I agree the banks want to loan money if you have a good score you are in that boat with no problem. and by the way look at the blog just started on the 1989 with eggbeaters 35000 what that boat worth .?

You have to have at least a 720 credit score with 10 % down is the norm for most and is generally required by the 9 leading marine lenders in the USA. How do I know that I am signed up with them for retail boat loans. I am boat dealer since 1991 and currently have used inventory but in my day sold 50 new boats per year and 100 pre owned per year. Those days are gone for me.

Anyways the hp of the engines are in question for the added value thru whomever ABOS or NADA along with the retail buyer and the loaning bank. With that said OEM Mercruiser 1992 high performance series engines as we all know these are NOT SC engines in this app..

So that leads to the Mercruiser HP 425 with 400 hp at the prop and the HP 465 with 445 hp at the prop. These are not 8.9 L HP 500 with 465 hp at the prop as they carried Mercruiser three A drives not standard bravo's. All of those engines came with Gils and he has CMI's which is what a bonus. Not really. Pressure check twice a year is recommended at the bare min especially saltwater apps. How are you justifying the $13,000 add for the motors when you think these are 471 - 500 hp not proven nor stock from OEM Mercruiser.

I am not saying the boat is worth the money but is not worth 33k either. I agree it should have sold somewhat close the asking price but has not as nobody posting here has bought it either being such a steal of a deal. Which again leads to why has it not sold. Check writer boat mainly, wrong time of the year, motors what are they really. Top 3 reasons..

Just showing what NADA says and that is what the banks use, at least mine did. NADA does not ask if they are Mercury HP 500's it just says 8.1 liter 470-500HP, this boat has 502 8.1 liter engines around 500hp and NADA thinks they are worth $13000.

My bank asked me all the options my boat had and size/horsepower of the engine when I purchased it so they could add all those options in NADA to get the value. Not saying NADA is correct but that's what banks use. So most people should be able to get a loan on this boat as long as they are not a dirt bag with crap credit because NADA values it more than the purchase price. At the time NADA valued my boat for $2000 more than I paid for it so I had no trouble getting a 100% loan with good credit.

Sure this boat needs some TLC but for the price it is the right boat for someone that has some time fix it up and make it their own.

This is what NADA says based on what I could see in the add for that boat. But when you start the value for Powerplay Marine they have this disclosure.


Select Year & Model
1989 Powerplay Marine Inc Values, Specs and Prices
Operating in the state of Florida, Powerplay Marine Incorporated provided customized watercrafts. Creating sportfishing as well as high-speed performance boats Powerplay Marine Incorporated has produced vessel lengths from 25 to 38 feet. Existing since 1989, Powerplay Marine Incorporated ended production after the 2003 model year.
Select a 1989 Powerplay Marine Inc Model
(2003 - 1989)
Note: Manufacturer note(s): No longer in production. These were custom made-to-order boats. Some of the values may need to be adjusted higher for excessively equipped boats.
Model note(s): (*)Includes the value of the outboard motor(s).

Base Price $83,500 $11,350 $12,800
Options: (change)
Cockpit Cover $155 $175
Depth Sounder $75 $85
Stereo - AM/FM/CD player w/4 speakers $160 $180
Batteries - Dual w/Switch $80 $90
Fuel Injection $310 $355
Outbd. Hydraulic Steering $245 $280
Outbd. Power Tilt/Trim (101-300 HP) $200 $230
Propeller / Stainless Steel (3-Blade) $145 $165
Trim Tabs / Hydraulic $250 $285
Trim Indicator $60 $70
Outboard Engine: 260 - 300 HP (change) $2,460 $2,460
Trailer: (change)
1989 Tri-Axle 35 Feet $1,835 $2,060
TOTAL PRICE: $83,500 $17,325 $19,235

I don't think NADA is correct on any boat just because we all know it really depends on condition, hell NADA doesn't even ask how many hours are on the boat but that's what banks use.

You are correct most marine lenders will go off of NADA. A very few go off a professional boat survey / surveyor assessment. I know how you got the 13 k added value from NADA but I am looking at them at 426 hp thru 470 hp thru NADA. That's it.

NADA has % figures on above average conditions to very poor conditions to add or subtract upon their average retail figure of any boat.

you being a dealer would know best.Do the banks get that involved with buyer and seller proving the hp and added stuff and condition and trailer seems like a lot of work. I would think if you have good credit and own stuff while always paying on time it would kind of be like a slam dunk. almost like your just getting a cash loan. ?

They want drive serial #'s and they want engine serial #'s and they want trailer serial #'s and they want HINS, Then they want to match on the titles or any from of legal doc as some states do not have titles for hulls and some states do not have titles for trailers. All new boats carry MSO's and so do new boat trailers for selling and titling purposes thru the state offices.

They want the make & model of motors and hp rating. They want the make & model of drive(s), they want the make & model and info of the boat trailer as well. they want a list of options included on the boat as well.

As a dealer (for me) if any of this is forged by myself especially having a state boat dealer LIC for the boat and a state motor vech dealer LIC for the trailer, I could get sited for fraud if I mismatch things including serial # s and mis rep any part of the boat heavenly increasing the value to help get a retail buyers loan . If I played with serials #'s the state would bring fraud charges forth against the forger.

Now with said if by chance the bank finds out or in a process of repo the boat down the road, it could fall back on me and possible fraud charges. With that said if the motor gets changed out after the loan by me or some one else that's a different story. You could never get away with forging #'s on new boats and values - unless you have service records and docs for drive change outs and motor change outs and add on options upgrades selling brand new off the lot. I am only speaking here in TX for my dealings.

Also before you ever get signed up with marine rec lenders you have to submit a bunch of paperwork to the banks about yourself and financials plus they look at your credit score and balance sheets, and so forth. You just do not get signed up providing marine loans to the retail buyer saying so or having a dealer LIC. Some of banks require you to carry new boat lines to offer marine loans as well for the new & used boats . The marine lenders will do both loans if you are a new boat dealer but some will not do used boats only even being a LIC boat dealer.

Wow! I now see the dealer stuff is much harder rules! My boat purchase was private party and my bank just wanted NADA value and HIN for boat and trailer so they could put a lien on the title. But as pinbal said it was kinda like a cash loan but they had a lien on the boat so if I defaulted they could get the boat and trailer and possibly their money back. But since I have good credit my bank loaned the money with a good interest rate since I'm not a default risk.

As like a car dealership banks probably have to worry about the dealer overinflating value also to make the deal . think about it

And in the good old days for rec loans this was a decision the loaning banks made within a hour or 2 max. Also the boat can not leave the lot without the new owner showing proof of insurance on the boat and trailer. If it leaves the bank will only mail the dealer or deposit the funding to the dealer when everything has been handled and the titles showing them as a lien holder plus the insurance coverage . Or the titles / paperwork mailed back to them so they can put themselves as the lien holders then let the buyers handle their title work, then the funding is on the way to the dealer.

Can not tell you how many times I had to wait weeks and weeks for the bank to hand over the funds. These are large banks that always have a lot of red tape and a ton of paperwork. Really can not blame them since its their money until that payment is made. Bank of America, Wells Fargo, US Bank and so on. Anyways FWIW and least this 33 PP gets and stays to the top from posting.