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paying for a new mc?

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  • paying for a new mc?

    Was shopping with the wife today and needed a break so i went to our local dealer across the street from the mall, a much needed break. I just bought a second hand 06 x1 last year and love it. Only 300 hours and i plan to have it for many years to come. i was floored with the prices on the new x series models at the dealership today! i must make way less money than most folks or ive literally missed the boat somehow. I hope this isnt too forward of me to ask, but how are regular working people able to afford a new mc? does mc offer a low financing rate or is it only the rich buying new? ive taken into account that these are canadian prices, but im not sure that i could even qualify to buy a new one.

  • #2
    My guess. 30 year loans. You can get a mortgage on a new boat over 100k. Love my 04!

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    • #3
      Are you kidding? that must be a US thing, i dont think a canadian bank would do that, but who knows? Monthly payments on the new x series boats must be huge

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      • #4
        No doubt MasterCraft is marketing their boats to the financially elite... Even a bottom of the line Prostar 190 is out of the price range of the middle class.... These new boats are loaded with so much unnecessary crap it's almost comical.... I have made some awesome deals on several used MasterCrafts....
        Ted W

        Hook Em' Horns

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        • #5
          Originally posted by kalamalka View Post
          Are you kidding? that must be a US thing, i dont think a canadian bank would do that, but who knows? Monthly payments on the new x series boats must be huge
          We like to spend way out of our means down here. Afterall, when things don't work out we just ask for bailouts and make our great grandkids pay for our irresponsibility. U-S-A... U-S-A!!

          Seriously though, the guy with the median income of roughly 44k can't afford these boats. Thank god for the used market.
          -Mike

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          • #6
            What dealership were you in Kalamalka?

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            • #7
              As stated before, 10-20 year loans on boats are out there.... When I was selling cars back in the day and before the recession (Pre 2005), we were putting people in cars with $950 payments for 6 years. Whiskey Tango Foxtrot.... I took the commissions and went on my merry way...
              If it's a penny for your thoughts & you give me your two cents, what happens to the other penny? Taxes, the democrats tax everything!!

              1990 Maristar 210... Sold

              In the market though...

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              • #8
                You can get them on 15-20 year loans now. With 10%-20% down, it's only $500 or $600 a month for a $100k boat.

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                • #9
                  Originally posted by Nick911 View Post
                  What dealership were you in Kalamalka?
                  He must have been at Rayburns I am guessing
                  I live in my own little world. But it's OK - They know me here

                  MONKEY FACE
                  sigpic

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                  • #10
                    Originally posted by JRW160 View Post
                    You can get them on 15-20 year loans now. With 10%-20% down, it's only $500 or $600 a month for a $100k boat.
                    Even after 10 years that poor sucker on a 20 year loan is still probably 15k or more upside down...
                    -Mike

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                    • #11
                      Originally posted by mzimme View Post
                      Even after 10 years that poor sucker on a 20 year loan is still probably 15k or more upside down...
                      The people who get new ones every couple of years probably don't care. Kind of like they are just renting it rather than actually caring about paying down the loan.

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                      • #12
                        Originally posted by JRW160 View Post
                        The people who get new ones every couple of years probably don't care. Kind of like they are just renting it rather than actually caring about paying down the loan.
                        What if they pay cash?
                        www.nwboatsports.com
                        https://www.facebook.com/pages/NW-Bo...27792007306783

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                        • #13
                          Originally posted by sand2snow22 View Post
                          What if they pay cash?
                          Then they are awesome. For most people, paying cash is not an option on a $100k boat. The original question was how are regular working people able to afford a new mastercraft. I don't think paying cash is the most common method of payment.

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                          • #14
                            It's all what you make a priority in your life. Me and my wife do not have kids and focus on boating, vacation and saving for retirement. I'm sure it's different for everyone. There are people that pay cash, others make monthly payments and pay it off early, and those that get upside down. In the end it's all what people make important in their lives. That's my take.

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                            • #15
                              Originally posted by Jonb1822 View Post
                              It's all what you make a priority in your life. Me and my wife do not have kids and focus on boating, vacation and saving for retirement. I'm sure it's different for everyone. There are people that pay cash, others make monthly payments and pay it off early, and those that get upside down. In the end it's all what people make important in their lives. That's my take.
                              I agree with priorities. As long as you're within your means and the payment works and makes sense, there's really no issue there. At 100k+, I hope you like your boat though... that's a pretty large investment for most of the population. Those that have the ability to set aside 5-1200 bucks a month for a boat payment are definitely not the majority of the American public. I hope that someday I'm in that range of badassness.

                              Keep the liberals out of the office and senate and house, and it'll be easier
                              -Mike

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