Current Rates

[BlkGS]

Smells like they want to push through all of their 19' models left over and for the 2024.

Rates are around 6.5% give or take to 8.99% depending on term and decent to excellent credit. Depends on many factors.

Boggles my mind people are buying a thing that isn't am absolute need with interest rates this high.

 

[Adrian @ JB Solutions]

Boggles my mind people are buying a thing that isn't am absolute need with interest rates this high.

6.5% isn't high. It's normal. We have been spoiled for several years. Prices of goods are high and not normal (partially due to really low rates)

 

[BlkGS]

6.5% isn't high. It's normal. We have been spoiled for several years. Prices of goods are high and not normal (partially due to really low rates)

6.5% feels high for a manufacturer rate. It feels more like a rate you'd get from the bank that isn't trying to sell you a boat/car/whatever. Manufacturer rates should be lower since they're an incentive to get you to buy their product.

I was looking at trucks, some mid 00s but mostly 18-20ish trucks... Seeing rates like 8-9%. I have awesome credit. I'm not paying that much. I don't NEED a new truck, so I'm damn sure not going to pay an inflated price and high interest rates.

Personally, I think that the low interest rates made up for prices going nuts for stuff for the past like 10 years. I think the fundamentals of our economy have never really recovered from mismanagement a decade ago, and we've been skating by on cheap money ever since.

 

[Adrian @ JB Solutions]

6.5% feels high for a manufacturer rate. It feels more like a rate you'd get from the bank that isn't trying to sell you a boat/car/whatever. Manufacturer rates should be lower since they're an incentive to get you to buy their product.

I was looking at trucks, some mid 00s but mostly 18-20ish trucks... Seeing rates like 8-9%. I have awesome credit. I'm not paying that much. I don't NEED a new truck, so I'm damn sure not going to pay an inflated price and high interest rates.

Personally, I think that the low interest rates made up for prices going nuts for stuff for the past like 10 years. I think the fundamentals of our economy have never really recovered from mismanagement a decade ago, and we've been skating by on cheap money ever since.

A local CU here has 6% for used. About 5.5% for new. I have been seeing 0/72 on new trucks again. 0/72 is an absolute steal figuring you can get a HYSA at 5%.

 

[biffdotorg]

As Yamaha has an "Offers" tab on the boat site again. End of Summer sale. 4.99% for 72 months on new boats. That will drive a few off the lot.

 

[BlkGS]

A local CU here has 6% for used. About 5.5% for new. I have been seeing 0/72 on new trucks again. 0/72 is an absolute steal figuring you can get a HYSA at 5%.

0/72 is ram right? I toyed with the idea but then I saw what my ram build worked out to price wise. I'm half tempted for a diesel one, but I think I would want to go with something faster. Really wish they'd offer a 392 ram 1500. Offer it with Laramie night/sport packages as a going away present.

Just tough to justify buying anything as the recession looms. Things keep looking worse for the auto makers, lots of inventory and slowing demand. Honestly I partly think this UAW strike is an attempt to keep prices high.

At the end of the day 0/72 doesn't cut the mustard when these trucks are 20k more MSRP than they were in 2019, and not offering nearly the discounts they were. It's a start, but I can't see paying an inflated MSRP even with 0%.

 

[Adrian @ JB Solutions]

0/72 is ram right? I toyed with the idea but then I saw what my ram build worked out to price wise. I'm half tempted for a diesel one, but I think I would want to go with something faster. Really wish they'd offer a 392 ram 1500. Offer it with Laramie night/sport packages as a going away present.

Just tough to justify buying anything as the recession looms. Things keep looking worse for the auto makers, lots of inventory and slowing demand. Honestly I partly think this UAW strike is an attempt to keep prices high.

At the end of the day 0/72 doesn't cut the mustard when these trucks are 20k more MSRP than they were in 2019, and not offering nearly the discounts they were. It's a start, but I can't see paying an inflated MSRP even with 0%.

I seen a lot of Mopar on the 0/72 - I have a buddy searching for a truck right now. I think they were doing big discounts plus the 0%. The market is sure to go down. Not sure about recession - pretty sure it already happened by the og definition but the govt. just changed the definition of what it is. But in any case I have been hearing "recession" for 2 years now. I think car prices will keep declining, but it still reminds me of the COVID housing collapse that never happened (and doesn't look like it ever will). I know a few people that got screwed because they thought the market would crash. It went up 25% and then interest rates went up 400%. Buy when you find a comfortable deal and ignore the noise.

