Navigating the Coronavirus Endemic – A Perspective from the Marine Realm
Coronavirus has incited a wave of panic that is reverberating across the world. Investors cringe as they watch their portfolios take a hit, major events are cancelling at the loss of revenue, and the world is left questioning the lasting impact that this virus will have on our economy …
Financial heads are urging us to hang onto the life raft of hope as they believe that the volatility of the market will bounce back. For us, we’ve experienced our customers’ fear within our own industry. We’ve had a strong start to 2020, however, Coronavirus has stimulated cautionary action within the last couple of weeks. We wait patiently to see how this plays out with fingers crossed that the ripple effect will dissipate. We also believe that an investment in boating can be carefully achieved despite our current state of fear.
Invest in a boat brand that holds its value for years to come.
While we typically find that vehicles of transportation depreciate as soon as they are taken from the lot this cannot be said for all. We’ve found quite the opposite trend when it comes to one brand in particular. Regulator offers boating families and fishermen a line of high-end center consoles and crossovers. Being both a new boat dealership and also offering a brokerage service, we have a pulse on Regulator’s ability to sustain its value years after purchase. While we do not want to get your hopes up, we have even witnessed customers break even on their initial investment, or come within 10% of their initial purchase value.
Trust in your hull’s longevity. Re-energize by repower.
Boat hulls are surpassing longevity like we’ve never seen before. They are built to withstand and provide close to a lifetime of on-the-water memories. As we’re witnessing this to be true, it becomes more compelling to consider a repower vs. a new boat purchase. If you truly enjoy your boat, all the more reason to continue the saga. Investing in a new engine is a great way to re-energize your boat’s life while also achieving a smaller investment.
Low interest rates create opportunity.
With the onset of Coronavirus, interest rates have dropped creating an opportune time for consumers to borrow. As we’ve seen with past economic crises, consumers emphasize saving when they might otherwise execute a cash purchase. Since most are white-knuckling the edges of their seats, it’s difficult to envision a purchase that might take a portion of your savings. However, low interest rates open the door to several available financing options.
Get on the water. Escape the insanity.
While the world feels like mayhem right now, there is one thing that we have sheer confidence in. Enjoyment of the water brings many tranquillities difficult to achieve on land. The driving factors that lead people within their path to purchase can vary vastly. The one similarity that we’ve noticed, however, is an outlet for escape. Let’s face it, Coronavirus or not, life can be a bit chaotic at times. It is in our best interest to find the channels that allow our minds to quiet and feel a sense of peace. Boating has done that for us, our team, and our family of boaters for decades and will continue on that trajectory for many, many moons.