I had an 89 Searay, and sold it. Was looking for a new Searay - quoted over 220K. Ridiculous. And I was told that most people do a 20 year on it. I can't imagine.
In 2019 not one boat was in their showroom or outside. All sold People are now broke & bankrupt. Losing their jobs, homes, cars, boats. Everything. It’s a Disaster!
28000 for a freaking soap 🧼 dish 😂…..how on earth could they have doubled in just 4 years 😮😱It’s insanity Scott . People are totally crushed ☹️ Good to see ya buddy 💙💪
I’m shocked at boat prices and especially the interest rates. Not to mention the non ethanol fuel one must use. It’s over $4 a gallon and boats guzzle fuel ⛽️
Fuel cost for a day out on the water on >36 ft boats will make your hair fall out. The maintenance and the fuel cost of owning big boats will do major damage to your bank account.
Impossible time to be selling boats, especially in Florida with homeowners insurance, and property taxes going up. Never mind if you live in a subdivision with an HOA. In those communities, there must be rules about where you can even park that boat. It's probably all homeowners can do to make ends meet without a boat thrown into the mix. I guess I'm gonna have to feel a little sorry for someone pulling a boat the next time I see them.
what is really funny is how these 20 year loans at 8% interest traps people into keeping the boat for the entire loan. They cant afford to sell it when the boat is actually $15k or $20k under the balance they owe the entire loan period. The $400 payment is cheaper so they keep it.
I don't know anyone that keeps a boat for 20 yrs. I remember when I lived in South FL in the 90's, my husband n I were looking at bass trackers n they were almost $10,000, they are probably $150,000 or more now
It would be cheaper to lease a boat for a week. Just having to pay property tax on one will be more than the rental and also you would not have to worry about the maintenance on it. You have to winterize it if you live in a cold region and then you have to store it somewhere because I would not let a 50 thousand plus boat sitting out in the bad weather..
Years ago my friend had a boat in Chicago. He could not afford to pay to park on water so he paid rent at spot about 15 miles from the lake and much further than his home. He would pay to fill his truck to drive to get boat and then fill boat about 350.00 back then. Then paid harbor Master to get it on the lake. He did that 3 yrs!!! Every dime he had went to that boat
So the boat is double the price with the interest rate if you go to the full term . Or you can own it for 10 years and they will frontload all the interest and you’ll still owe same amount on the boat as when you bought it . What’s the big deal !!!
the boat you pointed out at $56,045 after your 10% down plus if you only paid the $429 monthly payment, you would have close to 110,000 into it by the time you paid it off after 20 years. Correction, you would have over $110,000 into it, I forgot to add sales tax to that plus like you said, you need to add insurance too. sales tax here is 5.5% in southern Wi.. what is sales tax there in Fl.? I forgot, haven't been back since 2005. These days you need to shop around if you have the money. Family went out of state to buy a new rig, $60,000 cheaper for the same one order from an out of state dealer versus a local dealer. Prices are all over the board right now it seems. nothing is cheap. I have seen guys buy new construction equipment, use it for 2 years and sell it used for more than they paid because the new stuff went up so much. .
Imagine what the property tax will be along with everything else. The tax will be higher than my car but the boat will probably sit most of the time because of the season and these boats really use the gas double what a car will use.
This is why smaller cheaper boats are gaining popularity. The Bass don't care if you spent $100k on a boat or 1k. If you can get out more and have less financial stress while doing it, then do that.
I could put one in front of my driveway, put on my captain hat and scream "AVAST YE MAYTEEZ" as the cars pass by on the dirt road. If it's raining - well, even better!
IVe been to the bass pro in Brandon and Ive never seen that many boats on their lot. The Middle class is stressed and out priced n housing cars and luxury items. I was in the market prior to the pandemic for a 27 center. No way in hell I was going to pay 2times what they are worth. a 27 new should be around 110k new normally pick up a used one few years old for around 60-75k not 200k or higher!! they are off their rocker!
They've always been like that or at least in the lower $20,000 price range. My last Corolla that I bought in 2016 that I bought was in the $22,000 range brand new and put zero money down and financed taxes and tags which brought the total cost up to the $24,000 range and got 0% financing for 5 years getting me to a payment of about $416 a month. So you figure the financed amount of these boats would be double of my Corolla cost, but the monthly payments are 4x in payment term length. By the way I still happily drive that 100% paid off Corolla that now has 117,000 miles put on it all by me and drives like it's brand new still. With my income I can afford to drive a brand new Toyota Sequoia, but am quite happy with my Corolla as it gets me from point A to point B just the same and my only cost is gas, insurance, $35 annual registration fee, and the regular oil change.
Exactly, problem started because of Biden administration policies. War on fossil fuels caused oil per barrel to skyrocket. Massive inflation. Price of oil connected to price of everything.
Imagine what the property tax will be along with everything else. The tax will be higher than my car but the boat will probably sit most of the time because of the season and these boats really use the gas double what a car will use.
