asking price vs. NADA

[badbrad]

How do I know I am not getting ripped off on asking price vs. NADA. When I upgrade next year I'm not kicking myself in the ass for losing $5k or whatever. I'm looking for an old Spectra or something like it. I want at least a 350 with loud exhaust. I have a budget of about $15K. Any suggestions?

[Essex502]

I'd rethink the "loud exhaust" desire in light of the new noise standards that are going into effect around the country. Just a piece of advice.

[Scream]

IMO NADA is a good "guide" but not the rule. Look at what a similar boat is selling for in your area, w/ similar equipment, etc. Then ask around. You're boating friends can help you figure out what's good and what isn't. Most of all, be patient, because there's some real toads out there.
I used NADA to value my last boat I sold. It was a good starting off point and helped me decide how much for what I had.

[mirvin]

As far as custom boats go, the nada guides are a joke. If you're paying LESS than the book lists, then you should be alarmed!!:D
The bigger joke is when you have to explain to your insurance company why the same year/ length bass boat that they pulled for a comp is not the appropriate comparison!!:confused: It might take some extra work on your part but you need to at least attempt to educate your ins. agent so that he can understand what a "custom" boat is.
Now for the biggest joke of all: Try explaining all that to your finance agent:yuk: YEah, the guy who tells you he can only loan you 80% of Blue Book wich means you gotta come up with $8,000 to buy that boat that costs 15,000 that they say the blue book is $6,000:confused: :yuk: :eek!:
mirvin

[welk2party]

For sure. There was a $35k difference between the sale price of my boat and NADA. I had to do some hoop dancin to get the finance company on board.:frown:

[ratso]

NADA is nothing but a guideline for the banks to see how bad they can **** you over.

[Dr. Eagle]

Originally posted by Scream
IMO NADA is a good "guide" but not the rule. Look at what a similar boat is selling for in your area, w/ similar equipment, etc. Then ask around. You're boating friends can help you figure out what's good and what isn't. Most of all, be patient, because there's some real toads out there.
I used NADA to value my last boat I sold. It was a good starting off point and helped me decide how much for what I had.
Spot on. NADA makes many assumptions in their pricing. One is that the boat hasn't had a major makeover. So if the boat has been given the once over... it is going to be worth more than NADA says. It is a good general guide though... sure gets you in the ballpark.

[BoatFloating]

Also keep in mind the NADa guide prices come from the manufactures. A questionaire is sent to them and the fill out current prices on all the models. Also NADA really doesn't have accurate numbers on extra's like stereo etc.

[Boat Loan Guy]

When you are looking for a book out value on a boat and using Nada the most the bank is going to give you is 125% of the low Nada value. If the value is not enough you can get a survey done on the boat, but this will cost about 300 dollors to have it done. If planning on using the survey it most be done by a certified SAMS survey to have the bank accept it. Somtimes you can contact Nada and they can help you book the boat out for about 20 dollars, they can ussally get a better value for there book outs than what a bank or finance guy can .....

[h2oedits]

For what it's worth...my 2c
After spending 3-4 days on the same quest (with less cash in hand), my best advice is to throw NADA out the window or at least use it as a very, very, loose guideline. On an older (by definition) Spectra, Howard, Hallett, Schiada, et. al, the conditions vary SO much that the "condition" aspect of the boat becomes the primary guide. I saw some 21's that were worth every bit (in my opinion) as a brand new boat: others were rags, and at 4K, were NOT great deals; I saw several others at 12-15K that were GREAT deals. Look at every one you possibly can, and after awhile, you get a true feel for their VALUE: which, by definition, is WHAT THEY ARE SELLING FOR. Also, NADA is obviously unaware of another trend: as limited production performance boats like these dwindle in supply at their continued rate (as they are, trust me), and new boats continue to increase in coast, demand will beat supply into the ground and the nice ones will NOT lose their value. If you're thinking of a 21', you should be able to buy something very nice in the 12-15K range.
Kevin

[Havasu Cig]

The interesting thing about NADA, is the guy he owns the company owned a 42' Fountain named "Nada Chance". You would think they would be a little more accurate.:rolleyes:

[Cs19]

The guy that owns that company has just about every toy imaginable.You should see his hotrods. Hes a good guy.

[257]

boat floating dont price your boat in NADA you will fall
out of your boat drown after the price they give
what stupid ass price quide thats the clue GUIDE