We'll Americans are finally paying their bills....

To be fair, NL had a gold rush of inventory in a few years......Passport Marine = 200 Formulas in less than 1 year. They also got some dealer inventory when the floorplan was not renewed......They also started retailing boats/consignment as well as storm recovered boats so they had a good mix of things going on.

Just think, if republicans were in office. We would be out of this mess and we would all be buying new boats.

But now, here we are. Still suffering.

I'd say that few repos shows the banks have had such tough loan restrictions the last 5 years that there have been very few loans issued to anyone who couldn't afford the boat in the first place.

Agree, also there are just not that many people buying boats , high fuel prices are killing the boating industry.

FYI most banks are now financing boats with 620 credit score above. Boats here in Oklahoma are selling like hot cakes... We clean up and inventory the repos here on grand lake for 3 banks and only had 2 last year. If you can't pay your bills and credit score is 575 then you don't need a boat in my opinion. This is the crap that got us in trouble in the first place. They put these people in houses they couldn't afford and screwed the good bill paying people. For example when I lived in kc my house was 225k and a lady next door who was single ,two kids she got approved and moved in . She worked at the local goodwill and didn't even have a couch etc. then more like that moved in neighborhood and boom economy tanked and my house value dropped to 66k because of the auctions on foreclosures. It finally just now got to 135 and we have it rented but I'm glad they tightened up the credit. Sucks for sales but protects people who are responsible. I've seen people buy boats and have to make payments on life jackets and that's ridiculous

i think alot of banks are working with people more, unless they just quit paying period theres always a chance that the banks are loosing so much that its better to work with the client than to take a 100.000 dollar boat, repo it in the winter sale it for 25.000 and lose 75.000. atleast thats what im thinking.

That's the one...

Banks not taking risk is a good thing? Really? How many on here actually invest? Do you assume risk? Yes, because you want to grow your money faster than inflation. If money isn't changing hands, then the crazy liberals will be looking at our pockets for a higher percentage. To keep them away, we need transactions! Sure, Repo's look bad on the outside. Does you tax guy write off investment losses? It's all about balance and a economy that isn't afraid of risk, will grow capital.

The place that I do my banking at always has 3-4 repoed cars on the lot each month. Give it a few more months...