"Bucs for Boats" program
I am absolutly amazed by success of the "Cash for Clunkers" program. When this program came out the end date was Nov. 09 but just within one week of the program ran out of money. WOW. This program gave a boost to the automotive industry in all segments. Dealers are running out of cars to sell and that means the auto maker's need to get back to work.
I spoke to a couple of local boat dealers in Southern Califorina the day the "Cash for Clunkers" program was running out of money. These dealers told me that they just needed to sell one or two more boats per month to be able to see the light at the end of the tunnel.
Just think what $5,000. credit from a "Bucs for Boats" program would due to our industry. It would put keep some dealers from shutting it's doors and maybe boatbuilders could get back to work. Every segment of our industry would benefit from the marina's to the guy turning the wrench. Heck maybe I'll get a few more boat loan applications.
How would this be funded? Maybe the industry can get a Federal grant and maybe I'll lose 50lbs and look 20 yrs. younger. Both thing's may happen but I would not hold my breath. Maybe we can re-direct the grow boating money that is still collecting interest. I still would not hold my breath on that one either. The money would need to come from the private sector. I'll be the first one to put the first $100 into to hat. Here's my check for the "Bucs for Boats" program. Who do I mail it to? I'm not kidding.
Let's start thinking. A long time ago a very smart man to me that your mind is like a parachute, IT WORKS BETTER WHEN IT IS OPEN!
Thank you for you time.
Chris Lyons
Marine Finance Specialist
I spoke to a couple of local boat dealers in Southern Califorina the day the "Cash for Clunkers" program was running out of money. These dealers told me that they just needed to sell one or two more boats per month to be able to see the light at the end of the tunnel.
Just think what $5,000. credit from a "Bucs for Boats" program would due to our industry. It would put keep some dealers from shutting it's doors and maybe boatbuilders could get back to work. Every segment of our industry would benefit from the marina's to the guy turning the wrench. Heck maybe I'll get a few more boat loan applications.
How would this be funded? Maybe the industry can get a Federal grant and maybe I'll lose 50lbs and look 20 yrs. younger. Both thing's may happen but I would not hold my breath. Maybe we can re-direct the grow boating money that is still collecting interest. I still would not hold my breath on that one either. The money would need to come from the private sector. I'll be the first one to put the first $100 into to hat. Here's my check for the "Bucs for Boats" program. Who do I mail it to? I'm not kidding.
Let's start thinking. A long time ago a very smart man to me that your mind is like a parachute, IT WORKS BETTER WHEN IT IS OPEN!
Thank you for you time.
Chris Lyons
Marine Finance Specialist
Views: 2
Comment
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Comment by Chris Lyons on August 12, 2009 at 11:42am -
Thanks JR for the positive feedback. Back in the mid 1980's the state of California had a program to get rid of old junk boats that was beyond repaired or abandoned. As a young 20 something I worked in the boat yard that took chainsaw's to old wooden and fiberglass boats. I had so much fun. A local mech. school got the engines and a ship chandly got what was left of value. It was a great program. What if our marine industry paid $5K for an older model say 2000 or older and they would need to buy a NEW 2009 or newer. Do you think the industry coulod use a boost?
As for me being on the marine finance side of the busines I see many good credit profile buyers not buying boats becuase the banks are still not approving deals. I may get in trouble by saying that my decline ratio is 80% but what I want to get across is that there is a pent up demand for boats in America. What we need to do as an industry is help buyers get into boats. I have pushed for our own financial institution to help with our floor plan needs and retail boat financing. It seems that our trade assocations don't have the motivation to do something without asking the gov. for help (SBA).
I'm willing to work for free to take some pentup frustration out on an old boat. HAND ME A CHAINSAW!
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Comment by Chris Lyons on August 4, 2009 at 2:55pm
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NBC nightly news reported this morning that major auto makers had a 1.6% in sales for July over last year. What would a 1% increase over last year July sales do to the Marine Industry? Dealers that I talk with are 30%-50% down from last year. I think Mr. Anwy from Edmunds should do a little research and talk to some auto analysis before making any political statements.
Maybe we can wait until the RV industry launches a "Cash for Coaches" program then we can follow them again.
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Comment by Tom Morrison on August 3, 2009 at 10:20am -
Edmunds reported that the program did little except stall car sales from the previous periods that were going to happen anyway.
http://online.wsj.com/article/SB20001424052970204619004574324350084909302.html
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Comment by Jim Sabia on August 3, 2009 at 8:26am -
Great idea Chris, It seems the marine industry is more often on the outside looking in when it comes to issues that require unity of purpose. If we could speak as one we would certainly receive more of what we need.
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