Part Exchanging.

moresparks

moresparks

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Thinking about my next boat and a change of style now that I am retired, I dread putting my boat up for sale. An endless stream of partially interested buyers or buyers who have their own boat for sale first, often means a long drawn out process.
Whilst looking around at potential replacements I often come across adverts from brokers as “part exchange possible”.
So I am curious as to what types of deals are possible. Now I am at the lower end of the market so wondering if my sub 20K motor boat to be put up against a sub 50k boat - would I lose too much or should I just persevere in the usual advertising.
It just seems that some of the boats I am looking at are snapped up rather quick.
Has anybody got experience of part exchanging in my price bracket and is it worth it, bearing in mind I need as much as I can from my own, to fund the next boat?
 
If you think you can get £20k for your boat, it means you'll likely get £15-18k.
So will the dealer accept he has to prep it and warrant it.

So px he's going to want to pay £8-10k to make it work. That said, he may choose to offer you the £15-18k in lieu of discount On His £50k boat. He will then write the px back to a better stand in value by reducing the final price if the new boat.

The key figure here is cost to change. Don't expect to get retail for your boat and be able to chip his boat by £5-10k.
 
Whitelighter said:
The key figure here is cost to change
Click to expand...

couldn't agree more.

I used to sell cars back in my youth and one particular couple got very angry with me because once we had already agreed on a discount for their new car, they then threw their old rust bucket into the equation as p/ex and no matter how I tried to explain the figures and that "cost to change" was all that mattered, they kept arguing that another garage had offered them more but they couldn't see it that the other garage had used the discount on the new car to bump up the value of the p/ex car.

Put simply. Try and sell your old boat privately for the best deal and bargaining power on the new one

And good luck
 
Whitelighter... /Prima... Many thanks for that and to be honest I am not surprised.
Just that once you decide that you want to move on I have to appreciate it’s not always a quick process. Just a little fed up by folks wasting your time, having their own boat for sale first or offering a very low offer hoping you are desperate.
 
Well that's why dealers offer you so much less than full retail when you p/ex because they have to deal with the "tyre kickers" instead of you.

Try selling it privately to begin with, once you are truly fed up with the process, then p/ex it - that way at least you know you tried not to be a lazy so and so (just a joke), and you will hopefully feel better for throwing good money away ;)
 
I think that the replies from Whitelighter and Prima both assume that the P/Ex would be your boat to a dealer and a dealer owned boat to you. Whilst this is probably the norm, it is sometimes possible to arrange a part exchange through a broker. I have done this twice, admittedly for boats in a higher price bracket than the one you are in. In both cases, the other owner was wanting to trade down and in one case out of boating altogether but couldn't find a buyer with the necessary means. It worked well for me although you don't necessarily establish a real world value for your boat or the one you are buying. This may not be a bad thing!
 
moresparks said:
Thinking about my next boat and a change of style now that I am retired, I dread putting my boat up for sale. An endless stream of partially interested buyers or buyers who have their own boat for sale first, often means a long drawn out process.
Whilst looking around at potential replacements I often come across adverts from brokers as “part exchange possible”.
So I am curious as to what types of deals are possible. Now I am at the lower end of the market so wondering if my sub 20K motor boat to be put up against a sub 50k boat - would I lose too much or should I just persevere in the usual advertising.
It just seems that some of the boats I am looking at are snapped up rather quick.
Has anybody got experience of part exchanging in my price bracket and is it worth it, bearing in mind I need as much as I can from my own, to fund the next boat?
Click to expand...

What sort of boat is it?
 
It’s a 27 foot twin stern-drive petrol engine sports cruiser – yeah I know not the easiest things to shift these days.
It is fairly economical in comparison using 10 to 12 gallons an hour total at cruise, although its great fun zooming down the estuary at 30knots it can be heavy on the pension to use it every day - ha ha, hence the change of direction.
 
when I asked @ boats.co.uk they said you have to have vat receipt for them to take it even sub 50k
 
Also, presumably; you would have to pay to get your boat transported to the dealer and pay for the new boat to be transported to you.

If you sell privately, transportation of your old boat is the buyers problem...
 
Sell it privately and put up with all the grief.
As you have stated a petrol outdrive boat will not be on the most wanted list of any broker prepared to consider a P/X.
You are far more likely to find a private buyer who is willing to discover the joys of owning such a boat, probably pay cash and hopefully not go to the expense of messing with a survey.
Having been looking around in past and failed to get even a half decent P/X on my existing boat, would suggest that they will offer you something around 50% of your market valuation.
They have to take into account a initial visit to inspect your boat, possible survey, how long the boat will be sitting on site, advertising costs and the dreaded VAT into the equation.
Most of the folks I know have very reluctantly accepted some eye wateringly painful deals merely in order to get rid of an existing boat via P/X.Most at the upper end of the market with very sellable boat to trade in.
It is not cheap option.
 
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I completely agree with oldgit. At least try for a few months to sell it privately before you decide to p/ex it

Ask the dealer/broker roughly how much they would give you in p/ex, they will be reluctant to give you a valuation without seeing it, but if you explain that you plan to buy a new one with cash, then based upon the valuation they give you, you can then make a decision on what price to sell yours at privately, ie you will be able to sell it cheaper than other comparable boats on the market and still achieve a higher price than if you were to p/ex it

Hopefully that waffle is understandable, I know what I mean at least :-)
 
Ebay. very useful for discovering the real selling price of boats.
Recently a Fairline Corniche up at offers on 30K, well under the £50K and even more being asked on Brokers websites.
£15 pounds gets you a classified ad for 30 days, your boat would be an ideal fit for the Ebay market.You can also check what similar boats are going for and how long they take to sell.

Mention you are possibly interested in P/Xing to a larger diesel boat and wedge in as many pictures as you can, especially one or two underway if possible.
No phone number,contact by ebay messaging or email only.
Give as much detail as you can fit in on ad, this means when you get daft general questions you can say that all available details are in the add.

Indicate you are ONLY interested in a boat P/X upgrade and nothing else........
 
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Many thanks for all your replies it is appreciated – just have to be more patient.
If I am honest with myself it’s what I expected, just getting a little fed up with a constant stream of “tyre kickers” or those that want a free ride out.
I guess I was a little disappointed that a couple of boats in my price range that do not come on the market very often went very quickly and the agencies did have them as “part exchanging”.
I must admit I have not tried Ebay, so I will look into that.
Thanks again.
 
Ebay is the answer, i put my previous sea ray on there with no reserve, starting bids of something like 1k, it sold for 12k in the end. I had previously estimated it should have been worth 15k,and that was the price i advertised it at on various other for sale sites ( had several offers of around 9k from people who saw it on the various for sale sites,but that was too low for me to accept) ,but i was happy enough with 12k.

I had a few jokers ,timewasters and dreamers,but thats just something you have to put up with when selling anything on the internet.
 
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