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Old 09-10-2019, 07:39 PM
Poppa Poppa is offline
 
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Default New Boat vs Pre-Owned

Wanted to get some pros and cons from folks when have purchased somewhat recently. Really interested in financing something new but a lot of people saying prices are too insane right now and should only buy pre owned.

Any thoughts from members here?
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Old 09-10-2019, 09:23 PM
roper1 roper1 is offline
 
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I bought used 10 year-old boat in August. Been shopping since March, thought it might not happen this year. My observation is the first few years are big depreciation-wise, then level out quite a bit.
I think we can use our boat steady next couple years to decide if it's for us, keep it if we want, sell at a smaller loss if we don't get enough use.
Couldn't stand the thought of boat payments at -20, not really a finance type guy anyhow. Can't imagine making payments on a toy of any type, recipe for doing without something needed, mebbe. Good luck!
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Old 09-10-2019, 09:40 PM
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Ken07AOVette Ken07AOVette is offline
 
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When the lot of guys make your payments let them decide for you. Personally I bought used because I wanted to be sure I was doing the right thing, wanted to see if I liked ocean fishing on my own boat as much as I should, and buying a new $200,000.00 striper just wasn't in the cards.
If you can afford it, why not? Warranty is a wonderful thing, you get to break it in how you want, and you have no preowner gremlins.
My buddy bought a 30' kingfisher last year for $320,000 and can sell it this year after 80 days+ fishing for more than he paid.
There are pros and cons both ways, it just depends on how deep your pockets are.
If I was going to do it again, I would have bought new although my boat has been great to me.
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Old 09-10-2019, 10:44 PM
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It is the same as buying a car, you get some peace of mind knowing the boat is brand new and that you have some warranty. I believe you can usually get better financing rates too.

Buying used can save you a ton of money if you find a good deal but some guys like to try to get what they paid for the boat(especially jet boats).

Either way we are approaching the best time of the year to buy a boat. Figure out what you want, research the new prices then search up used options and compare the price difference. If new price isn't that much different then try and talk dealer down a bit and go with new, if it is significantly different then buy used. That is what I would do anyways.
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Old 09-11-2019, 05:47 AM
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Shop around....lots of pre owned boats that will save you a lot of dollars and fill your needs too.
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Old 09-11-2019, 06:13 AM
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SamSteele SamSteele is offline
 
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Default New Boat vs Pre-Owned

Hey Poppa,

One thing to remember about boat warranties. Many manufacturers advertise their lifetime hull warranties (Princecraft, Lund, Crestliner, etc.) which are great, but they are lifetime to the original owner only. If you are the second owner you get a 10 year prorated warranty from the date of manufacture and the dealer needs to submit paperwork to transfer the warranty to you, usually for a fee. The pro rated warranty means that if the boat is 5 years old, you get 50% coverage. 7 years old, you get 30% coverage.

I know warranty isnít everything to many people so that info may not matter in your decision process but I thought you should be aware.

Another thing to keep in mind is that many of the older (pre Brunswick) Lundís has issues with rotting wood in transoms. If you are looking at an older boat keep an eye out for any paint bubbling on the transom (a sign of the issue) and ask the seller about it. In essence the top cap on the transom wasnít sealed well so water gets in and rots out the wood. The only solution is to rip out all the old wood and replace it, often for significant cost. It can be done, but you should know what youíre getting into first.

SS

ETA: With the wet summer we had it wasnít a great year for boat sales. Dealer lots are still full of 2018s so there should be some good deals on new to be had.
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Old 09-11-2019, 06:18 AM
AndrewM AndrewM is offline
 
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Keep interest in mind when you are purchasing. If you are going to purchase used at 6.5% interest and can get new for cheaper rate you may eat some of your savings away from buying used. With that said, there are lots of used boats in Alberta that get very minimal use.
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Old 09-11-2019, 06:39 AM
Walleyedude Walleyedude is offline
 
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You'll get a lot more bang for your buck going used. It's not just the boat, motor, and trailer you have to pay for, it's all the other stuff - trolling motors, electronics, anchors, life jackets, ropes, etc..., etc... That all adds up in a real big hurry. Most of the time, you're getting a bunch of that stuff "thrown in" when you buy used, or at the very least, you're buying it at a significant discount to new. The end result is a bigger, better equipped boat for the same money.

That being said, there's something to buying new as well. You know exactly what you're getting, you've got full warranty, there's more financing options, and it's a great experience (or at least it should be). 2019 was one of the worst years ever for fishing boat sales in AB and SK. There are lots of dealers from all the brands with 1 and 2 year old boats still sitting on the lot, and the last thing they want to do is finance them for another winter. If you know what you want, start contacting dealers and negotiate a price, you might be surprised at the deals to be had.
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Old 09-11-2019, 07:39 AM
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pinelakeperch pinelakeperch is offline
 
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It's not much different than new vs used cars. There's peace of mind in owning something brand new with a warranty, and finance rates are generally much better when new.

