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Formula 311 buyers beware

Old 09-21-2017, 10:09 PM
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Default Formula 311 buyers beware

Hey all! I have been looking for a SR1 style Formula for about a year+ and I stumbled on a BEAUTIFUL 1986 (rounded windshield style) Formula 311 with KAAMA Surface Drives (can you say Rooster Tail) a few months ago! I worked out a deal with a dealer in MI.
Of course the sale was contingent on a survey, so I hired a really reputable surveyor in the area that the dealer actually knew and trusted. So, I consummated the deal and had the surveyor survey the boat; so excited to get my new to me Formula! Well, come
to find out, the surveyor calls me to tell me the hull has SERIOUS delamination issues under the gas tank area and also that the TRANSOM was repaired before (substandard) and will need to be tended to soon. So, of course, I cancelled the transaction based on the
survey. HOWEVER, later, on a desperate search for another fresh water Formula, I found the same, exact boat listed for AUCTION at an auction site in MI. So, of course being a beautiful example of a Formula, it sells at auction for all the money. NOW, it is for sale in MI at a dealer for BIG $$.
The reason I am posting this is to make sure that any prospective older Formula 311 buyer sees this boat better have a survey done on this boat and does his/her due diligence on the beautiful vessel before they realize later that in addition to the initial sales price, plus tax title dealer fee and registration, they will need to have the stringers under the gas tank done and the transom done before they should use the boat safely.
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Old 09-22-2017, 07:08 AM
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Any pictures of this "beauty"?
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Old 09-22-2017, 12:42 PM
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Originally Posted by formula1 View Post
Hey all! I have been looking for a SR1 style Formula for about a year+ and I stumbled on a BEAUTIFUL 1986 (rounded windshield style) Formula 311 with KAAMA Surface Drives (can you say Rooster Tail) a few months ago! I worked out a deal with a dealer in MI.
Of course the sale was contingent on a survey, so I hired a really reputable surveyor in the area that the dealer actually knew and trusted. So, I consummated the deal and had the surveyor survey the boat; so excited to get my new to me Formula! Well, come
to find out, the surveyor calls me to tell me the hull has SERIOUS delamination issues under the gas tank area and also that the TRANSOM was repaired before (substandard) and will need to be tended to soon. So, of course, I cancelled the transaction based on the
survey. HOWEVER, later, on a desperate search for another fresh water Formula, I found the same, exact boat listed for AUCTION at an auction site in MI. So, of course being a beautiful example of a Formula, it sells at auction for all the money. NOW, it is for sale in MI at a dealer for BIG $$.
The reason I am posting this is to make sure that any prospective older Formula 311 buyer sees this boat better have a survey done on this boat and does his/her due diligence on the beautiful vessel before they realize later that in addition to the initial sales price, plus tax title dealer fee and registration, they will need to have the stringers under the gas tank done and the transom done before they should use the boat safely.

I have a 1993 336 Formula I will cut you a good deal on. Boat is very clean, port motor needs oil cooler and already bought fuel pump for starboard. Private message me if interested.
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Old 09-22-2017, 05:10 PM
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Originally Posted by formula1 View Post
Hey all! I have been looking for a SR1 style Formula for about a year+ and I stumbled on a BEAUTIFUL 1986 (rounded windshield style) Formula 311 with KAAMA Surface Drives (can you say Rooster Tail) a few months ago! I worked out a deal with a dealer in MI.
Of course the sale was contingent on a survey, so I hired a really reputable surveyor in the area that the dealer actually knew and trusted. So, I consummated the deal and had the surveyor survey the boat; so excited to get my new to me Formula! Well, come
to find out, the surveyor calls me to tell me the hull has SERIOUS delamination issues under the gas tank area and also that the TRANSOM was repaired before (substandard) and will need to be tended to soon. So, of course, I cancelled the transaction based on the
survey. HOWEVER, later, on a desperate search for another fresh water Formula, I found the same, exact boat listed for AUCTION at an auction site in MI. So, of course being a beautiful example of a Formula, it sells at auction for all the money. NOW, it is for sale in MI at a dealer for BIG $$.
The reason I am posting this is to make sure that any prospective older Formula 311 buyer sees this boat better have a survey done on this boat and does his/her due diligence on the beautiful vessel before they realize later that in addition to the initial sales price, plus tax title dealer fee and registration, they will need to have the stringers under the gas tank done and the transom done before they should use the boat safely.
I saw it on the auction Steve but have no idea where it went.
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Old 09-23-2017, 10:50 AM
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Originally Posted by Car Biz View Post
I saw it on the auction Steve but have no idea where it went.
It went to a dealer in St Joseph, MI. It's on Boat Trader for $27,495 !!
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Old 09-23-2017, 10:55 AM
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Originally Posted by CBlakeNS View Post
I have a 1993 336 Formula I will cut you a good deal on. Boat is very clean, port motor needs oil cooler and already bought fuel pump for starboard. Private message me if interested.
Sent you a PM
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Old 09-25-2017, 11:06 AM
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I was just looking at that on boat trader, it's a shame people with junk try to **** over others.
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Old 09-26-2017, 07:09 PM
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What gets me is wouldn't a dealer want to cover his a## and check the boat out himself really good, since they are supposed to be the "professionals" before they put it on the market to protect their reputation?

I worked at a boat dealership for years. We would NEVER sell a boat without thoroughly checking it out. If there were serious problems, it got wholesaled if we didn't want to fix it.
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Old 09-26-2017, 07:37 PM
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All "professional" means is they're gettin' paid for what they're doin'...
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Old 09-26-2017, 07:39 PM
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Marine and honesty shouldn't be in the same sentence. ��
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