an hour with
their Captain when I pick it up. Was pretty much a no brainer. Glad I waited.

Nice story!

 

[Russ Calasant]

I'm with Woody on this one, as I also was trying to play the other side to make a point.

Let it be said, I like Russ, and I hope he finds the boat of his dreams.

This is not directed at Russ solely, but to all potential buyers....

Having sold boats before, I can tell you that as a seller, if someone approaches to buy my boat, and tries to talk down a reasonable price simply because the buyer wants to put in another 30K into the boat, I'd tell him to find a different one. When you are buying a USED boat, guess what, it is USED!!!! There will of course be items that need to be updated, but you are getting a USED BOAT for a USED BOAT price. If you want everything perfect, buy a new one.

As I said, this is not directed at Russ, but there is a common mindset out there that a boat's selling price should be adjusted for improvements above stock or OEM. I for one, would not adjust a selling price simply because purchaser X wants to re-do something that is already functional, nor would I reduce because they want to install something the boat doesn't have...like a generator. The boat would be priced for what it has, and adjustments made for valid repairs only.

Thanks, I like you too and I hope so also. To clarify my position, I never expected the seller to do anything. The monies referred to were not to add luxuries like TV, they were to bring the condition of several items that either had been neglected or abused up to an acceptable useable condition. I would definitely use this list to attempt to bargain with the seller, why wouldn't I? You would
not?
I did not expect the condition to be better than used or like new. I am surprised that this is common mindset. Good info, thanks. I never really thought that my list could be perceived that way, I suppose it's obvious now. How valuable would conversations like these be between buyer and seller?!qq

 

[Russ Calasant]

Actually my feelings were hurt by Russ:smt089, my post really was one of the most constructive you know. I think I'll be ok, don't worry about me, it'll just take a little time is all.

Lol, so sorry Woody, I hope it's not so devastating that you loose your will to boat. I have personal experience after reading this thread- I am currently in the fetal position under a chair praying that this is all just a bad dream.

 

[Russ Calasant]

I print it just like the Government!:smt043



Just kidding. I posted this six months ago since I thought some folks might be interested. I have a Loan Management Account with Merrill Lynch where stocks are the collateral instead of the boat and currently carries a 3% taxable interest rate which is LIBOR based. I also have a 1.74% auto loan, a 1.04% car lease and a 2.5% Home Equity Line of Credit. Quantitative Easing has been great for the borrower. For the new boat I am about to purchase, I was quoted 4.74% for 20 years two months ago which may be lowered with Boat Show incentives when I close in a few weeks. If I go with the new loan, I will most likely "buy" the interest rate down but making additional principal payments in the first couple years to reduce the total amount of interest paid.

Definitely a bit off topic but interesting. Are there other options? Such as other collateral that makes sense? Traditional banking options? Is your background in finance?

 

[320Bob]

Definitely a bit off topic but interesting. Are there other options? Such as other collateral that makes sense? Traditional banking options? Is your background in finance?

A home equity credit line is a traditional option and the interest is tax deductible on up to $100K of principal if you don't mind having your home as collateral. A home equity loan is another. When I bought my 320 2 years ago the loan rate was 7.5% which I consider too high in relation to other types of loans. I refinanced 5 months later at 6.4% which I still considered too high but was the best available for a used boat. Loan rates for used boats are higher than for new ones. Now 4.74% is an acceptable premium to me over a conventional home mortgage. Borrowing against a 401(k) is another option but I wouldn't recommend it. I am trying to sell my home which will end my attractive HELOC which is why I am considering the boat loan so it will free up my LMA to use for home improvements at the new house when and if I move.

My firm sells, configures and consults around our proprietary financial planning software which is why I know a little something about the cost of money.

 

[tdschafer]

At the end of the day you are correct, it is 6k that was holding up the deal. I offered to increase my offer 6k to make it so and he did not accept so my offer to increase was subsequently removed from the table making it 12k in reality. However you want to look at it is fine, this was not the question. There has been much input and it is greatly appreciated. The fact that in your separate paragraph you state in my "defense" what does that infer? That I need defending? I'm sure it was not your intent, more now that we have had a private conversation, I appreciate it. Sometimes without the advantage of voice inflection and body language it's easy to misunderstand intent. I agree, advice opinion and perspective is exactly what I was asking for, not judgement, negativity or conflict. After all if you(any) were not referring to me or my situation or posts why were you responding to it? (generally speaking, not an attack) But enough for me, I appreciate your (MM) and all input and time you and everyone spent engaging and explaining your perspectives, I really do appreciate it and have learned a lot. Please (anyone) say what you need to say if you must but I would like to put this thread to an end. Can't we all just be friends?!

