Is dealer taking advantage????? help

[jet-r-done]

Went to the local boat show this weekend, and was surprised to finally see a local Yamaha dealer!! After talking with a salesman, and looking at the 2015 line I began to toss around the idea of trading in my 08 AR230 for a new AR240. After walking around the rest of the show, I went ahead and gave him the go ahead to start tossing some numbers around to see what the damage would be. Got a call from him today. My question arises in the fact that his NADA Average trade in value is about 4K less than my average NADA trade value. When I pointed out that he didn't include my upgrades he told me "You aren't going to want to hear this, but its kind of like chrome on a Harley or peterbuilt" If NADA counts it as increase in value, why wouldn't he? Does this sound legit, or is he just trying to get the beter end of the deal? Need some thoughts on how you would approach this. And FYI the upgrades he is ignoring are:

Yamaha mooring cover
Yamaha cockpit cover
Yamaha bow cover
Cobra steering
Dual wakeboard racks
4 tower speakers with PA built into amp
Yamaha Dual battery kit w/ switch

Not an option on NADA but still an upgrade:
trailer LED light kit
retractable rear tie downs
Boat Buddy II
Brand new Yamaha carpet
stereo and rear remote upgraded to a kenwood
boat speakers upgraded to polk

 

[Julian]

He is mostly correct....add ons to boats get very little ROI. What I can see if your boats average retail is 25K with low at 22K. That is RETAIL--you are looking at a Trade Value (which means he has to get it lower than retail so he can sell it). If your boat is clean and in good shape, I'd be shooting for 25K for it. If he is at 21K, then you'd need to decide if it is worth your trouble to sell it yourself retail.

 

[Bruce]

My experience is that the upgrades help sell the boat faster but not necessarily for more.

I would sell whichever cover is in the best shape separately from the boat.

What color are your bow and cockpit covers?

 

[Julian]

Here is what is on Boat trader.....(remember those are asking prices).

 

[jet-r-done]

Ok then. Well if that is the case, I think I am better off selling it on my own and then using the profit as a down payment. He was going to give me 18-19K on trade. I know I can get more if I sell it on my own and be patient. After all, I still have awhile till boating season. Anyone want to buy a boat? lol

 

[JC6275]

If I am reading your post correctly you are saying he is pricing your boat without adding the upgrades that show up as an option on the NADA site. If this is the case I would not accept that, I can guarantee whenever the dealer puts it on the lot for sale they will most definitely put the options on the sheet for pricing. As stated above you will not receive a ROI for the upgrades , but to have the dealer not even add them to the NADA appraisal is unacceptable to me. JMO

 

[jet-r-done]

JC you are correct. He is wanting to give me trade in on a plain, off the floor, 08 AR230. I understand that every upgade isn't going to add value, and that a lot of upgrade are for mere personal taste. However, I feel like if NADA gives you a credit for it than it should reflect on the trade in value. Things like factory covers, wake board racks, and tower speakers should be reflected. You can't tell me that the boat is worth the same with or without it.

 

[GiddYupJoe]

@jet-r-done first off welcome! Did you think about countering the dealer with... Fine, if they are of no added value then I will remove/keep all parts and trade in the boat as if it came off the showroom floor? Good luck either way you go. I can speak from experience that all the extras added to my boat prior to me purchasing only made me buy it it, it did not entice me to pay more for it.

 

[scokill]

If you trade in anything you will always be selling wholesale and buying retail. NADA is a source for both dealer and buyer but it's just a source of data and is not a bible. They may also flip trades to another dealer so they have to make money at wholesale. I don't think any legitimate dealer is trying to "screw" anybody...just the way trades work. I would definitely sell it yourself.

 

[Julian]

Ok then. Well if that is the case, I think I am better off selling it on my own and then using the profit as a down payment. He was going to give me 18-19K on trade. I know I can get more if I sell it on my own and be patient. After all, I still have awhile till boating season. Anyone want to buy a boat? lol

Good plan! Our classified section is free to post in...try there and see what happens.

 

[dustinjean]

I have been talking to an axis/malibu dealer a couple hours away lately about trading my boat in and they have such high mark up on boats they offered me almost msrp for mine, if they want to put you into a new boat bad enough they can make it happen. Even if they take a small loss on your boat they gain it on the new one most dealers just don't want to mess with used boats.

