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Posts: 300
| I am in a pickle. I currently have some money saved up to purchase a boat, but it would not get me my ideal boat. Sadly, my ideal boat is still probably about 4 years away. That seems like a long time to me. So what would you guys do? Would you stick it out and keep saving, or would you pull the trigger on a used boat and then save up for a longer period of time so I can buy my ideal boat as the next one? |
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Posts: 117
| Do you have a boat now? If not, figure out something that you can afford outright right now and will hold its value extremely well. Buy that. Keep saving. You'll have a boat for the next 4 - 5 years, and you wont lose too much when you re-sell it. Depending on your situation and what would work passably well to get you pn the water in the short term, you might even get a boat now that youd want as a second boat in 5 years (14-16' bare aluminum for small water and rivers if your dream boat is a big glass rig, just as a for-instance). And keep in mind that 2 years from now you may have changed your mind about what the ideal boat is anyway.
Edited by Macintosh 9/2/2015 7:36 AM
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Posts: 300
| I do not currently have one. Thats my issue. I'm a younger guy, and since I joined the working world a few years ago I have been pretty responsible about saving for this boat, but I am still only about half way to what my ideal boat would be. And it would take me a while longer to get there. And I do not like the sound waiting 4-5 more years to buy a boat. |
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| Usually what I do if I want something bad enough I go to the bank and get a loan. It sucks making payments but you get what you really want right now. |
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Posts: 2687
Location: Hayward, WI | If you will be able to someday save up for your ideal boat, I'd probably get something used now. For me, 4 years without having a boat would be an eternity.
Just be careful to not spend so much that you can't afford what you want in the future. If you buy smart, you'll probably not really lose money when it comes time to selling the used boat you bought. I'm on my 3rd boat now. When I sold my other boats after owning them for about 7 years each, I sold them for just a few hundred less than what I paid for them. That makes it easier to upgrade each time also. |
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Posts: 331
Location: Stevens Point, Wisconsin | Really depends on what your price range is? We live in a time where people want everything right now! So I commend you for being financially practical. For years I fished from a 16’ boat with a tiller 40hp motor because it was all I could afford at the time, I think it cost me 4k. It was great for small lakes and rivers but it limited me on windy days or from larger lakes. As I started fishing larger waters like lotw I needed something bigger so I sold the 16’ for 4k after several years and purchased a 19’ fiberglass with a 175hp.
I paid 10k for my 19’ fiberglass boat and 5 years later purchased a new 4 stroke motor as an upgrade to the 2 stroke that came with the boat. I have had this boat for 10 years and it was paid off many years ago. I would love a 620 Ranger but it’s simply out of my price range and the boat I have now is all I need for small and large bodies of water.
Most boat owners buy what they can afford so they can still fish and upgrade down the road when they make more money. If you strap yourself financially on a high priced boat now you very well could limit yourself on how many trips you can afford to take during the season.
Maybe purchase a boat you can afford now, take good care of it and sell it later down the road while still saving for what you really want. Most boats don’t lose much in value so you should be able to sell it for close to what you paid for it, then add that money to what you have additionally saved.
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Posts: 13688
Location: minocqua, wi. | i was in the same pickle once and felt i made a good decision so here was mine. went through a divorce and the boat (a 20' ranger) had to go. i knew i wanted what i already had or wanted/needed one as soon as possible but more importantly needed something to get me by. i chose to buy a used tuffy Esox Magnum knowing that when the time came i would 1. be able to get rid of it quick and 2. keep most of my invested money toward the one i wanted. in my case i ran the Tuffy for 2 years, sold it in 2 weeks when i was able to find my new bigger glass ranger and sold it for what i paid for it so kept all of that money invested into the newer boat.
key is to pick your "get-by" boat carefully. there are some boat brands/models that are simply desirable and easy to sell ... get to know which ones those are in your price situation and get yourself on the water right away. |
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Posts: 1209
| Keep in mind boat repairs and fuel costs can be high. So if you buy a 10k used boat that gets 2 mpg and you drive a hour to the lake at 10 mpg costs will slow your saving rate so assuming you can sell the boat for about what you buy it for it will probably be 5-6 years out for your ideal boat.
