Determining a boats net worth?
07-16-2007, 07:04 PM
#13
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Being I'm looking at 29's it must be a trick question.
I can only tell you the 29's don't seem to be moving well right now. Prices seem to be all over the board but mainly between 45-$55,000. From what I've seen and been told by the dealers the 26's seem to be moving very well and the 38's. Now please keep in mind thats in Michigan which we all know is PQ country.
I can only tell you the 29's don't seem to be moving well right now. Prices seem to be all over the board but mainly between 45-$55,000. From what I've seen and been told by the dealers the 26's seem to be moving very well and the 38's. Now please keep in mind thats in Michigan which we all know is PQ country.
07-16-2007, 11:26 PM
#14
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Engine Co 496
Not sure if anyone has told you this yet or not but just to make sure your factoring it in... NADA shows the value of the boat only. I'm assuming that your buying a boat and trailer package. Trailers are usually worth an estimated $2,000 for a boat that size.
And to your original question, VALUE is a pretty grey area. The value of fastforwards boat between the NADA, you, him, the bank and a baja owner will probably range over a $10,000 span. Dont let the amount that a bank will loan you determine wether the boat is worth that much or not. If you can purchase the boat, use it and take care of it... then in theory it should not depreciate at a rate that your taking a huge loss each season that you own it.
On a side note, I have purchased boats from surrounding states outside of Michigan and have had good luck making money on them in Michigan. This state has an excellent market and the values seam to be much higher here then NADA suggests.
Not sure if anyone has told you this yet or not but just to make sure your factoring it in... NADA shows the value of the boat only. I'm assuming that your buying a boat and trailer package. Trailers are usually worth an estimated $2,000 for a boat that size.
And to your original question, VALUE is a pretty grey area. The value of fastforwards boat between the NADA, you, him, the bank and a baja owner will probably range over a $10,000 span. Dont let the amount that a bank will loan you determine wether the boat is worth that much or not. If you can purchase the boat, use it and take care of it... then in theory it should not depreciate at a rate that your taking a huge loss each season that you own it.
On a side note, I have purchased boats from surrounding states outside of Michigan and have had good luck making money on them in Michigan. This state has an excellent market and the values seam to be much higher here then NADA suggests.
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