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2014 Bennington 2274 GL - What should I pay

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rrp0968

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Per my previous thread, my wife and I are in the market for a pontoon. Would really prefer to buy used and let someone else take the hit on initial depreciation. Also, may only really be using for a few years until our daughter goes off to college. Looking to maximize family time while she still has some interest in being with parents.

I have a found a 2014 Bennington 2274 GL with a 200 Yamaha. Seller says engine only has 35 hours which seems really low to me for a 7 year old boat. Also includes a trailer. They are asking $45,500.00. Is this a fair price? Seems a little high to me. NADA says average retail is around $38.000. But, I do understand pontoons are are at a premium right now.

I have also got a call scheduled for tomorrow to discuss a new one with a Bennington Dealer. Only issue is that they are about 2 hours away.

Anyway, just wanted to get some opinions on this before I discuss it with the seller tomorrow.

It is also my opinion that the used market is going to be flooded in a year or so with folks that bought pontoons during the pandemic and want to get out of the payment or just don’t used them as they thought they would.
 
rrp0968 said:
Per my previous thread, my wife and I are in the market for a pontoon. Would really prefer to buy used and let someone else take the hit on initial depreciation. Also, may only really be using for a few years until our daughter goes off to college. Looking to maximize family time while she still has some interest in being with parents.

I have a found a 2014 Bennington 2274 GL with a 200 Yamaha. Seller says engine only has 35 hours which seems really low to me for a 7 year old boat. Also includes a trailer. They are asking $45,500.00. Is this a fair price? Seems a little high to me. NADA says average retail is around $38.000. But, I do understand pontoons are are at a premium right now.

I have also got a call scheduled for tomorrow to discuss a new one with a Bennington Dealer. Only issue is that they are about 2 hours away.

Anyway, just wanted to get some opinions on this before I discuss it with the seller tomorrow.

It is also my opinion that the used market is going to be flooded in a year or so with folks that bought pontoons during the pandemic and want to get out of the payment or just don’t used them as they thought they would.
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The only thing I can add is to not look at this as a depreciation hit type of purchase. Most people on here purchased their Bennys new because there isn’t a big depreciation hit with the used market, it’s what makes Bennington boats great, in my opinion. Many buying new now are getting their 10 year transferable warranty to go along with it, only helps the resale if and when they want to sell
As far as there being a flooded market of used pontoons next year, maybe. But I don’t think there will be that many used Benny’s on the market.

Maybe i am just a fan boy but I honestly don’t know how well a strategy will be to buy used for a steal, keep for 2 years and sell. Because used or new, you’re buying at the peak of pontoon demand and sellers know that. And that’s a fact that buyers are realizing.

so best option is to wait next year and see if the market is flooded as you hope. Otherwise you will be paying a demand premium for any used or “on the dealer lot” Bennington right now.
 
rrp0968 said:
Per my previous thread, my wife and I are in the market for a pontoon. Would really prefer to buy used and let someone else take the hit on initial depreciation. Also, may only really be using for a few years until our daughter goes off to college. Looking to maximize family time while she still has some interest in being with parents.

I have a found a 2014 Bennington 2274 GL with a 200 Yamaha. Seller says engine only has 35 hours which seems really low to me for a 7 year old boat. Also includes a trailer. They are asking $45,500.00. Is this a fair price? Seems a little high to me. NADA says average retail is around $38.000. But, I do understand pontoons are are at a premium right now.

I have also got a call scheduled for tomorrow to discuss a new one with a Bennington Dealer. Only issue is that they are about 2 hours away.

Anyway, just wanted to get some opinions on this before I discuss it with the seller tomorrow.

It is also my opinion that the used market is going to be flooded in a year or so with folks that bought pontoons during the pandemic and want to get out of the payment or just don’t used them as they thought they would.
Click to expand...
Your lucky to have even found a used Bennington. So I would say if it's in your price range BUY IT!
 
LOL, I went through the same dilemma but found I could not save enough going used vs new, I started looking over a year ago. Plus after realizing all the features I wanted, I did NOT see a single used boat listed that came close to what I really wanted. You only live once, go big!!
 
ILLINOIS AVE said:
Your lucky to have even found a used Bennington. So I would say if it's in your price range BUY IT!
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Wasn't too long ago where members on here were saying they can sell their used Benny for more than they bought it a few years prior. That's what we call "appreciating asset"...haha....how nice
 
Is this the norm on a Bennington is is this the pandemic cost spike?

