Buying a new boat with no motor?

[j791]

Ok, so the saying goes if you can’t pay cash for a boat you shouldn’t buy one. However, boat prices are absolutely insane making it difficult to pay cash for a new boat. This may sound ridiculous, but how many have ever ordered a new boat with no motor? I’m not talking about so you can put your preferred motor on the boat. I’m talking about ordering the boat the way you want it, waiting the 6 plus months for them to build it, and then parking it in the garage. The idea apparently is that boats are so damn expensive and availability so limited that to get what you want you simply buy the boat now and the $18k motor later. This way you can pay off the boat in full, then save up for the motor. I guess it’s ok, but what would resale look like? A 2021 boat with a 2023 motor?

[Casslaw]

Having a newer motor certainly will help resale value! There are plenty electric only or hp limited lakes that make buying a boat w/o an outboard a real thing.

[j791]

Having a newer motor certainly will help resale value! There are plenty electric only or hp limited lakes that make buying a boat w/o an outboard a real thing.

Agree. Many buy without a motor because they want a specific brand motor or like you mentioned HP restricted lakes. But in this case it is simply for financial reasons.

[eh2000]

I think you would be better off keeping the money you would use to pay the boat in the market making you money until you have enough to pay for everything. The only caveat would be if the capital gains taxes could be leveraged better for multiple purchases such as boat, then motor, then electronics...etc.

[madmurph]

Take a beating by your BBC brothers and do the American thing and finance a new boat/motor/trailer package with all of the accessories.

[FloridaFlyer]

I would find me a good used boat - probably spend about the same as ordering a new one without the motor. Find a good used boat that has not been used and be done with it and go fishing now instead of all the waiting.

Let somebody else take the financial hit on the depreciation on a new rig....win - win... Get to use it now, spend about the same money, and somebody else takes the financial hit of buying new.

Get one two or three years old and there could still be motor warranty left.

[croix-man]

Right now is not really the best time to buy anything new. Things are bringing premium dollars and people tend to think because there is a shortage they must buy now. If you are going to buy a new boat and let it sit until you can buy a motor, why not just wait it out and save until you can pay for it all at once.

[j791]

I just looked up the prices on new motors and the prices were $1K to $3k cheaper than the prices listed on the Lund website. I’m sure there is a catch...rigging fees, etc.. It also makes me question if buying the trailer separate (which Lund allows) would be cheaper. Negotiate the price on the boat only first, then motor, then trailer (assuming it’s an equivalent trailer). Not sure if that would work, but it may be better than just bending over. I know most dealers have no issue ordering a motor and many are authorized trailer dealers.

[PolarKraft195]

Right now is not really the best time to buy anything new. Things are bringing premium dollars and people tend to think because there is a shortage they must buy now. If you are going to buy a new boat and let it sit until you can buy a motor, why not just wait it out and save until you can pay for it all at once.

^EXACTLY THIS^

[Lowerider58]

You should also consider that if you buy a new boat and store it for a couple years the warranty will have expired on most things before you ever use it. Many boats have a lifetime hull warranty but for most everything else it will only be for a year or two.

I also think that once we get back to a more normal life after Covid that prices will stabilize. There will probably be a lot of lightly used late model boats for sale as people return to work and have less time to play.

[Mobile1]

It sounds like a good way to get into the boat of your dreams BUT sitting in a boat in your garage that cant be used is ridiculous and stupid. Do not do it that way, WHY because I did it that way and learned that it was terrible mistake. The first month or so its cool going out into the garage and dreaming of what all your going to do and get for the new boat sitting there then that wears off and you start trying to figure out how can I get a motor. So you end up if you don't have cash like most don't, financing two items a boat and a motor paying interest on 2 loans, Listing to family and friends comments about how smart you were for buying a boat without a motor it gets old really quick and believe me you will hear it. Do your self a favor go get what you want as a complete package bite the bullet and finance it, use it, enjoy it and don't try to justify it!

[Shibby]

If you are 18,000 short of a new boat with motor just finance the 18,000. You obviously aren’t stupid with your money, interest rates are crazy low. Get a 4 year loan on the 18,000 and you’ll probably be out less than 1,000 on the interest payments. Life is short, getting on the water now vs a year or two from now is worth 1,000 in interest IMO.

[BillWoodard]

Find a 2 year old boat of your dreams and its a min 20% cheaper