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I have been checking used boat values on nada guide and they always show pricing way lower than what people are asking. Is there a better site to use that I have not found? Thanks
 

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I have been checking used boat values on nada guide and they always show pricing way lower than what people are asking. Is there a better site to use that I have not found? Thanks
NADA is a "guideline" for values and not a final say on actual resale value. There are many other sites; BoatUS, BUCvalue, American Boating and even boattrader to check other prices on and then use them all to get an average. But you must know all the amenities a boat has to get a true value.

If a seller is asking more than the averages out there, just ask them why? Something is only worth what someone else is willing to pay for it.
 

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Bass Lake Dream'n
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Don't the banks look at NADA too? They probably only loan off that published value less 20, 30, 40%. Asking prices are higher because sellers are so upside down or the think its worth more.
 

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This is a very fun topic! If you need a loan from the bank think "signature". Or just buy a project and buy parts when you can!
 

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Here is an example-

Three years ago I bought an old (1979) Sleek Craft "Sportster". Love at first site! She was upside down in the weeds in a field in Idaho. If I wanted to sell her now I would list trailer up resto, blue printed bottom, JOV, 2 460 long blocks, TT headers and Rewarder OT headrs (both brand new), cobra jet single intake and dual intake tunnel ram, Berkeley rebuilt with custom ride plate, all new gauges and bezels, all new cables, new hardware, new vented fuel fills, new hose all the way around, new carpet, new diamond tuck upholstery, rebuilt peddle by JBP, etc etc. etc. Rub rail removed and blocked out STRAIGHT!!! If I listed her at $15,000 I would get laughed at, I could probably get $8,000. The bank would say she is worth the $800 I paid to haul her home.
 

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Don't the banks look at NADA too? They probably only loan off that published value less 20, 30, 40%. Asking prices are higher because sellers are so upside down or the think its worth more.
Banks will lend on an "average" resale value, but not usually on anything more than 10 years old. With more expensive boats will most likely require an appraisal too. But an appraisal does not guarantee "actual value".... 'market conditions' provide the value....
 
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