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Old 02-04-2019, 09:19   #1
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Join Date: Apr 2019
Location: Sarasota, Florida
Boat: 1983 Bristol Channel Cutter 28
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Alternate Value to NADA book of 1979 BCC28?

I'm looking at my credit union to obtain a personal loan on a 1979 Bristol Channel Cutter 28'. When the loan officer looked up the value of the boat (merely as collateral), they only use NADA values, and NADA doesn't even HAVE a 1979 BCC28. They have a 27' (27.7') and a 30' (29.9).

I know the boat exists and I can see the details on the purchase agreement. I've also seen other same or similar boats for sale online at same or higher pricing. Any alternative to getting an accurate value? I'm having the boat surveyed/appraised before buying, but I don't think the credit union will accept that as the basis.

Thoughts and advice?
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Old 02-04-2019, 10:47   #2
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Re: Alternate Value to NADA book of 1979 BCC28?

27.7 rounds to 28. Tell them that.
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Old 18-04-2019, 05:24   #3
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Re: Alternate Value to NADA book of 1979 BCC28?

First, don't assume anything. Ask questions, what will they accept. Will they accept your surveyor's appraisal and paperwork? They should. I went through Navy Federal to obtain our boat and she is an old gal. They did accept the surveys appraisal and paperwork.
Good luck on your purchase and congratulations. :-)
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