I'm getting a loan to get my first boat. The president of the bank told me to pick the boat out and come back to so she can look up the blue book value to make sure the loan amount is equal or greater than the price of the boat.

Ok, well I have seen several boats that I like, when I check the value of them madaguides has the motor as n/a and it is not adding the value of a motor to the value of the boat.

So this is leaving me showing that a boat is only worth a grand or so, and I cannot find anywhere to add what motor is on it ect.

My question is how do I go about getting true blue book value?

Ask your banker.

Here: http://www.iboats.com/boatprices/

anthony, she uses the nada guides to look at the values.


gary, thats the same thing i've been looking at. when it comes to motor on there it says N/A

I just checked my motor on this website. There is no way that I could get a replacement motor for the prices they quote. Especially the condition that mine is in. JMHO

These people are smoking some serious stuff...

NADA guide needs to be read carefully so you can honestly judge value.

Internet gives retail, assuming boat is in very good condition and everything works. Anything that doesn't work, deduct from value.

A dealer gets three prices, retail, trade in, and private sell, all three will be different, retail highest, trade in lowest.

First, look at the top line to see what, if any motor and trailer is included in the value. If the motor in question is different, or isn't included, go to the motor section, and see what the value is of motor in question and add/delete it from value.

Is it perfect? Not at all, but it is a point to start. I wouldn't give over NADA on anything right now, because it's such a soft buyers market, if the seller wants more let it rot while he waits for a sucker.

I didnt even see the section for outboard motors.

Looks like the boat I am looking at right now is priced just right, it is priced at blue book value without the motor on it.

Pat,

I did just as you mentioned..I know how to read the NADA..
You are right, it is not perfect. Unfortunately, with the market as it is, lenders will more than likely follow it very closely..

I'll probably get a hit put on me for this but...

It's a pretty good negotiating tool, if you blame your banker, that's all I can get for this rig, it will quickly make the negotiations easy/fast for the seller. "Sorry bubba" that's all they'll give me for this rig, if you want to sell it, there you go.