Also 100% agree on the 392. People have been saying this for YEARS. Well before the DT model came out.

 

[HangOutdoors]

I dunno, I don't just look at interest rate, or payment, etc. If it is something I want, and if it serves a purpose for us and makes sense, we usually go that route. When I bought our boat my rate was high since I did just remodeling, parents medical bills, etc. etc. I refinanced it to a lower rate when I could. I wasn't not going to buy it and wait till rates came down. My end game doesn't revolve around how much money I save or don't spend, it revolves in good part around experience, family, etc. Some get hung up on what they think they should pay or what some fictitious loss is based upon what something was before. The money sorts itself out one way or the other. Lost too many people in this life over the years whom didn't get a chance to enjoy a lot of things, because they were always looking too far down the road.

$50k at 9.99% vs $50k at 4.99% at 180 months is $142.00 per month. Meh, not a big deal. Hell I can eat that out at a meal once a month easy. Kids and admiral probably drink that at Starbucks every couple of weeks. Plus you have the option of paying down at an accelerate rate and refinancing to take advantage of rate adjustments.

I am sure not going out and getting a new $1000++ payment on some big ass boat, but to have a boat if I can afford it, I will take the opportunity cost, so that we can enjoy it. I will be prudent, but not forgoe not having/doing something which may never come.

 

[biffdotorg]

$50k at 9.99% vs $50k at 4.99% at 180 months is $142.00 per month. Meh, not a big deal.

You know I respect your opinions from other threads. But that's over $25,500 over the term of the loan. That tells a person what those few meals out and starbucks are worth over time. (smile)

 

[HangOutdoors]

You know I respect your opinions from other threads. But that's over $25,500 over the term of the loan. That tells a person what those few meals out and starbucks are worth over time. (smile)

Wouldn't keep it for 15 years. Most people don't But if that is the cost for owning the boat, it is what it is. If rates never got super low then 6%,7%,8%, etc. Would be the norm. There wouldn't even be a conversation over 3% or 4%. Which was the case for many decades. It is all point in time. We may never see rates low again. They may be back next year or the year after. Rates go down prices go up. So they are offsetting. If it makes some people feel better that they got 4% on a boat that costs 70k, vs someone who got 6.5% on the same/similiar boat for 50k, what is the point. One way someone is boating, the other person is not.

 

[drober30]

Wouldn't keep it for 15 years. Most people don't But if that is the cost for owning the boat, it is what it is. If rates never got super low then 6%,7%,8%, etc. Would be the norm. There wouldn't even be a conversation over 3% or 4%. Which was the case for many decades. It is all point in time. We may never see rates low again. They may be back next year or the year after. Rates go down prices go up. So they are offsetting. If it makes some people feel better that they got 4% on a boat that costs 70k, vs someone who got 6.5% on the same/similiar boat for 50k, what is the point. One way someone is boating, the other person is not.

Rates and MSRP went way up by the time I could get my hands on the model I wanted... still one of the best purchase I ever made! Wife and I booked a hotel room for three nights close to Lake St Clair to enjoy the awesome weather this upcoming holiday weekend and wrap up our first season of boating. I'm 100% enjoying life when I'm boating!

 

[HangOutdoors]

Rates and MSRP went way up by the time I could get my hands on the model I wanted... still one of the best purchase I ever made! Wife and I booked a hotel room for three nights close to Lake St Clair to enjoy the awesome weather this upcoming holiday weekend and wrap up our first season of boating. I'm 100% enjoying life when I'm boating!

Very cool. I am about 20 mins from Lake St. Clair. Not sure I can get the Admiral in the boat. But maybe.

 

[HangOutdoors]

Rates and MSRP went way up by the time I could get my hands on the model I wanted... still one of the best purchase I ever made! Wife and I booked a hotel room for three nights close to Lake St Clair to enjoy the awesome weather this upcoming holiday weekend and wrap up our first season of boating. I'm 100% enjoying life when I'm boating!

Bring a few fishing rods. Drift near the main channel in the lake or drift with the current in North channel and relax.

Also I am sure you have been out there before, but at the very least have Navionics up on your phone. It can get shallow fast.