I am really torn on buying new vs used.

Gonna chat with the seller on the one 2476 tomorrow and see how that goes. May be sold already for all I know.

If that does not work out, may keep my eyes peeled for a week or two on the used market to see what pops up.

There is also the sales tax savings on a private party transaction......which is 10.5% where I live.
 
rrp0968 said:
Is this the norm on a Bennington is is this the pandemic cost spike?

I am really torn on buying new vs used.

Gonna chat with the seller on the one 2476 tomorrow and see how that goes. May be sold already for all I know.

If that does not work out, may keep my eyes peeled for a week or two on the used market to see what pops up.

There is also the sales tax savings on a private party transaction......which is 10.5% where I live.
Click to expand...
Benningtons are known for holding their value pretty well. But the pandemic has put everything into a supply vs demand nightmare, going back to the shutdowns of last year. Dealers aren’t even coming off MSRP much of the time because they don’t have too. Most of us ordered late last year and taking deliveries around now, luckily it doesn’t seem Bennington was sticking it to us ordering custom.
At this point in the year, placing an order for a new one, depending on the engine, could easily take you into the summer season once you get delivery. Some on here have said their dealers have quoted a few months but it seems most of us are seeing higher times. I placed my order Nov 1, delivered late Feb, waiting on engine to be delivered in 2 weeks. Expect boat late this month. So 5 months for me.
 
I looked from May until November, but in the end I think it was worth waiting until I found a deal I was comfortable with. However we have friends with a boat so it isn't like we lost a summer
 
rrp0968 said:
Is this the norm on a Bennington is is this the pandemic cost spike?
Click to expand...
Antidotally, I‘d say it is more than the pandemic, and somewhat a norm. At least since we placed our order at the end of 2016 on our 2017 Bennington, most of those that have sold a Bennington and commented around here, have reported these sorts of resale results. I think it speaks 1) to Bennington’s being a premier brand that holds their values, and frankly b) which is the enormous year on year increases in the costs for new boats.

Not sure if that helps you either way. However, it’s certainly not due to pandemic cost spikes. That said, I think the pandemic has significantly impacted for the worse negotiating power of buyers, and willingness to be flexible by sellers. No doubt about it.
 
Well....the Bennington Dealer I am a reaching out to tomorrow has a lot full of them. Maybe they will have one for me.
 
rrp0968 said:
Per my previous thread, my wife and I are in the market for a pontoon. Would really prefer to buy used and let someone else take the hit on initial depreciation. Also, may only really be using for a few years until our daughter goes off to college. Looking to maximize family time while she still has some interest in being with parents.

I have a found a 2014 Bennington 2274 GL with a 200 Yamaha. Seller says engine only has 35 hours which seems really low to me for a 7 year old boat. Also includes a trailer. They are asking $45,500.00. Is this a fair price? Seems a little high to me. NADA says average retail is around $38.000. But, I do understand pontoons are are at a premium right now.

I have also got a call scheduled for tomorrow to discuss a new one with a Bennington Dealer. Only issue is that they are about 2 hours away.

Anyway, just wanted to get some opinions on this before I discuss it with the seller tomorrow.

It is also my opinion that the used market is going to be flooded in a year or so with folks that bought pontoons during the pandemic and want to get out of the payment or just don’t used them as they thought they would.
Click to expand...
As others have pointed out they do tend to hold their value. The G series has now been replaced by the LX series. If you price out an LXL in the same size with the same motor it would probably run you around 60,000. That’s not a bad discount for a used one. You could look at an SX or the L series and have an amazing boat for a similar price to the used one. Keep in mind, a new one does have the 10 year warranty and a lot of nice updates. We looked at purchasing some thing about five years old but as others have commented there wasn’t really much of a price drop compared to new. Also, my wife didn’t want a carpeted boat so anything older than five years was basically out of the question. After lots of looking and research we decided to buy new because of the warranty, upgrades we could choose, and the fact we could get our last boat first. Good luck on your adventures!
 
Used Bennington's are pretty hard to find around us. The ones I did find, I could buy a new one cheaper. The dealers in southern Ky, and Nashville, Tn have some great discounts going on new boats.
 
So, just curious. Where did you see the 35 hour boat? Hope you bought it. How did it turn out?
 
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