Baja & NADA book value
 

It's crossed my mind to put the OL up for sale and I about fell over when the broker I was talking to gave me a suggested retail on what he'd list the boat at. I'm rollin' a 29OL single 385 and NADA showed high retail at 27G. Is this the top amount a bank would loan on the boat to a potential buyer? There's not a boat listed that's anywhere near that low, in that size, on this site. There's one just like mine that their asking 51,000 for at LOTO. Granted it's not selling but I find it hard to believe that "offshore" style boats are selling that low.

Problem is the banks. Hard to find any that will finance a performance boat today.

hay my motor is worth more that my boat:eek:

You'll be hard pressed to finance your boat being it's over 10yrs old..Most likely looking at a cash sale.

x2 and most won't loan 100% of NADA now either. They might have to put as much as 20% down, have over 700 credit score and a good track record.

The boat is worth what somone is willing to pay for it. A boat it perfect condition will be worth more than book. Fair condition may be much less. Like was said now a days the bank will not loan what the boat is worth. Can't really blame them with all the repo's in the past few years.

Yeah, agree with all above. I just bought my 03 29 with HO's...was like pulling teeth to get bought with excellent credit, low D to I ratios and more then 20% down cash. I had to get bought by a small local credit union with all sorts of "red tape" to pull it off and missed the origional 29 I wanted to buy at Hawkeye. Even Hawkeye finally got me bought on their boat, but then their bank would not lend to "Texas" because it was too far from their "lending area" (in other words if they had to REPO it they don't want to drive to TX to do it). BOA, Chase, Bank of the West, Nations, Regions etc nobody would lend on the boat. Jamie with eboatloans.com told me that he only had one lender who would loan on "go-fast" boats left and they wanted a minimum of 30% down and $50K price tag......

Tough market out there right now unless you can pay all cash or have some strong connections with your personal banker...

I'm glad you guys are chimming in on this. For those of us who read all these posts and constantly have thoughts of selling/upgrading/refurbishing ect. bouncing around in our heads, this helps to make those decisions easier....Keep what we got and continue to enjoy it for as long as we can!! Or just make more DINERO and pay cash!!!

I think 27-30K sounds about right for a 99 single engine outlaw....Pending on the shape it’s in. I got a call this morning from the guy I sold my 2000 29 to telling me he would sell it back to me for 35K.... Half what he paid for it and he put 20K in it after he bought it from me not to mention I had already put about 60K in custom work into this boat paint, stereo, new motors & drives ect.…….... the market sucks for sellers right now. Good luck.

Keep what you have..... good idea. I wish I would have never sold my 36. I did not owe much on it and now to get what i want I have to put a good bit down. O well....

Wow, I just bought a used 272 with 0% down. Then again I bank with Navy Federal Credit Union and have excellent credit for a 33yr old.

I know of 3 people that have went to try and get loans. Only one of them made it through the process. This is one of the reasons so many dealers are going under.

Wow, A 272..... Vey nice. You should be able to get a signature loan for that if your credit is as good as you say.

Enjoy.

Damn I'd really like to move up but I may be stuck in what I got unless I take a beating. I guess a 20K beating over 5 yrs ain't too bad for a boat addiction. At least it's mine free and clear so I'm not upside down in it.

Fact is if you have a boat to sell you most likely take a beating but if you are upgrading you can pass that beating along onto the boat you are buying. If you are a cash buyer you are in a much better position.

way to sound like an ass.

Please forgive me if you think I sound like an ass…..that was not my intention. I don’t see how my response is any different then his was to my post....

I’m sure you’ve had $20K worth of fun.... I know if you’re like me you have. There’s no other hobby like boating. Not that I have found..

Sorry that was a late night :ernaehrung004: comment, I see your side. Happy drinking...um I mean boating.

I am selling my Formula 271-SR1 so I can get a bigger boat. It is sad when you sit down and acutally put the numbers together of how much money you stick in a boat while you have it and then when it comes time to sell you get a third of what you have put into it. I have close to 60K in my boat and I will be lucky to get 20K back out of it.

The only way I look at it is I didn't buy a boat to make money. I did it to have fun and get rid of some stress. Funny now that I'm typing I think of all the times it's stressed me out. lol

To me NADA seems worthless. It all depends on the boat and the area. Down here in Texas, dumb a$$ dealers are bidding up wakeboard boats $5K-$10K above book. That's why we started to play with these larger powerboats.

We've been able to pick them up and book them out such that the buyers have been able to get them with only 10% down. We just sold the 26 outlaw we had for $50k. Got the guy financed for 6.5% with only $5k down.

Lot's of people looking at NADA forget that they need to add in options. And a trailer is another big adder that most forget. Not to mention that NADA's values for motor upgrades are based on some stupid generic chart that goes by HP, not the actual motor upgrade.

The best that I do is to just scour the net looking for what people are asking for their boats. By taking a large enough sample, you can usually guestimate what a good starting price is.

I usually take the lowest price I can find on the net, list the boat a few grand cheaper than that, and then expect to get a few grand less as the selling price. It has seemed to work out that way for wakeboard boats and the last 4-5 baja's we have had.

That being said, I haven't really done any homework on a boat that old, so I can't really help you there on what to expect in price. Good luck though!!!

Cheers!

Check the value here at BUC, I think you find there values closer to actual.
http://www.bucvalu.com/

Getting a loan
 

It's tough for sure.I had enough equity in my Home so I just got a Home Equity line of credit and used the money to make cash offer and get a better deal and cut through all of the red tape.Better interest rates and is tax deductible at year end.Good luck

Hey, its usually not the boat that stresses you out!!!! Its the jokers in it:lolhit:

I agree! If you don't have 30K equity in your house you may not need a boat anyway:)