Parker Boats vs NADA values

[bearohs]

I have been on the hunt for a 23 CC maybe a 25.

I have had a couple used that I liked.

Called the banks to determine what they need to underwrite the loan. All use NADA guides.

So NADA has big difference vs ask price.. 2004 2300, is apparently a 16-19k boat, but all I see are being sold at 30k.

Any ideas on how to fix this, or is this a Parker / NADA issue?

 

[DaleH]

It is a bank and NADA issue ...

First off, NADA values are HORRIBLY under-valued, I'd estimate ~ 60% 'at best' of average retail 'worth'. And whereas NADA is the worst for boat values, and while I am surprised the banks aren't using subcription value services like ABOS or BucValue ... in this economy ... I guess I'm not surprised ... as they just DON'T want to lend you the $$ on an older boat!

You could, if REALLY interested in a boat, hire a professional marine surveyor to do a full marine insurance valuation on the rig, which would be a bank-ready document fully describing the agreed-upon value of that rig. Banks should honor this document. Such a survey could cost you up to $500 without any engine analysis, which would be extra.

 

[bearohs]

Dale-
Thanks. You are correct, its a bank/data(nada) issue not Parker.

Didnt think about that. Doubt BOA will care either.

Guess I need to look new *YUCK*...

 

[Surface Interval]

Ask your bank if you get a Certified marine survey done on the boat if that will work from them. The survey will give you a true value of the boat. It will cost you some money but, it's worth ever penny. I did a survey on my boat and went with BB&T they were great.

 

[talbot guy]

Why do you want to pay more?
We bought a really nice Grady White last year to use with our Parker.
A really clean 2008 model for about 5% under NADA without adding on any of the NADA list of accessories.
I think maybe you haven't found a motivated seller yet in this down market.