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Anybody ever use these before buying a boat?
I've looked at a few boats and there seems to be quite a bit of difference in the asking price and the NADA value. I was also told by Essex credit not to add any options when doing the NADA appraisal, apparently the finance companies use only the boat, trailer, and engine to get the actual value.
How much "water" do these values hold :p ?
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For financing I'm not sure...
I do know if I was to list my boat in the Trader, I would average out what people were getting for the same boat as mine, then add the upgrades like bigger engine, external steering etc..
Stereos don't add to boat value,
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You really like that lavey do ya...
It was a pretty boat, I tend to agree with NADA even thou im in the MINORITY here...
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I was also told by Essex credit not to add any options when doing the NADA appraisal, apparently the finance companies use only the boat, trailer, and engine to get the actual value.
I was just informed of the same thing last week.
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NADA is a friggin' joke when it comes to boats... :rolleyes:
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How could they possibly get all the data on customs? Most used ones go through private party I bet and there are way too many options. We did this exact same thing for autos when Insurance companies needed a FMV figure to settle a total. Even with cars it is very very hard to find a fair market value.
They may be in the neighborhood for production boats like Searays, Chaparral etc but for customs I think it is not accurate for purposes of personal pricing.
You are better off doing yoru own research via trader, paper and dealers.
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You are better off doing yoru own research via trader, paper and dealers.
Those will give you asking prices. NADA is supposed to reflect selling prices. I've watched quite a few boats that were on the market for a long time. As the asking prices were lowered closer to NADA values, the boats finally sold.
I paid NADA for mine last year. Similar boats that were (and still are) asking more than NADA are still for sale. After I bought mine, another seller lowered his to NADA range and it sold in a few days. I think NADA is pretty close to reality.
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NADA isn't that bad.. you just have to remember that all the extra bling bling stuff isn't going to add value (at least according to nada). its a good place to start if you want to haggle price. seems most boat owners always think that their boat is worth more then it really is. :) if your buying or selling just check the nada price then see what similar boats going for. even if you see several similar boats that are asking about the same price, it doesn't mean they are actually gonna sell at that price. i have seen alot of boats that have been listed for well over a year. :cool:
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seems most boat owners always think that their boat is worth more then it really is. :) l:
Aint that the truth...., look how many boats sit for SOOOOOOOOOOOOO LONG
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Aint that the truth...., look how many boats sit for SOOOOOOOOOOOOO LONG
thats a fact jack :)
http://www.jayski.com/home/pics/bmurray.jpg
I wrote that in the wifes name by accident, She was last logged on
:boxed:
i noticed that.. :rollside: