Hi Everyone! I've decided on a 382. I think for my needs, it would be the best overall boat. It's fast enough for me, seems to have a good ride, is very well built, hits my budget, and has a roomy enough cabin for overnights.

I have a few leads for some for sale. One is an SR-1 with 502 "blacks." The boat is in excellent condition, and at a reasonable price.

The second is a 382 FasTech with 502 "blacks." This boat is about $20k more and is also in excellent condition.

Do you think the extra $20k for the FasTech is worth it? I do like that it does not have wood stringers, which eliminates potential for stringer wood rot. I know the FasTech is about 6-9 mph faster on the same engines. My priority is keeping maintenance as low as possible, so the biggest benefit would be the composite structure, and elimination of the wood besides the Transom.

I've read that the SR-1 has an arguably nicer ride and handling. Speed is a lower priority for me, so I don't mind sacrificing a few MPH. As I stated, my biggest priority is reliability and low maintenance costs.

With that being said, I'm scoping my search to boats with "black" engines as I've heard they last longer than "blues." Is this true, or are the "blues" just as reliable? Thanks!

In my opinion The blue engines need uppers replaces/ valve train.There is nothing wrong with the black stuff at all. I would go the xtra 20k and get the newer one with the composite if that is in fact what it has. Newer one sounds like is is more maintenance free if there is such a thing in the boating world.

There was an issue with some formulas that the stringers and deck came unbonded. Was a huge/ costly issue. I'm not to up on the problem, but it was discussed on this site in great detail. Do a search for it.

I once owned a 382 with "built" motors......absolutely loved the boat. The black 502mags will burn a little oil but they did when brand new. Keep an eye on oil level and they will run almost forever.

FWIW: a buddy in Hopewell VA is selling his 1998-2000? for $72K and it's immaculate.

I came here to say this. His name is Joey, and either Russ/t500hps or I can get his number for you. He goes back and forth on selling it, and his ad is currently not active. But he'll take a call on it.
The boat is here in Virginia, stored under cover on the trailer, and you won't find one cleaner. He won best appearing boat at Poker Run not too far back, and that was over new $7-figure boats that were in attendance.

1998 Formula 382 FasTech
HP500 Mercury Racing motors (carb I think, not EFI)
$72,500

You may want to lower your expectations on any old/used boat.

Buy the newest one you can. Age is a factor on ALL of these performance a boats regardless of condition. Survey...survey....survey. It's worth the coin.

I had an sr1 but would really go stepped hull
sr1 felt heavy and slow at 62 mph with 485 hp

nice boats for sure!

I owned an SR-1 hull on a 311 and the stepped 353 FasTech and I would never go back to the SR-1 hull, even though I loved that boat too when I had it. The FasTech stepped hull is just so much more agile, faster and fun to drive... It's definitely worth the extra money IMO.

Check transom.

This is the exact feedback I was looking for. Thank you all so much. Unfortunately the FasTech I was looking for just sold, so the search continues. Thank you again!