July 6, 2023 | Are you looking to purchase a boat or Jet Ski this summer? The fear of overpricing and underpricing can cause major stress when it comes to buying and selling any type of motor vehicle.
Having said that, being knowledgeable of the market will protect you from paying more than you should for a used boat, jet ski, outboard motor, or whatever seafaring vessel you are looking for. It's also important that you know what to look for when inspecting a boat. Below is a video that will show you some areas to inspect.
Researching the values of pre-owned boats and jet skis on the internet is a fairly easy process, and the National Automobile Dealers Association (NADA) guides can be immensely helpful. This guide contains information regarding the market values of personal watercrafts that will assist both buyers and sellers in establishing realistic and obtainable prices for their vehicles.
NADA reports and compares its statistical information to banks, dealerships, insurance agencies, and many other financial institutions, offering some of the most reliable price estimates to buyers and sellers alike. Consulting this guide will also give you the opportunity to check the history reports of many sea vessels, providing information on accidents, damages, repairs, salvage history, and/or government seizures – all of which will influence pricing and value.
NADA guide’s ability to appraise pre-owned boats and accessories and report these findings to consumers, dealers, and financial institutions ensures that the prices you find in their guide are as reliable as any. NADA organizes the NADA boats value information they gather by type of price, ranging from total wholesale price, suggested retail price, average retail price, and lowest retail price. If you are aware of the differences between these types, you will be able to estimate a realistic price or offer on the vessel you are interested in buying or selling.
Researching these values and estimates is easy to do. On NADA Book Info, we walk you step-by-step on how to get the value of your boat by using the NADA website at www.nadaguides.com. Once you complete an online application, you will be able to search models and prices. On your end, it will help to know the make, model, and condition of the item you are interested in in order to guarantee comparability between the prices the search returns and the average retail prices you’ll find in the local market. If the boat and/or its motor are less than five years old, your odds of finding a deal are much higher.
Navigating their website to obtain this information is a fairly simple endeavor. Once on their homepage, select the manufacturer, model, and year of the vessel. Select any additional equipment or perks you have added or are interested in having added to your boat or jet ski. After entering this information, NADA will provide you with the list of expected NADA Boats prices. As stated earlier, based on the age and condition of the vessel, you will need to use your discretion when it comes to setting a price or making an offer. While NADA provides a ballpark for prices, actual prices will be decided by the details of maintenance, history, and local market trends per vessel.
Similar is the case with KBB boats prices. Just log on into www.kbb.com, select the type of boat you are looking for and then it will ask for the make and model number. After providing the information, you will be navigated to the page containing suggested KBB boats value.
When you are in the market for a water vehicle, you can refer to NADA guides for information regarding insurance and financing options as well as prices. With this knowledge, you will be able to determine whether or not certain vessels are in your budget and avoid defaulting on any payments you may be required to make. Armed with this kind of information, your ability to successfully negotiate with private sellers or dealerships skyrockets. You will have an edge over the sea vessel market by equipping yourself with the knowledge found in NADA guides.