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Random Quote: I feel dumber now than I did before you said that!
My Neighbor just purcahsed a 23' walkaround. The boat is a 2007, with twin Yamaha 115. They have 16 hours with factory warranities until 2014. The boat was half of what a new one would cost.
He had the boat checked out at his cost. This is when he found out about the extrended warranties. It was a great deal.
My Neighbor just purcahsed a 23' walkaround. The boat is a 2007, with twin Yamaha 115. They have 16 hours with factory warranities until 2014. The boat was half of what a new one would cost.
He had the boat checked out at his cost. This is when he found out about the extrended warranties. It was a great deal.
Was this through an auction or directly through a bank or dealer?
__________________ 2003 Sea Pro 220 CC
2003 Yamaha 200 HPDI
2009 Ace Dual Axle Trailer
I sell boats that a bank has re-poed. Think of it this way:
* the boat was owned by a person, and is now owned by a bank. Big deal...
* a buyer doesn't have to deal with a disgruntled or desperate seller. No emotion...
* a bank doesn't think that any offer is an insult
* a bank doesn't care what the market price of a boat is. Offers get a Yes or a No.
* a bank won't make up stories or try to hide anything (at least our bank won't)
OTOH, I've called National Liquidators 7 times, got a salesman once, and never got any answers that weren't vague. These might be the types of sellers that give repos a less-than-stellar reputation.
__________________ Rick
Alabama's Gulf Coast
Chaparral 240 Signature (Sold)
Bunk the bank won't make up stories or try to hide anything. No they just say nothing because they know nothing about the boat. Nothing wrong with a repo; but don't think for a moment they are not abused. Sunk, no maintenance, run hard knowing the repo man is coming. By the way how can you tell if a boat salesman is lying? His lips are moving. I had a neighbor who buys repo boats. He fixes them up and sells them to unsuspecting fools. Most were in bad shape. I would not touch one if you can't do a seatrial.
Just like buying any boat, have to look it over, do a compression check, and check the oil in the motor and drive.
Some great deals on boats right now, i wish i had the money to lay down on a 2 year old boat, but collage for the kids, is higher on the list then a new to me boat.
Good luck on your search.
__________________ Be good, be happy, for tomorrow is promised to no man.
My dad just bought a 21ft Clearwater with a Yamaha 150 for $18,500 from a bank - with trailer. It had never been titled (basically, it was repo'ed from a dealer that had it on the floor plan).
I went and looked at it with him and gave him the thumbs up. It was dirty but otherwise new.
I thought it was a great deal.
__________________ YZF Pilot
Cabo 32 Express
Glacier Bay 2680
Glacier Bay 2665
I think the biggest issue with a repoed boat would be deferred maintainance. When someone realizes they really can't afford thier boat, often long before they get behind on payments, maintainence starts getting skimped on. Frozen pumps, corrosion, crummy jury rig repairs, and then a boat that sits and sits. I'd expect it to be in somewhat worse condition than a typical sale, but the price should reflect that.
I bought a repo for half price without even starting the engine - I was told it fired right up by the guy storing the boat for the bank. I figured I could trust him because he did not have a vested interest in wether or not the boat sold. Best decision I could have made. The boat had the full engine warranty and it has been great - will definety go the repo/used route for the next one.
OTOH, I've called National Liquidators 7 times, got a salesman once, and never got any answers that weren't vague. These might be the types of sellers that give repos a less-than-stellar reputation.[/quote]
i agree about national liquidators, called them on a couple of boats and just get the run around. BTW does anyone know a good place to call in the mobile area for repo boats, im in the market for a 21 cc center console and i have about 25k i can spend on it.
I think the biggest issue with a repoed boat would be deferred maintainance. When someone realizes they really can't afford thier boat, often long before they get behind on payments, maintainence starts getting skimped on. Frozen pumps, corrosion, crummy jury rig repairs, and then a boat that sits and sits. I'd expect it to be in somewhat worse condition than a typical sale, but the price should reflect that.
I have to agree with TopCat. Repo could be a great deal, but you should to do your homework diligently.
OTOH, I've called National Liquidators 7 times, got a salesman once, and never got any answers that weren't vague. These might be the types of sellers that give repos a less-than-stellar reputation.
i agree about national liquidators, called them on a couple of boats and just get the run around. BTW does anyone know a good place to call in the mobile area for repo boats, im in the market for a 21 cc center console and i have about 25k i can spend on it.[/quote]Natioal Liquidators sells more boats than anyone in the US, they are busy because of the current market situiation. Their inventory changes daily.
__________________ 2004 Pathfinder Tournament edition 22ft, VMAX 250hp, digital minn kota TM, custom tee top, Humminbird 997Csi
Bought my boat last November, was a repo and had 86 hrs on the motor. Got a great deal and have been thrilled with the boat ever since
__________________ Tony
"LuredAway" a 19' Palm Beach 135 Merc
"LuredAway Again" a 23'Key West/Yami 250-4 stroke
The only person that doesnt make a mistake is a person that doesn't do anything
As with any used boat, it doesn't matter what the brand is you have to look at it carefully and accept the fact that when buying a used boat there maybe things you will want to change or other routine maintenance jobs to do like changing out pumps that will have to be done. I've looked at a number of used boats and the biggest thing I saw with repo's was that the electronics had been stripped and not always skillfully or professionally or they had just been let to sit and get dirty and moldy. If you find some thing you really like surveys pay in this case. On the other hand I’ve seen like new and brand new boats that were repo’s too.
I looked at several Repo's, including a couple at National Liquidators. I ended up buying a new untitled repo from a bank. I have to admit banks are easier to deal with, they can be reasoned with, but you have to do your due diligence on the boat and know exactly what you are getting and how much it will cost to make right.
From my experience, used repos can be very good deals. But expect them to be completely neglected for a few years. Almost all of the ones I looked at were. If the owner can't afford the payments, he can't afford to maintain it or probably even run it.
I found that many repo's were missing significant items. TVs, stereos, electronics, generators, etc. Stuff that could be ripped out when the owner knows the repo man is coming and they need something of value to sell for cash.
But they can be good deals. I made an offer on a 2005 Proline 32 Express at National Liquidators. It was missing the generator and electronics, but had a minimum bid of $42K. I bid just above the minimum and offered to pay in cash. With repairs, a new gen, and transport I'd probably have $60K in it. It would have been an $80-90K boat cleaned up. The bank accepted my offer but the trailer that was supposed to come with it ended up missing -- I guess the owner was playing hide the trailer from the bank. National was helpful and tried to find me another trailer, but it would take a few weeks. I waited a while and then decided to move on.
Turned out even better as I found a brand new dealer repo, never titled, 2006 32' Century WA with 1.5 hours on the engines at a liquidator in Destin, FL. I made the bank a pretty low offer but agreed to fly out to inspect it, run it, and wire them the money within a couple days. It looked like a brand new boat, was spotless, everything worked, and at 1.5-1.6mpg cruise it was WAY more fuel efficient than the proline. Plus I liked the layout a lot better. And warranties on it. So I got a brand new boat for $40-50K less than used ones are listed at, and $100K less than new ones went for a year or so ago.
I couldn't be happier with the boat, and especially what I have invested in it. No way I'd buy a "new" boat in this market. Went to the boat show last weekend and while it seemed dealers have realized this is a buyers market there wasn't a single boat I'd trade mine for at even twice the price I paid.
-Dave
'06 Century 3200 WA F250s, aka "SuperFishal"
__________________
-Dave
'06 Century 3200WA, F250s, aka "SuperFishal"
'02 Mitzi Skiffs 15, Yamaha 40hp
Padre Isles, TX
Repo Boats 