Amen brother. At the end of the day it's all good. I'm glad one of your future upgrades did not include a portable generator or this thread could have really come off the rails!!:grin:

I wish you well my friend and I am sure everything will work out for you as it should, either with this boat or another. I can't wait to see it at the next CSR rendevous!!

As for everyone else, no hard feelings guys. Happy New Year! I'm out!:smt024

 

[Sprint7TW]

having read most of this thread i have come to the conculsion that the buyer and seller are both like me.
Seller: Probably does not need to sell the boat and unless I have missed something the boat is probably paid for. He has set his lowest price and will most probably hold his ground with this buyer. May change with the next buyer though.
Buyer (Frank): Can well afford to purchase this boat (Cash) but has set his limits as to what he will pay. End of story the deal will not happen unless Frank comes up to the offer.
Let's add the broker: Seller has told broker that this is my lowest net return period. Broker has given seller a couple of offers that were rejected. Broker is now trying to get Frank to budge knowing his seller will not. Broker is keeping the deal going waiting on Frank as he knows that is his income.
None of the 3 are wrong. Frank is the determing factor in all of this. If I were the seller and did not need to sell I would hold my ground.
I would say at this point buyer needs to make the next move or move on.
This entire thread deals with 2 peoples makeup. It really has noting to do with their ability to buy or sell a boat.
just saying,
Bob

 

[Woody]

having read most of this thread i have come to the conculsion that the buyer and seller are both like me.
Seller: Probably does not need to sell the boat and unless I have missed something the boat is probably paid for. He has set his lowest price and will most probably hold his ground with this buyer. May change with the next buyer though.
Buyer (Frank): Can well afford to purchase this boat (Cash) but has set his limits as to what he will pay. End of story the deal will not happen unless Frank comes up to the offer.
Let's add the broker: Seller has told broker that this is my lowest net return period. Broker has given seller a couple of offers that were rejected. Broker is now trying to get Frank to budge knowing his seller will not. Broker is keeping the deal going waiting on Frank as he knows that is his income.
None of the 3 are wrong. Frank is the determing factor in all of this. If I were the seller and did not need to sell I would hold my ground.
I would say at this point buyer needs to make the next move or move on.
This entire thread deals with 2 peoples makeup. It really has noting to do with their ability to buy or sell a boat.
just saying,
Bob

Hey, that's what I said.:grin:

 

[Russ Calasant]

having read most of this thread i have come to the conculsion that the buyer and seller are both like me.
Seller: Probably does not need to sell the boat and unless I have missed something the boat is probably paid for. He has set his lowest price and will most probably hold his ground with this buyer. May change with the next buyer though.
Buyer (Frank): Can well afford to purchase this boat (Cash) but has set his limits as to what he will pay. End of story the deal will not happen unless Frank comes up to the offer.
Let's add the broker: Seller has told broker that this is my lowest net return period. Broker has given seller a couple of offers that were rejected. Broker is now trying to get Frank to budge knowing his seller will not. Broker is keeping the deal going waiting on Frank as he knows that is his income.
None of the 3 are wrong. Frank is the determing factor in all of this. If I were the seller and did not need to sell I would hold my ground.
I would say at this point buyer needs to make the next move or move on.
This entire thread deals with 2 peoples makeup. It really has noting to do with their ability to buy or sell a boat.
just saying,
Bob

Bob, first thanks for taking the time to read the entire thread. Second, I think you are spot on. Other than the exact number and condition of the boat I am also speculating what the seller and broker are doing and their position. And I came to the same conclusion you did and made my move some time ago. I will post the conclusion as soon as it is known, as for my previous statement that it was concluded, I have many of you to thank that it's not- I think!

 

[Russ Calasant]

Happy New Year! And thanks to all again.