Things To Know Before Buying Your Boat – NADA Guide

Just as the conscientious car shopper calls the Kelly Blue Book their ‘must-have tool,’ the NADA Guide is the marine seller and buyer’s mainstay. Whether you’re hoping to sell your current vessel or are in the market to acquire one, this handy sidekick from J.D. Power features the value of everything from 7-foot dinghies to sailboats to 60-foot yachts. Inside, you’ll find a full 15 years’ worth of valuations – all the better to price your craft accordingly (or understand whether a price tag is fair).

Refer to the NADA Guide when buying, trading, or selling a boat. Inside, you’ll find:

Easy To Navigate

A recognizable format similar to the Kelly Blue Book – This handy guide is easy to navigate and invaluable to use. There’s no guesswork here; simply search by vessel. All the research has already been done for you.

Research

Can we say ‘thorough?’ A quick search through the NADA Guide reveals a wealth of information. Let’s say, for example, that you’re considering a vessel in the 2019 Caravelle Boat Group. The guide will specify craft by boat type, hull, beam, engine weight, and more. You’ll see the used trade-in value as well as the average and high retail price.

Pricing

The NADA Guide makes it so simple to understand price points and to compare them. It’s also a handy number to have when determining the right amount of insurance coverage necessary. This aspect takes the shopping experience one step further, as you are going to need to factor insurance costs into your final purchase price It’s your purchase price plus enhancements that determine the amount of coverage underwriters will offer in coverage limit.

After you’ve consulted your NADA Guide and determined to purchase your boat, call W3 Insurance. While no NADA Guide exists for insurance coverage, we offer the next best resource: the counsel of our experienced marine advisors. We not only love the salt life ourselves; we specialize in insuring our clients so that they can enjoy it as well.

In addition to using the data found in your NADA Guide, you may also want to request a boat history report. If the craft has been damaged, you’ll know – and you’ll then be able to make an informed purchasing decision. Just as a car can be deemed a ‘lemon,’ so too can a marine vessel. The more data you uncover about the specific craft, the better.

Just as the NADA Guide offers peace of mind in the selling and purchasing process, so too does working with W3 Insurance offer assurance of proper protection. Stay safe out on the water – and know you’re insured. Consider W3 your marine partner. Contact us after you’ve used the NADA Guide and are ready for that maiden voyage.

Reaching us is easy – just call 727-522-7777 and ask to speak with a marine advisor. You can purchase a NADA Guide online and at select boating establishments.