Buying used, you save on depreciation (in most cases), but there's less peace of mind and finance rates are generally poorer. I would imagine that if you bought the boat from a reputable place that there'd be some sort of warranty attached to it, similar to a certified pre-owned car.
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Old 09-11-2019, 07:49 AM
AndrewM AndrewM is offline
 
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Always a trade off. Can do a lot of work in warranty if you save $10,000 off the price.
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Old 09-11-2019, 08:37 AM
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thanks folks....some good info here. One thing for us is that I'm NOT a handy guy at all, so going new (with warranty) means there's less worry for me about having something go wrong and then I have zero clue what to do about it.

Lots have said "buy used, there's tons out there that will fill your needs"...no. I've been searching Kijiji (I mean, I *LIVE* on Kijiji) for the last two years and really haven't seen one that we LOVE. Guys hang on to the good boats for 20 years at a time, and then they're selling these 15-20 year old boats for 15-20k. It's really nuts. You're talking about depreciation, but I'm really not seeing that, based on Kijiji.

A brand new Alumacraft for around 25k, with bow mount and iPilot, 9" Helix at the stern, and upgraded the motor to max HP vs 20k for something pre-owned. I just don't see the value in pre-owned right now...
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Old 09-11-2019, 08:39 AM
Buckhead Buckhead is offline
 
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Iíve been doing a lot of looking around at new and used boats in the last couple weeks. There are some deals to be had on in stock new boats. Quite a few new boats sitting unsold.
The used market is a bit overpriced IMO. People trying to get 2018 prices for their 5 year old boat and 80% of new for their 10 year old boat.
Right now you could get a pretty good price on a new boat and decent financing rates as well.
Unless I saw an absolutely super deal on a barely used boat I would be going new.

Last edited by Buckhead; 09-11-2019 at 08:44 AM.
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Old 09-11-2019, 09:08 AM
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Quote:
Originally Posted by Buckhead View Post
Iíve been doing a lot of looking around at new and used boats in the last couple weeks. There are some deals to be had on in stock new boats. Quite a few new boats sitting unsold.
The used market is a bit overpriced IMO. People trying to get 2018 prices for their 5 year old boat and 80% of new for their 10 year old boat.
Right now you could get a pretty good price on a new boat and decent financing rates as well.
Unless I saw an absolutely super deal on a barely used boat I would be going new.
this is where my head is at, too....thanks Buck.
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Old 09-11-2019, 10:45 AM
AndrewM AndrewM is offline
 
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Quote:
Originally Posted by Poppa View Post
thanks folks....some good info here. One thing for us is that I'm NOT a handy guy at all, so going new (with warranty) means there's less worry for me about having something go wrong and then I have zero clue what to do about it.

Lots have said "buy used, there's tons out there that will fill your needs"...no. I've been searching Kijiji (I mean, I *LIVE* on Kijiji) for the last two years and really haven't seen one that we LOVE. Guys hang on to the good boats for 20 years at a time, and then they're selling these 15-20 year old boats for 15-20k. It's really nuts. You're talking about depreciation, but I'm really not seeing that, based on Kijiji.

A brand new Alumacraft for around 25k, with bow mount and iPilot, 9" Helix at the stern, and upgraded the motor to max HP vs 20k for something pre-owned. I just don't see the value in pre-owned right now...
Remember on kijiji you can always make an offer. I inflate my prices as I know people will ask for a discount. With that said, it sounds like you want a very specific boat and have made your decision. Go and buy the boat!
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Old 09-11-2019, 12:11 PM
dutchman dutchman is offline
 
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Finding one in good condition is usually the problem. If you do find one, good maintenance records, I wouldn't be scared of it.

My last boat I purchased new off the lot ($20k range), used for 8 years, and sold in 2017. Never went in for one warranty problem. Condition wise it looked like new, and I sold it for exactly $300 less than what I paid for it. Not bad for 8 years of ownership.
Because the new prices have gotten stupid high in the last 10 years, the used prices follow suit.

I have no problem buying used, but in my case boats I looked at were all beat up. When I bought in 2017, there were lots of leftover new boats sitting at the dealer, selection was excellent with good discounts. It only made sense going new. Plus it came with premium manufacturer warranty for 8 years, so I shouldn't have to worry about mechanical issues for a while.
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Old 09-12-2019, 03:06 PM
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wanted to take a sec to say thanks to all the folks who chimed in here. After a LOT of thought, I've finally come around on my thinking and we're going to buy a smaller pre-owned boat as our first boat, rather than going all in off the hop with something big and shiny. I haven't owned a boat since my folks had one when I was in high school 25 years ago. I've never trailered a boat and never launched or loaded (we lived right on the water) and it would be insane to learn all this stuff with a brand new boat. So we're looking at a 14' Lund Rebel for about 5 grand and it'll be a perfect "learner" boat for us, and the bonus is, it gives us a lot of room in our budget to finish our basement, which is our other priority right now.

The way I figure it, in 5 years we'll have our vehicles paid off, our basement finished, and we'll be ready to graduate from our learner, into something much nicer and we'll have more than enough money to afford it!

Thanks again for all the info, folks!!
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Old 09-12-2019, 05:25 PM
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Alberta Bigbore Alberta Bigbore is offline
 
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Not a boat.. but i shopped around bought a brand new... 1 year old 30ft travel trailer.. priced down season end sale. Was watching that trailer for a bit. Its not used even being a year old.... but it is new and full warranty . I checknfor what they call lot rot And saved a big wad of cash.

Maybe check for a new boat.. but older than a 2019 boat on a new lot
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Old 09-12-2019, 06:30 PM
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Quote:
Originally Posted by Poppa View Post
wanted to take a sec to say thanks to all the folks who chimed in here. After a LOT of thought, I've finally come around on my thinking and we're going to buy a smaller pre-owned boat as our first boat, rather than going all in off the hop with something big and shiny. I haven't owned a boat since my folks had one when I was in high school 25 years ago. I've never trailered a boat and never launched or loaded (we lived right on the water) and it would be insane to learn all this stuff with a brand new boat. So we're looking at a 14' Lund Rebel for about 5 grand and it'll be a perfect "learner" boat for us, and the bonus is, it gives us a lot of room in our budget to finish our basement, which is our other priority right now.

The way I figure it, in 5 years we'll have our vehicles paid off, our basement finished, and we'll be ready to graduate from our learner, into something much nicer and we'll have more than enough money to afford it!

Thanks again for all the info, folks!!
Congrats!! i think you made a great choice. Any first time owner growing pains get out of the way with a less substantial investment!!
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Old 09-12-2019, 07:57 PM
Windsweptcoast Windsweptcoast is offline
 
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Enjoy your boat! Definitely a good idea starting out more economically. I have had a few used power boats over the years. This spring bought a new Alumacraft escape 165 side console with a 40 Evinrude E tech, bow mount Terrova and Helix 7. 10 year warranty on the Evinrudes. Had a lot of fun with it so far this year catching fish on a number of lakes. Cheap on gas and easy to tow. But it was around 30 K all in.
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Old 09-12-2019, 08:15 PM
roper1 roper1 is offline
 
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Quote:
Originally Posted by Poppa View Post
wanted to take a sec to say thanks to all the folks who chimed in here. After a LOT of thought, I've finally come around on my thinking and we're going to buy a smaller pre-owned boat as our first boat, rather than going all in off the hop with something big and shiny. I haven't owned a boat since my folks had one when I was in high school 25 years ago. I've never trailered a boat and never launched or loaded (we lived right on the water) and it would be insane to learn all this stuff with a brand new boat. So we're looking at a 14' Lund Rebel for about 5 grand and it'll be a perfect "learner" boat for us, and the bonus is, it gives us a lot of room in our budget to finish our basement, which is our other priority right now.

The way I figure it, in 5 years we'll have our vehicles paid off, our basement finished, and we'll be ready to graduate from our learner, into something much nicer and we'll have more than enough money to afford it!

Thanks again for all the info, folks!!
Exactly the reasoning we went used! Disregard the twits yabbering about someone else making your payments, you don't have 'em. Enjoy the boat!
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Old 09-12-2019, 08:32 PM
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Ken07AOVette Ken07AOVette is offline
 
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Originally Posted by roper1 View Post
Exactly the reasoning we went used! Disregard the twits yabbering about someone else making your payments, you don't have 'em. Enjoy the boat!
Twits yabbering huh? Nice.

Believe it or not, guys spend thousands and hundreds of thousands and millions on boats without payments, even on used boats.

Are you sure you know your target audience?
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Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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Old 09-13-2019, 06:46 AM
Buckhead Buckhead is offline
 
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Quote:
Originally Posted by roper1 View Post
Exactly the reasoning we went used! Disregard the twits yabbering about someone else making your payments, you don't have 'em. Enjoy the boat!
Exactly the reason to go new. Why pull out cash from somewhere it is making a good return? Just not logical.
It used to make sense when interest rates were 9, 10, 11%. Now that they are 3% or less it makes a lot more sense to use other peoples money for toys and invest the cash for later. One can always pay off the toys if needed. Your situation may vary so I only speak for myself.