Visiting A Boat GRAVEYARD!!! / Born Again Boating th-cam.com/video/0Cg-3wanRNQ/w-d-xo.html Exploring a Boat & Marine Salvage Yard | Abandoned Boat Graveyard / BobbyGfl th-cam.com/video/BBfAb_6vXEY/w-d-xo.html Not if u know how to fix boats. And take your time there are lots of places one can get one. For real cheap
Becky here - geez….I remember my first house was $53,000…..prices are ridiculous…
Correct! Our beautiful duplex we live in was $75,000 in 2013. Paid off now! 👏👏👏
Bought a new 23' Searay back in 1995 for $23k. Same boat goes for $150k now.
I believe it. Nothing is affordable anymore
That’s funny you said that I also bought a 23 sea ray in 87 for 23k that 1k per foot so 70k should get you a 70’ boat lol .
I had an 89 Searay, and sold it. Was looking for a new Searay - quoted over 220K. Ridiculous. And I was told that most people do a 20 year on it. I can't imagine.
it’s crazy it’s all fiberglass, why is fiberglass more then a house!
They’ll never sell those boats. People be dead before they are paid off! 😅😂
In 2019 not one boat was in their showroom or outside.
All sold
People are now broke & bankrupt.
Losing their jobs, homes, cars, boats. Everything. It’s a Disaster!
I might buy one if I were 90 years old
Thanks for the share all the best for 2024 ❤
Thank you!
28000 for a freaking soap 🧼 dish 😂…..how on earth could they have doubled in just 4 years 😮😱It’s insanity Scott .
People are totally crushed ☹️
Good to see ya buddy 💙💪
I’m shocked at boat prices and especially the interest rates.
Not to mention the non ethanol fuel one must use. It’s over $4 a gallon and boats guzzle fuel ⛽️
Ittd
We enjoyed a beautiful day here in N Florida. We are happy because we never bought a boat so we didnt have to sell a boat lol.
Fuel cost for a day out on the water on >36 ft boats will make your hair fall out. The maintenance and the fuel cost of owning big boats will do major damage to your bank account.
I believe it. Here in Florida the gas at the marina is almost 7 dollars a gallon.
scott i love your videos great job
Thank you! Scott
Yeah I don't know anything about boats but I love your videos lol
Boats are money pits. That’s everything you need to know.
And thank you for Watching all the time! Scott
Impossible time to be selling boats, especially in Florida with homeowners insurance, and property taxes going up. Never mind if you live in a subdivision with an HOA. In those communities, there must be rules about where you can even park that boat. It's probably all homeowners can do to make ends meet without a boat thrown into the mix. I guess I'm gonna have to feel a little sorry for someone pulling a boat the next time I see them.
what is really funny is how these 20 year loans at 8% interest traps people into keeping the boat for the entire loan. They cant afford to sell it when the boat is actually $15k or $20k under the balance they owe the entire loan period. The $400 payment is cheaper so they keep it.
I don't know anyone that keeps a boat for 20 yrs. I remember when I lived in South FL in the 90's, my husband n I were looking at bass trackers n they were almost $10,000, they are probably $150,000 or more now
It would be cheaper to lease a boat for a week. Just having to pay property tax on one will be more than the rental and also you would not have to worry about the maintenance on it. You have to winterize it if you live in a cold region and then you have to store it somewhere because I would not let a 50 thousand plus boat sitting out in the bad weather..
People here use them in saltwater and don’t even flush the engines or hose them off. Saltwater just kills your boat, motor and trailers here.
Years ago my friend had a boat in Chicago. He could not afford to pay to park on water so he paid rent at spot about 15 miles from the lake and much further than his home. He would pay to fill his truck to drive to get boat and then fill boat about 350.00 back then. Then paid harbor Master to get it on the lake. He did that 3 yrs!!! Every dime he had went to that boat
Yes! They are money pits! I’ve owned several. They were the poorest times of my life.
Hey just an idea have you got repossession boat auctions there, you would get a better deal for cash at auction
So the boat is double the price with the interest rate if you go to the full term . Or you can own it for 10 years and they will frontload all the interest and you’ll still owe same amount on the boat as when you bought it . What’s the big deal !!!
Across from me there is a nice new boat on display that hasn't been used in years. It sits next to a nice new RV that also hasn't been used in years.
That’s not surprising. Some people have money to waste.
Oh my gosh...😮
Holy Smolys!
Price doubled in the last 4 years (thanks to Cares/PPP dual scams), but looking at the real rate of inflation, the price will double again in 3 years!
Not surprised
Let them sit out in the Florida sun and rot at those prices!
the boat you pointed out at $56,045 after your 10% down plus if you only paid the $429 monthly payment, you would have close to 110,000 into it by the time you paid it off after 20 years. Correction, you would have over $110,000 into it, I forgot to add sales tax to that plus like you said, you need to add insurance too. sales tax here is 5.5% in southern Wi.. what is sales tax there in Fl.? I forgot, haven't been back since 2005.