 

[jlcj7]

@jet-r-done first off welcome! Did you think about countering the dealer with... Fine, if they are of no added value then I will remove/keep all parts and trade in the boat as if it came off the showroom floor? Good luck either way you go. I can speak from experience that all the extras added to my boat prior to me purchasing only made me buy it it, it did not entice me to pay more for it.

I couldnt agree more with this... if no value remove and sell. Im sure there are people out there that would jump at the covers and racks

 

[skrip345]

Just remember, as a private seller you have to do the all the leg work. Maintaining listings online, sifting through the leads to find the true buyers, possibly assisting in arranging financing, etc. Not to mention, eventually having to let potential buyers into your home or storage area where they can see what else you have laying around, AND the possibility of taking them for a sea trial. All work that the dealers are paid to do in selling a used boat. Finally, when you trade, the deal is done. No tax credits floating around, no extra forms to fill out and send in, no possibility of the new owner calling with mechanical issues or questions. Someone else mentioned it above, you should send the dealer a counter offer. Whether you offer to remove some accessories and sell them privately, or leave them be and ask for more trade allowance. So far it sounds like you are working off his first pencil. We are taught to low ball, then come up slowly so you don't leave money on the table. Make them work for it, perhaps you can get closer to making the trade numbers work with the convenience of trading.

 

[rkluck]

In my area the average value is $23,160. I also have Harleys so I am used to not getting a lot of value for add ons. I usually don't worry about what the trade in value the dealer gives me. All I care about is the net. I know what my boat is worth (research and some soul searching). I know what I want to pay for the new one. I don't care if they lower the price of the new one or give me more money for the trade in. The bottom line is the final difference you are happy to pay. Many times you actually get a better deal if you let them finance as well. I have done that several times and then paid it off right after the deal. Good luck!

 

[jet-r-done]

Ok got off the phone with the dealer. Apparently (according to what he said) he has a guy very interested in my trade-in and wants me to see if I can bring it over this week. After telling him I will have to do some thinking and talking with the wife, he called back and offered me another 1,000 on trade. that brings trade-in up to $20,000. If you go my way, average retail is $25,410. If you go his way low retail it $20,410. Still leaning towards just selling it on my own and putting it towards a down payment. Since its a new boat, I'm not really trying to grab a deal that may be gone next week. I will be able to buy the same model at the same price for the next 6 months at least.

 

[Lextacy03]

I would call him back and say 22,500 and you'll come with title in hand.

 

[BoaterGuy]

Ok got off the phone with the dealer. Apparently (according to what he said) he has a guy very interested in my trade-in and wants me to see if I can bring it over this week. After telling him I will have to do some thinking and talking with the wife, he called back and offered me another 1,000 on trade. that brings trade-in up to $20,000. If you go my way, average retail is $25,410. If you go his way low retail it $20,410. Still leaning towards just selling it on my own and putting it towards a down payment. Since its a new boat, I'm not really trying to grab a deal that may be gone next week. I will be able to buy the same model at the same price for the next 6 months at least.

I may be re-iterating what others have said regarding private sale, and in no-way am I trying to scare you away from it but; Make sure you account for the cost of your time and effort and fuel to take people on sea trials.

When I sold my Fourwinns everyone interested in it wanted a sea trial, and it was sitting at my Yamaha dealer 40 mins away. So everytime someone wanted to sea trial I would have to leave work early to get there before the sun went down, make sure there was gas, put it in the water....yadda yadda. It was a HUGE PITA.

I ended up practically giving the boat away because I was so sick of dealing with trying to sell it. Some people even no-call no-showed completely wasting my time and truck gas.

Now... if the boat is near your house and possibly already in the water, it would be cake.

 

[Bruce]

Everyones selling experience is different. In 2013 I sold my LX210 in three days to the first person that looked at her after a short lake trial for the $12,500 asking price which I remember being $1000 less than book value at the time.

 

[Zarrella]

Wow imagine that...just when it looks like the deal might go south.....the dealer has someone who wants your boat! lol

 

[JC6275]

Seems to me, if he came up 1,000 over the phone... He has another $1,000 to 1,500 to put in your boat to get a deal done. Keep in mind you can also push hard for some extras for the new boat to be thrown in . This Will offset the cost of things you would most likely buy anyway and you could count it as getting more for your trade in.