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View Full Version : Using NADA Online Pricing Guide


hokiecharlie
02-06-2009, 03:57 PM
In using the NADA online pricing guide to price a MC, do you have to add in the trailer? It looks to me like you do. What about "options" like teak platform and ski pylon? Are they assumed to be in the base price of a MC or do you just add in every extra thing in the list that your boat has?

Sodar
02-06-2009, 04:06 PM
Nada guide is useless. It is pretty much a lender's and a buyer's tool.

Best thing to do is get on all the boat selling sites (Craigslist, BoatTrader, Dealer Sites, etc.) and look at the comps. If you want a fast sell, list it for a fast sale....

brucemac
02-06-2009, 04:14 PM
nada does kinda suck and they recently adjusted all the values for used boats. mines dropped like $5K in 8 months. some lenders look at the options to grant loan terms and others do not. i don't quite understand how they calculate those values, but it seems kind of lame especially with lenders that only finance 85% of the low/average value.

captain planet
02-06-2009, 04:41 PM
UGH, it has been a while since I have priced my boat on there. Mine lost about 5K also.

You are right Sodar, it is useless. If I sold my boat for what NADA says it is worth it would sell in 5 minutes.

TallRedRider
02-06-2009, 05:10 PM
UGH, it has been a while since I have priced my boat on there. Mine lost about 5K also.

You are right Sodar, it is useless. If I sold my boat for what NADA says it is worth it would sell in 5 minutes.

Maybe if yours is something special and well taken care of for the model year, but I am not so sure.


I think at least for more recent model years, NADA is at least a guage of what someone who is professional at this sort of thing thinks.

I spent from September to December looking for a boat. I looked at a lot of different models but mostly 2006 or newer. Nothing, I repeat nothing, was selling for low book value at that time. I looked at several boats that came online to sites like mentioned above. The only ones that sold were below NADA low book once options were added in. The others are probably still there to this day. I can't imagine that things have improved in the last 2 months.

Stritt
02-06-2009, 05:17 PM
How is it useless if its only for lenders and buyer's?:o

Lenders look at NADA for loan purposes, so if you can find a cash buyer your golden otherwise, it is what will determine loan value. Why would a buyer pay 10-20% less than NADA for a loan PLUS the differential ABOVE NADA?

New left overs in the I/O cruiser and runabout are selling for dealer cost which is typically 30-36% off MSRP. That is going to KILL resale on those who bought the last few years.

hokiecharlie
02-06-2009, 05:21 PM
So, when you computed NADA value did you add in for trailer or assume that was in base price? On the MC I do not see an astersik which is what the guide says indicates that a trailer is included.

Stritt
02-06-2009, 05:25 PM
You add trailer and options, nice looking boat.

If you have a trade in price already, you have an idea on what you should be selling for. Obviously it will be higher than they quoted but not so high that it won't sell in this market.

Boat Trader etc are not good comps. I traded a 03 209 in back in Sept 2003. They gave me 36k, there are some out there attempting to sell in the mid 30's, they are still on the market.

Not sure on where you live, but keep in mind the sales tax differential savings for trade in, add that to dealer trade in cost and you need to at least sell for that amount to equal the dealers total price. Good Luck.

TallRedRider
02-06-2009, 05:26 PM
I should add that for my boat (I just calculated it) it is just $1500 less than it was 3 months ago. So the biggest drop happened before I bought in December.

Sodar
02-06-2009, 05:36 PM
How is it useless if its only for lenders and buyer's?:o

Lenders look at NADA for loan purposes, so if you can find a cash buyer your golden otherwise, it is what will determine loan value.

New left overs in the I/O cruiser and runabout are selling for dealer cost which is typically 30-36% off MSRP. That is going to KILL resale on those who bought the last few years.

It is basically a bargaining chip for buyer's, hence a tool. A buyer always comes and says "Nada has it listed for $11k and you have it listed for $13k"... My response is "Great, go buy the boat from Nada"

It is a baseline for what the loan industry will loan you, which in most cases is a joke anyways.

The value of a boat or any toy is worth whatever anyone is willing to pay for it. I do not need some computer generated guide to tell me the value of my boat. The fact is that Nada is always on the conservative side because lenders do not want to risk loaning more than what the boat can be resold for at the repo block.

Fact of the matter is that without nada, nice boats would sell for higher prices and crappy boats would go for even less than "low" nada.

Stritt
02-06-2009, 05:49 PM
It is basically a bargaining chip for buyer's, hence a tool. A buyer always comes and says "Nada has it listed for $11k and you have it listed for $13k"... My response is "Great, go buy the boat from Nada"

It is a baseline for what the loan industry will loan you, which in most cases is a joke anyways.

The value of a boat or any toy is worth whatever anyone is willing to pay for it. I do not need some computer generated guide to tell me the value of my boat. The fact is that Nada is always on the conservative side because lenders do not want to risk loaning more than what the boat can be resold for at the repo block.

Fact of the matter is that without nada, nice boats would sell for higher prices and crappy boats would go for even less than "low" nada.


That is your viewpoint, unfortunately in this market banks have tightened their lending standards and have been burnt by repo's. NADA - minus percent down is the norm and will continue to be in this market. So buyers are there but if the banks won't loan anymore than "their" terms, the market will adjust. Again, unless you have a cash buyer that is not informed, NADA values will determine loan values.

I'm not saying I agree with it, nor do I like the low values.....but it is the reality. Everything in the marketplace is "de-valueing" boats are no different.

http://www.yachtauctions.com/

This site has repo's from many lender across the nation......The prices are opening bid prices but many are there week after week.

