Question before buying a new boat vs used boat

[shingo]

Hi, I want to buy a boat, I currently have a princecraft fisherman 14' with an electric tolling motor and 15 yamaha engine.

I want to buy 16 foot aluminium boat, the one I want is the alumacraft escape 165 cs : Alumacraft :: Deep V :: CS :: Escape 165

I want an under 1600 pounds towing weight so the choice are restricted and I also want a lot of storage on the boat.

The alumacraft is the perfect boat for me and I know it.

The issue I have is that by buying new, I will lose some money compare to buying a 3-4 years old boat.

Do you have any idea how much money I'm losing by buying new? I want to keep this boat for the rest of my life if possible.

In the used market, most of the boat sold here are either princecraft or legend boat, and they don't have much storage area.

Also, my Father died a month ago from cancer at 57 years old and I think I should not postpone what I want to do and do it while I'm young and healthy.

So basically it comes down to buying a new boat for a few k$ more that will be exactly like I want or buying a used boat that won't be like I want but will be a bit cheaper.

From what I see here, a 20000$ boat will have a 15000$ asking price 3-4 years later and 10-12 years old will be worth 9000$

Also what do you think of the alumacraft brand compare to legend and princecraft?

 

[shingo]

Re: Question before buying a new boat vs used boat

Basically I'm trying to justify buying a new boat instead of a used one

 

[southkogs]

Re: Question before buying a new boat vs used boat

Don't know much about the brands vs. each other … I will say that I normally suggest against going into debt (read that: financing) over a boat. HOWEVER, to buy new or used is truly your choice.

If you're gonna' run it 'til you or it are done, and you can afford the cost of new - enjoy.

 

[agallant80]

Re: Question before buying a new boat vs used boat

Basically I'm trying to justify buying a new boat instead of a used one

If the used boat has issues and the warrantie has run out then you will end up spending more then if you just bought new and knew the exact condition of the boat since day one

Does that work for you? Just buy new if that is what you want. Its a luxury item, get what makes you happy, you are going to be dead for a long time.

 

[R DAVIS]

Re: Question before buying a new boat vs used boat

If you plan to keep it a long time, and can afford to do it, go for the new boat equipped exactly like you want it.
In a couple years you won't remember how much you paid anyway, but as you will have to live with it you will cherish the boat more, and not get an itch to trade it. It will be more worth the price difference then than now.

 

[JimS123]

Re: Question before buying a new boat vs used boat

I bought a new fishing boat a few years ago and Dad never got to go in it because of his health. He died last summer from cancer as well. He was always a cigar smoker until he got sick. After he passed I went fishing by myself one Saturday and in the middle of the river with no one around I smelled cigar smoke. He finally got his ride!

A lifetime purchase means that depreciation is cancelled out. After a certain time the value of a pristine boat starts to increase.

Buy new and take your Dad with you.

 

[SigSaurP229]

Re: Question before buying a new boat vs used boat

Or buy a dirt cheap used boat, and build it into exactly what you want.

 

[airshot]

Re: Question before buying a new boat vs used boat

A word of advice from an old boater....there is NO one time purchase!!! Just because you think it is the perfect boat now
does not mean it will be perfect in 1-3 or 5 years from now. Things change....life changes your wants and needs will change. Can't remember how many times I have said that this particular boat is all I will ever need, that was 6 boats ago.
You are looking at aluminium boats, not much will go wrong with reasonable care, your motor will be your biggest maintaince item and second will be the trailer. Buy what you can afford because depreciation is big...really big. What you will lose when you decide the perfect boat is not so perfect anymore will buy many used boats.

 

[shingo]

Re: Question before buying a new boat vs used boat

Thanks for the advice, there's a lot of good boat available used, the problem is they are most of them just too heavy for my car.

I could buy a truck, but in gas alone it would be 2000$ more a year.

 

[JimS123]

Re: Question before buying a new boat vs used boat

A word of advice from an old boater....there is NO one time purchase!!! Just because you think it is the perfect boat now
does not mean it will be perfect in 1-3 or 5 years from now.

You're probably right in some instances, but not all. Today's society is "I want it now" and when I got it "I'm still not satisfied".

