Should I buy this boat?

[The Bear]

I wanted to get some other boaters opinions about this boat we are considering to buy.

It?s a 1993 Regal 9.8, 32ft cruiser, it has twin 454?s, Gen, all the options with only 157 hours on the motors, has always been under cover and looks great! Extremely clean for its age. The dealership is asking $79.999 for it, and we would be trading in our 2003 Chaparral 260 signature cruiser which we are a little upside down in.

The finished price would be about 85K with taxes, upside down, ect?.

We simply need a bigger cruiser to support our family and friends on the lake, but like anything in life that big, we are having second thoughts about it.

Just wanted to get everyone?s opinion!

You can see pictures of the boat on BoatTraders.com just do a search for Regal 9.8 it?s the only one priced at 79K.

Thank you guys and gals for all your help!

 

[Barnacle_Bill]

Re: Should I buy this boat?

I hope you are having it surveyed by a pro.

 

[txmntman]

Re: Should I buy this boat?

for $85 K I would get it surveyed at least once, ask what kind of warrenties are offered with it. $85K is more than my first house, so think of all the surverys and trappings associated with that!

I would move carefully for that kind of money........

BTW, I have been called "cheap", but I'm sure it was in a good way....

Best of luck!!!

 

[tashasdaddy]

Re: Should I buy this boat?

for that price i would want new props. they look like they have churned a lot of sandy bottom.

 

[TilliamWe]

Re: Should I buy this boat?

If you are a little upside down on your current boat, you'll be WAY updside down on that one! Are you seriously asking if that's a good deal? It's listed for $25000 more than the next comparable boat (1 year newer, but does have 610 hours, which is still good). And I know you all hate NADA, but using it as a Guide (and you bank will use it when they consider the loan) the High retail for 1993 with a ridiculous amount of options added, it only comes out to $49000. And I added for things like a Washer/Dryer combo! So the boat is WAY WAY WAY WAY overpriced. You're a fool if you buy it.

Why not consider the consider the one in KY or MI that are listed for $25k and $28k less money? They look nice too.

 

[Nandy]

Re: Should I buy this boat?

What do y'all mean by "upside down"?

 

[TilliamWe]

Re: Should I buy this boat?

Owing more money on something than it's worth.

 

[Nandy]

Re: Should I buy this boat?

Thanks! There is always something new for me to learn in the American English. Quite a language!

 

[m&m252]

Re: Should I buy this boat?

too many thousands for me ...

 

[roscoe]

Re: Should I buy this boat?

A little upside down in the current boat, turns into $35,000 upside down in the new overpriced boat.

Are you nuts?

What are you gonna do if you lose the boat and the insurance company only writes you a check for $44,000 ?

 

[jay_merrill]

Re: Should I buy this boat?

I would refine the definition a little and say that being "upside down" is when you owe more than the book value on the item. I make the distinction merely because, if you aren't much over "trade" for the vehicle when looking to trade it to a dealer, you can often get out of the car, boat, whatever, either "even" or with equity, by selling to a private buyer. If you are already talking to a private buyer and are only a little upside down at "retail," sometimes holding out for a higher asking price works. It really depends on the condition of what you are selling and how anxious you are to get rid of it.

 

[AguaSki]

Re: Should I buy this boat?

$85K is more than my first house

I thought the exact same thing when I read this post. I purchased my first house in 1995 (2 years after the boat in question was manufactured) and paid $67K for the home. I also thought I was crazy to put myself in such deep debt. How I wish I still had that home and mortgage. Given my boat budget, I can't imagine paying more for a boat than a house. I don't want to finance any portion of my boat, so that means a used boat that I maintain myself.

Only you can determine for yourself if it is wise to spend that kind of money on a this boat. If it was me, I would not do it, but I don't know your financial situation.

 

[dave11]

Re: Should I buy this boat?

I think I would keep your current boat until it becomes an asset rather than a liability. Also that boat is way overpriced. At that price I would have them put in new diesels.

 

[oops!]

Re: Should I buy this boat?

I do not think that is a good deal.

you might look at book value b 4 u buy. then check out local deals.

imo you would do better elsewhere.

i think i know where you are comin from, being upside down......

however u make that trade and you will be bottoms up.

oops

 

[SgtMaj]

Re: Should I buy this boat?

For that kind of money you should be getting a brand new boat.

 

[The Bear]

Re: Should I buy this boat?

Thank you all so much for your comments!

I do believe he is way over priced, however he has offered me one other option, the dealership thinks they can sell my boat for a little more then I owe and so they will take it as a broker boat, once they have a buyer they can sell me that boat for around 60K to 65K which seams like it is more in the ball park of what the boat is worth!

Thanks so much for your opinions, what do you think of doing that?

Or should we just keep our boat for a few more years?

Thanks again
Bear

 

[magster65]

Re: Should I buy this boat?

I personally wouldn't buy a boat like that because I couldn't afford to use it. However, if money wasn't an issue... then I definitely wouldn't. The style of the 1993 model looks dated now. Regal changed the lines a few years later (+/-) to a more modern 'flowing' design. Those look much better I think.
Just my 2 cents worth.

 

[The Bear]

Re: Should I buy this boat?

Thank you all so much for your impute,,,,,:redface:

I just got off the phone with the dealer and told him NO!!!

We are keeping our boat for another year or two and pay it down more until we owe less then its worth!

We love our little, ah big boat and enjoy it why mess things up by going farther in debt, up side down, and a much older boat with I am sure more potential problems!

Here is to Great Boating and friends!

God Bless, And have fun!
Bear

 

[Cptkid570]

Re: Should I buy this boat?

If you are in a position where you still like and use your current boat, then you can just keep using it until the perfect deal comes along. Kind of like the theory of looking for another job while you have a job versus looking for a job while you are unemployed. You can be a lot more picky if you already have a job and hold out for a really good job that pays more. In your situation, since you already have a boat, then maybe something that is a wonderful deal (that you don't have to 2nd guess) comes along.

 

[mattttt25]

Re: Should I buy this boat?

Each of my boat purchases started with 3-6 months of intense research and 'window shopping'. Besides being fun, it gives you a good idea of what's out there (makes, models, power options, etc) and what the market conditions are. After a while, you'll know what you're looking for and what the prices should be- it's pretty cool looking at a boat, reading it's specs and knowing what the list price is without seeing it. With that experience and knowledge, the perfect boat will find you. When you see the right boat at the right price, you'll know it immediately.

And as mentioned above, by being in no rush, you'll be sure not to make the wrong move. I'm just wrapping up a good 6 months of shopping, looking for my next step. I'm pretty sure I found the right boat, it's priced extremely well and if they take my offer and the survey goes well, I'll be in a new boat by April.

Just some advice I thought I'd share...