Used boat pricing

[Jason F-18]

My father-in-law and I are looking at some used boats. Is there any sites to use to get a good value of a used boat? Especially one that you don't find very often? We use NADA to get the value for used boat loans.

For example here is a boat http://chattanooga.craigslist.org/boa/1247994080.html

When I put the specs into NADA, here is what I come up with http://www.nadaguides.com/default.a...d=1600072958&y=1999&ml=G&z=37343&gc=MR&gtc=MR

Now I realise that this price is not including the motor. Would a 10 yr old Yammer 60hp be worth $4k?

Does anyone know this boat that can comment on it? Or know of something similar for sale?

Thanks for the help. I don't want to offend someone, but I don't want to pay way to much for a boat either.

 

[xrfoxracer]

I dont know if your paying cash or getting credit but most banks now will oly loan 75% of what NADA's LOW value says....

Most likley in my eyes that is a 5,000 boat with the motor he has it priced alittle high

 

[xrfoxracer]

another thing... he may have put checked all of the perks and add ons that are available on NADA to boost the price up....

Find out what all extras it has... like GPS or Fish finder.... add the trailer on the value to... with a spare tire there is alot that matters when getting a value of a boat

 

[xrfoxracer]

here is what i got on the boat with a fish finder max depth 1,000ft........trim......and a 22 gallon bait tank

http://www.nadaguides.com/default.a...d=1600072958&y=1999&ml=G&z=37343&gc=MR&gtc=MR

Now here is the motor
http://www.nadaguides.com/default.a...=17002600983&y=1999&ml=Y&z=37343&gc=MR&gtc=OB

and the trailer
http://www.nadaguides.com/default.a...=18000100390&y=1999&ml=B&z=37343&gc=MR&gtc=TR

Here is my figures from NADA

Low retail value High Retail Value
Boat - $2,640 $2,955
Motor- $1,510 $1,700
Trailer- $645 $730

Total Low Value- $4,795
Total High Value $5,385

 

[xrfoxracer]

so if the bank only loans 75% of the boat HIGH VALUE they will lend you $4,038 on that particular boat
So you would have to come out of a few bucks out of pocket so try and talk him down some....

Which may be why its priced high he might wheel and deal with ya alittle bit

 

[Jason F-18]

Thats what I got too. But take the trailer off because the price of the boat already includes the trailer. It has an asterick next to the model which means the value is for the boat and trailer- no motor.

So that means I come up with about $3,500 for this boat, trailer, and motor. So would 3500-4000 be a fair price?

I have not seen it in person to see the condition of the hull, carpet, seats, ect.

 

[NRG]

If your serious about a boat be sure to have the Transom and stringers checked for rot, and make the seller let you take it to a mechanic to have the engine checked out compression and leak down test as well as have them check lower unit.
Go over everything , make sure every thing works as it should, Nada values are more of a guide line .. usually lower than they should be on older boats. But every boat is different, I saw a 1977 ski boat couple days ago that looked brand new, all original seats carpet etc .. looked like it was no more than 2 yrs old .. amazing condition! But NADA only gave a price of $800 ! so dont go completely by the guides

 

[Kirk]

When I was looking for a boat last fall I noticed the prices people were asking for boats was way over what the boats were worth. Not just a a few hundred but in most cases several thousand dollars over true value. I finally discovered that the problem was most likely caused by excessive finance costs and long term loans. Since most of the first few years payments are going toward interest, a lot of people still owed more than the boats worth in year 5 and 6 and sometimes even year 7. Anyway I am sure that a 10 year old boat should be paid down by now but you never know for sure.

I looked at a 93 last fall and the price was 2K over high retail. Go figure.

 

[Shankopotamus]

I foundthat most boat owners are PROUD (= overpriced)of their boats. NADA is just a guideline, as NRG stated, and it's difficult to compare "options" because of how NADA onlinelists them. My experience with Craigslist ads was horrible,people misrepresenting the boat and failing to respond to my inquiries. I finally went shopping at dealers and found a good deal (actually below NADA) on a 2004 Triton.</p>

Don't overlook dealers. You'relikely to find a quality boat at a good price without running all over town looking at private sales.</p>