Financing powersports - high interest rates 😭

Well I pulled the trigger on the ski that was pictured. $17k OTD. I picked up a used trailer that still looked brand new for $900 last week. Dealer wanted like $1700. Actually one wanted like $2500 for one. That same dealer was over $20k 🙄 i think the secret is getting out of the big city I guess to find a good deal. Probably too many property taxes and other stuff to cover the overhead in town. Only an 1.5hr drive. Not bad! 🤠
 
The motor guy said:
Well I pulled the trigger on the ski that was pictured. $17k OTD. I picked up a used trailer that still looked brand new for $900 last week. Dealer wanted like $1700. Actually one wanted like $2500 for one. That same dealer was over $20k 🙄 i think the secret is getting out of the big city I guess to find a good deal. Probably too many property taxes and other stuff to cover the overhead in town. Only an 1.5hr drive. Not bad! 🤠
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Yee Haw partner, post some pics. How that financing go?
 
A jet ski is a toy, not a serious purchase like a car, a house or a 3/4 diesel pickup to be used in your business.
Loans are priced accordingly. This also reflects that this toy is not a very liquid asset and not as readily valued as collateral as would be a house, a car or a pickup.
 
We're Metals said:
Yee Haw partner, post some pics. How that financing go?
Click to expand...
Terrible lol I just did a personal loan for 48 months at 8.99% probably could have done a secure loan on my truck, but i cant find the title now. It's all good. Im just going to pay it off in a year. That's what I usually do and I just kind of factor in $1k worth of interest into the cost
 
There she is

20250917_143204.webp
 
The motor guy said:
Terrible lol I just did a personal loan for 48 months at 8.99% probably could have done a secure loan on my truck, but i cant find the title now. It's all good. Im just going to pay it off in a year. That's what I usually do and I just kind of factor in $1k worth of interest into the cost
Click to expand...
Sweet Ski! Money well spent if it brings you joy. Sure looks like it should.
 
Power Sports is a young man’s game where “ upmanship” is common. I’ll bet there are buyers that NEVER pay off the loan and instead buy faster units than their buddies, rolling the existing loan into the new loan. The other thing is their eyes glaze over in the finance managers office and they stare at the new unit in the show room while the manager says blah blah blah. All good for the dealer. :D
 
Snagglefoot said:
Power Sports is a young man’s game where “ upmanship” is common. I’ll bet there are buyers that NEVER pay off the loan and instead buy faster units than their buddies, rolling the existing loan into the new loan. The other thing is their eyes glaze over in the finance managers office and they stare at the new unit in the show room while the manager says blah blah blah. All good for the dealer. :D
Click to expand...
I think most of the guys I see there aren't too stretched for cash, it was either retired guys with a newer $60k pickup, or a working guy with his business name on his $90k pickup...
I've only known one guy at work that just compulsively trades in and leases new "better" stuff with an ever increasing payment, and it seems the rest of us live mostly within our means...

I was at our local dealer and the almost the only new items that were less than my Outback was new, were ATV's, some trailers, and the dirt bikes! Lots of $30-40k side by sides, and $30k was a nice smaller aluminum fishing boat setup...
I don't really understand how a 175hp outboard motor goes for about the same as a 175hp new car? But I guess its the manufacturers "luxury" tax? No one poor within 500 miles of my place needs a motor like that, so I guess the manufacturers and dealers just price to what the market will bear. We bought our $9 dirt bike tubes and some $32 goggles and went home to look in the couch cushions, see if we misplaced $40k...
 
Snagglefoot said:
Power Sports is a young man’s game where “ upmanship” is common. I’ll bet there are buyers that NEVER pay off the loan and instead buy faster units than their buddies, rolling the existing loan into the new loan. The other thing is their eyes glaze over in the finance managers office and they stare at the new unit in the show room while the manager says blah blah blah. All good for the dealer. :D
Click to expand...
Sounds like you just described snowmobiling …
😵‍💫
 
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