Join Date: Jun 2006
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Re: What Is A Boat Really Worth?
Few thoughts for the OP ...
The process depends a lot on how you are buying the boat, if it is with cash you can do whatever you want, if it is a loan then you are more limited.
The boat isn't a house, it is a nearly useless thing that costs money, so it is better not to approach it like buying a house. Boats are not "investments" (unless it is an oil tanker or freighter or something). The broker wants you to think of it as if you are buying a vacation home, but really it is more like buying used jewelry that you have to pay someone hundreds of dollars a month to store for you.
The buyer has all of the power in a boat purchase, the seller none, see above.
I think the best way to buy a boat is to ignore the asking price, don't even look at it, and just look at the boat and decide what it is worth to YOU. Once you do that you can take the seller's asking price into consideration, it may be that the price is a good asking price, or they may be asking way too much, but that's all their problem and has nothing to do with you and your money. Make an offer based on what you think the boat is worth to you, don't worry about insulting the seller.
If the seller is unreasonable, there's always another boat ... just walk away, life is too short and boats are too expensive to deal with pushy sellers.
During a recession all of the above x 10.
The people who scold you about trying to save money, etc, are brokers, or they were brokers, ignore them.
What are you pretending not to know ?
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