Authentic Psychic Readings | How To Take Advantage of Banks Buying Your Next Boat

How To Take Advantage of Banks Buying Your Next Boat

This year has been a banner year for buying boats and water toys at state or local bank repossession boat auctions. Unashamedly, I’ve been a long time boat auction junkie it’s usually accepted that a boat repossession sold at auction will offer a 15-20% discount when compared to book value.

That’s not bad, especially when you figure larger boats retailing over $100,000..the savings is worth pursuing. This year is even bigger where the repo the boat auction climate has only served to inflate that percentage to well over 20%.

Boats auction in the U.S. — especially in the big four states (California, New York, Florida, and Arizona) are seeing lenders along withre-marketing strategies of non-performing assets. SunTrust Banks Senior vice president Don Parkhurst reports with regards to their repossessed boat inventory within todays climate, “You’ve just got to lower the price to where you can move it. You’ve just got to take the hit.”

The continued escalation in auctioned boats across the U.S. with most lenders has attracted first-time buyers who can now literally buy the same but later model repossession for significantly less than what a new boat buyer paid 3-4 years ago for the same vessel. Boat auction companies like National liquidators and Boat Auctions Direct have noted that with the decline of the U.S. dollar coupled the rise of repossessed collateral has perked the interest of shrewd international buyers particularly from Australia, UK, and Canada who have been taking advantage of this high tide.

So how can you save on a boat this year as well? According to the experts the key is consistently reviewing what’s out there. Frequenting auctions, online listings, classifieds, and dealer liquidations. Only by comparing asking prices and recent sales of similar models of the type of boat you’re interested in can you reap savings of 50% or more. It’s really not much luck as it is smart shopping with the right tools.

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