If people made smart financial decisions all the time we wouldn't have jobsOriginally Posted by Scott F
. At the same time it is a fun thing for families. It's definitely an emotional purchase. But you see people do some strange things for sure.
If people made smart financial decisions all the time we wouldn't have jobs
If people made smart financial decisions all the time we wouldn't have jobs
That's very true... but it really makes me think we really need better financial education for people. I had a guy come pull $$ out of his IRA (I'm a financial advisor) so he could go buy his family a pontoon boat. I tried to talk him out of it or get him to wait and save for it but he was hell bent on buying it. I told him about taxes and penalties for early withdrawal but fell on deaf ears. We did the withdrawal and he was shocked at the amount of taxes he had to pay (25% plus the 10% early w/d penalty). So the following year he had to do another withdrawal from his IRA to cover the tax bill on the first withdrawal...... boat rarely got used and he sold it at a huge loss. Valuable, albeit expensive life lesson learned on that one.
With that said, I think everyone needs an IRA in addition to your 401k (preferrably a ROTH if you are able to contribute to one) but my gosh DO NOT touch those funds until retirement, play like they dont exist. Put a few bucks a month in it, even $25 a month adds up over time if you are younger. That's my financial advice for the day.
Good advice. Folks are often shocked when they want to trade a boat 3 years after they bought it and are upside down big time... well you financed darn near the whole amount..
Here is another angle. A lot of people refinanced their house to a 15 year mortgage when rates were low 15 years ago. Al those people are going to have a lot of extra money to spend.
Not much has changed for me. 30 years ago, I would look at the new boat catalogs, drool and say, I can't afford one of those. 30 years later, I'm still doing the same thing............
The short answer is yes. I've sold very few boats to folks my age or younger (34)
IMHO, folks need to shop smarter and not just walk in and buy whats on the lot whether it's a car, boat, rv, etc. I would love a new Yukon Denalli with the 6.2 or 3.0, but the local dealer orders them fully loaded, so they are 94k sitting on his lot. I asked the salsman who is buying these, he replies young famalies with lots of kids. Are they towing or off roading(since they are also 4WD) he says "no". I search around and find Denalli's with what I want for 79k, still a big chunk of change, but 15k less.
Same with boats, I bought a Puma FTD from a Mercury Pro Team member that was delivered to him in the middle of tournament season, he didnt want to take time to transfer everything over to the new rig so he broke in the motor, put it in the garage with a battery tender and placed an add on the Cat website and never upated it. I found it 3 pages deep, and bought a loaded boat that was 80k on the build sheet for 59k. Right now there is the Cougar Sp Package for 79.9k and I know a dealer that has a new Eyra Sp for sale, loaded for the same price.
Do you need the 4WD, sunroof, or appearance package on vehicles or three graphs, lighted livewells, etc...the list goes on.
If people weren't buying them dealers wouldn't be ordering them. You'd be surprised at how many loaded out Denalies sell compared to less equipped models.
Most serious fisherman could care less if they are maxed out financially. All I know is there’s plenty of new boats out here and most fishing during the week. I bought a new boat one time. Couldn’t really afford it then. But did it anyway.
Fishing is as expensive as you want to make it. It really is that simple.
Exactly
Yep. That's why i sold the boats i bought new & have bought used ever since. Recently repowered my 2003 stratos 18 xl with a low hour 2019 mercury 150 four stroke. Before that i bought livescope & updated to a spotlock trolling motor. I'm as happy fishing out of it as i have been any boat i've owned. Best thing all upgrades were payed for & still don't have a payment. I also make 90% of my own baits.
Last edited by Les Young; 03-29-2025 at 09:45 PM.
2003 Stratos 18XL 2019 Mercury pro xs 150 4 stroke. Model # 1152F131D. Serial # 2B649764
We don't have a lot of big lakes in my area, so smaller aluminum boats dominate things here, and even those keep getting more and more expensive. I think that all of us here on BBC see the bass boat market through a different lens than other people and think it's a lot bigger than it really is. I used to work part-time at the BPS in Harrisburg PA and I do know that in 2023 they sold 9 Nitros and 122 Bass Trackers/Pontoons/Jonboats. That gives you a pretty good idea of what most people can afford. Most people buy a fishing boat and own it for many years - they might replace the motor, fix the trailer, and upgrade the accessories but a good solid boat will serve most people for a long time.
