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Old 09-10-2013, 11:07 PM
melton1wake melton1wake is offline
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Should I buy a new boat?

I would like to get some opinions on keeping my current boat or buying a new one. I have a 2007 x2 with 317 hours that I just listed for sale on this site. My current plan is to sale this boat and buy a 2014 x2. My 07 is a great boat with no problems and I have it just the way I like it. On the other hand, with a new boat we can pick new colors and kind of "reset the clock" so in another five years we will have a five year old boat instead of a 12 year old boat that may be worth substantially less. With cars people used to say there was a big drop off in value at 100, 000 miles and I would like to know if the same type of thinking applies to boats. So, since they have not changed the x2 that much, do you all think upgrading to the current year is worth the price just so down the road I will have a newer boat with less hours that will be worth more. Thanks for your help and thoughts on this matter.
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Old 09-10-2013, 11:31 PM
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sp00ky sp00ky is offline
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Yes I would say please do as you rich guys help with the used boat market. As when I can afford a 2007 in about 5 years I will have plenty to choose from.
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Old 09-10-2013, 11:47 PM
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AlbertaSurfer AlbertaSurfer is offline
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If you "have it the way you want it" then why buy new? If they didn't change the X2 much then you'll have to put money into making it what you already have. Why spend that much on a new boat you'll have to change anyway?

This spring I bought a 14 year old boat and I love it. It's more versatile than anything they sell today...
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Old 09-10-2013, 11:54 PM
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scott023 scott023 is offline
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Quote:
Originally Posted by AlbertaSurfer View Post
If you "have it the way you want it" then why buy new? If they didn't change the X2 much then you'll have to put money into making it what you already have. Why spend that much on a new boat you'll have to change anyway?

This spring I bought a 14 year old boat and I love it. It's more versatile than anything they sell today...
I agree. No sense upgrading, when you're really not getting more boat then you already have.
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Old 09-11-2013, 01:10 AM
melton1wake melton1wake is offline
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Thanks for the replies. My reasoning behind purchasing a new boat was that if the appreciation curve for these boats is relatively linear, then over the next 10 years I would lose close to the same amount of money on the new boat as I would on the one I currently have. If that is true, then at the end of 10 years let's say a new boat is worth $30, 000 less and my current boat is worth $25, 000 less, then those numbers are close enough for me to enjoy a newer boat for the next ten years. Does this reasoning seem right or am I just rationalizing buying a new boat. Also with the rate these boat prices are increasing now might be my last chance to get into a new one. The x2s may be over the 100, 000 mark in just a few short years. I'm just trying to think this through and looking for some good insight from other knowledgeable people. Thanks again.
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Old 09-11-2013, 02:07 AM
kgrove kgrove is offline
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The depreciation curve is not linear. At best, new and use boats decline in value about the same percentage, but new boats the percentage is of a much bigger number. In reality I think its worse and new boats lose a higher percentage of their value the first couple years as well.

If you are looking for a financial reason to replace a used boat with a new boat, good luck. Aside from the depreciation cost you're paying on a new boat, there also is the transaction costs... obvious stuff like sales tax, but slightly more hidden costs like registration fees and extra stuff you buy to go along with the new boat. From a purely financial point of view, never ever ever buy a new boat. My recommendation is to keep your existing X2 and only sell it if your needs change and you want a different boat.

That said, receiving a new boat is exciting - goes down as one of the most anticipated purchases I've ever made. I've bought a couple used boats as well and I didn't feel anywhere near the excitement with those I did with the new boat... but I saved a ton of money.
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Old 09-11-2013, 07:11 AM
haroldbrogers haroldbrogers is offline
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I just did the same thing. Had and 07 X15, and sold it to purchase a 13 x25. While I did change models, that being beside the point the advancements in the last five to six years in fit and finish are extreme. Almost every little complaint I had with the 07 are gone in the 13. If you can afford it, go for it. Look at it this way the difference between what you sell the 07 now for and the cost of the 14, will be close to the depreciation in the next five years on the 07, plus your cost of ownership should be far lower in the first five years on a new boat than a five year old boat.
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Old 09-11-2013, 08:36 AM
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JohnE JohnE is offline
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I think you should keep it. Your 07 is about to flatline and depreciate very little over the next 5 years. A '14 will be depreciating quickly over the next 5 years. Now if you want to look at a 10 year window it may average out. But I doubt that in 10 years that the X2 is still the right boat for you. If it is, the money difference may not be all that much. But buying a new boat is almost never a good idea financially. Now if you want to buy a new one just because you want a new one and don't care if it costs a little money then I'm all for that.
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Old 09-11-2013, 08:43 AM
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JohnE JohnE is offline
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Quote:
Originally Posted by haroldbrogers View Post
I just did the same thing. Had and 07 X15, and sold it to purchase a 13 x25. While I did change models, that being beside the point the advancements in the last five to six years in fit and finish are extreme. Almost every little complaint I had with the 07 are gone in the 13. If you can afford it, go for it. Look at it this way the difference between what you sell the 07 now for and the cost of the 14, will be close to the depreciation in the next five years on the 07, plus your cost of ownership should be far lower in the first five years on a new boat than a five year old boat.
Buying a different model is totally different.

I look at it this way. What will it take for him to buy a '14 X2? His '07 plus $30K? If both boats depreciate the same exact amount in the next 5 years. (They won't the new one will depreciate more) then it 'only' costs him $30K to use the same exact boat with some better fit and finish for 5 years. Doesn't add up to me.
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  #10  
Old 09-11-2013, 08:44 AM
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willyt willyt is offline
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if you are exploring the option of buying new... why stay with the x2? i would demo some other hulls to see if it fits what you do on the water better, then you would have a much easier time justifying a new purchase.
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