I asked my dealer today what percent of new boat purchasers finance vs pay cash. He told me that only 2% pay cash and the remainder finance some portion of the purchase.
I asked my dealer today what percent of new boat purchasers finance vs pay cash. He told me that only 2% pay cash and the remainder finance some portion of the purchase.
Sounds right to me!
2024 Phoenix 818, Mercury 175 (3B414035) Trick Steps, 3 Garmin 106 SV,s, LVS 34. BoatEFX dual bow mount. Ionic 12V 125AH, 2 12V 100 ah LiTime’s for the TM. Minn Kota 345 PCL charger,
Those 2% are all BBC members
I don't always find schooling fish but when I do I backlash on the first cast
Feels good to be in the 2 percent club .
All the cash payers on bbc carry briefcases full of cash straight to the manufacturer. So that 2% is a flawed number.
Cash is King
I doubt 98% finance
I usually fill the livewells with 10's when I trade the boat in.
Paid cash for the last boat i bought
‘79 fisher marine
Depends on the interest rate... Sometimes it advantageous to use other peoples money and invest yours... Dan
That seems reasonable to me. Most boats are at least as expensive as a car or truck and the past 10 years borrowing money has been pretty cheap so why not? I typically use cash to buy a new car or truck but if someone offers me money at 0.9 or 1.9% interest I will take them up on it.
2018 Ranger RT188 SC Black/115 hp Yamaha SHO 4-stroke; Garmin LVS34 - north
2018 Ranger RT188 DC Black/115 hp Merc Pro XS 4-stroke; Garmin LVS34 - south
14' Mirrorcraft tin boat (ancient) with a 9.9 Mercury 4-stroke, no electronics; catches fish anyway
2% will retire at 60, the other when their boat is paid for!!!
Nahh they will have to also pay off the truck, car, house, CC bill etc!!!
I paid cash for my Nitro POS. It's a '89, '95 & '96.
He’s trying to make you feel better.
David Ramsey and any other financial expert will always encourage people to finance a rapidly depreciatiing luxury item such as a boat.
I'd say almost all cars are financed as well but a car is more of a required item to get to work. Most will say it is bad to finance. I think on a boat do what makes financial sense. My dealer did not have 2% finance rate so I paid with a check.
Notice this as well. Dealers try to expose loan payments many times. I want to know my cost first.
2024 Phoenix 818
2024 merc 175 pro xs 3B411947
Does 0% interest count as financing?
2022 Ranger Z520R | 2022 Platinum F250
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I think most “cash” BBC members need to be reminded getting a loan through your bank or credit union and then writing a check for it and having them reimburse your account via your loan isn’t paying cash.....
2023 Nitro Z21 XL Pro
2023 Pro XS 250
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Lowrance HDS 12 Live
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Tow Vehicle
2022 GMC AT4 3500 HD Crew Cab Duramax
2008 Dodge Ram 3500 6.7 Cummins
well of course, getting a loan from you bank to write a check is financing for sure. Just not financing with the dealer.
2024 Phoenix 818
2024 merc 175 pro xs 3B411947