New language in the NADA Marine Guide

Published On: March 1, 2010Categories: Industry News

New language has been added to the National Automobile Dealers Association (NADA) Marine Guide. The new language offers a more accurate value on listings of new non-current boats. This addition is in response to the issue of banks devaluing new non-current boats as a result of consulting pre-owned listings in the NADA Marine Guide.

When determining the value of new non-current boats, banks have only been willing to finance these boats at an inaccurate pre-owned price, much less than the new non-current price. As a result, boat dealers and buyers have been unable to secure proper financing, ultimately deterring the purchase of new non-current boats by qualified buyers.