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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12385376
08/14/17 02:28 PM
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Joined: Aug 2009
Posts: 933
Beast From The East
Pro Angler
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Pro Angler
Joined: Aug 2009
Posts: 933 |
They better hurry up and come out with something. It sure would scare me from buying a legend right now.
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12385412
08/14/17 03:04 PM
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Joined: Jan 2008
Posts: 742
CHUNK-N-WINDING
Pro Angler
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Pro Angler
Joined: Jan 2008
Posts: 742 |
I don't know what will happen in this case, but I have some guide buddies that were with Skeeter before they came out with the pre-packaged boats and they had to take a big hit because the Skeeters that were packaged were selling new for less than their Team Deal they had + the adds they put on them. I bought a 2013 21I with 17 hours on it for 50k in 2014 and the previous owner left his sales invoice in the document bag and he paid 78k for it. That equates to $1647 an hour he paid to own it for a year.
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Re: Johnny Morris buys Legend?
[Re: Chris G]
#12385625
08/14/17 06:00 PM
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Joined: Aug 2009
Posts: 444
Stew
Angler
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Angler
Joined: Aug 2009
Posts: 444 |
A house appreciates in value good loan, a vehicle is a necessity. A boat is a luxury that loses 25% of it value the day you pull it off the lot. A 72 month to 120 month loan on a boat or a car is an absolute lose an thousands of dollars. If one wants to just keep their head above water and never get ahead then finance away.
I don't think that JM will kill Legend boats. At least for a while.
used Legends boats always take a minimum of about 1 to 1.5 yrs to sell. Now it will take over 2 years.
I just love how ignorant the TFF can be at times. Both of these comments prove it. I have worked my arse off and have been pretty blessed in life over the last 20 years which has afforded me the ability to do pretty much whatever I want. When I bought my first Legend in 2012, it was an 11 month old Alpha 199 that I paid $41,000 and yes I financed it for 5 years. I paid extra on every month's payment then decided it was finally time to upgrade to the V20 this past March. After my V20 was rigged up and I picked it up, Billy Sartin listed my 199. It sold in 10 days for $38,000. So I had the boat for 4+ years and used it on 75% of the weekends and sold it for $3K less than what I bought it for. Yes, I added a power pole and new 9" graphs but you can see the Legends hold their value. Right now the biggest issue Legend has is being able to keep up with their backlog of boats being ordered. I also think some more info on the sale will come out over time and people will realize it's not exactly what it appears to be. You convinced me that it doesn't have to take a minimum of a year to sell a Legend, But I was lost on where you disproved the financing comment. Please clarify.
Kenny Stewart
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Re: Johnny Morris buys Legend?
[Re: Stew]
#12385687
08/14/17 06:52 PM
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Joined: Nov 2008
Posts: 2,985
Chris G
Extreme Angler
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Extreme Angler
Joined: Nov 2008
Posts: 2,985 |
You convinced me that it doesn't have to take a minimum of a year to sell a Legend, But I was lost on where you disproved the financing comment. Please clarify.
Your posts made it out like financing anything is horrible. My point is if you do it within your means it's a great tool for life and business. I deal with a ton of very wealthy business owners and just about all of them have lines of credit and finance things. I could have paid cash for the boat but chose to use those resources other places. I could have also paid cash for the V20 I just bought but again chose to finance over 5 years and pay extra every month. I did take the $20K in equity I had in the old boat and applied it to this one.
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Re: Johnny Morris buys Legend?
[Re: Chris G]
#12385719
08/14/17 07:13 PM
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Joined: Jul 2008
Posts: 544
Bassfisher6704
Pro Angler
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Pro Angler
Joined: Jul 2008
Posts: 544 |
I agree with you Chris. There is nothing wrong with financing a boat. If you get a good interest rate and can pay some extra every month it make sense. I dont understand some of the peoples comments on here. It sounds like if you cant afford to pay cash for a newer boat you shouldnt have one? I do not think that its anyone's business how people acquire their boats, loans, ect. I have been a public servant my whole career and there is no way possible that I could afford to pay cash for a newer boat, but does that mean I dont deserve to fish out of a nice boat because I have to finance it. Not everyone makes money like that and some of us do our jobs because we care about the community or the people that we serve. I say to each his own and if people want to finance them for however long its not anyone's business but theirs.
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12385759
08/14/17 07:53 PM
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Joined: Oct 2004
Posts: 1,812
David Rush
Extreme Angler
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Extreme Angler
Joined: Oct 2004
Posts: 1,812 |
My Alpha 211 sold quick and at a good price. So, quick I was boatless two long months before I picked up my v20. They are quality boats and should sell just fine as long as fuel doesn't get ridiculous. I don't know what will happen, but I hope things stay the same. I never considered another brand and will not as long as they're around and close to the product they have been.
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Re: Johnny Morris buys Legend?
[Re: Chris G]
#12385778
08/14/17 08:05 PM
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Joined: May 2014
Posts: 7,737
GIG'EM AGGIES
TFF Celebrity
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TFF Celebrity
Joined: May 2014
Posts: 7,737 |
You convinced me that it doesn't have to take a minimum of a year to sell a Legend, But I was lost on where you disproved the financing comment. Please clarify.