These days you need to shop around if you have the money. Family went out of state to buy a new rig, $60,000 cheaper for the same one order from an out of state dealer versus a local dealer. Prices are all over the board right now it seems. nothing is cheap. I have seen guys buy new construction equipment, use it for 2 years and sell it used for more than they paid because the new stuff went up so much. .
Unbelievable! People who buy are debt slaves
Imagine what the property tax will be along with everything else. The tax will be higher than my car but the boat will probably sit most of the time because of the season and these boats really use the gas double what a car will use.
Yes, it is much cheaper to buy your lobsters and king crab legs in the supermarket and be content.
This is why smaller cheaper boats are gaining popularity. The Bass don't care if you spent $100k on a boat or 1k. If you can get out more and have less financial stress while doing it, then do that.
Sheesh….Our very first home was 87.5K😮 We have kayaks and paddle boards…We fish in the kayak…
Sounds great! Me too. A kayak! No payments, no worries.
Cars sink too bro.
Yes they do. And pickup trucks.
12 to 20 year loans straight robbery
Yes it is.
I could put one in front of my driveway, put on my captain hat and scream "AVAST YE MAYTEEZ" as the cars pass by on the dirt road.
If it's raining - well, even better!
There you go!
Twenty year payment plans for a boat
😬
Insane
That’s insane. The boat will have zero value way before the 20 years.
If I was there looking at those prices I'd run for the hills!!!
Yes! I was shocked! And those are the affordable boats too.
When PPP dropped, every single boat, RV, Limited's, TRX's, A6's was picked cleaned off the lot, now all those "Small Businesses" LOL are broke!
they speculated on each others houses with money the banks created from thin air, and then bankrupted themselves. 🤔
They bankrupted the country.
Build back better buy two or three
IVe been to the bass pro in Brandon and Ive never seen that many boats on their lot. The Middle class is stressed and out priced n housing cars and luxury items. I was in the market prior to the pandemic for a 27 center. No way in hell I was going to pay 2times what they are worth. a 27 new should be around 110k new normally pick up a used one few years old for around 60-75k not 200k or higher!! they are off their rocker!
I built Lund boats in MN and this is absolutely disgusting.
If you want to go boating rent it.
Even renting is expensive. Find a friend with a boat and go with them! 😃
@@therealeconomy6052 My friend's has been being repaired for the last two years 🤣
529 $ * 240 months/ 2o years = $ 127k for a boot offert for $ 69k
Absolutely insane!
Bro hasnt looked at corolla prices lol new corolla is over 20k
They've always been like that or at least in the lower $20,000 price range. My last Corolla that I bought in 2016 that I bought was in the $22,000 range brand new and put zero money down and financed taxes and tags which brought the total cost up to the $24,000 range and got 0% financing for 5 years getting me to a payment of about $416 a month. So you figure the financed amount of these boats would be double of my Corolla cost, but the monthly payments are 4x in payment term length. By the way I still happily drive that 100% paid off Corolla that now has 117,000 miles put on it all by me and drives like it's brand new still. With my income I can afford to drive a brand new Toyota Sequoia, but am quite happy with my Corolla as it gets me from point A to point B just the same and my only cost is gas, insurance, $35 annual registration fee, and the regular oil change.
I’ll take a cheap pontoon boat.
Yes! Buy used from someone needing to sell.
You don't have to own a boat, you know.
Thanks Biden
Exactly, problem started because of Biden administration policies. War on fossil fuels caused oil per barrel to skyrocket. Massive inflation. Price of oil connected to price of everything.
Most can't afford eggs let alone boats lol
Exactly!
Buy used always.
You end up paying for two boats by the time its over😮
Yes and it’s basically worthless after 10 years!
It’s a poor man toy but it will forever leave you in debt.
Exactly! A hole in the ground or water in which you throw money at.
Worst investment
Absolutely
Imagine what the property tax will be along with everything else. The tax will be higher than my car but the boat will probably sit most of the time because of the season and these boats really use the gas double what a car will use.
Its important to have a boat or Yacht too live in and fish too stay alive under a communist democracy
You will own nothing and be happy.
Klaus Schwab the anti christ looking guy from Germany with the WEF. He’s one evil man!
Stop saying that
No worries mate, there are many Jeff Besos out there that will buy it.
Hahaha they can have them!
The real meaning of a Boat is break out another thousand!!
Break out Thousands!!!
business in boats is sinking , me thinks.
Good one! I see consignment boat yards everywhere now. People stuck in mortgage boat loan’s trying to sell in a dying economy
Visiting A Boat GRAVEYARD!!! / Born Again Boating
th-cam.com/video/0Cg-3wanRNQ/w-d-xo.html
Exploring a Boat & Marine Salvage Yard | Abandoned Boat Graveyard / BobbyGfl
th-cam.com/video/BBfAb_6vXEY/w-d-xo.html
Not if u know how to fix boats. And take your time there are lots of places one can get one. For real cheap
It’s probably the most expensive toy to own. A boat.
@@therealeconomy6052 You haven't met my single engine airplane at the local airport.