Sled market predictions

[FernieHawk]

12 grand for a 2015 xm ..get real I can't imagine anyone would pay that.

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]

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]

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.

I have a feeling that there is going to be a lot of toys for sale next year for cheap when Trudeau comes knocking on the door of every CERB recipient. Its insane to me how many guys are financing everything and anything at this point. New truck, new sled, new sled deck, new gear etc etc. I'd love to have a new 850 turbo in the garage but I refuse to finance it. Thats just me though, I'll keep saving my nickels and ride my T3 for another season.

As for the 177% debt to income ratio, I think theres a lot of things that have contributed to this. Namely easy credit on everything and for anyone with two bucks to their name. I find it disturbing that places like Canadian Tire offer financing for damn near anything they sell. Saving money and living within your means is becoming a forgotten thought process. I'll admit, I've been guilty of it but I'm cutting out the stuff I don't need (truck payment mainly), paying down debt and trying to stash some money away. To each their own but the less a bank owns me the better IMO. I'm just grateful and happy to be working full time through this whole dumpster fire known as 2020

 

[canuck5]

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]

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 .

 

[Pedaling pete]

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...

 

[Bnorth]

People don't care about debt anymore. Good for them, doesn't work for me.

 

[Bogger]

People don't care about debt anymore. Good for them, doesn't work for me.

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]

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...

Please be aware you can go from Hero to Zero at the snap of her finger!!!

 

[papajake]

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]

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.

 

[Rotax_Kid]

Please be aware you can go from Hero to Zero at the snap of her finger!!!

It's like a reputation..years to build..seconds to lose

 

[ABMax24]

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]

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 ?

 

[powpowpowpow]

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]

We are number 1....some good sales coming me thinks...

 

[Luke The Drifter]

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.

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]

Wonder what the sled market is going to be ?!!

 

[Bogger]

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.

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....

 

[canuck5]

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....

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.