Florida 2006 SeaRay 260 Sundancer with trailer 39k.......We priced one out in 2006 and was quoted $110k with generator, glad we didn't buy!!

mbpd312
02-06-2009, 06:19 PM
I believe the fact remains the same, the Mastercraft market for used boats are well above NADA values. Good luck finding one at book price. I was lucky enough to find one. When I posted my purchase on this site everyone commented that, "I stole the boat!" I bought a 1997 Prostar 190 LT-1 with 168 hrs for 11,000. This boat is in excellent cond., bought her in sept. '08. The only advice I can offer is research, research, research!!

JohnE
02-06-2009, 07:18 PM
Charlie, trade that boat in and get into that 214 already!!!!:D










JK - do what works for you.;)

hokiecharlie
02-06-2009, 08:23 PM
Charlie, trade that boat in and get into that 214 already!!!!:D










JK - do what works for you.;)
I'm about to, but a guy showed up at the boatshow and the dealer told him about my boat and he's interested. So, this one guy's worth a shot because anything I get over the trade offer is gravy and makes dealing with dealer all the easier. Just wanted to be prepared in case buyer brought out the NADA like the dealer did. Thanks for everyone's input.

JohnE
02-06-2009, 08:31 PM
I'm about to, but a guy showed up at the boatshow and the dealer told him about my boat and he's interested. So, this one guy's worth a shot because anything I get over the trade offer is gravy and makes dealing with dealer all the easier. Just wanted to be prepared in case buyer brought out the NADA like the dealer did. Thanks for everyone's input.


You're right - everything over the trade is gravy. Get another grand and it's win for everyone. You'll get more than the trade, buyer would pay less than from the dealer, and dealer won't have to sweat carrying your boat on his lot.

Witness140
02-06-2009, 11:00 PM
Charlie,

What is the VA trade in guideline regarding boats? Just running some numbers, if you sell your boat on your own vs trading it in, at a 5% tax rate, you'd need to get at least 1100 more than the trade offer to even break even compared to the trade. Then the headache involved, if thats worth anything to you. In the end, for me, I'd have to sell it for at least 3K more than the trade value to make it approach worth the hassle.

Just a thought, but I dont know how VA works the tax on trades.

I just traded mine, and I considered calling some folks and unloading it just to make a little more, but in the end.....it wasnt worth it. I would have needed 4K more in a private sale over the trade quote to approach making it worth it, and in this market.......4K more wasn't happening.

JohnE
02-06-2009, 11:09 PM
Charlie,

What is the VA trade in guideline regarding boats? Just running some numbers, if you sell your boat on your own vs trading it in, at a 5% tax rate, you'd need to get at least 1100 more than the trade offer to even break even compared to the trade. Then the headache involved, if thats worth anything to you. In the end, for me, I'd have to sell it for at least 3K more than the trade value to make it approach worth the hassle.

Just a thought, but I dont know how VA works the tax on trades.

I just traded mine, and I considered calling some folks and unloading it just to make a little more, but in the end.....it wasnt worth it. I would have needed 4K more in a private sale over the trade quote to approach making it worth it, and in this market.......4K more wasn't happening.

Same thoughts here. Now factor in sitting on it for a while.

east tx skier
02-06-2009, 11:19 PM
Nada guide is useless. It is pretty much a lender's and a buyer's tool.

Best thing to do is get on all the boat selling sites (Craigslist, BoatTrader, Dealer Sites, etc.) and look at the comps. If you want a fast sell, list it for a fast sale....

The older the boat, typically, the less use NADA is. Basically, the loss in value diminishes after a certain point.

But to answer your question, unless there's an asterisk next to the boat, you add to that price for the trailer.

TallRedRider
02-07-2009, 12:18 AM
I believe the fact remains the same, the Mastercraft market for used boats are well above NADA values. Good luck finding one at book price. I was lucky enough to find one. When I posted my purchase on this site everyone commented that, "I stole the boat!" I bought a 1997 Prostar 190 LT-1 with 168 hrs for 11,000. This boat is in excellent cond., bought her in sept. '08. The only advice I can offer is research, research, research!!

You should rethink that statement as that it is pretty much wrong for late model boats. Go to boattrader.com and look online. Book out a few of them and see what the low book is without the trailer and look at the listed price.

This 2006 X-45 is the cheapest out there for the year and is listed right at LOW book. That is low book that does not include a trailer. So I guess you add 4K for a trailer and it is that much below low book. Looks to be in good condition. This boat was online 3 months ago when I was looking, and is still there. I thought about going to Virginia to get it. This is just one of many examples.

http://www.boattrader.com/listing/2006-MASTERCRAFT-X-45-93374345

If someone out there has a late model boat and has a buyer for over low book, you should sell.

Eastie hit the nail on the head as it applies to older boats. There is a world of difference between a well cared for 10 year old boat vs one that has sat in the sun uncovered. NADA values are going to apply much less to old boats.

hokiecharlie
02-07-2009, 10:15 AM
Charlie,

What is the VA trade in guideline regarding boats? Just running some numbers, if you sell your boat on your own vs trading it in, at a 5% tax rate, you'd need to get at least 1100 more than the trade offer to even break even compared to the trade. Then the headache involved, if thats worth anything to you. In the end, for me, I'd have to sell it for at least 3K more than the trade value to make it approach worth the hassle.

Just a thought, but I dont know how VA works the tax on trades.

I just traded mine, and I considered calling some folks and unloading it just to make a little more, but in the end.....it wasnt worth it. I would have needed 4K more in a private sale over the trade quote to approach making it worth it, and in this market.......4K more wasn't happening.
VA boat sales tax is only 2%. I will pay 2% of gross purchase price ignoring trade in. Buyer of mine will pay 2% on sales price also. Nothing gained or lost in terms of tax on trade in versus sale.