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  #11  
Old 09-11-2013, 08:50 AM
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JohnE JohnE is offline
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Quote:
Originally Posted by willyt View Post
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.
^^X2^^
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  #12  
Old 09-11-2013, 10:03 AM
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Nick911 Nick911 is offline
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I'll add a twist to this:

You can't take the money with you when you die. You could get hit by a bus tomorrow or be diagnosed with terminal cancer...

Point is that the sensible decision is not always the best one, spoil yourself and buy a new boat.
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  #13  
Old 09-11-2013, 10:11 AM
maxpower220 maxpower220 is offline
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It seems that new boat prices are going up at about the same rate that your used boat is going down. It makes future "used" boats that are newer in year sell for more in the future. All of that, in turn, keeps raising the used boat market up.

In the 90s, a ski boat/wake boat would bottom out in value at the 10 yr mark. That has now moved to about the 15 yr mark. Back then, a 10 yr old ski boat cost about $10k used. Now, at 25 yr old ski boat cost $10-12k.

I really like to see other people spend money, go buy a new boat!
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  #14  
Old 09-11-2013, 11:27 AM
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Ryan Ryan is online now
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The answer to your question isn't as simple as the number of hours equal to 100k miles, it's limited availability of financing! And that small financial clif these guys are talking about is just about in front of your hood, er bow.

You will hit a significant hurdle and price drop in or after 2014. Most banks only offer loans on boats up to 7-8 years old due to risk of bad interiors/engines etc that hurt the equity backing the loan if a repo is necessary. Next year, the quantity of potential buyers drops significantly as fewer folks have $45k of disposable income burning a hole in their checking account. Run a regression on boat prices comparing '08 & '06 right now. Or just go to boat trader and spot check a few boats and you'll notice the a gap that is about 20%, much higher than the combined 6.5% price increases that occurred during those years, and higher than a combination of 10% for depreciation and inflation. There are some banks like Essex and others that offer loans for much older boats, but they have low household awareness. But this only matters if you're going to sell your boat within the next 2-3 years.

But, I'm with the other guys. If you have an emotional need for, new paint schemes, new teck, a warranty or your boating needs have changed then go for it. If money is your concern you're better off keeping what ya got than catching up to the 35%+ cummulative price increase since 2007. Tack on inflation and it's even worse.
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Last edited by Ryan; 09-11-2013 at 11:37 AM.
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  #15  
Old 09-11-2013, 11:41 AM
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AZDave AZDave is offline
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Depreciation is the answer to your question. A good rule of thumb on any consumable is, how much did I use it? The longer you use anything, without replacement, the cheaper that part of the cost of ownership is. Can anyone think of a big ticket item that appreciates while you are using it? Other than a house or something along those lines. Even a classic car, because you can't use it, or in loses value.
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  #16  
Old 09-11-2013, 11:52 AM
JGMinano JGMinano is offline
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I just went through a similar process this summer, and would echo a few earlier posters that it is tough to justify the decision on a purely financial basis. On the flip side, if part of your motivation is to move into a different model, the analysis changes significantly. In our case, we purchased a new X-2 in Jan 2007. At the time, we had 2 children ages 4 1/2 and 2, and were coming out of a 1996 PS 190. The X-2 was a much more "family friendly" boat for us (longer, wider, bimini, more freeboard, better rough water ride, etc.), and helped us to learn to wakeboard (my wife and I were exclusively skiers at the time), and then, very recently, dip our toes into surfing. Fast forward 6 1/2 years, we have 3 kids -- ages 11, 8 and 3 -- and routinely have at least one other family along for the ride. That dynamic, plus our desire to spend more time surfing, led us to purchase a new 2013 X-30 a few months back. We have zero regrets about the move, as this boat in my opinion does everything we do better than our previous boat (even, somewhat surprisingly, skiing at 15 off at 30Mph with the plate). We also have the benefit of the warranty coverage that comes along with a new boat purchase, new features that enhance the boating experience, etc.

Bottom line, you'll never get there just looking at it from purely financial perspective, but if your needs have changed (or may change in the future), you can make a case for a new purchase of a different model.
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  #17  
Old 09-11-2013, 12:06 PM
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Hope we all made it crystal clear on what you should do.
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  #18  
Old 09-11-2013, 01:40 PM
melton1wake melton1wake is online now
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Wonderful responses everyone. All these points give me a different perspective and are very helpful. I know getting into a new boat is not the best financial decision but it also seems like I won't get burned doing it as well. I might take a little bump with going new over keeping my current boat but I don't think it would be horrible. I definitely have even more thinking to do and this has helped influence how negotiable I may be with my current boat's price. Thanks again, this site has so many intelligent, helpful people.
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  #19  
Old 09-11-2013, 02:36 PM
wallnut21 wallnut21 is offline
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Also consider the functionally of the new boat. For me a big selling point was the tower. Had an 2006 X2 and the tower was a pain to fold down and traveling with it up was hard on the MPG. Being able to tow the boat with the tower down is a big plus (MPG & cleaning). This is just one example....
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  #20  
Old 09-11-2013, 03:05 PM
rodltg2 rodltg2 is offline
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No one has addressed your hours question. You have decent use , but your hours are relatively low. Fairly difficult too match hours on a boat to miles on a car. But I would say 1000 hours is the point where buyers will sart to worry . However one shouldn't. Properly maintained a boat should go 3000 hours. So at your current pace , your engine could last 50 more years. . Doubt everything else will though !
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