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Why are used prices so high?

They are not cars so you can't compare it that way. How many ford or chevy trucks are made per year?

4 to 6 month build time for a custom Bennington?

It's a great problem to have. My dealer offered me 91% what I paid for mine 2 years ago towards a new tower model. That is a great situation.

Added, my motor is a model year newer because I allowed them to pull mine for another owner that was waiting impatiently. since I wasn't in a hurry to have it in the water (it was March in Ohio), I got the Pro model w/ extended warranty in exchange.

Your not going to see that much off retail unless the are floor stock end of season or leftovers.
 
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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Apparently you've never watched Mecum Auto Auction. There are HUNDREDS of cars, both new and old, basic and exotic, going for well over initial selling price. A USED Cadillac CTSV goes for 45-50k. Yes, this would be the Bennington of the car world.

Harley's and John Deere are just a couple I can think of that seem "over priced" but you get it back when you sell.

I just stopped at Bass Pro, and checked out the Sun Trackers and they are POS compared to a Benny. Yes, you will pay less, and it will get you from point A to point B, but in a couple years it will probably look like crap (quality of materials used) and you'll sell at 30 cents on the dollar, or 70-80 cents on the dollar for a Benny. I spent more on this toon, than ANY vehicle I've owned prior. There's a reason for that, and I'm a cheapskate. I decided to invest in the very best. I hope you choose to do that too. You won't regret it.
 
Because they're worth it.

The person who bought my last "used" boat donated more in one year than I will make, gross, in the next 25-30 years. Literally. These are quality boats. He could have easily bought any boat he wanted, he bought my used one. Of course, he probably paid for it on his credit card, what I will be paying for for 20 years. The fact that they do hold their value so well is what has allowed me to trade mine in and be able to "afford" a new one. So as much as you think it sucks when you are buying it, you will be loving the same fact if/when you sell it!
 
I for one am glad they hold their value. I only lost sales tax on my 13 when I sold it to get our 14. Using a boat for a summer and loosing sales tax, heck yeah! I just wish I had a power bimini with the canopy now....

What I can't stand is a used boat that is beat to crap and they think it is worth $$$$$$.
 
My wife would kill me if I dared to mention trading for a new one next year...but it might just be worth it!

Won't be able to use the "last boat first" chant next year though :(
 
Kaydano,

I agree, not exactly sure why yet but i do. We did a bit of shopping but where not looking for a used boat. Had our minds made up when we went to the Los Angeles boat show. Waited months for the show then compared the boat we were totally going to purchase with the Bennington and never gave a second thought to the much higher price. When you compare the quality and in our case, it was the last one we plan to buy, it was a no brainer. We have a budget too but we decided it was all in or wait until we could. On another note; in hind site, I think i would have paid more just to be allowed in the forum. LOL

In truth, we haven't been able to take our boat out much due to the California drought but still agree it was a good purchase.

Leslie
 
I should have made it more clear, I'm perplexed by used boat prices in general, not just Bennington. Everyone likes to trash the Suntracker, but even there I see high used prices. Local dealer has an 09 Suntracker regency, 150hp Mercury, twin logs w lifting strakes, $25k!!! That's certainly not 30 cents on the dollar like Semper Fi suggested. I've never had a boat before, I'd love to pay 30 cents on the dollar to buy a used Suntracker, learn on it, bump and scratch it while I learn to dock, figure out what I really want and like in a boat, then upgrade to a new Bennington. But, at $25k for a used Suntracker, id rather go for a new Bennington.

I'm glad for everyone here used prices are so high, it makes your decision to buy new a no brainier. 5% depreciation or less per year is fantastic in my opinion.
 
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The way I see it, there are three issues impacting used pontoon prices.

  1. Demand for Bennington. We’ve beat that horse.
  2. Pontoons are dependable and last. Show me a 20yr old fiberglass runabout and I’m confident I can show you weakened/spider webbing in the glass. Show me a 20yr old pontoon and I'll show you some worn/sundamaged furniture.
  3. Pontoon boats are no longer the slow cruiser that once was. Today you see more and more baby boomers moving from their go fast boats to ~50mph party barges, that are far more comfortable, less expensive to operate/own and can perform almost as well as their old boat.
  4. I’m adding this here as you are in the auto business…. I read somewhere that the average pontoon boat was financed for 15 years. I keep thinking about how far behind someone with a 10,15, or 20yr note would be if boats depreciated like cars do.
 
