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Why Aren't Millennials Buying Boats?

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    #31
    I know why...

    They can’t afford them

    With having to buy a new Iphone for each member of your family for $800 each per year.

    With even simple things costing, through choices... Example I went to the store today to buy bar soap. Found 10 bars of Ivory for $6.79 or $0.68 each. Looked right above the bars and there was a little bottle of foaming shower soap for $3.99. Probably the whole little bottle lasts half as long as one of my bars of ivory.

    Laugh you may, but it’s little choices that make it so you do not have any money left over at the end of the month.

    My son has two car payments that roughly equal my 4788 payment. I drive a perfectly good, paid for 2003 pickup truck. Maybe when the boat is paid for I’ll buy a new truck, but probably not. The old one looks and runs great.

    I just had the cracked screen on my iphone 6 fixed for $79. My son laughed at me for having such an outdated phone, a whole two years old. He said I should toss it and but a new $800 Iphone whatever.

    Yep, there are reasons menials are not buying boats like my generation did. They spend too much on other things so they are broke at the end of the month.

    KEVIN SANDERS
    4788 LISAS WAY - SEWARD ALASKA

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      #32
      Originally posted by boatworkfl View Post

      If you keep the vehicle for a long time it pays to buy new, my 1995 F150 had 240,000 mils on it and used less than 1 QT of oil between changes.
      My 2011 F150 with the 5.0 has 110,000 and does not use enough oil to worry about adding oil, exception my trip from Florida to Alaska towing a cargo trailer, I use 2/3 qt. of oil each way.
      Not a chance that's true - you still eat a huge depreciation hit for the 1st three years. Buy them three to five years old with reasonable miles and then keep them forever. Or don't, but those first 3 years are costing you dearly.
      R.J.(Bob) Evans
      Buchanan, SK
      Cierra 2755
      Previously 43 Defever, Response LX
      Various runabouts, canoes & kayaks

      Comment


        #33
        Bob, you are correct about the depreciation. Yes the insurance companies offer coverage if something happens in that time period to cover that depreciation gap, but, there's always a but, only if you have the vehicle financed and only to pay off the loan. So, if you pay cash or make a large down payment or trade in value, that coverage isn't offered. At least in Washington State by insurers I've talked with.
        I have been buying new for nearly thirty years primarily because I had a run of bad experiences with used, even slightly used. Worse, they were for the admiral and any malfunction was my fault and the car was a pos. Yes, her '88 Olds Delta 88 was.
        I have an 02 Explorer with 190k on it, burns no oil, is comfortable and meets my needs. I look at the newer stuff and haven't seen anything I even think I want.
        Boats are worst. Been there done that one. Since then I've bought well surveyed used and been much happier.
        I see the expectations of employers and the concept of a 40 hour week, even as a baseline, is lost on them. None of the four kids have the "off duty" time to be able to use, let alone maintain, a boat.
        P/C Pete
        Edmonds Yacht Club (Commodore 1993)
        1988 3818 "GLAUBEN”
        Hino EH700 175 Onan MDKD Genset
        1980 Encounter Sunbridge "Misty Blue" (Sold)
        MMSI 367770440
        1972 Chevrolet Nova Frame off Resto-mod in the garage
        Boating on the Salish Sea since 1948

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          #34
          Originally posted by bobofthenorth View Post

          Not a chance that's true - you still eat a huge depreciation hit for the 1st three years. Buy them three to five years old with reasonable miles and then keep them forever. Or don't, but those first 3 years are costing you dearly.
          Yep! There are very few vehicles that are worth even half their original value when 4-5 years old. Sadly, my 2007 Mercedes 230 with only 44K original miles is only worth around 7K!
          Jim Gandee
          1989 3888
          Hino 175's
          Fire Escape
          Fyrflyer@ca.rr.com

          Comment


            #35
            20-30 somethings,at least in my area, aren’t interested in a 40’ boat that goes 10 kts. They all want the 40’ er with twin blown engines that does 80 mph down Lake Havasu, of which there appears no shortage!
            Jim Gandee
            1989 3888
            Hino 175's
            Fire Escape
            Fyrflyer@ca.rr.com

            Comment


              #36
              Millennials are not as interested in boating compared to the older generations. They live in a much different world. Much of their alternative life is spent in the digital world, the world of social media.
              It's all a dream
              '03 245 5.7/BIII & '06 175

              Comment


                #37
                Originally posted by boatworkfl View Post
                Figure the cost of owning a modest home VS a small yacht.
                The home will increase in value and the yacht will lose value!
                BINGO!! . . . . and we have a winner! That's the reason I hear almost all the time . . I know the Admiral thinks the same. . .
                1998 Avanti 3685 - "Dad's Dream" w 454 Mercs - just a rockin' an'a rollin'
                Former - "Home Aweigh" 2003 - 2452 Bayliner Cierra Classic Hardtop Cruiser
                WQQM835 MMSI: 338147209
                James H. Stradling

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                  #38
                  they don't even get excited about cars, let alone boats!
                  88 Four Winns 200 Horizon 4.3 OMC
                  98 Jeep Grand Cherokee 4.0/Selectrac
                  07 Jeep Grand Cherokee 5.7 Hemi/Quadradrive II

                  Long Island Sound Region

                  Comment


                    #39
                    All of the above posts are correct. Lets face it 18-30 year olds are not in a financial position to purchase anything but the Basic's. Student loan debt, apartment rent and car loans eat up most of their income. Our Daughter and Son In Law, who are in their 20's are saving up for a down payment on a home. Both work have decent jobs, but paying on a new car, $1100 monthly rent and of course our grandson eats everything up fairly quick. This past week while shopping for and signing paperwork for my NEW boat at Bass Pro Shops., most of the people" In My Opinion" looking at NEW boats where in their 30's and 40's with a couple of kid's. The boats they were looking at were Fish/Ski boats. Boats that are good for only one thing do not sell. Here is a picture and price of my New Boat I'll be picking up Thursday, this is the type of boat 30-40 year olds are looking at.

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                    • Don9
                      Don9 commented
                      Editing a comment
                      Nice boat Dave!
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