Man overboard! Boat sales sink along with rest of consumer spending
Interestingly, boat rentals have stayed strong as consumers recognize that renting is less hassle and can actually cost less money: Most people who buy boats don't end up using them as much as they had initially planned, meaning that renting probably would have been a better option.
So if you're in the market for a boat, is this a great time to buy? If you have the cash (you should never, ever take out a loan to buy a boat ) and know you'll be using a lot, it could be. But most consumers would do well to remember this crude little mnemonic: If it flies, floats or (another word that starts with f), rent it.
By renting a boat, you can avoid long-term commitments and the possibility of costly and unpredictable repairs that can turn a hobby into a nightmare.