 

[drober30]

Bring a few fishing rods. Drift near the main channel in the lake or drift with the current in North channel and relax.

Also I am sure you have been out there before, but at the very least have Navionics up on your phone. It can get shallow fast.

I felt so lost out there my first time out! I do use Navionics on the iPhone, hoping to get a Garmin chartplotter on Black Friday/Cyber Monday for next season, I will enjoy the bigger screen.

I really enjoy the bigger lake and anchoring off with all the beautiful boats!

 

[Beachcampin]

I felt so lost out there my first time out! I do use Navionics on the iPhone, hoping to get a Garmin chartplotter on Black Friday/Cyber Monday for next season, I will enjoy the bigger screen.

I really enjoy the bigger lake and anchoring off with all the beautiful boats!

For what it’s worth, the cheapest way is to get an old refurbished IPad off Amazon and install your navionics there (you do not need a second purchase from Navionics). Just make sure the iPad has is an iPad Air. Then add another ram mount to the dash somewhere. I recently put this on my boat so that I can run my fish finder with a split between side and bottom and have the iPad run navigation.

only down side I’ve had is that the iPad is not as good in direct sun and may shut down if it overheats.

Twin screens on a tiny boat like these definitely makes it feel high tech even if it is redneck engineering.

 

[biffdotorg]

For what it’s worth, the old refurbished IPad off Amazon and install your navionics there (you do not need a second purchase from Navionics). Just make sure the iPad has is an iPad Air.

Actually, Apple changed which models had GPS radio included from year to year. It has nothing to do with being an iPad Air. For a period, any ipad with the cellular chipset, also includes the gps chipset. You didn’t have to activate the cellular radio, but it indicated that the unit also had the GPS chipset.

I have purchased a pair of iPad pro’s with cellular and never enabled that radio, but enjoyed the ability to use the GPS for mapping and navigation. Your best bet is to research he model and year of the unit you want to buy. As most later models include GPS with and without cellular.

 

[jocolo21]

I dunno, I don't just look at interest rate, or payment, etc. If it is something I want, and if it serves a purpose for us and makes sense, we usually go that route. When I bought our boat my rate was high since I did just remodeling, parents medical bills, etc. etc. I refinanced it to a lower rate when I could. I wasn't not going to buy it and wait till rates came down. My end game doesn't revolve around how much money I save or don't spend, it revolves in good part around experience, family, etc. Some get hung up on what they think they should pay or what some fictitious loss is based upon what something was before. The money sorts itself out one way or the other. Lost too many people in this life over the years whom didn't get a chance to enjoy a lot of things, because they were always looking too far down the road.

$50k at 9.99% vs $50k at 4.99% at 180 months is $142.00 per month. Meh, not a big deal. Hell I can eat that out at a meal once a month easy. Kids and admiral probably drink that at Starbucks every couple of weeks. Plus you have the option of paying down at an accelerate rate and refinancing to take advantage of rate adjustments.

I am sure not going out and getting a new $1000++ payment on some big ass boat, but to have a boat if I can afford it, I will take the opportunity cost, so that we can enjoy it. I will be prudent, but not forgoe not having/doing something which may never come.

I dunno, I don't just look at interest rate, or payment, etc. If it is something I want, and if it serves a purpose for us and makes sense, we usually go that route. When I bought our boat my rate was high since I did just remodeling, parents medical bills, etc. etc. I refinanced it to a lower rate when I could. I wasn't not going to buy it and wait till rates came down. My end game doesn't revolve around how much money I save or don't spend, it revolves in good part around experience, family, etc. Some get hung up on what they think they should pay or what some fictitious loss is based upon what something was before. The money sorts itself out one way or the other. Lost too many people in this life over the years whom didn't get a chance to enjoy a lot of things, because they were always looking too far down the road.

$50k at 9.99% vs $50k at 4.99% at 180 months is $142.00 per month. Meh, not a big deal. Hell I can eat that out at a meal once a month easy. Kids and admiral probably drink that at Starbucks every couple of weeks. Plus you have the option of paying down at an accelerate rate and refinancing to take advantage of rate adjustments.

I am sure not going out and getting a new $1000++ payment on some big ass boat, but to have a boat if I can afford it, I will take the opportunity cost, so that we can enjoy it. I will be prudent, but not forgoe not having/doing something which may never come.

Well said brother,