Last edited by Buckhead; 09-13-2019 at 06:52 AM.
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Old 09-14-2019, 07:26 AM
Poppa Poppa is offline
 
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hey guys -- quick "buying a used boat" question for you, as I have never done this!!

If I purchase a boat from someone, what all do I need to have on hand? I have printed off a "bill of sale" document from the AB gov't website. Do I need to get a new plate for the trailer before I can tow it home, or can I do that after the fact? Looking online, it seems like I need a completed bill of sale before I can register the trailer in my name. So do I buy the boat, then leave it there, go get the plate and then come back again to pick it up?

The boat is currently out on a guy's farm and we're going to look on Sunday. If we like it, I'd like to be able to just take it home, but not sure what all the logistics are.

Thank you very much, in advance, for any info!!
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Old 09-14-2019, 09:03 AM
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RavYak RavYak is offline
 
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Phone a registries office and ask them. I know with a car you have 2 weeks to register, not sure about a trailer though.
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Old 09-14-2019, 11:26 AM
oilngas oilngas is offline
 
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This is an uninformed opinion;
The trailer plate is specific to the trailer, so what I would do is tow the works home, bills of sale in hand, make sure lights etc. all OK, and after I got it home, off to the registry. You will need to change the boat registry as well, but that's Federal.

I can't ever remember being pulled over when towing in 50 years of doing so off and on, but then again I make sure all is working and correct, travel speed limit etc.
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Old 09-14-2019, 12:00 PM
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Quote:
Originally Posted by Poppa View Post
Wanted to get some pros and cons from folks when have purchased somewhat recently. Really interested in financing something new but a lot of people saying prices are too insane right now and should only buy pre owned.

Any thoughts from members here?
I am running a 19' Warrior Deep V, Dual Console Walleye Tournament boat with a 150 HP and an 8 horse kicker. The boat is in top notch shape and has always been stored in doors. New that boat would be north of $120,000 today. Used mine would go for about $20-$25,000 despite being nearly pristine. You tell me if buying new makes sense, it sure doesn't to me. If you can find one that was well cared for, clean and not all scratched up you can save a ton of money. It isn't hard to tell looking at a boat if it has been cared for or not.
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Old 09-14-2019, 12:10 PM
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EZM EZM is offline
 
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The bottom line is, get the best deal for you .... so if you can afford to finance it, and pay interest, and that doesn't bother you, go for it. On the other hand of you can get a hardly used boat (which many are barely used here in Alberta) and have cash and therefore no payments, that's even better.

Don't settle for buying cheap, or not buying a boat big enough for your needs, that's the worst scenario no matter which way you skin the cat.

I bought a new Lund Tyee in 2013, was fortunate enough to be able to pay cash, and have used the boat extensively, and even today, some 6-7 years later I can get MORE money for it today than I paid for it ...... feels great to have exactly what I want, and be able to get every penny out of it, should life circumstances change (or I buy another boat).

Boats can be a good investment - when's the last time (outside of purchasing real estate) that you can actually enjoy something for years without loosing money.
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Old 09-14-2019, 06:02 PM
AndrewM AndrewM is offline
 
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Quote:
Originally Posted by EZM View Post
Boats can be a good investment - when's the last time (outside of purchasing real estate) that you can actually enjoy something for years without loosing money.
If only they ran on liberal tears they could be free to run!
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Old 09-15-2019, 08:02 AM
Sea Hawk Sea Hawk is offline
 
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Quote:
Originally Posted by Poppa View Post
hey guys -- quick "buying a used boat" question for you, as I have never done this!!

If I purchase a boat from someone, what all do I need to have on hand? I have printed off a "bill of sale" document from the AB gov't website. Do I need to get a new plate for the trailer before I can tow it home, or can I do that after the fact? Looking online, it seems like I need a completed bill of sale before I can register the trailer in my name. So do I buy the boat, then leave it there, go get the plate and then come back again to pick it up?

The boat is currently out on a guy's farm and we're going to look on Sunday. If we like it, I'd like to be able to just take it home, but not sure what all the logistics are.

Thank you very much, in advance, for any info!!
You can save a lot of hassle by making out a seperate bill of sale for the trailer. If not make sure the trailer vin number is on the bill of sale.
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Old 09-15-2019, 08:17 AM
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A few years ago, a friend bought a used boat south of the border and saved a substantial amount of money. I'm not sure of the hoops you need to jump through to get it registered here but he saved a lot of $$
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