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Old 03-17-2011, 10:03 AM
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Default 01 Kryptonite 29

Where can I find a NADA value for this boat ? Bank is telling me they find no listed value.
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Old 03-17-2011, 10:36 AM
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I just went through this with my bank. A survey is probably the only thing your bank will accept. Not a bad idea for your own benefit too.

I ended up going with an equity loan because the rates are lower, no lein on title, and tax deductable.
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Old 03-17-2011, 12:08 PM
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Quote:
Originally Posted by TexomaPowerboater View Post
Boat needs to qualify as a second home to deduct the interest, which typically requires permanent cooking and toilet facilities.
Yes, for a boat loan but NOT a home equity loan. Interest on HE loans is 100% deductable regardless of what the $$ is used for.
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Old 03-17-2011, 12:10 PM
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Correct, my mistake.
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Old 03-17-2011, 03:39 PM
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Low production boats like that don't make NADA. I had one and when it came time to sell it, no one knew what it was "worth"!
I think getting a survey is the only way to go.
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Old 03-17-2011, 06:19 PM
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Which 01 are you looking at? PM me a link if it is online, or a link to pictures of it. Always interested to see what other ones are out there.

Hard to put a value on it. Mine is an '06, that i bought in '09, and it has pretty much the nicest interior/cabin of any one that I have seen, so my asking price would be a little higher than what others that I have seen woudl go for.

Get an insurance/value survey done on it.
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Old 03-17-2011, 07:00 PM
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Quote:
Originally Posted by Philm View Post
Which 01 are you looking at? PM me a link if it is online, or a link to pictures of it. Always interested to see what other ones are out there.

Hard to put a value on it. Mine is an '06, that i bought in '09, and it has pretty much the nicest interior/cabin of any one that I have seen, so my asking price would be a little higher than what others that I have seen woudl go for.

Get an insurance/value survey done on it.
Phil, its mine...... and my interior's nicer!!!

Last edited by Mastercraft240; 03-17-2011 at 07:03 PM.
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Old 03-17-2011, 08:58 PM
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Phil, its mine...... and my interior's nicer!!!
No its not, its a different 01, yellow , with blue interior and a JC motor.
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Old 03-17-2011, 09:22 PM
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I thought they changed the law on deducting home equity interest, I think it has to be for actual home improvements
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Old 03-17-2011, 09:31 PM
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just looked it up, only an issue if you take 100K or more from homes equity
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