Boat manufacturer/sales woes

S

Sneaks

New member
I read an interesting article about the tanking RV industry and some of their conclusions can be applied directly to the boating industry woes.

1) It's not about gas prices, it's about financing!

2) A large number of RV owners use home equity loans to finance their rig and that method of financing has dried up completely. I assume it's a similar situation in the boating industry.

I can see how buyers and banks would be reluctant to finance boats and RV's. Personally I hope that three years from now we'll have forgotten all about this nasty episode in the US economy. :sad

Don
 
With our recent RV shopping, we saw dealers advertising 120 month financing... 10 years on a depreciating asset. Yeah, I can see how there'd be some reluctance. That article predicts that things are not going to improve in that industry until 2010. RV manufacturers are dropping like boat manufacturers.

A friend of ours owns a motorcycle dealership - he says the tight financing has hurt them, even though many people are looking at 2 wheels to deal with fuel prices.

If a person is thinking about a boat purchase (or RV, truck, etc)... this is a good time for the buyer. Especially if you don't have to deal with financing.
 
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