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Nada versus asking price

Old 12-25-2016, 06:41 AM
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Originally Posted by jwws9999
talked to my credit union yesterday who I've been a member of for years. They said they only make loans on boats 25 feet and smaller, and theinterest rate was 8 percent. think I need to join a better credit unionI
Yup. I belong to a couple different CUs and needed a loan to buy my boat before I sold the other one. One told me they wouldn't touch it because it's not listed in NADA, another wouldn't bite because it was too old, and the third went 100% LTV at a great APR based on ABOS and BUC values.
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Old 12-26-2016, 10:54 AM
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Originally Posted by Speedracer29
Yup. I belong to a couple different CUs and needed a loan to buy my boat before I sold the other one. One told me they wouldn't touch it because it's not listed in NADA, another wouldn't bite because it was too old, and the third went 100% LTV at a great APR based on ABOS and BUC values.
this boat is priced right at the nada

http://www.offshoreonly.com/classifi...ne-o67690.html
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Old 12-26-2016, 09:55 PM
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Being a dealer we can generally get a used boat financed easier than a private sale. The lending institution usually wants us to provide an ABOS with an average sale price above what you are trying to buy it for. Sizeable down payment helps. 12-15 years is possible with a used price. Interest rate all depends on your credit "worthiness". Meaning they look at more than just a high credit score. I have seen people well over 700 get denied and people well below get approved. It weighs heavily on debt to income ratio. Prices will be all over the board and past sale prices will affect current values. Time of year-did the dealer take it in right or pay too much. Has it been sitting on the lot and they need to move it? Have they been paying interest on it and need to ask more to cover their expenses? The dealer will have it priced with the idea that they will have to get it financed for you so that will work in your favor. Clean low hour and top dollar and you are into it deeper. Not so clean needing a good buff and wax and maybe tightening a few screws may put you in a better position should you decide it is not the boat of your dreams after owning it.

Steve
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Old 12-27-2016, 08:54 AM
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so I checked the buc values today, and found them very similar to nada
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Old 12-28-2016, 07:34 AM
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Banks loan on NADA, thus that is the value, boats are only worth what the bank is going to give the buyer to purchase (most purchasers dont have 50 to 100k lying around in cash) ....I see many boats asking prices are 10 to 30 K above that value today....they must think we are in a great economy again with unlimited OT and house refinancing options lol
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Old 12-28-2016, 07:55 AM
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Originally Posted by welfare racing
Banks loan on NADA, thus that is the value, boats are only worth what the bank is going to give the buyer to purchase (most purchasers dont have 50 to 100k lying around in cash) ....I see many boats asking prices are 10 to 30 K above that value today....they must think we are in a great economy again with unlimited OT and house refinancing options lol
I hear what you are saying,but just because a buyer does not have the money lying around to put down on a boat it doesnt mean the boat is over priced.

I find NADA to be way off at some values.
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Old 12-28-2016, 07:57 AM
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what I'm finding is that boats above 45k are typically priced close to book, while the boats under 40k are way off

this donzi is priced right at average nada, wish I could afford it

http://www.teamshogren.com/inventory...ct/donzi-239/?

than I'll see 1999 baja's priced 20k above book, they are very nice boats (at least I like them), but the owners don't seem to think it matters that it's almost a 20 year old boat

Last edited by jwws9999; 12-28-2016 at 08:00 AM.
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Old 12-28-2016, 08:48 AM
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[QUOTE=jwws9999;4513363]what I'm finding is that boats above 45k are typically priced close to book, while the boats under 40k are way off

this donzi is priced right at average nada, wish I could afford it

[url]http://www.teamshogren.com/inventory/product/donzi

I disagree. Having actively been searching for a reasonable around 30' "go-fast" CC under $100k, whatever the book says, double it. That is the asking price in most cases. Once in a while, I might stumble on a deal, but by the time I can get over to see them, they are already under contract. It seems that more people have the money to blow on a boat that is overpriced than I thought.

What I keep hearing is that is the market! People would rather pay more for a older CC than the high priced new ones. The higher the price goes on the new, the more that drives up the prices on the old. I guess it's kinda like the used HD truck market......
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Old 12-28-2016, 09:29 AM
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[QUOTE=formula1;4513383]
Originally Posted by jwws9999
what I'm finding is that boats above 45k are typically priced close to book, while the boats under 40k are way off

this donzi is priced right at average nada, wish I could afford it

[url]http://www.teamshogren.com/inventory/product/donzi

I disagree. Having actively been searching for a reasonable around 30' "go-fast" CC under $100k, whatever the book says, double it. That is the asking price in most cases. Once in a while, I might stumble on a deal, but by the time I can get over to see them, they are already under contract. It seems that more people have the money to blow on a boat that is overpriced than I thought.

What I keep hearing is that is the market! People would rather pay more for a older CC than the high priced new ones. The higher the price goes on the new, the more that drives up the prices on the old. I guess it's kinda like the used HD truck market......
thanks keep me posted on your search. what model are you looking for
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Old 12-29-2016, 04:44 PM
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[QUOTE=jwws9999;4513406]
Originally Posted by formula1

thanks keep me posted on your search. what model are you looking for
Well......right now, I am looking at any of the mainstream go-fast CC's. And, now, I am back to considering a Formula 31-38 Fastech, too. They seem more reasonably priced.
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