I need a boat and will survive without h what I have till the day comes. |
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Posts: 300
Location: Minocqua, WI | What's the ideal boat? Like Mr. Sled says, you can get yourself a temporary boat, but try not to overinvest in it knowing that you may eventually sell it.
I recently went thru a similar pickle myself these last 2.5 years, though not as drastic because I had a few inexpensive fixer-upper boats in the garage to get by with. I was looking for a specific Ranger, but my only option was to go used and identify my maximum spending limit because I did not want loans for fancy new nor go thru any dealer. Well, two years of hard work and saving and looking went by, I saved a significant sum of money, my patience paid off and my dream boat was acquired this April.
It took a long time. It was the longest wait of my life. But........
Wait it out till the piggy bank explodes, but be ready to strike for a deal. They're out there if you act fast. The conservative approach can be much better for future than present and your bank account likely won't feel much aftereffects. |
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Posts: 255
| Buy a get-by boat, and you'll likely end up loving it. I had a 4K boat for ten years, and could quickly unload and load it, didn't worry about keeping it perfect. Still caught fish. Now I wince everytime a weed gets in the boat or the kids leave crumbs. I had an Esox Ltd with 40horse; loved it.
Do not got in debt for something so specialized. It is a toy, for water only, only during open water, when you have time, and you have to store it, care for it, and it will cost you every day for years to come. Just wait. |
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Posts: 489
| I think this all depends on current budget. If you can spend 15-16k you can get a very nice boat that will hold a lot of it's value over the next few years. Stick with the big names like ranger, tuffy, lund and your resale will stay up there no matter what your range is. On the other hand if you are looking at 4-5k the value of this boat will most likely not change at all especially if you take it upon yourself to replace carpet and fix any cosmetic flaws |
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Posts: 228
Location: Tinley Park, IL | You are getting some good advice here.
I would definitely get a used boat now instead of waiting 4 years. Then save and when you have enough to pay cash, buy your dream boat. But be careful, what you are saving for now will likely changed. I took this approach in my 20s and still have that used boat from 14 years ago. Engagement rings (2 of 'em), weddings, houses, and children get in the way of spending our savings on boats. But now I am 41 and dammit- I am getting a new boat next year. |
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Posts: 194
Location: Lake Elmo, MN | The ONLY advice I'll give you now is as a young man try to resist at ALL costs taking on debt. This from an old codger who knows. Your life will change dramatically in the next few years in many ways. You want the ability to save and let your money work for you. Don't get caught in that paycheck to paycheck trap that many end up in. Your life will be much happier without the debt. TRUST ME please on this one. You will have plenty of time as an older and financially secure individual to get any "dream rig" you want. My Ranger 620 was my dream rig, and I bought it AFTER I put my kids (3) thru college and AFTER I could pay cash for a brand new one. It's worth waiting !!!
Good luck....and keep saving.
Edited by PSAGuy 9/2/2015 12:34 PM
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Posts: 2097
| I would rather buy a new tracker with a newer engine than a old boat and an old engine. The boat may be better by those other manufacturers but your still getting an older motor with many hours. Between my dad's 97 pro team and my 2012 deep v all we have ever done is put gas in and winterize.
Edited by cave run legend 9/2/2015 1:08 PM
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Posts: 13688
Location: minocqua, wi. | '94 Exox Magnum with '98 mercury ... paid $8,200.00 ... ran it hard 2-3 years put gas and oil in it and sold it for $8,000.00
'94 Ranger 690 ... paid $8k ... could easily be running with original XRI but upgraded cuz i wanted to and have a boat that would cost me >$60-70k if i bought new. if i wanted to sell it i could move it in 48 hours and not get hurt.
no thanks ... one of the dumbest purchases you could ever make is a new boat unless you have a lot of money and don't need it or want to be stuck owning it upside down forever. they are depreciation money pits.
try selling this new trackers and tell me the difference to what you paid for them.
if this kid bought new he'd be stuck with either it or a huge loss and want/need something different and not be able to afford it cuz he's upside down on a boat. |
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Posts: 2097
| Old motors with lots of hours is a huge gamble. If you have to repower that will be more $$$$ than depreciation on a less expensive boat. |
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Posts: 13688
Location: minocqua, wi. | i have a '94 Ranger 690 with a 2013 Mercury Pro-XS that will debunk your theory ... and many, many more than me either have them already or are trying desperately to find one.
more than one way to skin a cat ...
like i said, there are some boats that you can sell in an afternoon (tuffy esox ltd or magnum, ranger 681/690/692 and a few others).
if you are smart and patient you can move your way into a sweet ride ... or sit underneath an upside down loan wanting something else the rest of your life.
it took me 7 years to get to this using the Esox Mag (i'd still take that boat in a second) as the seed and lost a total of $200 dollars of equity moving to it with a total now of $20k invested and could sell it in 2 days and spend maybe $2-3k in depreciation over that period of time. do that buying new and trading into new and let me know how it works.
you can build your way into a dream boat without dumping money on interest and depreciation and fish like a king while doing it. in my case there isn't a new boat built that would take me out of what i have sans maybe a lund predator or a pro-guide and that would cost me another $20k and not do anything more than what i have. if i bought a 619 or 620 that's $40k over what is basically new, paid for in full, runs 54mph and can cover any piece of water a new one would in spades.
if you get a chance go to Facebook and check out how many are doing this very thing successfully. https://www.facebook.com/groups/264687296955692/
Edited by jonnysled 9/2/2015 2:13 PM
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Posts: 300
| Wow thanks for all the insight from everyone! Currently I have around 15,000 saved up. My dream boat would probably be something like a Tuffy 2100 SC, but I am fine with a used boat so I don't have to stomach the initial depreciation. That being said, I assume to get what I want it would be around 35-40 grand used.
From everything I have been reading the overwhelming recommendation would be to start used and hope I fall in love with that boat. Which I am not ruling out. And I think I could get a pretty nice rig for 15,000 while I save for the dream rig. Thanks for all info and opinions! |
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Posts: 13688
Location: minocqua, wi. | you can get a lot of boat for that number!
look at Ranger 690/692's, used Tuffy's, Champion Fish-hunters ... but with $15k you may want to look at Exox Mags, Lund Pro-V's, Alumacraft Trophy, or the 681 Rangers. all will protect most of your first cost and equity for a future trade.
something i like about some of the used options are getting to the smaller block (150/175) without losing performance.
you could be all-in with a re-power on a nice 690 for 21-22 k and have a 5 year warranty.
Maybe AndrewR can post what he got at a really good number ... smart buy and a great rig!
Edited by jonnysled 9/2/2015 2:03 PM
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Posts: 255
| Holy crap! 15k. That's not a pickle. You don't need advice, you need to go get a boat. |
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Posts: 300
| Yeah, like I said, I've been pretty good about saving for it. The pickle was if I should continue to try and get to my 20ft glass rig or buy a starter boat now. |
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Posts: 13688
Location: minocqua, wi. | jvlast15 - 9/2/2015 2:16 PM
Yeah, like I said, I've been pretty good about saving for it. The pickle was if I should continue to try and get to my 20ft glass rig or buy a starter boat now.
you should take a look at Andrew's 18' glass rig ... especially at the number he paid. |
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Posts: 296
| With a 15k budget you can find a very nice rig RIGHT NOW that won't depreciate too much. Save more and sell this one and you can buy a Tuffy 2100 used for upper 30s in 4-5 years and you did the whole works without a loan. I would suggest setting a budget at 75% of what you have saved. Just in case you need to add an accessory or 2 and you still have some cash in the next boat fund. And start searching now to find a boat. Showing up with cash in hand is a great way to get what you want used.
