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Old 07-18-2013
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Re: What Is A Boat Really Worth?

Originally Posted by RobGallagher View Post
Most sellers or owners don't like to agree with NADA, but, in fact it is what it is. An accurate representation of what a boat is worth to someone who needs to get a loan.
But the real point is that a very large percentage of boat buyers do not get loans. That means that while NADA and lenders may set the limit that a small percentage of buyers can pay, they do not, and cannot actually set the market price.

As for using Other People's Money. Yeah. It's a great idea. But it does not work when you are buying a depreciating asset that will not be used for generating revenue. In that case, as hellosailor said, it is the bank that is using YOUR money--not the other way around.
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