c dory nada values

newbie · Posted: Wed Oct 03, 2007 5:22 pm Post subject: c dory nada values

Hello all. I am looking for a boat to purchase. I plan on financing a used boat. It seems to me that the nada guide prices ive been getting are a lot lower than what people are asking for their boats.. Is this common? if so ,why? do most c dory sellers use this guide? if not, why? Im trying to find a boat that fits within the guide for financing. Thanks

rogerbum · Posted: Wed Oct 03, 2007 5:50 pm Post subject: Re: c dory nada values

newbie · Posted: Wed Oct 03, 2007 6:38 pm Post subject: nada

Thank You

Jazzmanic · Posted: Wed Oct 03, 2007 8:29 pm Post subject:

Newbie,

If you find a creative way to obtain financing for the market value of a C-Dory, please share. It's possible I may have to refinance one day and it looks like I'd have to pay a lot out of pocket due to the NADA undervaluation. If that were the case, it would be better to either buy new or to take out a Home Equity Line of Credit.

Peter
C-Dancer

Chris · Posted: Wed Oct 03, 2007 10:18 pm Post subject:

A "big boat" approach really helps here. Obtain a list of approved surveyors from your financial institution. Select a surveyor in touch with the market on C-Dorys. It will cost a bit more to have the boat surveyed...but you will end up with a much more realistic value. With an official survey, financing at more realistic levels will be possible.

mikeporterinmd · Posted: Thu Oct 04, 2007 10:49 am Post subject:

I had a boat one time that NADA listed for perhaps 50% more than anyone I
know would have paid for it (ie: NADA over-valued it.) NADA is
just a rough approximation. If you obtain financing from a company that
knows boats, I doubt you will have a problem.

When I was looking at a TC-24, I got a custom quote from Boat/US
that was spot on. But, that quote was also done by a person that
knew something about boats.

We ended up using a home equity loan because the rate was better.

Mike

Ashley Lynn · Posted: Thu Oct 04, 2007 3:34 pm Post subject:

Another avenue would be to speak with a C-Dory dealer to question how someone finances a used C-Dory.

I would imagine that CDory dealers work with lenders that will provide reasonable financing for a used C-Dory.

marvin4239 · Posted: Fri Oct 05, 2007 7:45 am Post subject:

I was considering a really nice used 2003 22 Cruiser in Tampa some time back that was listed on the site. It was loaded with about every accessory in like new shape with twin 50's. Seller was asking $33,900. I checked with my credit union and they asked about the accessories and came up with a loan value pf $47,000. I don't know if all lenders include accessories when evaluating a boat but it seems they should. The boat sold to the first person that looked at it.

thataway · Posted: Fri Oct 05, 2007 6:24 pm Post subject:

I agree that NADA (and BUC) undervalue C Dories. But remember that NADA evaluates the value of the outboard separately, and you should be able to get some significant credit for the accessories--start from the factory schedule. Also use the selling values which are listed on the C Brat site--copy that and enclose it with the finance application.