Wish I would have done that....
I wanted a very hard to find boat back in 2007 2008. So I bought a brand new Tuffy 1760gt. More or less a unicorn as far as the used market goes. Obviously had to finance it since I was in my mid 20s and had nothing to trade in on it. I was single good job etc so I paid it off fast but still had to pay a bunch of interest but most importantly the depreciation hit is terrible. When tucker decides he wants an 1890GT like I did his depreciation hit on the same blue 1760 is gonna be next to nothing.
I was able to upgrade to a newer bigger boat without having to tack on too much extra cash but had I bought a boat in the low to mid teens to start with I would have been much farther ahead.....
But we need the wealthy old guys to keep buying new otherwise there aren't any good used ones  |
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Location: Contrarian Island | if you fish smaller waters you can get a very nice used tuffy esox mag... larger waters you might want a deeper V but 15k you can get a great rig now that you can fish with 4 yrs and not lose much $ on
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Posts: 300
| I hear you on the older guys buying new! I'm not a home owner yet but I assume I could probably get a very nice house for the price of a brand new Silverado and Ranger 21FS you see pulling up to all the launches. |
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Posts: 13688
Location: minocqua, wi. | there is a truck game worth playing too but that advice costs extra ... |
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Posts: 300
Location: Minocqua, WI | jonnysled - 9/2/2015 2:20 PM
jvlast15 - 9/2/2015 2:16 PM
Yeah, like I said, I've been pretty good about saving for it. The pickle was if I should continue to try and get to my 20ft glass rig or buy a starter boat now.
you should take a look at Andrew's 18' glass rig ... especially at the number he paid.
Thanks for calling me out......
You can get a lot for $15K. You can also get a lot for $10K even and apply the rest to pimp that ride.
Ok so example.... By the time I was ready, like you I had $15K to play with. This factored extra spending money in case the boat needed some new accessories or fixes. Didn't want to go beyond that limit. The search took me to central Minnesota and a 600+ mile round tripper. A couple add-ons later (new troller, my own electronics switchover from old boat, and a new pedestal seat) I still have extra money in the bank and feel victorious. The extra I still have is being applied to a new HDS 10 this winter.
Do a lot of homework on the motor. Make sure it has a good history, no blow-ups, was babied, has a low hour number, and passes the compression test w excellent scores. I was fortunate to have bought the boat from a guy who worked part time at a Ranger dealership, and barely used it for fishing. The smart move for me was made.
Edited by AndrewR 9/2/2015 5:06 PM
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Posts: 117
| OK, so you're buying used. I was lucky enough to make the friend of a Mercury master mechanic who's been in the business for over 40 years, what he told me is that he doesn't focus on the hours when he buys a motor he relies on a few tests to tell him what kind of shape the motor is in. He does a leak down test, NOT a compression test, and he will not compromise on that. He also has the prop shaft run out checked, if the prop hit a rock and bent the prop shaft that starts the internal gears grinding and would likely result in needing a new lower unit at some point. Obviously if the motor has an onboard computer and can get a diagnostic you should get that too, in that case it would tell you the engine hours and the RPM range that it had been run at, but many of the older EFI and carb motors don't have this capability and those motors are relatively simple or to work on and maintain and can last a really long time too. In all cases my friend doesn't accept a result that is near the edge of what is acceptable, he will only accept a result that is in the mid range or good end of Acceptable, this is to ensure that there is still wear- life left in the engine. Especially bass boats get driven really hard, but the problem is people don't let them warm-up or cool down before gassing them, but any boat can be rode hard and put up wet so you do need to look out for problem engines. However I personally know of a solid handful of engines that have multiple thousands of hours on them and are still going strong, and according to this guy and the regular mechanic that I use locally that's not a fluke, that's not luck, that's just people taking good care of them and running them responsibly. I would absolutely look for a used boat, you can get a heck of a lot of boat for $15,000, but I would budget a solid six or $800 just to pay to have some engine tests done to make sure what you're getting hasn't been abused. I recently bought a boat for about that money that I believe is in fantastic shape and I'm extremely happy with what I got and see no reason to look for a new boat, but I had to test five engines before I found one that was in good-enough shape that I wanted to bet my hard-earned 15 grand on it. I'll tell you from experience that a lot of people will look at you like you have three heads when you ask for this level of test to be done, but in the long run I believe it's money well spent.
