I guess I will be the odd man out here but have you guys seen the used market lately? I am not saying the OP should jump on the particular sxs he is looking at but the days of getting a good deal on a used sxs,truck,boat,rv etc. I believe are in our rear view mirror, At least in my area. I disagree with the used market pricing going down. If it does it won’t be very significant because someone isn’t going to lose 5k on a machine just to get out from under the payment. In my area some used rigs are more than new, before you factor in taxes etc.
Before I decided to get the 1000-6 I looked in to a couple of used 1000-5 units and not one of them were willing to go more than $1k below their listed price. Reason being with everyone was they were upside down on the units and would rather just keep it and pay the monthly payments than lose thousands of dollars by selling at a significant loss. One guy said I would rather the bank take it back than pay 3k out of pocket to settle the loan. Again in my area of SW FL prices on every thing are still very high and show no trend in slowing. Even the housing market here is full steam ahead and not slowing down. Maybe it’s a different scenario in other parts of the country but that’s what I’m seeing here.
I’m seeing the same thing in the high end 1911 market. These are toys or luxuries just like a sxs and guys are wanting to sell a used Nighthawk or Alchemy for $5k or $6k because they bought them used for that price when the market was high. Now the market has cooled and they are trying to recoup that money but aren’t having much luck because you can buy a new one for around the same money. Difference with this is these guys didn’t take out high interest loans to buy the 1911‘s so they are willing to take a hit to get some money back. If you have a loan that you will have to pay the difference on if you sell below what you owe a lot of people are just gonna sit on them because They won’t or can’t take the hit.
Sky Powersports is a powersports dealership located in Cocoa, FL. Offering multiple kind of services, near Port St. John, Rockledge, Cabo Cañaveral, and Cocoa Beach.
www.skypowersportscocoa.com
Here is a used rig from a dealer I have been talking with. Was quoted from this dealer $23k for a new 1000-5 compared to this used one for $21k with over 1000 miles why would you go with the used option for that price difference? Yes there are some add ons for the used rig but not worth the sales price and they weren’t willing to come off their price. This again is just what I am seeing in my area.