Price of VX20?

[Dixie Chicken]

Guys inflation is the only thing keeping this merry go round spinning. Ever since Tricky Dick took us off the gold standard the economic wheels got bigger...........

That is partially true, because in 71 Nixon ended the Gold Standard Act, that of course guaranteed gold for dollars. The fact however is back in 1929 because of the depression, there was a run on gold at the banks, folks trading in their paper currency. Then in 1933 Roosevelt issued a proclamation that all citizens send in their gold coins and bullion and made it illegal to own gold coins. So in effect... we've not had gold since my father was 20 years old.

But for years (decades) now we're seeing a trickle of double eagles being 'found' in bank vaults in Switzerland and France (to name a few) that are selling for INSANE amounts in the coin collecting world.

Back to the bass boat conversation though...…

I've priced out a few lately. Loaded out, not all that different than my trusty Z9 (that was paid for when I drove off with it). New Z21 Elite $72K+, Z521 $89K and still needs options! So I figure the VX20 is going to be right there with the 521. Need to see one in person though, sure look good on my screen!

[mossie3]

Hard to figure banks loaning money on a boat for 20 years if there wasn't going to be equity in it for the length of the loan, or loan insurance to recoup the balance if the loan goes into default.

College tuition loans are getting out of hand, like mortgage loans did in 2008. Banks are loaning money like crazy for tuition, because they make money and assume no risk, because the loans are guaranteed by the government on the back of taxpayers. In 2008 the banks assumed no risks on mortgages because they immediately sold the loans off, and they were bundled into collateralized securities, and sold to unsuspecting investors.

Boats and tuition would be much cheaper if not for financing.

I personally think a big reason why we are seeing the sky rocketing prices is that banks are willing to give a loan on a new boat for 20 yrs. Thats absolutely crazy but its happening. Its the same thing we are seeing with the cost of college education. The colleges know the banks are handing out loans to anyone with a pulse and no limits on how much you can get. The boat manufacturers are doing the same thing. They know the banks are handing out 20 yr loans so they keep running the price up to keep that monthly payment in the $400-$500 a month payment. Simple as that.

The real problem is the depreciation of that new boat over the first year. The banks wont give anything more then a 7 yr loan on a used boat. So that $80-$90k boat just lost $20-$30k as soon as you drive it off the lot. Not many people can afford more then a $60k boat over 7 years. Hence why you are seeing the used boat market hover around that $15-$20k price range for a good 20 yr old boat.