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Captain Morgan

Need to sale

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It has been a fun 12 years, but I need to sale her.  I don't know how much to ask for her, so if possible I would like to get some ideas from you guys.  I know they dont like us talking price so message me if you would like.  I have a 1996 1830 sport with about 500 hrs on it.  4.3L mercuiser.  I have put a lot of money and time into this boat.  These are things I added or changed:

New style exhaust manifolds no more batwings

Added color chart plotter/fish finder

Smart tabs

High 5 ss prop

At around 260 hrs

New heads

New intake manifold

600 cfm edelbrock carb

Changed to exhaust tube

 

The bad

Some of the seats have sun damage

Some of them have been redone but not all

 

Was thinking twelve deer because I have seen some without trailer go for eight deer

 

What do you think?

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It depends upon where you are in the country, however that sounds too high.  With the exception of the prop, I don't think any of those other things add much if any value.   I had a '98 1830 that I sold 1 1/2 years ago w/800 hour on it, but it still looked like new.  Upholstery was perfect, no scratches in the gelcoat and everything in the engine compartment looked like the day it rolled off the line.  Might have been a little low because it was late fall and I needed to move it (had my new to me 210 already), but it went for 7.5K with the trailer.  9, maybe 10 sounds more in line unless you're in an area where boats bring a lot more than the Midwest.

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No financial institution I am aware of will finance a boat over 7 years old, so you will need to find a buyer with cash which limits the field. As far as price goes, it's all about the current market i your area and a quick look at NADA may provide some pricing guidance.  W

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1 hour ago, Wingnut said:

No financial institution I am aware of will finance a boat over 7 years old, so you will need to find a buyer with cash which limits the field. As far as price goes, it's all about the current market i your area and a quick look at NADA may provide some pricing guidance.  W

I financed my 98 240 Signature w/o trailer with a credit union for 3 years. I only paid around 10, and I am near Annapolis and I bought in May. In November, I'm sure it would have been less. I doubt a trailer will increase value by 4, though, unless the trailer has a fridge and a hot tub on it...

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12-8= 4.  that is an unrealistic value for a used or new trailer.  Alot depends on condition, i dont see you getting more than 7 for both, on the high end..

Check NADA and boattrader.com, to get an idea

Good Luck

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Thanks for the info.  I live in western NC.  The difference between the original engine and the engine after the upgrades is like night and day.  Before the upgrade it would have trouble pulling an adult up.  Afterwords I had to add trim tabs because you couldn't keep the bow down, and it will pull a 200 lb adult out of the water like no one is back there.  I think the trailer adds at least 1k.  I would probably  settle for 10k.  I dont want to go lower because I feel like I have spent 10k on it just upgrading stuff not including the price of the boat or trailer.

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22 hours ago, summerpenguin said:

I financed my 98 240 Signature w/o trailer with a credit union for 3 years. I only paid around 10, and I am near Annapolis and I bought in May. In November, I'm sure it would have been less. I doubt a trailer will increase value by 4, though, unless the trailer has a fridge and a hot tub on it...

I curious Penguin, was your loan a personal loan or an actual boat loan? Did you use your home or savings account as collateral?  W

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1 hour ago, Wingnut said:

I curious Penguin, was your loan a personal loan or an actual boat loan? Did you use your home or savings account as collateral?  W

It was a Boat Loan through my credit union at 3 percent over 3 years. The boat was collateral, not my home.

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2 hours ago, summerpenguin said:

It was a Boat Loan through my credit union at 3 percent over 3 years. The boat was collateral, not my home.

Glad to hear that lenders are accepting older rides as viable collateral. Were you forced to obtain a survey?  W

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1 hour ago, Wingnut said:

Glad to hear that lenders are accepting older rides as viable collateral. Were you forced to obtain a survey?  W

Forced? I don't remember. It may have been a condition from the Credit Union, but I was going to do one anyway, which I did. The surveyor found stuff, and the Credit Union wanted to see two of the items fixed, like replace the sea water hose to the toilet (I had the seacock permanently closed instead) and replace the ignition coil ONLY because the surveyor's language in the report said those two items were critical. Had he not said that, I doubt I would have had to fix them before buying. I had to show them that I paid someone to do those things before they would give me the loan.

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On 4/22/2019 at 6:00 AM, Wingnut said:

No financial institution I am aware of will finance a boat over 7 years old, so you will need to find a buyer with cash which limits the field. As far as price goes, it's all about the current market i your area and a quick look at NADA may provide some pricing guidance.  W

Hey man, that’s wrong.  Tons of places will.  Not sure where you got that information.  In fact, my 2002 has a boat loan.  No survey.  No visual inspection of any kind.

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7 hours ago, WaterDR said:

Hey man, that’s wrong.  Tons of places will.  Not sure where you got that information.  In fact, my 2002 has a boat loan.  No survey.  No visual inspection of any kind.

As with all loans, I would think that it depends on the individual's overall financial situation. So many out there figure if they can make the payment, then they can afford it. Dad always told me there is no better rate than NO INTEREST. Smart man.   W

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my credit union will not give a loan on any boats made prior to 2008.    For anything newer than 2008, the interest rates are rather high.

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Sorry....you said you know of no bank.  I just want to let you know that lots of banks do it.  Heck, there are hundreds of boats at the local marina.  Many older and probably most with loans.  Sure, income and credit worthiness makes a difference. Usually if you have both, you can get whatever you want :)

Now is it smart?  Eh...that’s another convo. I try to not judge and “boat people” can be a funny sort.  

I don’t have car loans, own my PWCs, but when I bought the boat, was waiting on a batch of options to mature so taking a loan was just the easiest thing.

 

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