To Trade or Not to Trade

[ranger3]

We're seriously thinking about trading our '04 SV-211 Limited for an '08 220 Team Edition. The 211 was our first CC and has been great. No major complaints and we bought it used last year with 53 hours on it. It now has just under 150.

I knew when I bought the used boat, that I would really like to have a new one that I could truly take care of. It appears that the trade will cost us about 24K or an additional $175 per month. I'm sure lots of you can write a check for your toys, but we can't. This is our primary entertainment and we do not have any kiddos.

Anyway, our 211 has most of the Team options except for PP. We would like and could really use the extra room of a 220. I was quoted a price of 69K for the 220, but they were giving me a little extra for the 211.

Any thoughts? Should we do it or just hang on to the old girl?

[Onevw2go]

RE: To Trade or Not to Trade

I don't know about you, but 175$ a month could equal an extra tank of gas. I'd keep it (the 211) new is not always better. I have had my 210 for 3 full seasons now, and I feel like I am just getting it broken in. plus the best part... No more payments! Now if I could get the House and Car fully paid off. Good luck whatever you decide to do.

[ranger3]

Re: RE: To Trade or Not to Trade

I don't know about you, but 175$ a month could equal an extra tank of gas. I'd keep it (the 211) new is not always better. I have had my 210 for 3 full seasons now, and I feel like I am just getting it broken in. plus the best part... No more payments! Now if I could get the House and Car fully paid off. Good luck whatever you decide to do.

Thats the whole deal.........we still owe a Shi***** on the 211 anyway. I doubt we'll ever pay one off. If the 211 was paid for, I don't think I would even think about trading it. I'm not unhappy with it, but since we're making payments anyway, whats another couple hundred bucks to have a bigger, nicer, NEW boat!

A lot of people in the area I live, don't pay 70K for their house. They would think we were insane to buy a boat for 69K! Thank goodness, I'm not one of those folks, but you know what I mean.

BUt, thats the whole reason for the thread. Would it be worth the $175 a month to have a brand new 220 as opposed to the '04 211.

[MHayes]

RE: Re: RE: To Trade or Not to Trade

Nobody on this board is going to be able to answer your question, it's something that you and your wife are going to have to answer based on your financial position. I'm sure somebody will chime in to tell you how to spend your money though :grin:

Good luck with whatever YOU choose.

[SkiTower]

Nobody on this board is going to be able to answer your question, it's something that you and your wife are going to have to answer based on your financial position. I'm sure somebody will chime in to tell you how to spend your money though

That's right. But one thing to point out...you've lost less on the 211 due to aging because you bought it used. A new boat you're gonna take a big hit up front.

You can't be that far from paying off the 211 (20-40K) but the new 220 will put that dream out of reach.

But in the end it's your finances and your decision.

[ranger3]

Re: RE: Re: RE: To Trade or Not to Trade

Nobody on this board is going to be able to answer your question, it's something that you and your wife are going to have to answer based on your financial position. I'm sure somebody will chime in to tell you how to spend your money though :grin:

Good luck with whatever YOU choose.

You're probably right. A lot of the people who buy these boats (and visit this site), write checks for their boats. We can't do that. But the bank will be glad to make a little interest off of me!

If I get my choice, we'll make the trade. The money is there and we absulutely love boating on the weekends. It is about all we do during the summer. We live within 45 minutes of 5 different lakes. Lake Athens, Lake Tyler, Lake Palestine, Cedar Creek Lake and Richland Chambers.

It is no secret. Nautiques are addicting. I think I've just built up a little tolerance to the ole SV-211. The 220 might just give us a buzz again!

[Nautiqueman]

RE: Re: RE: Re: RE: To Trade or Not to Trade

I will sell you my 2006 220 for $52,000 if you have sold your 211. It is the Team with all options, ZR6 and trailer. See what you can borrow $50K for online or at your bank and make the decision. The 220 is practacally new! I will send you a photo if you like.

I have made decisions on cars like this before, so actually you are not basing your decision on the boat, it is all about financing.

[bkhallpass]

RE: Re: RE: Re: RE: To Trade or Not to Trade

Do you want to be talked into this, or out of this?

a) Financially, this is a dumb decision.

b) for everything else, really up to you.

In my mind's eye, I can't think of anything I could come up with under b which could overcome a. Your mind's eye probably sees it differently. BKH

[J]

RE: Re: RE: Re: RE: To Trade or Not to Trade

when you buy a new boat you'll spend more cash on everything else too......you'l want a new board & bindings......you might want a bimini top, maybe a nice cover, how about a new towable, insurance will cost more, i bet your handle is wearing too, a kick *** stereo would be nice, add another sub, new ballast configuration, maybe starting to think about a new tow rig, you'll use it more so more on gas, maybe add a heater/shower during the off season, new vest, add even another sub & amp, etc....

save your moola....a 04 211 is not an old boat quite yet......

[2gofaster]

RE: Re: RE: Re: RE: To Trade or Not to Trade

<BUt, thats the whole reason for the thread. Would it be worth the $175 a month to have a brand new 220 as opposed to the '04 211.>

This is the question that got a LOT of people into trouble with mortgages in the last few years. It all comes down to whether that $175 overextends you or puts you to where you have to stretch. If you or your wife lost your job or were hurt, would the $175 extra put you in a hole? Is buying a $69k boat and financing a sound fiscal decision? For most of us, no.

[bkhallpass]

RE: Re: RE: Re: RE: To Trade or Not to Trade

In addition to the $175 per month, I would bet the duration of the loan is extended as well. BKH

[SkiTower]

RE: Re: RE: Re: RE: To Trade or Not to Trade

n addition to the $175 per month, I would bet the duration of the loan is extended as well. BKH

Most definitely. You are buying a boat that is probably twice as expensive. $175/month isn't the only change.

And J may have carried the list a little far, but I GUARANTEE you won't just buy the boat.

[bkhallpass]

Re: RE: To Trade or Not to Trade

Thats the whole deal.........we still owe a Shi***** on the 211 anyway. I doubt we'll ever pay one off. If the 211 was paid for, I don't think I would even think about trading it. I'm not unhappy with it, but since we're making payments anyway, whats another couple hundred bucks to have a bigger, nicer, NEW boat!

A lot of people in the area I live, don't pay 70K for their house. They would think we were insane to buy a boat for 69K! Thank goodness, I'm not one of those folks, but you know what I mean.

Not sure how to say this and not offend you. But, with your current economic strategy, I agree, you'll never pay off a boat. On the other hand, if I lived in an area
where I could buy houses for under 70K, particularly given that the market is at a low, I'd be putting my money into houses, which will make me money over the next 10 years, not 70K boats that will be worth half or less over the next 10 years. Do some smart investing, and the next time you actually need a new boat, you will be able to pay cash. BKH

[zapada]

RE: Re: RE: To Trade or Not to Trade

"True Cost of Ownership" is the figure that you really need to look at. What is it going to cost in interest and resale depreciation? You made a smart move by buying a used 211 with only 53 hrs on it. Careful, I wouldn't want to roll a smart decision into a dumb one. $70k 220's are for people with a bucket of money, or your ultra-die-hards. If it helps you, break down the cost of ownership by year, month, even day over a 5 or seven year period and see if that is worth it to you. I think you'll find that the interest and payments are not what hurts, it the depreciation, maintenance, toys & fuel. Take out all the emotions and do the math! Plus, there are good clean used boats out there all the time if what you really want is just something bigger. I've spent a couple of weekends in a 226; I don't care what anyone says, it provided the biggest wake I've ever been able to surf behind. You can find those at a pretty good buy too. I would never discourage anyone from owning a boat (or financing one), but you've got to get a boat that you can afford...not just the payment...the "cost of ownership"

[SNMike]

RE: Re: RE: To Trade or Not to Trade

All the above is very sound advice, not to mention the "new" factor will fade quicker than you think, but the extra jack you have to fork out will be right there in your face and out of your bank account every month for a long time. You don't won't to be upside down in a boat, or anything else for that matter.

Regards to ALL!

Mike