Thoughts on Buying Right Now With High Gas Prices + Possible Recession?

[GreenWave]

My advice is somewhat redundant to FEW OTHERS however,
1) I agree that boat prices have peaked (both sail and especially Motor)
2) If the US gets into a recession or more dire economic circumstances then the choices will INCREASE and the prices will go down.
3) I don't believe in buying small and then upsizing later unless later is like 20+ years. You never make money selling a boat so get what you want now.

[NPCampbell]

Gas prices go up and down. I have made a small nest egg from buying oil stocks every time it dips. I wouldn't base my decision to buy off of short term gas prices ... especially if you are buying a sailboat.

With regards to a potential recession, if I was at retirement age already then I wouldn't hold off due to the reasons Kysloc mentioned. Personally, I am looking for 1-2 acres of lake front property and I am holding off to see if I can save 30%+ from the overheated high prices that we have had for 1.5 years. I think we are on a bubble and I'd like to be able to jump in and take advantage of it when/if it bursts.

[mako]

For a further indication look at what’s happening in Elkhart Indiana. The RV market is getting hit hard now, and the boating market will be alongside it

[Rumrace]

I power boated for 5 decades and switched to sailing. Really enjoying ourselves. The lust for power drove me to building one more wrecked 1986 18. Bought a LS3 crate at a Bankrupt GM dealer auction rebuilt the hull stringers and motor mounts to fit it.
Still no engine hatch but we’ve had it on a test run from Toronto to Niagara on the lake about 38 n. Nice cruise speed 40kn but I pushed it past 60kn in some easy water.
Not too many 18’ boats can make the trip. I consumed 28 gallons of high octane 102.
I think power boats are about to get extremely exciting but the old ones are a riot

Hydrogen

[Rumrace]

Oh it’s a Donzi Spell check deleted it. Eats Rivas for breakfast ��

[N Coast Murray]

Originally Posted by Lake-Effect

Go small, go cheap, go now. Even if you aspire to a bigger more plush boat later.

Re the OP:

We aren't in the motor yacht tax bracket, and even before the current high prices, I had a hard time imagining what it's like forking out over a grand for fuel for a weekend on the water. But if you can, it would be a nice way to ride out the recession.

First point is a good one, but the second one is wrong in our case.

We bought an affordable 30' diesel trawler and think of fuel prices as the ticket price to The Big Show.

We recently went on a 2 week road holiday in our Honda Element pulling a 5x8 cargo trailer tricked out to stealth camp in. Gas prices (Canada) were high and we spent $1,300.00 during the trip.

We recently filled the diesel tanks on our boat and it was the first time it went over $1,000.00 because prices here have spiked.

Thing is, that $1,000.00 of diesel will easily last 3 weeks the way we boat on BC's north coast. A few summers ago we went from Kitimat to Pruth Bay on Calvert Island, stayed there a week, then went back up to Shearwater before fueling up again. Estimated range is 450 miles at 1.5 gallons per hour at an average of 7 knots.

So, in our case, boating holidays are cheaper than road trip holidays as far as fuel costs go.

Point being, it all depends on the boat, tankage, how many days you spend in anchorages and how far between those anchorages are. We're lucky in that there are so many interesting places to anchor packed really close together...and the view out the window is the same wether aboard a multimillion dollar gas guzzler mega yacht or a small, scrappy, diesel sipping trawler.

[Rumrace]

Gas is bound to go down right. Always does right. Staring at gas station sign waiting for change will make you old.
Hydrogen and Electric are catching up fast.
My onan sips fuel and the motor doesn’t consume 80G a year.
Don’t hesitate dive right in. Start to build your boat equity. You’ll be more successful in life work marriage because you’ll get to hang out with us high caliber people like us.
All complaining about polishing old fuel.

[BuoyCall]

Originally Posted by HSV Sailing

What are everyone's thoughts on buying a motor yacht in the current market, with the high diesel prices?

We've been seeing drastically more "Price Reduction" emails and listings on YachtWorld over the past 2-3 months.

Is anyone about to buy? or decided to wait?

What goes up will come down. We would just alter our budget to accomodate the higher gas cost by anchoring out a bit more and cut dwn in eating out. Small price to pay to live our dream... cant buy time but i can cut here and there to buy fuel. Its all relative.

[BuoyCall]

Originally Posted by mako

For a further indication look at what’s happening in Elkhart Indiana. The RV market is getting hit hard now, and the boating market will be alongside it

Then it will be our time to buy. Cant wait

[Rumrace]

Well the bank of Canada increased interest rates dramatically. So if you are a young person in Toronto or Vancouver where houses start at 1M you mortgage interest will cost 3-400$ a month so there goes your disposable income to spend on gas diesel water balloons and paper beer cups.
The banks are boom town. Billion more a day.
Good thing I’m an old fart and am convinced most of my grandchildren will behave more responsible.
I don’t understand how increasing the banks income helps our economy or the price on beans.
Go get your boat. Buy what you can afford. Do you the world of good.