Your posts made it out like financing anything is horrible. My point is if you do it within your means it's a great tool for life and business. I deal with a ton of very wealthy business owners and just about all of them have lines of credit and finance things. I could have paid cash for the boat but chose to use those resources other places. I could have also paid cash for the V20 I just bought but again chose to finance over 5 years and pay extra every month. I did take the $20K in equity I had in the old boat and applied it to this one. I don't mind the financing as much as I do the $95,000 price tag. I just don't see the point. I'll keep fishing out of my Skeeter that is paid for until somebody steals it or it sinks but all those who have the need or want one and can afford it I'll applaud and wink when you go by.
I am a Senager. (Senior teenager) I have everything that I wanted as a teenager, only 50 years later. I get an allowance every month. I have PU truck and a bass boat, I am blessed. Conscience never acquits, it either accuses or excuses.
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Re: Johnny Morris buys Legend?
[Re: GIG'EM AGGIES]
#12385877
08/14/17 09:44 PM
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Joined: Nov 2008
Posts: 2,985
Chris G
Extreme Angler
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Extreme Angler
Joined: Nov 2008
Posts: 2,985 |
I don't mind the financing as much as I do the $95,000 price tag. I just don't see the point. I'll keep fishing out of my Skeeter that is paid for until somebody steals it or it sinks but all those who have the need or want one and can afford it I'll applaud and wink when you go by. I fully understand that. The reality is there is a big market out there for people willing and capable of spending $70K-$95K on a bass boat. The funny thing that its really not the boats and motors that have gone up in price. It's that a lot of the higher end boats now have 2 Power poles that are $1500-$2000 each, 2-3 Graphs that can be $3-$5k each, high tech trolling motors that can be as much as $2500, etc, etc. Just the add-ons I listed there add up to an additional $12,000 on the conservative side. So the $60,000 boat from 7-8 years ago is now easily approaching $80,000. Just like anything in life, do what you can within your means and don't look in the rear view mirror or care about what anyone else thinks of it. I will most likely keep this new V20 for at least 5 years because its all i could ever want in a boat and more. And I think this new partnership with White River is going to be a very good thing for Legend boats long term as well.
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Re: Johnny Morris buys Legend?
[Re: Sinkey]
#12385937
08/14/17 10:43 PM
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Joined: May 2010
Posts: 4,582
lamoon78
TFF Team Angler
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TFF Team Angler
Joined: May 2010
Posts: 4,582 |
Yea right. Phoenix is actually selling boats! Yea right. Phoenix is actually selling boats! They won't be going anywhere
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12385953
08/14/17 10:59 PM
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Joined: Jun 2003
Posts: 31,283
HasBen
TFF Guru
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TFF Guru
Joined: Jun 2003
Posts: 31,283 |
I don't think any boat builder is safe when there is someone out there in the acquisition mode and has a very large bankroll. Phoenix and others are not for sale only because the offers are not high enough. Every business has a price. I don't understand the acquisition strategy right now, but JM is obviously much smarter than me. I hope he knows what he is doing.
"Nothing spoils a good story like the arrival of an eyewitness."-Mark Twain
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12385970
08/14/17 11:17 PM
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Joined: Jul 2014
Posts: 22
Texoma Striper Company
Outdoorsman
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Outdoorsman
Joined: Jul 2014
Posts: 22 |
Never ever ever ever ever pay cash for anything that has a diminishing value.Car ,Boat,RV Horse,wife anything that decreases in value.
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Re: Johnny Morris buys Legend?
[Re: Chris G]
#12385980
08/14/17 11:27 PM
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Joined: Aug 2009
Posts: 444
Stew
Angler
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Angler
Joined: Aug 2009
Posts: 444 |
You convinced me that it doesn't have to take a minimum of a year to sell a Legend, But I was lost on where you disproved the financing comment. Please clarify.
Your posts made it out like financing anything is horrible. My point is if you do it within your means it's a great tool for life and business. I deal with a ton of very wealthy business owners and just about all of them have lines of credit and finance things. I could have paid cash for the boat but chose to use those resources other places. I could have also paid cash for the V20 I just bought but again chose to finance over 5 years and pay extra every month. I did take the $20K in equity I had in the old boat and applied it to this one. I didn't post the financing comment. I've got nothing against debt, Buying a boat is not a smart financial decision whether you pay cash or take out a note. I just think it is a little harsh to call a man ignorant cause he advises not to buy a boat with debt. That is actually sound financial advice, but you don't fish and buy a boat for fiscally responsible reasons
Kenny Stewart
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Re: Johnny Morris buys Legend?
[Re: HasBen]
#12385984
08/14/17 11:30 PM
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Joined: Jan 2007
Posts: 14,647
Happykamper
TFF Guru
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TFF Guru
Joined: Jan 2007
Posts: 14,647 |
I hope Legend stays around, i think they are fine boats, I just don't think JM bought them to continue making them, i think he bought them for the facility, what does legend sell a year ? 175-200 boats, seems like they would be a draw against his other lines, who knows, its all about the money.
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12386714
08/15/17 02:58 PM
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Joined: May 2011
Posts: 1,063
R.J.E.
Extreme Angler
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Extreme Angler
Joined: May 2011
Posts: 1,063 |
I didn't know about Stratos being dropped, I've had four in a row and have been very happy with them, guess I'll just hang on to the one I got.
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12386744
08/15/17 03:17 PM
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Joined: May 2009
Posts: 4,170
snickers
TFF Team Angler
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TFF Team Angler
Joined: May 2009
Posts: 4,170 |
It all boils down to one thing. Money. Some will win some will lose it all comes down to money. I would be nervous as all get out if I had my money invested in one . I sure would not run out and buy one but that's just me . I would wait and see what shakes out and I still wouldn't buy one.
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