Posts Tagged ‘boating’


Evaluating a boat that you plan to sell is important, but there is also a lot that you can do to improve its value during the sales process. Specifically, if you are good at advertising the boat, you will have more interested buyers and can therefore afford to be less flexible about the price.

If you chose to sell your boat privately, you will save the costs of a Dealer or Broker, but it is important for you to get organised so that you don’t miss on any crucial details.

One of the most important elements of boat marketing and sales is the presentation. You need to do something that will make your vessel stand out amongst all the boats and yachts that are advertised for sale. Pointing out the unique points that your boat has is one of the best methods.

It’s good to take lots of quality digital pictures of the boat, not only of the whole boat from the outside but also of details and of the interior. Good pictures from a past trip may do the trick, but don’t just rely on travel photographs and make sure that you have the best possible photos, as this could make or break your search for prospects.

After having researched possible advertisement alternatives, choose on the one, or several, that you are going to use. There are lots of valuable free listings available on the internet, but you may want to supplement these with a more visible paid listing. Boat sales take a while, so you should have your listing up for at least two months.

Another great place for adverts are signboards of local marinas or boating clubs, especially considering that it is likely that the buyer will be from the surrounding area. You can use a printout of your online ad to advertise on signboards. Trade magazines are another advertising platform to consider.

When preparing the ad, your focus should be on making sure that it stands out. Of course you should list all the technical specifications, but concentrate on what makes your boat unique and especially valuable. Adding an anecdote from your use of the boat is nice, as it personalizes the vessel.

Once a serious potential buyer has been found, you will need to be ready to answer lots of questions, so be ready with all the specifications, history, extra pictures, and other info that you need. It’s often good to go through a question and answer process before actually visiting the boat, as this will save you time during the visit.

Don’t forget than when it comes to the price, most buyers will expect to be able to negotiate on the initial asking price somewhat, so be ready to counter any objections they may have and to be able to reiterate the boat’s value. Still, be ready to concede a bit on the price.

The secret to sales negotiation is to be well prepared, anticipate what potential buyers are likely to say and work out in advance how you’re going to react, keeping in the back of your mind what price you’ll be prepared to accept. If there is anything about your boat that makes it unique and/or particularly attractive to the buyer, make sure to point that out.

BoatValueWorld.com has the answers to all the questions that you were afraid to ask about boat prices! Check out the site to make sure that you are in the know about boat evaluation.

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Last Updated on Wednesday, 18 November 2009 01:49

A few years ago, getting a boat loan was quite easy, but is a difficult to qualify for a boat loan now. It’s not impossible, however. Here are a few tips to improve your chance to qualify.

1. Run your credit, with all three agencies. As Equifax, Experian, and Transunion may all come up with different results. You want to check to make sure that all the information is correct and that you opened every account that appears. If you find one that you didn’t open, you will need to submit forms to all three to dispute the creation of the accounts or the charges.

2. Understand how you FICO score is calculated. A FICO score can be improved by paying your bills on time, reducing your debt, and having ample credit space, especially zero balance accounts. A FICO score is the measurement of your financial stability.

3. Put at least 30% down. By putting down a larger down payment, you show a bank that you have a financial commitment to the purchase and also have “skin in the game.” If you are able to put more than 20% down, you might even be able to negotiate better rates.

4. Know your history. A bank will look at your credit score, and commitment to the loan by looking at the amount of your down payment, but they will also consider the rest of your history, including employment history, loan payment history, cash reserves, and the size of any previous loans. Banks hardly lend a significantly larger loan than the other loans you may have had in the past.

5. Put together the documents detailing your current financial position. This includes your year to date earnings, your last two years of tax returns, and your investments including cash, stocks, annuities, IRA’s, 401k’s etc. Also understand that you are not just proving you capacity to pay back the loan, but pay back the loan and take good care of the yacht, because if you default the bank will own the boat.

6. Understand how bank look at your debt and income. A bank will want to see that your monthly debt payments are not greater than 40% of your monthly earnings.

7. Choose the right representative. A yacht loan broker is an independent advocate that can connect you with every bank that provides boat loans (not all do), the criteria you should use when choosing your broker should be if they have a long standing, strong relationship with the banks.

Now is a tremendous time to buy a yacht. There are ample opportunities to purchase yachts at that represent an exceptional value, or may have been previously unaffordable. Take the time to prepare in advance, get “pre-qualified” for a yacht loan so you know that financing will not affect your negotiations or timetable to purchase.

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Last Updated on Monday, 9 November 2009 01:51