I've got a 2018 Z20 and was looking to possibly upgrade but loan payment would still be too high. I was just wondering how guys buy new boats every year without having a massive montly loan payment?
I've got a 2018 Z20 and was looking to possibly upgrade but loan payment would still be too high. I was just wondering how guys buy new boats every year without having a massive montly loan payment?
Originally Posted by NCbound3
My guess is that is exactly how they do it, big payments and lots of debt.
I personally never understood the new boat every year thing at all. They don't change much year over year so no real reason to swap it. Most guys seem to get the same model as the one they just sold off so why bother....
Last edited by jb882; 02-12-2021 at 02:48 PM.
Lots of options drive decisions to buy new. 4 stroke is an example of a good option. Graphs is another, poles, and list goes on. Resale is good on used as well.
Important thing is, drive what you can afford and pull what you can afford behind it.
The one guy I knew that got a new boat nearly every year, had taken a second out on his house and paid cash for a 20 foot Ranger, this was years back, maybe 12 or 14 years, then he sold that after the first year got a loan and put the difference from the boat he sold down on the next boat, and so on, hasn't bought a new boat in a while and his house was foreclosed on a few months back, every year his payments got higher because he had less cash to put down after the previous years boat was sold.
So that's my experience with someone getting a new boat yearly.
Double post
I used to think the guy buying a boat every year or two was completely nuts. But seeing the price of high end lightly used boats, if your boat is paid off I could see swapping every couple years, having the latest and greatest and only having to pay a smallish amount every few years to have new stuff and stay under warranty. Probably pretty expensive still, but selling the used boat before stuff starts to wear out and look ratty isn’t the worst idea.
2020 Nitro Z20 Pro Package
For me since I bought a new boat in 2020, a Z20 with a 250 4 stroke, I sold my 2015 Z7 with a 150 2 stroke.
1- Much bigger boat, more room and smoother ride.
2- I wanted to move up to a 250 4 stroke
3- Sold my Z7 for a profit
Now saying all that, I am set until the time my body will not allow me to fish anymore. I may add some newer stuff on it as the years roll along but I’m happy with everything I have now.
I am the guy who usually keeps things for a long time. My trucks on average stay with me 15+ years.
Most likely they are getting a discount.
Bryan McDonough
2023 Nitro Z21 XL
Nitro Team
They get a discount and if they're lucky break even on the sale and trade up. Most just accept and figure into their budget a permenant boat payment but thats not awful when its the latest and greatest every year.
For the regular guys it's also a lot of monkey see monkey do, not everyone does it in a way that's benefitial but just because it's what they see who they idolize do.
I never understood it either. It's like listening to people try and explain how leasing a vehicle is better than buying... I just stop listening and assume they are financial idiots.
I sold my 2002 and bought a 2020. I'll be ready to buy again sometime around 2040.
Chris
2020 Nitro Z19 Pro w/ 200 ProXS
Wonder if I am a financial idiot? Hmmmmm. I do get a new boat every 2 years, every 1 year is tuff on me, tried it, did it, don't want to sell every year. Dont know anyone who does it, more then once, that is not getting a heavily discounted new boat.
Bryan McDonough
2023 Nitro Z21 XL
Nitro Team
Some peoples pockets are deeper then others and some peoples credit is better then others.
Was wondering how you sold your 2015 Z7 for a profit? I have a 2013 Z7 and don't see how I would make anything on the sale.
I know a guy that buys a new one every year but does not get a discount, per se. He is a multi millionaire so that helps..... Money simply does not matter to him and he can afford the hit. Buys a new truck every year too.
For someone like me i prefer to keep my boats a long time, my current one is going on 13 years old and if i were to replace it i would get a z18 simply because that fits in the space i have to store it where anything bigger wont. Given that the hull is almost identical i don't see any reason i would want to spend the money on a z18.
Leasing vs buying a vehicle well.... that's a simple math problem and it depends on the situation. Since i tend to like to get rid of vehicles at 3-4 years leasing has had a significantly cheaper total cost of ownership for me. The days of buying something and keeping it for 10 years are pretty much over, the complicated electronics has pretty much sealed that deal. Once they get mileage on them they cost way to much to keep pumping money into.
One of the reasons was my boat still looked like it came off the showroom floor.
Then finding the right person who was willing to purchase it for the asking price. I wasn’t asking anything that seemed high to begin with, I looked at other boats in the same year range and what it was rigged out with and then looked at what I deemed fair for a price.
‘I seen some guys selling older boats and not nearly rigged out as mine for 5 to 8 thousand more. Heck some was trying to sell them for more than they cost brand new that year.
Best I can remember I paid like $27,000 for mine brand new, I left two graphs on the boat, I did have an 80lb Terrova TM on it and my asking price was $24,500.
I never even put it on the market, just told my buddies if they knew anyone or just spread the word.
In less than 2 months, all of a sudden I had three guys wanting it. Told them whoever put the money in my hand first gets it. Next day one of them did and drove off with it.
So I had with graphs and TM upgrade I had maybe $30,000 in it. I sold my older TM and one graph. But to me taking a 1 thousand a year hit for the first 5 years, that’s a good return since I used it a good bit and know that you will usually take hits the first few years on anything new to used. I was very happy with the price and so was the guy who bought it.
He called me a few months later and again thanked me and said the boat was running great. He called to tell me I had left a Plano box full of crankbaits in the boat and he would bring it back to me, I told him no, that was part of the sell.
Ok Thanks, when you said you made a profit it would have been more than you paid for the boat. That was a awesome price you received on the sale.
I think to the best of my recollection, I got a pretty big discount on mine off the showroom floor because this was when Nitro was changing over from the Z7 to the new 2016 model Z18. I got like a $2,000 discount.
Exactly, I look at a bass boat as just a monthly payment. Take great care of it as best you can, sell it after a few years (not every year) with 3+ years of a fully transferable warranty. With that, you may just have enough extra cash after the loan is paid off to put a little down payment and pay for the sales tax on the new one. Repeat the cycle in a couple of years.Most likely they are getting a discount.
Layton Strong
Nitro State Team
As long as you are decently right side up on the 1st one then trading up every couple years really costs you nothing. That being said you have to be willing to accept a never-ending payment.
Pay cash for the 1st one, take care of it makes each purchase after that not a big deal.
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