How to Get a Good Deal on a Boat

[@boatinglessons]

Have you run into any good deals out there buying a boat? If so, tell us about it!

[@Nick_G7IZR]

Not this year. Not sure if its furlough (staff being paid to sit at home and all the spare free time they have) or if its the money saved from not going on holiday, but the prices of boats in the UK has gone up and the availability has gone right down!! UK dealers are saying they have never had it so good. How has covid affected you in Canada?

[@joegeorgia8989]

About 10 years ago I was looking at a 30-36 foot sport cruisers I live in the Northeast of the USA. I walked into the dealer at the end of the season and asked what they had left in stock. They had a 35' Monterey marked at 155,000. The sales guy ended up being the owner. He explained that it was a slow year and he didn't want to keep the larger boat over the winter. He offered free storage and winterizing for the first yearl as well as a reduced rate dock in the spring. Out the door price $92,000. I asked how that is possible. He explained in detail how things worked on his end with buying inventory. Long story short it was cheaper to sell at a lower price in the fall then to try and sell a left over model year in the spring. I bought it and put it up for resale. Best flip ever.

[@boatinglessons]

Joe, that is a great deal! 10 years ago, the industry (dealers and manufacturers) were hurting....supply was running much higher than demand. Thank you for sharing; are you still boating?

[@joegeorgia8989]

@@boatinglessons yes still boating! There is no better relaxation then being on the water. Keep up the great work on the videos!

[@marcuswilliams4352]

Hi dear do you need help getting a good boat?

[@lakeseminole]

I'm 64 years of age so I've been around for awhile. I don't sit in judgement of boat sellers trying to make some money through financing and so on. The margins are low already. I hear what you say however, if they can't make any money, they don't sell boats!

[@marcuswilliams4352]

Hi dear do you need help getting a new boat

[@alcompton538]

The real key is customer service. If you can offer - and deliver exceptional customer service, you can demand a higher rate. If you deliver poor customer service, this will directly impact your margins.

[@socalifone3044]

Negotiating during Covid-19. I doubt that's happening. I bought a 2020. My dealer called and asked if I was willing to sell it back to him for 2k more than I paid. Obviously had a serious buyer. I kept my boat.

[@fry6804]

Guy I work with said the same thing happened to him he said no way then the next boat I buy will be 2-3 thousand more

[@mattpaul947]

Hey Sean! Can you do a video on custom ordering a new boat from a dealer and if you can get good deals when custom ordering a new boat?

[@boatinglessons]

Good idea Matt!

[@marcuswilliams4352]

Hi dear do you need help getting a new boat?

[@robspeers2287]

Very informative video. Thanks!

[@n-da-bunka2650]

in short.. the boat industry is more protected due to fewer competitors so the bottom line is like anything else... "it's up to you to negotiate your best deal"

[@stevekatz3032]

I pay cash for everything (that includes my 2 cars and my house), and I realize I will get a better price by hiding that fact. What I do is let the dealer arranged financing go through, and when the first payment is due I simply pay the loan off in full. For the price of 1 month's interest I get the lower sales price and usually a pile of goodies thrown in by the dealer who thinks they are making a ton of money on the back end. What would you say about this strategy?

[@andrewrossnagel9433]

It lacks integrity and it's the same type of game people hate on dealers for.

[@stevekatz3032]

@@andrewrossnagel9433 Paying off a loan early is s sign of a lack of integrity? The loan papers don't have any pre-payment penalty nor do they have a prohibition against paying the loan off early.

[@andrewrossnagel9433]

@@stevekatz3032 It's always funny when people know theyre wrong so they act like theyre confused to what theyre being called out for. Nothing wrong with paying off a loan early. However, if youre purposely being disonest to the person you're making an agreement with then that says a lot about you. Whether its the salesman lying or you lying it's very low brow.

[@stevekatz3032]

@@andrewrossnagel9433 I disagree. In my example, I took the loan, the loan documents allow me to pay it off early as I please. There is no moral or legal obligation on my part to allow the loan to extend one day longer than I choose to extend it. If the salesperson doesn't know and understand this, then the dealership isn't training him/her well enough. I made an agreement with the salesperson to finance the purchase, and I financed it. What's the problem?

[@wyldbill100]

Business...is business, nothing personal. Getting a great deal or creating a great deal on a purchase is always the target. You're happy, the Bank is happy, and the Dealer is happy. Good for you!

[@mrrusty1965]

Well done

[@VantagePointLegacy]

My boss pays me slightly above minimum wage to deliver boats that cost a house. My guess is that he doesn’t charge for the delivery and that helps sell the boat.

[@andrewrossnagel9433]

He definitely charges

[@VantagePointLegacy]

@@andrewrossnagel9433 perhaps

[@WestDrop]

What is a good way to hint you will finance but not actually say you are paying in cash or financing?

[@boatinglessons]

Ask. “What are some of our payment options?” It should you are open to their suggestions

[@ekbanjosworld4926]

The buyer has the advantage ! Put the stress on the seller ! When I buy anything, i get my price or i don't buy it !

[@FastAndEasy2010]

Just get a surveyor who's good. Checks thru hulls and integrity of boat. A boat with all the bells and whistles, but a boat with expired fire extinguishers? Tells you about the care of the boat

[@lionsignitz9523]

Awesome 😎

[@boatinglessons]

Thank you 😊

[@barrybebenek8691]

But doesn’t the dealer ask right off the bat, if you have a trade? How does the customer reply?

[@gearjammergamer8560]

Just ignore the question. Same as when a car dealer asks what you owe on a trade. NEVER EVER EVER tell a car dealer what you owe on a trade before their offer comes back. You gotta be steely with them. i just tell them lets talk about that when he gives me the offer on the trade. Also dont ever ever ever answer what kind of payment your looking for with a boat, house, car anything. They will try their damnedist to get you in something you can't really afford with gazillion month loans. "Well the payment is right what you were looking for if we go 7 years on the financing". Then you look at what you paid in interest and its insane. If a dealer asks you about your boat trade tell them your buying a second boat. Then at the end tell them well you decided you want to trade your other boat to knock the price down a bit. Never let on your trading from the start.

[@marcuswilliams4352]

Hi dear do you need help getting a new boat?

[@tonyguerrier2258]

What free services/products do you have people ask for?

[@AnthonyRusso-l6x]

Just shop around

[@n-da-bunka2650]

Life insurance? Seriously? It's a discretionary item. Who's buying a LIFE INSURANCE policy related to what is essentially a weekend "toy". WoW! Looks like I might be sticking to buying used like I have for my prior 40 years of boat purchases