When to buy? Any strategists amongst us :-)

[pbolden]

Hello Everyone,

I pretty much know what I want at this point but I'm unsure when to buy. My brother who owns a boat and goes to the boat shows each year says that I will get my best deal by far at the boat show in January.

On the other hand, Boattest.com said this today:

"December is the best time to buy a new boat and get a great deal. In fact, if you?re looking for a bargain, between December 14 and the end of the year is the best time of all".

http://www.boattest.com/Resources/view_news.aspx?NewsID=3927

I had planned on going to the boat show in Cleveland next month. I'm leaning towards buying/financing a Hurricane or Tahoe I/O deck boat. Anyone have any thoughts?

Thanks,
Paul

 

[dave11]

Re: When to buy? Any strategists amongst us

For me it was just buy it. My wife got tired of me talking about boats,and told me "Just go ahead and buy the damn thing"!

 

[smokeonthewater]

Re: When to buy? Any strategists amongst us

oh this is an easy question......for new boats research and find out what they go for... then set your price and buy it when you get your price..... if you have a dealer... tell him what you'll pay and to call you when he wants to sell... remind him from time to time.... Of course if he figures you'll cave eventually he'll wait you out and if you bluff too long you'll either have to buy at his price or wait till winter again
When on the calender makes less difference being ready when the right deal comes along.... It's how much and where that matters most.... If you live in miami then boats sell year round but if you can find a dealer in ohio who is sitting on 20 boats until may or june then he may be willing to take a slight loss on the boat so he doesn't have to carry the inventory all winter
Also have either cash or your own financing avail. You may consider the dealer's financing but it is MUCH easier to drive a hard bargain when you have cash in hand (or a letter of credit which is just as good to the dealer)
On used boaats it's just a matter of doing way more shopping than buying... Kinda like my new toy I Have been trolling ebay and craigslist for 2 years (although my friend found this one for me). I passed on LOTS of good deals before finding one great deal

 

[dave11]

Re: When to buy? Any strategists amongst us

The most important thing is to decide what

"YOU SPECIFICALLY NEED IN A BOAT".


Actually write down your requirements. This alone will reduce the number of boats you will even consider and will save you money. The things you WANT in a boat are really superfluous. Decide between your Wants and Needs. If a dealer throws in a few wants, you are ahead of the game.

 

[tkrfxr]

Re: When to buy? Any strategists amongst us

If you know what you want, only you can pull the trigger....

With the economy in the tank, you may very well have the upper hand in a deal. December or any upcoming month..

 

[piper_chuck]

Re: When to buy? Any strategists amongst us

If the dealer still has last year's models on the lot they will probably be highly motivated to move them ASAP, so you should be able to get a good deal this time of year.

However, you might want to consider taxes as part of the equation. Where I live property taxes are assessed if you own the boat on Dec 31. If I were to buy a boat during December I would get hit with a full year of taxes. Buying after the beginning of the year would avoid that.

Also think about finance charges if you're borrowing. If you buy it now, but can't use it until May, will the finance charges incurred during that time eat up the savings you got from buying in the off season? Also figure in potential storage costs, insurance, etc.

 

[pmillar]

Re: When to buy? Any strategists amongst us

Well, the property tax issue is why you might score the best deal in late December... dealers pay taxes too. And if you have good credit dealers can actually make money if they arrange your financing (essentially a kickback built into the financing rate)

 

[themaniam1]

Re: When to buy? Any strategists amongst us

Sounds like you are buying new. If so and you buy the next little while, you may want to make part of the deal (after you have settled on a price) as a deal maker, that they store your boat the rest of winter and do the un-winterizing and first time tune up and they store and winterize it next year all as part of the deal. If they do that it is like getting over hundreds dollars at least of the price and it cost them very little. You can also say that you want to get all parts and accessories at wholesale at their shop. they will do that also because it guarantees them business they would not have had.

Boat shows really are a good place for deals. Good luck and happy shopping, I love shopping for boats.

 

[superpop]

Re: When to buy? Any strategists amongst us

If you are planning on financing a boat then you are looking at too much boat. A boat is a toy, and toys should not be financed for two reasons, they depreciate super fast in the first 2 years and secondly any money you save on the purchase will be eaten up by finance charges. If you have enough to buy, then I would figure out what you want and let a few dealers know this and let them know what you are willing to pay. With so many really nice 2-3 year old boats out there, I think you are much better off buying slightly used. The depreciation hit has already happened and you typically get a lot more boat for the money. I was looking at new boats last year and what I wanted was going to cost around 40K at the dealer. I found the exact same boat with 45 hours on it and loaded with every option for 25K. It still looked and smelled like a new boat and even had a lot of extras that I would not have gotten on a new one. It also had a 7 year warranty on the drive train from Volvo. Most of the manufacturers don't dramatically change the designs every year so on my boat for example, they still sell the same model and design as mine and it has been out since 2005.

 

[BTMCB]

Re: When to buy? Any strategists amongst us

Sounds simplistic, but best time to buy is when the seller is most motivated to sell. A dealer with several left overs in his inventory is more likely to want to reduce his flooring costs, etc. Decide what boat you want, visit several dealers (if going new) and look for the best overall deal - upgrades / service he is willing to throw in. Also, dont forget to check to see if there are any factory incentives / rebates. And, don't forget to negotiate, negotiate, negotiate. You'll know when you get them to their bottom line, when the dealer stops smiling and his eye twitches! Good luck.

 

[pbolden]

Re: When to buy? Any strategists amongst us

Thanks for all the great advice, you guys are great!

Paul

 

[642mx]

Re: When to buy? Any strategists amongst us

I went to the local Checkmate/Baja dealer 2 weeks ago when the wifey and I were out Christmas shopping. I was talking to the salesman and he said only 3 people had been in the store all day! (this was at 1:30, the store closes at 2). So I'd say now is a good time to buy!

 

[Campylobacter]

Re: When to buy? Any strategists amongst us

When I was looking I got a much better price going to the dealer in November than I got at the Fall boat show in October. "Boat show prices" didn't mean squat for me, but this is only one experience that one guy had with one dealer.

 

[kenmyfam]

Re: When to buy? Any strategists amongst us

End of season or January / February.
Just my 2 cents though.