Impossible Boat sale:Need help

[Po Boy]

For the past 6 months, I have been trying to sell my boat. I have posted it on many (at least 7) different websites (including this one twice), put it in every major newspaper within a 6 hour drive, called every boat dealer within 4 hours, and sent flyers all over the place. The ads have cost me over $500 and have yielded virtually no results. Most of the ads never even get me a single call. I am at a loss as to how this boat will ever be sold. I desperately need the money and am selling for what I owe the bank. I am hoping some of you might have an idea to help me out of this predicament.
Here is a description of my rig:
2001 Crestliner TS 172, side console, almond & blue trim/carpet
2001 Yamaha F115 fuel injected fourstroke w/hydraulic steering
Eagle trailer w/4 support bunks, 2 guides, surge breaks, spare tire
MotorGuide Lazer 2 ES bow mount, 62 lb. thrust, 24 volt
Lowrance X-15 MT on Johnny Ray mount
Lowrance Global Map 1600gps on Johnny Ray mount
Uniden VHF radio w/ratchet antenna
Scotty rod holders w/flush mount bases (qty6)
Boat has 3 seats, upgraded livewell system

I have been asking $17,300 for this rig which is what I owe bank. I have already paid over $4,200 in payments. Doesn't that sound like a good price? It certainly seems so to me but I just cannot sell this thing. If anyone has any ideas, please let me know. I'm about to put the keys in it and set it along a crowded highway and hope somebody steels it. Any input on why I have had no success would be appreciated. Oh yeah, this is in no way an attempt for a free ad here on WC, as previously stated, I have already advertised it here numerous times with no results.
Good fishing

[Big John]

Try Ebay sold mine there and got top dollar for it

[Esoxrox]

Sometimes you gotta take what people offer you. When I go shopping I do not care how much the person owes on the item, that is their business. Times are tough now also, a lot of people on bubbles, if you are determined to sell it you will, but maybe not for what you feel is a good deal.
Good luck

[Gumbo]

Try www.traderonline.com

[Ray McClelland]

Po Boy what is your e-mail address?

[Doc]

Getting Married?????? Sounds like a nice rig, I will talk to some people, to see if anyone is interested...

[Po Boy]

Sorry, forgot to include email. angler74@epix.net

I already had the boat on ebay and the high bid was $8,000
It was also already on the boat trader, no responses.

Thanks for the feedback fellas.

[David Anderson]

Check with your dealer or other popular used boat dealers. Most of them will sell on consignment with a 10% fee. They should be able to tell you the pulse of the market out there and what is an appropriate price. One thing to remember is that the new boat sales this year was significantly higher than projected. This is evident by the lack of motors and delays in delivery of new rigs. This has also put a glut of used on the market.

[LCFISHERMAN]

I am not interested in buying your boat but:
Is the bank loan assumable for a new buyer to take over the payments
I move alot of construction equipment and sometimes the buyer assumes
the existing loan and doesn't have to pay sales tax, except for maybe just a filing fee for the bank
Let me know about the assumable part of this question before I tell you how else to market the boat
LC

[hunt4dx]

All I can say is good luck. I have been trying to see my Ranger 619 for the 7 months. I have only had 3 calls in that time.

Can't understand it.

Bear

[Craig]

PO Boy, I don't want to seem cheap, but part of the problem with selling a boat for this price is the fact that people look at the price and see they can buy new boats for less. I am in the market for a boat, but my prices on a NEW Crestliner Fishhawk with the 115 4-stroke are $3000 less than what you're asking. Grant it, the Fishhawk is not the Tournament Series, but for the most part they are not much different. Remember also, your boat is going on two years old and has been used. Would you buy a used boat at more than new boat prices? Warranty? I think you need to understand that if you sell that boat now, your probably going to lose your butt on it. Good luck, I wish the best for you.

[Keith_MN]

My thoughts exactly. Unless the warranty is transferable on boat and motor I wouldn't even consider paying that kind of money on a used boat....been there....done that.

If the warranties are transferable state it in your ads. And mention the other miscellaneous items you are willing to part with. If you are selling everything off (life jackets, locators, batteries, oar, fire-extinguisher, anchor, etc., etc.) its amazing how much that stuff is worth if the new buyer had to buy their own.

Good Luck.

[Ray McClelland]

Hey Craig,
Now does this $3000.00 less include all of the add ons that Po Boy overs including the time investment of rigging the boat or the hours for break-in on the motor warranty. There is a lot of money and time invested(and time is money!)in rigging alone. If there were any bugs in his boat he would have to let you know by law. Not like a new boat, where you have to find them the hard way. Like you said about the $3000.00 cheaper new boat, it is the cheaper model also. And no waiting around for things, like you would with the new boat, just ready to go fishing! Besides the boat he is selling is still under warranty. Also this time of year, boat and motor back-orders could have you waiting til next spring to go fishing. Why does it always have to be these days? I guess I'm just getting old. Hope my wife doesn't trade me in for a new one!

