Whats a fair asking price on a 29 Scarab?

[jrcavness]

You would think $39K would be a great deal, but the market suggests otherwise. I have a 1998 29 w/ twin 350s, killer system, a/c, and trailer for $38k and it hasn't sold. I have a feeling fuel is only going to get worse. The good thing for me is I live on a smaller Lake where I don't actually drive it that far. I guess I'll just have to keep it.

[Viperbob]

As I have been looking lately, there are several nice ones that I ran into including a nice '97 with twin 300/350s recent rebuilds and all new interior and exterior. With a triple trailer they can not even get $24K. There is an older '94 with 260/350s and alpha drives that they are asking $18K and no offers. I think the economy has killed this segment of the market. And with the credit tightening, getting a loan is TOUGH... I have been checking out the bank repos, and the inventory is growing daily especially here in FL....

[Michael Garibay]

I have a customer who sells RVs for a living. She said that a customer came in with a 820 FICA score with $40k down to buy a $150k motorhome (thats aver 25% down) and the bank was giving him a hard time. Damn, I'm glad I bought my boat last year for that reason only. They are cheaper this year but getting a loan is almost impossible. So you have all these used boats for sale cheap but still nobody can afford to buy....Mike

[scarab kv]

Originally Posted by Michael Garibay

I have a customer who sells RVs for a living. She said that a customer came in with a 820 FICA score with $40k down to buy a $150k motorhome (thats aver 25% down) and the bank was giving him a hard time. Damn, I'm glad I bought my boat last year for that reason only. They are cheaper this year but getting a loan is almost impossible. So you have all these used boats for sale cheap but still nobody can afford to buy....Mike

Same thing with housing. Cheap houses with more then qualified buyers, but the banks are mak'n it difficult. The banks are just try'n to keep everything look'n worse then it has to be so the tax payers can bail their sorry azzes out.

[satisfactionII]

Originally Posted by scarab kv

Same thing with housing. Cheap houses with more then qualified buyers, but the banks are mak'n it difficult. The banks are just try'n to keep everything look'n worse then it has to be so the tax payers can bail their sorry azzes out.

That is exactly what is happening, which in turn pizzes me off to no end. The bans have no actual money to loan, because ...... the fat cats of wall street too it and gambled with it. grrrrrr

[Von Bongo]

Originally Posted by satisfactionII

That is exactly what is happening, which in turn pizzes me off to no end. The bans have no actual money to loan, because ...... the fat cats of wall street too it and gambled with it. grrrrrr

Actually, I think if gas was $1.50 still boats would be moving, loans are still being made, just not 0% and 110% of price like a few years ago. With the possibility of gas at $4.50 a gallon or more next summer a lot of people don't want to chance it.

Several regional banks like Wells Fargo and US Bank stock has hit 52 week highs in the last 30 days.

There's money to loan, borrowers however are thinking twice and it is harder to qualify. Think boat loans from the 90's.

[Wally]

Originally Posted by Von Bongo

Actually, I think if gas was $1.50 still boats would be moving, loans are still being made, just not 0% and 110% of price like a few years ago. With the possibility of gas at $4.50 a gallon or more next summer a lot of people don't want to chance it.

Several regional banks like Wells Fargo and US Bank stock has hit 52 week highs in the last 30 days.

There's money to loan, borrowers however are thinking twice and it is harder to qualify. Think boat loans from the 90's.

I totaly agree...my parents just went a bought an 08 Tahoe...loaded with everything i can possibly think of you could get in a truck...drove off the lot in under 30min!!! and for around $31K!!! He said it was THE first time he has ever bought a new car/truck that he didnt leave with a headache!
Another friend just went and bought all new appliances for his rental buildings....got credit on the spot with out any hassels....the money is out there to lend...its just the banks are being a little more careful to whom they lend too...

[nova26]

Theres a couple of P-29s there asking 50k for that are in great shape with a trailer. NADA avg is $30,130 for the boat. I've seen them go for as low as $28k. The one that was on speedwake is off there but still forsale. It was going for 50k with low hrs one owner but hasn't sold. Any input??