Boats Become Affordable in Buyer's Market
What's true of real estate in 2009 is also true of the boating world: It's a buyer's market. So if you've always wanted to hit the open water but didn't think you could afford it, now may be the right time to reconsider.
Prices on new boats dropped steeply in the past year as used boats flooded the market, so start your search at a boat show or local dealer, where you can find surprisingly good deals on new models. For instance, Chaparral Boats, a subsidiary of Marine Products (MPX), is running a "Wow Now" sales event with cash rebates and free extended engine warranties. Marine retailers like MarineMax (HZO) can help you choose and finance the right boat. By cruising shows and dealers, you can get a firsthand look at different models and ask questions about them.
If the price on a new boat is too steep, look around for a second-hand version. Dealers often sell used boats, too. They may charge a premium, but it might be worth it if they have a repair shop that will provide servicing before your purchase. Moreover, dealers often sell used boats with active warranties.
You'll likely find the cheapest prices on boats through online classifieds or in listings at the back of boating publications. Also consider checking out auctions on boats that have been repossessed. All the recent economic troubles have left boat repossession companies very busy, which could lead to a great deal for you.Before you buy: Don't rush into a purchase until you've taken a few steps to make sure the boat is in an acceptable condition.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV