carlschlueter
Member
- Joined
- Nov 17, 2010
- Messages
- 7
- Fluid Motion Model
- C-24 C
- Non-Fluid Motion Model
- All Sold-- looking for R21
here are things I found out while selling my two boats since July.
Know your market. Understand that buyers and lenders go by BUCNET and NADA values and generally will not pay premium over those values as they did a few years ago. Cash in hand is worth more then any promise. Typically, lenders want at least 20% down- a few years ago- 0 down. Anything older then 10 years is next to impossible to finance. And consumers are very leary of financing recreational items.
Be cognizant of what consumers can purchase new. Boats do not hold their value- they depreciate and depreciate fast. Talk to dealers- find out what they might give on a trade value. They are the ones talking or trying to talk to the buyers.
One hard thing to accept was that my perceived value of my boat(s) were no where near the ACTUAL market value in today's economy. Buyers drive the demand and therefore the price.
Know your market. Understand that buyers and lenders go by BUCNET and NADA values and generally will not pay premium over those values as they did a few years ago. Cash in hand is worth more then any promise. Typically, lenders want at least 20% down- a few years ago- 0 down. Anything older then 10 years is next to impossible to finance. And consumers are very leary of financing recreational items.
Be cognizant of what consumers can purchase new. Boats do not hold their value- they depreciate and depreciate fast. Talk to dealers- find out what they might give on a trade value. They are the ones talking or trying to talk to the buyers.
One hard thing to accept was that my perceived value of my boat(s) were no where near the ACTUAL market value in today's economy. Buyers drive the demand and therefore the price.