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Originally Posted by catastrophe
(Post 3267545)
If the dealers take on that floorplan idea they will be the next guys being walked to the curb by the beancounter from Liberty Associates.
Its not the environment to do that in now. My first FP to take on Fountain was only $1mm. I did 3-4MM a year wholesale with them on that 1mm alone. You don't need any more than that to make it work. And that was almost 10 years ago........ |
I agree.
Debt is debt..........I dont care what the source is. |
On top of the debt/sales issue, how many buyers have been spoiled by the "inventory blowout prices" on leftover models. If you could buy a new leftover 08 38 Lightning w/525's for 189K (asking) how is a dealer going to ask 350K for the same boat as a 2011 model?
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Originally Posted by Jupiter Sunsation
(Post 3267641)
On top of the debt/sales issue, how many buyers have been spoiled by the "inventory blowout prices" on leftover models. If you could buy a new leftover 08 38 Lightning w/525's for 189K (asking) how is a dealer going to ask 350K for the same boat as a 2011 model?
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Originally Posted by cosmic12
(Post 3267519)
And you my friend along with a few, very few, small custom builders that are not in dept with a large overhead
are the ones that will still be around in the years to come. Somehow you guys, A.T. , Pantera, Sunsation, and a few others that don't have the big money /oversea's customers need to figure out how to get the banks back on line for the everyday average joe working schmuck to get back in the game. Who the hell are these guys kidding? 5m. floor plan from the get go? Never gona happen, they will be lucky to do 1---2 boats a month. |
Banks are going to need a few years to forget about the beatings they took on boats, airplanes, rvs and other toys. The housing bust was hard enough on them and those "assets" couldn't move/get stolen/stripped etc.
I recently heard of a guy with 20MM in assets get turned down on a new 4MM yacht with a 1MM downpayment. Bank didn't want the risk, if it repo'd the yacht the 1MM wouldn't even cover year 1 depreciation. Buyer didn't want to pay cash for it, thought cash was way more important than a boat so NO SALE. |
Prices have got to come down on new boats. In the last 10 years boat prices have sky rocketed! The average joe blow could only afford a new boat because of the crazy (dumb) 10 - 20 year loans the banks were offering. This is what got the boat industry in trouble in the 1st place. Now that banks are not financing anyone for crazy long terms, things are going to have to change.... 28 ft single engine's for over 125k ? Come on, how many "normal" people can afford that?
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Fountain should have worried about making his boats more affordable rather than trying to prove how fast they are to everyone.. then maybe the company wouldnt be bankrupt.. just my 2 cents..
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Originally Posted by Baja555
(Post 3267935)
Fountain should have worried about making his boats more affordable rather than trying to prove how fast they are to everyone.. then maybe the company wouldnt be bankrupt.. just my 2 cents..
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Originally Posted by bms26
(Post 3267797)
Prices have got to come down on new boats. In the last 10 years boat prices have sky rocketed! The average joe blow could only afford a new boat because of the crazy (dumb) 10 - 20 year loans the banks were offering. This is what got the boat industry in trouble in the 1st place. Now that banks are not financing anyone for crazy long terms, things are going to have to change.... 28 ft single engine's for over 125k ? Come on, how many "normal" people can afford that?
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Maybe it will stabiliize when NEW boats are sold to people who can actually afford NEW boats. Part of affording a new boat is covering the depreciation hit. That's what Nortech, CIG and OL do - sell boats to clients that can afford them.
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Speaking of prices coming down....Merc needs to drop its ridiculous pricing.
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Originally Posted by seafordguy
(Post 3268099)
Maybe it will stabiliize when NEW boats are sold to people who can actually afford NEW boats. Part of affording a new boat is covering the depreciation hit. That's what Nortech, CIG and OL do - sell boats to clients that can afford them.
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Here's the problem:
Government can’t print money properly B]Because of a problem with the presses, the federal government has shut down production of its flashy new $100 bills[/B] |
Originally Posted by Jupiter Sunsation
(Post 3267374)
Does anyone here even know anyone that is seriously considering a purchase in the next 6 months of any of the 4 brands?
I can't speak for the 4 brands listed but I know Sunsation has sold at least 14 boats over the last year. Also here in the midwest RV's are still selling surprising well. The mark up on them is thru the roof too. |
Originally Posted by Baja555
(Post 3267935)
Fountain should have worried about making his boats more affordable rather than trying to prove how fast they are to everyone.. then maybe the company wouldnt be bankrupt.. just my 2 cents..
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Originally Posted by Jassman
(Post 3268013)
The price of materials also would have to come down... and I do not see that in the future. I know resin has gone up approx. 35% since 06... To many factors, and to be honest, if these builders were making so much money over the top, even with slow sales, why are the majority of them out of business. Tough times right now, but I do see a light at the end of the tunnel.
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Originally Posted by Jassman
(Post 3268013)
The price of materials also would have to come down... and I do not see that in the future. I know resin has gone up approx. 35% since 06... To many factors, and to be honest, if these builders were making so much money over the top, even with slow sales, why are the majority of them out of business. Tough times right now, but I do see a light at the end of the tunnel.
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Originally Posted by racer-x6
(Post 3268175)
Jeff, which tunnel are you looking in? because the one I'm looking in must have a 180 deg. bend in it.
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