crb76

Teddy, Thank God I live in Texas and own an AT!

In all seriousness…You have to be an ill-liquid SOB or have too much money to count to even consider selling your boat in this market. The lack of banks willing to be in recreational lending and a lack of a competitive insurance market makes it a hold! If you can’t afford to services your debt on your boat then you probably shouldn't be in it in the first place. Sorry to be the a-hole here but that is why this country is so f'd-up right now.

LapseofReason

The problem is that it's not what it's worth it's how much the bank needs for it or how much the owner needs to get out of it. Then the others are forced to lower your price or keep it.

The only other thing you could do is buy every boat like yours and keep them till the market comes back, good luck with that.

But after Obama spreads the wealth we will all be fine.

1bagger

This is why I say "never borrow money for toys ".

LapseofReason

True to a point but if that was the way it was there wouldn't be any boat builders.

I do more of don't borrow for a toy you cant write off on your taxes. and even rich people borrow for 500k and higher toys, they make more with the cash than they loose on the toy, if they do it right.

seafordguy

Lots of people wouldn't agree with this, and I'll be the first to do so.

I agree that people shouldn't borrow money beyond what they can afford in order to buy toys, but I'll tell you this - I am not going to spend cash on a boat (not that I could), when my equity line is at 3.75%, and 1/3rd of that is tax deductible.

But in the end it is everyones choice. Some don't feel comfortable being leveraged, and some do. In my case - I evidently love it.......

MikeyFIN

Come to think of it, From Maroc theres not that far to Gibraltar or costa del sol or Madeira ( less than 30 miles).And Maroc is a US backed Muslim country so they do favoour at least to some degree Made IN USA stuff And I could think Cigarettes are to their likins after watching their street scene with the cars they chose to run around, VERY UPSCALE.
Although I asked locals at Rabat the last time I visited there where´s all your Marinas,, the answerI got was a big one is being built in Casablanca ( it should be ready by now) but muslims in general somewhow feqar the sea.. i asked why and thought there coulöd be aq business there teaching them powerboating and sailing....
But fisrt I have to learn French at least as there´s no chance of getting understand in English.

MikeyFIN

Same happens over here..
I did 10 yrs ago Repos and chapter 11 overseeings here and it started again this fall.
Last Friday two trucks got sold for less then 50% of the market value..or the market is 50
% down currently.
Actually I´m Happy some rotten tomatoes will be off competing as it levels the field a bit.

MikeyFIN

Nice try but I´m the Father of two stunning
blondes named Julia Carol Shelby and Emilia Lisa Patricia.
Also Im not homofobic or politically challenged as some..

If you want a succesful night club ( and those do make loaqds of money ) for example hire Gay( ?) good looking and muscular Males.
Why, well the Girls all want to try to score or just be around them as they won´t harrass a woman even if they would be out by themselves alone in a powerboat.
Plus the male customers will follow the girl customers...usually.

But I won´t squel like a pig or bend over.

MikeyFIN

Not even the Banks will let them go for that low a price publicly, all the other rotten ones probably but not the Brand that is the most recognized.

MikeyFIN

Yes and no...
If you credit it personallly no tax witdraws but if you buffer it thru a company then maybe yes even in the states right?

Want to know how some racetoys have so much stickers on them and some don´t ?
Not necessarily sponsors but "sponsors"... If you know what I Imply you must be a racer...