FernieHawk
Active VIP Member
A little over 1 year ago, Sept 2019, I paid $6000 for a M8000 Ltd with approximately 1600 km. If people are paying $12,000 for a 2015 XM, they’ve lost they’re mind.
Sled market predictions
- Thread starter deaner
- Start date
A little over 1 year ago, Sept 2019, I paid $6000 for a M8000 Ltd with approximately 1600 km. If people are paying $12,000 for a 2015 XM, they’ve lost they’re mind.
Rotax_Kid
Active VIP Member
This is the best thing ever. After my wife was beeyotching about how many sleds I own, I sold a few of them and made a nice profit. Now she things snowmobiling is a money making sport, so I'm back in the good books. You should try it...
LUCKY 7
Active VIP Member
I make payments on my new sled only because I started to get CPP a few months ago and I always said I wanted the government to buy me either a new sled or a new truck.
canuck5
Active VIP Member
What goes up must come down. Very unique situation sleds, rv, quads, market is crazy. Combo of government freebies and people not traveling being forced to do stuff in there own backyard have created a very interesting market. Can’t last forever though you have to assume a year from now market could be flooded as soon as world starts to normalize.
pfi572
Active VIP Member
Interesting perspectives on some posts .
Think I will keeping to the low percentages of people , and keep chit paid for or do without .
I hate banks and paying interest no matter how low it is ,especially if it’s personal .
Zero percent is false selling gimmick as well .
Herd is always running in the wrong direction most times .
Think I will keeping to the low percentages of people , and keep chit paid for or do without .
I hate banks and paying interest no matter how low it is ,especially if it’s personal .
Zero percent is false selling gimmick as well .
Herd is always running in the wrong direction most times .
Pedaling pete
Active VIP Member
I think it's going to depend on how many new sleds are being produced. If there is low or no supply of new iron and people still have money to ride, be it borrowed or not. Prices will rise.
Prices of consumer goods are going up me thinks...
Prices of consumer goods are going up me thinks...
Bnorth
Active VIP Member
People don't care about debt anymore. Good for them, doesn't work for me.
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- #28
Bogger
Bogger of the GBCA
I'm really happy with where we are right now in this respect... I actually pulled $20K from TFSA's to pay off our credit line from re-roofing the house. We carry the mortgage and 2 years left on the wife's Subaru @ 0.9% otherwise everything else is paid off - I refuse to carry financing on toys, even have a hard time on vehicles, when I bought my truck I went with a low mile 2010 tundra just to avoid financing. I understand rates are at all time lows meaning it has never been cheaper to borrow but if things were to go sideways it's nice to know I'm in a positive equity situation.
Billy Boy
Active VIP Member
Please be aware you can go from Hero to Zero at the snap of her finger!!!
papajake
Active VIP Member
Paid off our 3 mortgage in March no more payments of any kind would not buy anything new again will wait for the big sell off in 1 or 2 years will be bargains galore
ferniesnow
I'm doo-ing it!
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Well, we have two Summits in the barn (2019 165" Summit X and a 2020 Expert), does that mean our toys are finally going to make money? Well not if we don't try to sell them they sure as hell won't. No they are not for sale!
I find it interesting how people think about various parts of life. All the lines of credit, CHIP mortgages, the big ads by Capital for using your home equity, and the financing that is crazy. I remember well, the 18% interest rates of the early '80's. I sold a house due to that fiasco and haven't had to mortgage a house since. I have used some lines of credit occasionally but very guarded and minimal. Can you imagine 18% interest on some of the debt people have these days? The market crashes and people can't sell anything! What a chit show that will be.....
It is nice to go through this BS pandemic knowing, that financially, we will be fine and if our health continues, it should be a few years before the pine box.
I find it interesting how people think about various parts of life. All the lines of credit, CHIP mortgages, the big ads by Capital for using your home equity, and the financing that is crazy. I remember well, the 18% interest rates of the early '80's. I sold a house due to that fiasco and haven't had to mortgage a house since. I have used some lines of credit occasionally but very guarded and minimal. Can you imagine 18% interest on some of the debt people have these days? The market crashes and people can't sell anything! What a chit show that will be.....
It is nice to go through this BS pandemic knowing, that financially, we will be fine and if our health continues, it should be a few years before the pine box.
Rotax_Kid
Active VIP Member
ABMax24
Active VIP Member
Interesting perspectives on some posts .
Think I will keeping to the low percentages of people , and keep chit paid for or do without .
I hate banks and paying interest no matter how low it is ,especially if it’s personal .
Zero percent is false selling gimmick as well .
Herd is always running in the wrong direction most times .
I think the one big caveat to this is housing. Particularly here in Grande Prairie. It would cost me about the same to rent my house as my mortgage and property tax combined, and at the end of the day half of my mortgage payment gets put down on the principle, plus I get to take advantage of any appreciation in value. Like most that's the bulk of our debt, and it doesn't make financial sense to save until a person can afford a house, with housing prices constantly increasing it's a moving target most would never hit.
pfi572
Active VIP Member
With Cat being screwed this year for sales due to law suit and Yamaha backing out even more ?
Cat obviously knew this law suit last year with the way they were acting ?
This gives only two choices this year as well which probably doesn’t help for supply on new sleds ?
Cat obviously knew this law suit last year with the way they were acting ?
This gives only two choices this year as well which probably doesn’t help for supply on new sleds ?
powpowpowpow
Active VIP Member
Locked in mortgage at 1.85% for 5yrs. No point paying down faster, invest the extra. Sled n mods always paid cash. Its the kids i see now with everything they have by age 25. None paid for lol..i keep saying that their life will not be pleasant when they hit 50.
ZRrrr
Active VIP Member
Luke The Drifter
Active VIP Member
I just redid our mortgage here as well, locked in at 1.79% for 5 years. I have a feeling that the next few years, sh!t is going to hit the fan and the interest rates will start creeping up.
pfi572
Active VIP Member
Wonder what the sled market is going to be ?!!
- Moderator
- #39
Bogger
Bogger of the GBCA
I need one more renewal in 4.5 years then it can do WTF it wants.....lol
But I'm not sure where all the $$$ is coming from, CERB gave some folks a little influx of cash but not stupid amounts and if everything is being bought on credit it's bound to crash likely sooner than later, I don't see any economic "Boom" in the near future....
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canuck5
Active VIP Member
I think of it to some extent as a rotation of where money was spent it’s easy for many to spend 5-20k on traveling and vacations that could easily be spent on toys.
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