boat values/NADA

[mainstream]

If you default on the equity loan and the value of the boat dose not cover the note the lender can make you sell the home to get the balance if you can't come up with the difference I don't think you can short sale a boat so you would loose both house and boat

 

[Woody]

Every type of home equity loan or line of credit that I've seen so far is based on the equity of the home and therefore the home is held hostage should there be a default. The items the money is spent on are beside the point. I could buy a boat or spend it at a casino while on vaction in Europe(how could they attach a claim to that) and it would make no difference, the house is what is at risk not anything else.

 

[Eye Hunter]

how did we get off subject all i was asking was pricing and inboard vs vdr from nada . here is what i am looking at 98 sun dancer 330 v drives 5.7 blue waters ? new at this 390 hrs cockpit carpet and canvas are in ok shape and the boat is loaded and in good shape from what i have seen

thanks

 

[Woody]

Ok, to the inboard vs vdr thing. While v-drives are definitely 'inboard' they are not necessarily the same as inboards(often called straight drives). Google for boat drive types and look at the illustrations. The differences in space requirements, weight location can have an impact on boat layout, handling and performance in otherwise similar boats. It's common for example to lose cabin space and even the aftberth due to straight drives. An example might be some of the older SR like the 310EC and 310DA from around 1990. They are the same size boat but quite different. I'm sure some of the Old Soaks around here can give you a much better description. Sorry for the distraction.:huh:

 

[Eye Hunter]

OK so everything i am seeing on the internet are listings from brokers and they seem to be going from nada average if i were to make an offer would you say a good starting point would be 20% less for a private party? and when will the value drop on the boat for nada?

 

[mainstream]

The nada usually drops around the new modle year the newer the bOat the closer to nada you will pay unless it's a forclosure or hardship sale atleast that's what I've seen of late all you can do is make the offer on private sale if they are hungry they will bite IMHO
Good luck