Like Tree0Likes

I was sold a salvaged boat without knowing

Closed Thread
Old 04-20-2011, 05:34 PM
  #1
Registered
Thread Starter
 
Join Date: Jun 2007
Location: Osage Beach, MO.
My Boats: 2003 Fountain 38 EC ..... 2010 Dodge Ram Cummins..... 2008 Dodge Ram Cummins..... 2005 Cadillac STS
Posts: 120
Default I was sold a salvaged boat without knowing

I bought my boat from a reputable dealer and later found out it was totaled when it was one year old. The dealer and I are unable to reach a settlement. Will my boat be worth much less now that I'll have to disclose it as salvaged if and when I sell it?
dodgeman111 is offline  
Old 04-20-2011, 05:37 PM
  #2
Platinum Member
Platinum Member
 
Chuck's Avatar
 
Join Date: Apr 2001
Location: Saratoga Springs, N.Y.
My Boats: None, but paid for one! Beware of Frisini / Sonic / Arrow Powerboats
Posts: 2,910
Thumbs down

Quote:
Originally Posted by dodgeman111 View Post
I bought my boat from a reputable dealer and later found out it was totaled when it was one year old. The dealer and I are unable to reach a settlement. Will my boat be worth much less now that I'll have to disclose it as salvaged if and when I sell it?
Definately
Chuck is offline  
Old 04-20-2011, 05:46 PM
  #3
Registered
Thread Starter
 
Join Date: Jun 2007
Location: Osage Beach, MO.
My Boats: 2003 Fountain 38 EC ..... 2010 Dodge Ram Cummins..... 2008 Dodge Ram Cummins..... 2005 Cadillac STS
Posts: 120
Default

I figured also. I"m investigating the cause of salvage and have found out interesting facts so far. It was stated when I bought that it was a one owner, freshwater boat. I found two owners so far and it was sold in Destin , Fl. IDK but they have a lot of saltwater down there.
dodgeman111 is offline  
Old 04-20-2011, 05:49 PM
  #4
Registered
 
Join Date: Apr 2010
Location: Lake Travis
My Boats: boatless
Posts: 724
Default

I wouldn't buy a salvaged boat.
Crossett is offline  
Old 04-20-2011, 05:57 PM
  #5
Registered
 
Nightlife1970's Avatar
 
Join Date: Feb 2006
Location: Decatur, Mi
My Boats: 1988 Baja 280 Force
Posts: 1,184
Default

A certain Dealer in Michigan sold a Wellcraft Portofino as a new boat. It had sunk before ever being sold. The customer found out about it, and pretty much had a free boat after the lawyers got done with the Marina.
Nightlife1970 is offline  
Old 04-20-2011, 06:06 PM
  #6
Registered
Thread Starter
 
Join Date: Jun 2007
Location: Osage Beach, MO.
My Boats: 2003 Fountain 38 EC ..... 2010 Dodge Ram Cummins..... 2008 Dodge Ram Cummins..... 2005 Cadillac STS
Posts: 120
Default

Wow that's crazy. I bought "as is" but I'm currently looking at my options.
dodgeman111 is offline  
Old 04-20-2011, 06:17 PM
  #7
KN
Registered
 
Join Date: Oct 2000
Location: Gorham, Maine
Posts: 862
Default

Does they State you bought the boat in Title boats?
KN is offline  
Old 04-20-2011, 06:20 PM
  #8
Registered
Thread Starter
 
Join Date: Jun 2007
Location: Osage Beach, MO.
My Boats: 2003 Fountain 38 EC ..... 2010 Dodge Ram Cummins..... 2008 Dodge Ram Cummins..... 2005 Cadillac STS
Posts: 120
Default

Illinois. I don't think so. I am registering with Coast Guard. The owner who traded it in had a clean title. I guess it was "washed" somewhere along the line.
dodgeman111 is offline  
Old 04-20-2011, 06:30 PM
  #9
Registered
 
Join Date: Oct 2009
Location: Freeport, IL
My Boats: 03 PowerQuest 300 Revenge
Posts: 286
Default

Quote:
Originally Posted by dodgeman111 View Post
Illinois. I don't think so. I am registering with Coast Guard. The owner who traded it in had a clean title. I guess it was "washed" somewhere along the line.
Was it financed?
If so banks do not loan on salvaged titles and they will kick the deal real quick! Even if it was washed let then in on what you know and they will take matters into their own hands, trust me. Because they don't want it any more than you do and probably less.

Also from a car dealer perspective "AS IS" does not mean salvage is ok and would have to be disclosed prior to sale or recourse could be sought.

I am in IL as well and I do believe they are titled, we did title work on both of ours, and the bank has it right now.
cpiefer06 is offline  
Old 04-20-2011, 06:40 PM
  #10
Registered
 
Join Date: Jul 2010
Posts: 175
Default

Quote:
Originally Posted by dodgeman111 View Post
Wow that's crazy. I bought "as is" but I'm currently looking at my options.
As was mentioned by cpiefer06, "AS IS" means a one owner, freshwater boat, which is how the boat was represented to you by the dealer. It does not mean a salvaged title, two-owner, saltwater boat. If you can't work it out amicably with the dealer, I would consult an attorney.
Esquire is offline  
Closed Thread



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 07:32 PM.


Copyright 2011 OffShoreOnly. All rights reserved.