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Shogren on Used Boats: "Be prepared for reality."

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Old 03-24-2011, 11:45 PM
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Im 27 I dont know if Im the next generation but let me say this. Every generation has it easier, you had it better than your dad and so forth. I will agree that kids born late 80's and 90's definitely lack something that people in their late 20's early 30's have. I would agree kids these days are coddled compared to the past but most of these kids are the children of people that are posting here, so whos fault is it? Second in todays world the factory life is gone jobs are tech jobs and computer realated things. So doing the things in the past maybe doesnt benefit people like it used to, like teaching your kid to build a car well chances are he wont work in a factory or even ever build a car or anything else for that matter because he will have work more hours and not have time to do it.
Let me say this the most decked out camaro in 1969 cost around 4 grand in todays money thats like 18-20. Today you cant get into a decked camaro for under 35 and on top of it you can work on it anymore unless you have computer knowledge. Things just cost more money these days

I would agree with you on some of this to a point, but times do change and let me remind you there are people in my generation including my self have been fighting in wars for 10 years now and let me tell you some of this next generation isnt so bad. This next generation might not have as great of a work ethic or like to be hands on but we are smarter, more tolerant, and willing to learn new things than older generations.

With any generation your going to have rich the poor and then the rest of us. Im sure there are a lot of hard working people in here but I bet theres a lot of people in here that are old money and at some point in time some have received money or big paying job from a parent or other family member. Will all of this everything is relative.
Yes you and jmeng seem mature for your ages and hopefully many more of your age group out there have your level of maturity. This is really not off topic - in an interesting way we are all talking about the boats we love and yearned for, and the realities we went through to get them. As an example I always wanted a 42 Fountain, and now I have one with 525's, and it is as fun and reliable as I dreamed it would be! It's not as fast as a lot of other boats, but 82-85 depending on load and weather is fast enough for me and it can do it in 2-3 ft waves. Yes times are changing but interest in products runs in cycles and boat sales will rebound at some poiunt not too far off when the economy stabilizes. At Jefferson Yacht they will take your older Marlago and refirb it for a fraction of the cost of new. Fountain could do that too as their models don't change that much from year to year either. I think boat builders could call owners to ask them to consider a refirb until new sales pick up it might be a way to weather the tough times.
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Old 03-25-2011, 12:05 AM
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Everything is worth what someone will pay,
no more
no less..
I agree. It's only worth what someone will pay. Regardless of any book value.
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Old 03-25-2011, 12:49 AM
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Bravo : Fountain4402
Jmeng
Endeavor1
And all the rest of you guys who think the same way....
I'm proud of you guys !!!Someone has to carry the banner and you guys are going about it in the right way !
This country has always seen bad times ,they will come and go again as they have in the past. Just may take a little longer this time. I'm positive of that... Good luck


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Old 03-25-2011, 02:27 AM
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I agree. It's only worth what someone will pay. Regardless of any book value.
So true- that concept brought us right to the brink of ruin and financial disaster.

Mark to Market accounting - you may have paid 900K for your house but a year ago the most youd probably get was 500K so thats what it was worth all of the sudden and for loan purposes and mortgages that what you would get a refi for.

with no assets held out for a better deal and only the instant right now value considered we almost went over the edge.




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Old 03-25-2011, 04:36 AM
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Would Scott or someone with knowledge comment on SBA's new pilot program for dealer floor plan financing launched last month?

Is this badly needed relief for smaller boat dealers or just another bull**** "fix" from Washington, like HAMP?

Dave hit the nail on the head as far as the underlying problem causing dysfunction. The result of course is that banks often can't cover their losses on repo boats if they sell at current market prices. Neither can upside-down owners. So there's a lot of "shadow inventory" sitting unsold.
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Old 03-25-2011, 07:37 AM
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Hmmmm

Last edited by dodgeman111; 03-26-2011 at 10:19 AM.
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Old 03-25-2011, 08:02 AM
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Would Scott or someone with knowledge comment on SBA's new pilot program for dealer floor plan financing launched last month?

Is this badly needed relief for smaller boat dealers or just another bull**** "fix" from Washington, like HAMP?

Dave hit the nail on the head as far as the underlying problem causing dysfunction. The result of course is that banks often can't cover their losses on repo boats if they sell at current market prices. Neither can upside-down owners. So there's a lot of "shadow inventory" sitting unsold.
Floorplanning through any common source (GE, Textro, etc) is, to put it mildly, VERY difficult even in the best of times. You need plenty of cash, lots of assets and the right contacts. Like most SBA programs I think this one is mainly smoke and mirrors. It would take 6-12 months to put into place and more than likely not really work for dealers. Boat dealers work very differently than car dealers. I have not read through the program but I'll try to get my hands on some info and see what the details are.
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Old 03-25-2011, 09:10 AM
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True. Actually I'll be very happy with my boat soon I'm sure. I got a ton more boat than I could have if I went new. I have to love the blue motors in a cruiser. Surprises a lot of people. I've had a lot of issues but after putting in another 10k It should be awesome. My question is : Do any used boat dealers offer any warranty or am I just not used to the boating industry?
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Old 03-25-2011, 09:44 AM
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Thumbs up Without being political!!!!

Without getting political, the current administration does not seem to like the marine industry to much.

If you do not have a good local bank you can work with you will have problems. Trying to get floor plan today in the marine industry is very difficult and getting an SBA outside of real estate purpose in marine is next to impossible.

Until small business is back in business and start hiring people, the problem will continue.

This is what we refer to as the "New Economy" and you have to find ways to survive and make money. If you can make money now and then it gets better you will be that much further ahead.

Regards,

Scott Shogren

www.teamshogren.com


Quote:
Originally Posted by Plumb_Gut_Phil View Post
Would Scott or someone with knowledge comment on SBA's new pilot program for dealer floor plan financing launched last month?

Is this badly needed relief for smaller boat dealers or just another bull**** "fix" from Washington, like HAMP?

Dave hit the nail on the head as far as the underlying problem causing dysfunction. The result of course is that banks often can't cover their losses on repo boats if they sell at current market prices. Neither can upside-down owners. So there's a lot of "shadow inventory" sitting unsold.
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Old 03-25-2011, 09:50 AM
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I feel that consignment hurts the value of boats.

Shogren or any other dealer dont care about you or your boat or how much you have into it.
they dont want your boat sitting around in there showroom so the cheaper they listed the faster it sells,

on an average dealers charge 10% to sell your boat,if your boat is worth 100k and they list it for that it might sit around for a while and it cost them money and at the end of the sale they make 10k,so if they listed for 75k the boat sells much faster,they collect $7.500 from you and they move on,
they made money while you gave your boat away.

just my 2 cents
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