I am fairly active among younger boaters, most of them are trying their hand at tournament fishing. Of those, most of them including the parents who foot a lot of the bills, are in agreement that ffs and it's costs are a major factor in whether or not they can be competitive. I'm trying to teach some of these cats that fishing can be fun, you don't have to be tournament fishing. Both are fun but different kinds of fun. A lot of them are very competitive types and that's ok, but you can be competitive with your coanger, whether it's the wife, girlfriend, parent, grandparent, whatever.
Other younger boaters are kids who have gone in together and financed a $300,000+ wake boat. That's fine, but I'd like to caution anyone who's reading, that scenario can and does end badly (repo, credit ding, etc). If you can't afford it alone don't buy it. There are a lot of smaller boats out there that you can have just as much fun in for ten grand or less. But a lot of folks want the best at 17 years old.
I've got one family who bought their kid my dad's old 1436 w/yamaha 20hp. Kid was at first like, what is this pile of feces? Well the first time on the water he realized that it's fun too. That was 2 1/2 years ago, still has it, still does bass tournaments in it and does pretty good! I did the same but mine had an old johnnyrude 9.9.. Took forever to get there and back (sometimes it got back..), but growing up in a family that had no money, it was all we could afford and I was perfectly fine with it. Could dad have financed a newer one? Probably. But dad was a financial advisor for a while and I heard all the stories about defaults and deadbeats and didn't want him or mom to be one of those while I was out playing with bass fishin.
expense is a big deal. New Ranger decked out is close to $100k. More than I paid for my house. I can afford several, but I do not need it. Boats are toys that terribly depreciate so I buy used and keep them a while. Young anglers don't quite understand how professoinal fishing works. You don't start off a big name with a sponsored boat and truck. You gotta buy that stuff and pay for it like everyone else until you reach "that" status. BTDT. Younger folks think they can just jump to that 'status' but it don't work that way. My best friend is a motorsports consultant--IOW he gets sponsorships for big name teams. Bass fishing isn't on his list, says it's a way of life for a very limited number of people-out of a million people 5 might be able to do that. He doesn't even work with those guys, stays with F1 indy crashcar woo nhra ihra etc
I feel sorry for those that can't enjoy fishing outside of a tournament. I'll stick to fun fishing out of my nicely optioned and unassuming black tank that will break 50 on a good day but fast enough for me.
2023 Xpress H18 with 115 SHO that's optioned to fit my wants and pulled by a little Ram.
Never argue with an idiot. They will drag you down to their level and beat you with experience. Just smile and walk away.
Agree 567%. I haven't fished a tournament in close to 40 years. Absolutely not knocking those that do, for me tournaments took all the fun out of fishing and made.it too much like a job.
Agree also. Know of a couple guys that have sold boat and all their gear because they quit tournaments. I much rather fun fish. By myself most days. No sonar. Get away from crowded spots.
A few years ago, Tourament angler numbers dropped by half. I saw a guy who had fished tournaments for several years fishing near the launch
. I had not seen him in a tournament for months. I asked him if everything was OK, and he told me something that shocked me. He told me he did not have money for gas. Man had two young children, a $400,000 house, fairly new vehicles for him and the wife, a four wheeler and hunting lease, and all the insurances on all the above. Seems he was tapped out....fishing out of a two year old Pheonix.
Boats aren't depreciating like they used to, not sure they are quite an investment but you see 20 year old boats still selling for what they did brand new. I keep waiting for a deal on what I'm wanting, but I'm still waiting.
Most folks that wanna sell cannot afford to do so. They are upside down on value and will not take the hit in order to sell the boat. If they sell, they gotta go buy another. That won't bode well, so to stay in the game.....they have to just hold on to what they got. There are no boat deals out there from my perspective.
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