[LCFISHERMAN]

Ray
If the wife does trade you out, you know she'll have a waiting
time before she get's her motor running
It'll give you time to beat her to your best Spots
Just kidding you
Good Fishing

[LCFISHERMAN]

Let me know about assuming the boat loan if you get a chance
Trying to help-ya
LC

[Po Boy]

I will assume that the payments would be transferable, if you had acceptable credit. I'll have to call my banker to make sure. Yes, this is a good deal of money for a used rig but look at what you are getting. The hull has 18.5 years left on warranty and the motor has 2 years, they are transferable. Also, the X-15, Global map 1600, and Lazer 2 ES are all under warranty.
It does have rod holders, horn, fire extinguisher, 3 batteries, launch rope, etc.. This rig needs nothing and is ready to fish. To buy a comparable tournament boat with these options, would cost well over $20K. Thanks for the input. Oh yeah, I just made another payment, price is now $16,800.
Thanks for the input.

[wyosteve]

Not that I know everything, but in my experience, people buy used boats for one of two reasons, i.e. 1)the price makes it a real bargain or 2) it is a model or style that is hard to find. In your case, I think you have both going against you. NOT that your price is unreasonable, but it is not yet a "steal" which it will have to be to sell it this time of year. And, a 17 ft. aluminum fishing boat w/ a 115 hp. motor is pretty common to find. Plus, many walleye fishers who hit big water seem to prefer a 19 -21' boat. Keep at it though, I just sold our 98 Lincoln, but it took about 5 months to do it. I know that doesn't help much when you are facing that payment every month. The only other option is to sell it at a loss to get out from the payments.

[LCFISHERMAN]

I don't want your boat, but thought if some buyer could take it over
from the bank with the tax and interest$$ you've paid it might roll over to a way to market your boat(anchor) kidding on the anchor
You sounded excited about sellin- so I piped in

[Marble Eyes]

Where are you located?

[Po Boy]

I am located in the east (Pa.) which is the biggest reason for the difficult sale. This isn't exactly the walleye belt and deep-v tournament style boats aren't real common. I am willing to drive halfway, no matter how far. Also, I just sold a rifle and put it all on the boat. The price is now $16,300.
Thanks for the feedback to all who have posted. I guess it will only take time and some patience.
Good fishing

[liner]

Crestliner does not transfer warranties any more.

[REW]

In our society - if something doesn't sell; the price is TOO HIGH - for the market.

Apparently for your market - you are asking too much money. Drop the price and it will sell.

Keep the price up - and agree to ship or take the boat to a different market.

If you sold your boat in MN - for your asking price - you would probably only spend $300 - to trail it to a potential seller.

It might be worth while to advertise in some of the mid western newspapers - and agree to deliver the boat to a buyer.

Take care
REW

[REW]

p.s.
I met a very nice fellow this way. He was looking for a walleye boat, but was unable to find one in his location. He looked in the Minneapolis paper - found a boat - called the buyer; had a local person check over the boat; agreed to buy it; came out with his truck and pulled it back to his house - 1000 miles away. He got the rig that he wanted - for the money that he was willing to spend.

Take care
REW

[Ray McClelland]

Hey Po Boy,
Do you want me to change the price on your ad to $16,300 then? It's still at $16,900 on the ad. Just let me know so I can change it.

Ray McClelland
of McClelland Outdoors

[Jethro]

I can think of three problems you MAY have with selling your boat:

1. NADA has value of it lower than asking price, so someone can't use the boat as the only collateral on a loan. (I don't know this, but might be true)

2. You can't borrow money for as long or as good of an interest rate on used boats. I just got 7.75% factory financing on my Lund, my bank offered me 9.9%, higher on used. Also, if I made a smaller downpayment, they said I could have got an 8 year term on the loan. Three years is the longest term banks will do on used boats, so the payment on your boat would be high. Someone with $16K cash isn't likely to buy a boat like yours, they're probably more in the Ranger market.

3. Your boat might be priced too high for the market.

[Po-boy]

Can your boat be assumable for the loan or not
I'll just start a new thread to find out

[Calif Bill]

Call the people holding the paper on your boat.
Bill

[Calif Bill]

Sorry,
I think I posted as PO BOY by accident
I have not signed on as a member since my computor gave me fit's so
the PO-BOY was mine
I still wanna help the po boy out if I can
LC

[Po Boy]

Bill-
I believe so but would have to contact my banker.

[flandrulifer]

I just purchased a 3 year old boat for the same money that is being asked for in this post. Eboatloans.com offered to finance the boat for up to 10 years @ 9.9% interest.

All of my local banks would only offer 3 years as stated in a previous post. Buyers would have to weigh the pros and cons of financing for so long.

For me to get the boat I wanted...ready to fish... It was a no brainer to finance it as long as possible. I expect to pay it off in 5 years, but if I make too many fishing trips(according to my wife) I can still pay the minimum payment of 190.00.

May be an option for your potential buyers.

[Chris]

I'm shopping boats right now but live near Lake Erie so I'm shopping boats 23' to 25'.

Just curious about the talk about boat financing. Doesn't it make more sense to temporarily use a home equity line of credit rather than a boat loan?

Huntington Bank is offering 1% below prime. 3.75% (guaranteed for 10 years) sure beats 9.9% and you can write off the interest.

That's the way I'm doing it, anyway.

[JJ]

Financially it makes 100% sense to use a home equity loan to pay for a boat. As you can write off the interest and usually get a lower rate.

But, now you have your house backing your boat. If you were to fall upon hard times this could be a problem.