Len's Cove Marina's Blog
Boating in Eastern Ontario boating is just around the corner. You have been waiting all winter for this, and the spring brings with it promise of summer fun ahead. What you don't want is to make choices that could give you serious headaches or reduce your time on the water. You made it through the cold and the snow, you deserve this time!Read More
Welcome back to Len's Cove - well soon, right? As of March 24th there was still 20-28" of ice on the Big Rideau Lake....so the panacea of an early spring seems an unlikely event. However, there are some rays of hope. El Niño (although a weak one apparently) should provide a slightly warmer and drier summer than usual. Fuel prices remain low - hurray! Parks Canada and the Rideau Canal seems to be holding the lines on hours and prices - so a great summer could be ahead.Read More
New boats or used boats - either are a fun and possibly stressful purchase decision. We have been displaying at Boat Shows for over 50 years, and although they have changed along with everything in our world, one thing has remained the same – the two main boat show buying risks.
NOT buying at the show. Not having the right boat for summer.Read More
There have been some big changes in the financial world over the last 6 months. The impacts are affecting you in many ways from the toys you buy, your groceries, and your trips and transportation, etc. When it comes to boating, the primarily ones that could make a difference for you are:
- The price of oil (gasoline, diesel, plastics, etc) has dropped dramatically! This is great news for boaters getting to the boat/cottage, and using it this coming summer.
- The cost or borrowing (interest rates) are steady or dropping. If your loan is up for renewal, or you are thinking about buying a new boat or used boat, this is going to help your cost of ownership.
- A strong US $ (and weak Canadian dollar). This will ultimately make boats (almost all boats) more expensive to purchase initially. More details on this below.
The first two are all positive when it comes to boating and almost any other activity. The last one has a negative effect primarily. Here are the four main ways that the Canadian / US exchange rate is changing boat prices:
1) New Boat prices are directly correlated to the current exchange rate and have recelntly gone up.
Almost all the boats that we use in Canada are built in the United States.Even the ones that aren't have a significant portion of their components built there, and they will be pricing their boats relative to US boats to maximize how the market is impacted. When a boat is sold to a dealer in Canada, that dealer has to "buy" US Dollars (now or in the future) to pay for the boat. There is no way around that. They either do it at the time the boat crosses the border (now), or leave it in US Funds till a buyer (you) is found for the boat (future).
2) Even last year's "non-current" (2013, 2014, etc.) boats are impacted.
Many of the boats are left in US Dollars as indicated above. Even the ones that were converted earlier, will "become more valuable" due to the increase in the 2015 boat prices. Dealers will almost definitely increase the price they charge for them.
3) What about used boat pricing? Same story as above.
Why is that? Well, if the price of the "replacement" boat went up, people are willing to pay more for the used version as it becomes more price attractive (relative to new). Sellers of used boats are going to be able to get more for those boats due to the increase in price in the new ones.
4) Will my trade be worth more?
Yes, you should be able to demand more for your trade in times of a higher US/CDN exchange rate. It won't make up for all the difference; it will partially bridge the gap.
Although the price of a new boat price has risen for 2015, it has been partially offset by the lower cost of ownership (fuel prices, interest rates) and if you have a trade, the increased value. The real risk of waiting is that it MAY go up further.
Life as they say, is short. If you can afford the amazing value that is time on the water with yourself, friends, and family, don't get stuck with purchase fear. You have worked hard, and it will all wash out in the end eventually. Just make sure you are informed going in and look for an honest dealer to help you with your purchase.
MasterCraft builds an amazingly well engineered boat. From time to time though we have owners talk about issues they experience. One of them is dead batteries and other times it is just "odd" behaviour from electronics. Here is a little "tutorial" that MasterCraft put together to help improve your boating enjoyment and reduce your chance of being stranded.
Some customers are experiencing odd behavior with their displays and other electronic
components in "COMBINE BATTERIES" position. This is typically
due to low battery voltage on both the start and house batteries.
Having lived on the Big Rideau Lake for 56 years, I am a canal boater in my heart. After many winters boating in the inland waters of Florida we have explored most of the navigable rivers and canals there including the Intracoastal waterway from Jacksonville on the east side to Clearwater on the west and the Keys to Key West. The St Johns river, the Caloosahatchie, Lake Occeechobie and the St Lucie have been travelled as well.Read More
I think most of us would agree that life is full of choices? Sometimes we think of these choices as good things: "Should I have a steak, or the tuna for dinner? Should we go to resort A or B for our holiday." Other times, the choices are can seem to be less positive: "Can we afford to replace the kitchen cabinets, or do we need a new furnace? Is it time for a new car, or should we just fix this one up?"Read More
Bruce Rice has helped introduce a lot of families to boating here on the Big Rideau and around the province. Many of them came back a number of times to purchase their second, third, etc. boat through Bruce. He treated everyone with honesty, and ethics regarless if it was a gorgeous new cruiser or a small value used boat sale. One of the most common comments I had the pleasure of receiving is "Bruce did a great job taking care of us; you are lucky to have him on your team." They are of course right, or I should say "were". All good things must end, and Bruce decided to sell his last boat at Len's Cove in October of this year. Bruce is retiring.Read More