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Why are used prices so high?

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crvtt

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I looked online at a 2010 R tritoon with 150hp, they wanted $49k used!  The salesman called me and confirmed that was the correct price. I can buy that same boat brand new after a 30% discount for low $40s!  I'm in the car business and these prices just don't make sense to me.   Today at the auction I watched a 2008 Mercedes S550 4Matic w/AMG sport packge ($106k msrp), 56k miles, in excellent condition, go through for $28,400.   That price was fair market wholesale, with the retail price being somewhere in the low $30s.  That's the kind of depreciation that I'm used to.  There's no way I can buy a used 2008 boat in excellent condition for low $30s that was originally $106k new.   It almost seems like used boat sellers want us to think all new boats are sold for msrp with no discounts.

I'm just venting and wonder if anyone else is as frustrated by this as me?  What I want is a 150HP tritoon or eliptical, and can be had new for $35-40k after discounts.   I figured I could buy a used one in the low $20s 3 years maybe 4 years old.  So far, that isn't happening.  
 
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Good luck - I bought a 2004 22 ft tritoon 150 HP bennington 2250RL in good condition last yr and paid 20K.....so figure that was a 9 yr old boat not 3-4yr.  Fact is when I was lookign around there were not many used tritoons on the market.
 
Where are you located?
 
I'm in Pittsburgh, PA.  Quite a few rivers and lakes around here, lots of boats for sale.  It's not just pontoon prices, but all types of boats.  In my area there's mostly Express Cruisers, Bow Riders, and Pontoons.  I also like the Chaparral bow riders, and there too, new prices are more attractive than used.
 
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You'll find it difficult with Bennington, these things hold their value!

I kicked around the idea of upgrading my '11RCW for a '15 RCW w/ESP. 3 yrs old w/ 96 hours and dealer will buy for 26% less than I paid for it or will sell it for me on commission for 14% (estimate) depreciation.
 
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What you want is a Sun Tracker.
 
I thought the same thing when I was looking in SW Michigan.

I was looking at a 2008 with a 50 HP Yamaha. I ended up with a 2014 20 SLMX wtih a 70 HP with a few other extras such as tow bar, upgraded stereo and Kicker Speakers ang G captains chair etc. The difference in cost was about $3500. It was a no brainer to me to buy the new boat with a 7 year warranty on the boat and 5 year on the engine.
 
Crvtt  I agree, used Bennington cost a lot. I found that out looking for a 2011 and 2012 2375 - 2275 RCW. For a little more I could get a brand new Bennington just the way i wanted it. So last April I took delivery of a 2014 2375 RCW. By the way, I worked with three dealers in two states. None of them came in with a 30% discount. The best I could do was about 25% with a few freebies. Good luck.  
 
I'm glad that the used prices are high.  My dealer just offered me more as a trade in for my 7 year old boat than I originally paid for it. ;)

My dealer quoted me 11% off of the list price on Bennington's website.
 
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What dealer has a  new  R tritoon in the low $40 's with a 150  ? I hope the used prices stay up .I may want to trade in again .
 
Supply and demand. Similar to what was stated above, there are also used cars that cost more than they did new. Supply and demand. Not much demand for used Sun Trackers... If you don't want to pay much, that's what you want.

Actually, you are thinking about this all wrong. You should be HAPPY to pay more for a used Benny. After several years, you may still be able to get 80% of what you paid. Buy a used Tracker for half what it was new and after several years you may only get back a third of what you paid. IF you can even find someone to buy it. Now ask yourself which is the better deal?
 
Jack, building out a new tri toon R on the website I come in around $63k with a few options.  $63k-30%= $44,100.   Maybe that's more mid $40s but it's still cheaper than the used one.  Even if you went with a 25% discount, the new is still less than the used.  I'd rather be happy about buying a new one than a used one at the depreciation rates I'm seeing.  I don't want a new one, but I'm not going to buy used to save 10%.

Kaydano,  I can't think of any 3 year old cars that cost more now than they did new, barring maybe a hanful of exotics, but pontoon boats aren't comparable to exotic collector cars.  

The example that Sanity3 provided is what has me confused.  Why would anyone buy a used 3 year old boat only to save a few grand?  That's what I don't get, who is buying the used boats when a new one is only a few grand more!?!?  
 
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Did you also figure ,prep ,rigging shipping , tax , registration  ?
 
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Supply and demand. When I started to look for a used pontoon, the cheap ones I found were trashed and the prices were high. In my area, toons have become very popular. Many people were getting rid of their speed boats and going to toons for various reasons. Hence, the nice toons were almost as much as a new toon. I could have saved maybe $10,000, but I never found exactly what I wanted. Hence, I ordered it my way and look forward to having a new rig with warranty.

Cheers, Steve
 
They hold their value. People pay those prices for used, and it helps sell new. Win/win for Bennington and those who own them. Good luck on your search.
 
This is why you have to take care of your boats gentlemen.............. My boat is 10 yrs. old, in great shape (except for the faded cover)  runs like a champ, pulls skiiers/wakeboarders/tubers, and has been paid off for years! The only equipment I wish I had is in floor storage and a double bimini. I'll keep this boat forever unless something happens to it. Benny boat prices are CRAZY!!!!!!!!
 
Avg off MSRP is typically around 22-25% off unless it's a leftover. This time of year boats draw top dollar. Like others said, you get what you pay for. You are not going to see 40% off MSRP, if you do, jump on it !! Don't get mad if you don't like the answers, you asked the question. Some of us just don't sugarcoat the answers .... :)
 
crvtt said:
Kaydano,  I can't think of any 3 year old cars that cost more now than they did new, barring maybe a hanful of exotics, but pontoon boats aren't comparable to exotic collector cars.  
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I apologize for not applying enough sugar previously, but I'll keep my streak alive just a bit longer here...  I think you are missing the point.  I too can't think of any 3 year old cars that cost more now than they did new.  But you were the one that initially compared boat prices to car depreciation in your original post, so I simply was following that train of thought.  The point is simply if the demand was high, and the supply was not, a 3 year old car could sell for more than it did new.  Much older cars can certainly cost far more.  It was a point about supply and demand driving the prices.

Selfishly speaking, I would LOVE for there to be a 6-month wait to build a new Bennington.  Except for the very astute reading this, most people waiting for a new boat would probably disagree with that statement, but once they think through it and realize that after the initial wait (which we all went through), then that 6 month waiting period would have a huge impact on minimizing future depreciation.  Again, it boils down to supply and demand.  People buying a new Benny off a dealer lot, those buying a used Benny, and those waiting for a new Benny to be built ALL benefit due to the supply and demand.

So, buy the used Benny.  Or buy a new Benny.  It doesn't really matter.  It all depends on the best deal you can find in your area.  Or have a new one built.  But in any event, you will hold your value longer with the Benny because of what you are venting about.  In my mind, that is more important than the initial "price" of a Benny vs some other manufacturer.  You can't just look at initial cost, you have to look at the total cost of ownership, which includes what you sell it for or get on a trade-in.

I'll bottom line it like this:  What you are venting about in your initial post above is actually a good thing for Benny owners.  Join the club, you'll be glad you did!
 
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All this talk about high resale value is giving me a P.A.D.s moment  :eek:
 
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