Also budget some extra money to upgrade the fuel system and whatever floats your boat, trolling motor, electronics, or anything else it needs. I don't care how good shape it's in, you're going to want to upgrade something! Lastly, even though you don't want to be without a boat for four years, try to not be in a hurry. Don't look at a boat unless you're ready to walk away from it. If you get in a hurry you will compromise, and you might get lucky but you also might wind up with a problem and that's what will set you back .
Edited by Macintosh 9/2/2015 5:47 PM
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Posts: 1023
| Lots of great advice here. Especially from Sled and Macintosh. I am sure Cave Runs Tracker is a great boat but It will not resell easily or hold its value as well as a Ranger, tuffy or even Lund. If you have 15,000 left then I would keep an eye out for a used Tuffy as it will be easy to u load and hold its value.
Having said that, I even think that Steve's used (in boat classifieds) tuffy tiller is a great ride to the price and it's basically new. |
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Posts: 1184
| As others have mentioned, a lot of good advise here. Just to add my two cents, I would start with a list of features that are a must have, for you. Don't focus too much on which brand, but specific features you want. I seem to be on a pattern of buying a five year old boat, every ten years. Each time I sold a boat, I got what I payed for it, give or take a few hundred. Not bad for using a boat for ten years.
I'm a tiller guy, and the first boat I got, I needed something not too expensive, but could handle big water, as I was really into walleye fishing, and many of the lakes I wanted to go to, were pretty big. Ended up with an '88 Lund Pro V. Was exactly what I needed, and could afford. Sold it for two hundred more than I paid, but I had added a bow mount and a depth finder, neither were super expensive though.
Since I had been happy with the Pro V, I started looking that direction again, but also considered other brands that had similar models with similar features. Ended up getting another Pro V, this time a '98. The reason I got that particular boat was that it had an '03 Suzuki, and the price was perfect for my budget. Sold that boat for a hundred less than I paid for it, and the only add on that I included was a marker buoy rack.
Next boat, I was really open to other models, and was really considering a similar Tuffy. Also an '06 Pro V. The Pro V was well within my price range, but didn't have a bow mount trolling motor, and I hated the trailer. The Tuffy was a little more than I wanted to spend. Ended up with an '08 Pro Guide. Had all the basics I needed, and was a hell of a deal. Would like to upgrade a couple of things, but those items are being a little picky.
You would think I'm a big Lund guy because those are what I have had, but if the right deal had come along, I would have gone Crestliner, Tuffy, Warrior, or Larson. I had a set budget and a list of important features, and went out to find the newest, best condition boat that would fit my budget. Just happened to be Lunds each time.
I started looking months before I was ready to buy, each time, so I had a good idea what I could afford, and what various boats were going for. I noticed that the boats I wanted went fast, and there weren't a whole lot to choose from, so when I was ready, and found one that fit the bill, I didn't waste any time. Also, when I sold them, it didn't take long either. I sold the '98 in the fall, which I was a little surprised at.
Don't blow your budget, it's a toy. I missed two months of fishing on my last deal, but I got the boat I wanted, at the price I wanted. I've been totally happy with each purchase, and felt I got a good deal. Let the original owner pay the depreciation, get something that is in high demand and holds it's value. |
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