In my case, I have 1 boat that I've owned for 30 years, and another for 28. I guarandamtee you the day either is sold is the day before i check into the nursing home.

 

[dan02gt]

Re: Question before buying a new boat vs used boat

I have owned used boats in the past, but the last one I bought was for a few reasons:

1. A warranty
2. I'm super anal retentive about caring for my stuff and didn't want to inherit someone else's problems.

The last used boat I bought looked to be in great shape and everything checked out good, but once I got to know her I found all sorts of little things that needed to be fixed. Ended up spending thousands on it.

 

[terrysandlin]

Re: Question before buying a new boat vs used boat

If you are willing to take time in finding a good used boat, you can be very happy. Check out the threads in the iboats forums. It took about a year for me to find as ideal boat as I was looking for. At the end of the year of looking, I had more money to spend. Keep in mind that the engine is primary. My mechanic said my 15 yr old 60 hp Evinrude looked like it had less than50 hours on it and the compression was outstanding in all three cylinders at 130. You can find good deals. Also, you will want to add things to your boat. The cost doesn't end with just the price of a used boat.

Terry

 

[crabby captain john]

Re: Question before buying a new boat vs used boat

Maybe it will not be the last one but it sounds like you will have it for a while ~~ go new. Get the warranties. Being anal you will take care of it better than nearly every PO. Get exactly what you want.

 

[terrysandlin]

Re: Question before buying a new boat vs used boat

I want to support Crabby's statement. On PBR, Click and Clack -- Tom and Ray Marriatzi of Car Talk on Public Radio -- told a lady who said she like'd the color red in a car choice, "Buy it!. If you really like it, you will take care of it and it will serve you well."

 

[redneck joe]

Re: Question before buying a new boat vs used boat

Or buy a dirt cheap used boat, and build it into exactly what you want.

if you like tinkering, this is the way to go.

 

[Slip Away]

Re: Question before buying a new boat vs used boat

In that size/type boat, and for a minimal cost, definitely buy new. You are really not risking much money.

 

[shingo]

Re: Question before buying a new boat vs used boat

Finally I bought a used boat, it's a 2000 princecraft pro series 162 sc with a 50hp Honda, 2 HP kicker and maxxum 55 electric motor. The boat was 7800$ and in perfect condition. I saw a couple of 1990, same model and they sales for 6500$, so the 10 years depreciation should be around 2000$.

For a brand new one with the same equipment, with interest and taxes it's around 35000$ so the depreciation is HUGE!

For a used one the average depreciation per year is 130$ and for the new one it's 1813$ per year.

 

[southkogs]

Re: Question before buying a new boat vs used boat

Sounds like ya' dun good. Congrats on yer' buy ... but it didn't happen 'til we see pictures

 

[dan02gt]

Re: Question before buying a new boat vs used boat

shingo congratulations on your purchase. I know you'll enjoy it.

I'm really not trying to be a jerk about this but I'm in shock at how that is or was a $35000.00 boat. Is it because your in Canada?

It looks very close to one of these to me TRACKER Boats : Deep V Boats : 2014 Pro Guide V-16 SC Specifications and you can get one new for $16k. Does Princecraft use titanium in their hulls or something?

 

[shingo]

Re: Question before buying a new boat vs used boat

shingo congratulations on your purchase. I know you'll enjoy it.

I'm really not trying to be a jerk about this but I'm in shock at how that is or was a $35000.00 boat. Is it because your in Canada?

It looks very close to one of these to me TRACKER Boats : Deep V Boats : 2014 Pro Guide V-16 SC Specifications and you can get one new for $16k. Does Princecraft use titanium in their hulls or something?

Boat 17000
Engine upgrade 1500
Minn kota 1150
Sonar 900
Kicker 1800

Taxes 3352.5

Total 25702.5


Let's use a 10 year loan at the current boat interest rate of 6%

it's 285.35$ per month

285.35$ per month for 10 years = 34242

That's the way I see it.

With the 5%-10% difference in currency, it comes up to a minimum of 20% difference in retail price between USA and Canada, it's often 30% difference.

For instance, with cars, when the canadian $ was equal to us $, the subaru made in japan like the STI cost 15k$ more in canada than USA. Also most US dealership refused to sell to Canadiens, they make so much profit here in Canada....