Spinzone, your comment regarding financing makes the most sense I've ever heard for why used boat prices in general are so high.   Most luxury goods, like high end televisions, furniture, clothes, shoes, etc. don't hold their value at all, but they aren't financed with a traditional loan with a payoff.   I've never heard anyone suggest what you have and I really think you've hit the nail on the head.
 
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I don't keep cars, houses, boats, wives very long. I've become a pro at analyzing the return on investment and value of depreciation!
 
spinzone said:
I don't keep...... wives very long.
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Then there's the repaired damage issue. Two summers ago, my wife fell on the stairs and needed to have a plate and screws put in her ankle. That damn repair now shows up on her Carfax and I can't trade her in for anywhere near what I owe on her. Should have traded well before that little mishap. :)
 
spinzone said:
The way I see it, there are three issues impacting used pontoon prices.

  1. Demand for Bennington. We’ve beat that horse.
  2. Pontoons are dependable and last. Show me a 20yr old fiberglass runabout and I’m confident I can show you weakened/spider webbing in the glass. Show me a 20yr old pontoon and I'll show you some worn/sundamaged furniture.
  3. Pontoon boats are no longer the slow cruiser that once was. Today you see more and more baby boomers moving from their go fast boats to ~50mph party barges, that are far more comfortable, less expensive to operate/own and can perform almost as well as their old boat.
  4. I’m adding this here as you are in the auto business…. I read somewhere that the average pontoon boat was financed for 15 years. I keep thinking about how far behind someone with a 10,15, or 20yr note would be if boats depreciated like cars do.
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Totally agree
 
I have to chime in here,All great comments and points. Being a classic car guy ,old motorcycle and new Pontoon owner, that rarely sells any vehicle. (Original owner 1978 Trans Am, I think I may get a decent return on that some day) But for me It is about the enjoyment of ownership and full usage of the vehicle, When I cost that out over 5, 10, 20 plus years, (And cost for new will continue to rise on everything we  enjoy)  It is a no Brainer, Lets enjoy what we can , while we can, because we never know when the final bell will ring. 

Just saying
 
Just thinking ,there are most likely people who are waiting for the price of gas to come down .

That could also cause the demand to rise .
 
Jack M. said:
Just thinking ,there are most likely people who are waiting for the price of gas to come down .

That could also cause the demand to rise .
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Quite the opposite can happen, too, Jack. Price of gas goes up, people look to ditch their gas guzzlers and buy more pontoons. My big boat, a 24' cuddy with 454 can go through $200/day in gas, plus the big vehicle to tow it around. If gas went to $10/gallon, we could figure out a way to have a day's worth of fun on the Bennie for $20 (a lot of floating, I know, but still fun). Plus, I could (if I had to) get away with 1/2 of the muscle needed to tow the big boat.
 
Echoing the S&D comments - how many 15 year old pontoons are out there with three tubes and 150HP+ motor?  There are some, but very few.  This "style" of boat is relatively new so there isn't a significant amount of used inventory out there driving prices down.  I spent 18 months scouring Craigslist and Boattrader, etc, looking for a nice used tritoon before we finally gave up and bought a new one.
 
You also can't really compare the asking price of a used boat with the discounted price of a new boat.  Just because someone is asking for $X for a used boat doesn't mean that's what it will sell for.

What do you get if you compare asking price of a used boat with the MSRP of a new boat?
 
spinzone said:
I don't keep cars, houses, boats, wives very long. I've become a pro at analyzing the return on investment and value of depreciation!
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Part 4 of your portfolio is flawed. Cost of maintanance, daily management headaches, combined with a minimum 50% depletion of assets to return to open market: makes it a highly speculative investment. I also highly warn of outside and unauthorized asset penetration during ownership.
 
Willb said:
Part 4 of your portfolio is flawed. Cost of maintanance, daily management headaches, combined with a minimum 50% depletion of assets to return to open market: makes it a highly speculative investment. I also highly warn of outside and unauthorized asset penetration during ownership.
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Excellent advice. Don't forget, past performance is not a predictor of future gains!
 
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