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Has anyone bought a repo'd boat
I was looking at a 02 baja 25 outlaw that is a bank repo and was wondering if any else has bought a repo before and if so what was the outcome. The boat looks in good condition from the pics I havent seen it in person yet. It has a 496 mag ho b1 drive 4 blade bravo 1 prop and a custom eagle trailer. Thanks for your help
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Originally Posted by lipps
(Post 3409925)
I was looking at a 02 baja 25 outlaw that is a bank repo and was wondering if any else has bought a repo before and if so what was the outcome. The boat looks in good condition from the pics I havent seen it in person yet. It has a 496 mag ho b1 drive 4 blade bravo 1 prop and a custom eagle trailer. Thanks for your help
When I received it here I had to have a trailer built, but I knew that going in. I also took it to a Mercruiser service place for a full service and inspection. It had just under 200 hours and there was some wear in the drives, needed a few bearings, etc. But no big surprises. I would not be afraid to go that route again, but the trick is you have to be able to buy it right so you have some wiggle room. You can figure that if the previous owner lost it he probably wasn't spending money on maintenance at the end. |
I have bought 2 repoed boats and everything went perfect and the boats were great. The place I bought it from took care of any issues with the boat.
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I got my current Formula from a guy that did a mechanics lean on it. Was a crazy deal that worked out well for me because I had most of the missing parts.
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I've bought a number of them. Private sellers can make up all kinds of stories to make you feel better about the boat......but could by lying. A repo broker is going to tell you he doesn't know anything about the boat (the truth) so you get un-easy and do your own research.
The reality is the private seller is more likely to screw you over than the repo broker. |
My boat was a repo and had been partially striped. The dealer put it back together for the most part, the only problem I had was the gas going bad from sitting to long. I took it for a long test drive and had a survey done.
You should do the same to any used boat you are considering purchasing, repo or not. |
I've bought many repos, just do your homework 1st and get a survey, and machnical inspection, so you know exactly what you are getting into.
Dean |
A you sure it is a good deal? The reason I ask is because I shopped for over a year for a good deal on a repo boat using the liquidation houses online. My friend got a great deal on a boat 3 years ago that was a repo......however, here is what I found.
Boats are almost always missing the accessories like mooring covers, bimini's, props, batteries, stereos. You will prob never find one with fenders, ropes, coast gaurd equipment. Might not sound like a big deal, but you have to factor that into the price. The boats I looked at sat outside for at least a few months without covers, interior was filthy. Good think yours has a trailer, most do not include trailer unless they are cats. I have seen repo sites advertising the boat sitting on the custom trailer made for it but state in the ad the trailer is not included or available.....wtf are they doing with the trailers? IMO when I factored all of these things in, plus repairs on some the deals are no longer deals. 5 years ago when go fast boats were selling at a premium there were real deals on repos. I agree a private seller may have something to hide, however when you look at a used boat it is easy to tell if the owner took good care of it. Not only the boat, but look at his garage and yard....attention to detail. Make sure you search boattrader, oso, and iboats for a similar boat before you buy. |
We bought a 35 Donzi from Shogren last year firts we flew up and looked at the boat,. found some minor scratches but the rest was good. Deal went easy and we are happy, the good part is we could probly sell the boat today for what we payed for it.
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Originally Posted by 4bus
(Post 3410059)
A you sure it is a good deal? The reason I ask is because I shopped for over a year for a good deal on a repo boat using the liquidation houses online. My friend got a great deal on a boat 3 years ago that was a repo......however, here is what I found.
Boats are almost always missing the accessories like mooring covers, bimini's, props, batteries, stereos. You will prob never find one with fenders, ropes, coast gaurd equipment. Might not sound like a big deal, but you have to factor that into the price. The boats I looked at sat outside for at least a few months without covers, interior was filthy. Good think yours has a trailer, most do not include trailer unless they are cats. I have seen repo sites advertising the boat sitting on the custom trailer made for it but state in the ad the trailer is not included or available.....wtf are they doing with the trailers? IMO when I factored all of these things in, plus repairs on some the deals are no longer deals. 5 years ago when go fast boats were selling at a premium there were real deals on repos. I agree a private seller may have something to hide, however when you look at a used boat it is easy to tell if the owner took good care of it. Not only the boat, but look at his garage and yard....attention to detail. Make sure you search boattrader, oso, and iboats for a similar boat before you buy. |
Go for it I purchased my 98 25 Outlaw in Jax. Fla. with 2002 tandem axle trailer no motor or outdrive. I would do it again.
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Thanks for all the help. I did some checking and it turns out I know someone who knows the boat and it does need some work a global bearing ,tune up ,sea pump. It also shows 937 hrs on the hr meter. Other than that the gel coat and interior is in great shape they are asking 28,000.00 for this boat .
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Originally Posted by lipps
(Post 3410391)
Thanks for all the help. I did some checking and it turns out I know someone who knows the boat and it does need some work a global bearing ,tune up ,sea pump. It also shows 937 hrs on the hr meter. Other than that the gel coat and interior is in great shape they are asking 28,000.00 for this boat .
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Originally Posted by lipps
(Post 3410391)
Thanks for all the help. I did some checking and it turns out I know someone who knows the boat and it does need some work a global bearing ,tune up ,sea pump. It also shows 937 hrs on the hr meter. Other than that the gel coat and interior is in great shape they are asking 28,000.00 for this boat .
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Originally Posted by lipps
(Post 3410391)
Thanks for all the help. I did some checking and it turns out I know someone who knows the boat and it does need some work a global bearing ,tune up ,sea pump. It also shows 937 hrs on the hr meter. Other than that the gel coat and interior is in great shape they are asking 28,000.00 for this boat .
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Have the computer scanned, and then if you like it offer them 14K
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My first boat was a repo. It was a great boat for us. I sold it for what I paid for it after 2 years of use. The condition will vary.
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WAYYYY too high for the make, size and power.
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Where is DollaBill? :evilb:
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chances are the key was left on until the battery died w that many hours---just a though
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All my boats are repo's!
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Let me give you the best advise on buying a repo. Assume everything is either broken or about to break. Ask what comes with the boat and have them put it in writing, trailer, gear, everything. Dont assume you are getting a new boat at a repo price! you are getting a boat someone else financed new and they fell short, possibly stripped it or swapped parts before losing it. VERY few people are wiping there boat with a diaper when they hand the repo man the keys and say "Get as much as you can for it"! So assume the very worst, make your offer based on that, and enjoy!
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Originally Posted by IDRPSTF
(Post 3410703)
Let me give you the best advise on buying a repo. Assume everything is either broken or about to break. Ask what comes with the boat and have them put it in writing, trailer, gear, everything. Dont assume you are getting a new boat at a repo price! you are getting a boat someone else financed new and they fell short, possibly stripped it or swapped parts before losing it. VERY few people are wiping there boat with a diaper when they hand the repo man the keys and say "Get as much as you can for it"! So assume the very worst, make your offer based on that, and enjoy!
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Thanks for all the input, I decided to pass on it, plus I would rather have something bigger looks like the cockpit might be a little tight for me the wife and kids plus my dog. There are a lot if deals out there now so I will keep looking .
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my current boat, a velocity 260, was a repo that had been bounced from broker to broker. i bought it based on pics alone and had it shrink wrapped and shipped from Vegas to my driveway in Michigan. The interior was badley faded, but all the pics showed that. I took a gamble and bought it wihout a survey. As it turned out my gamble payed off. I paid $20k for the boat, aluminum trailer, shrinkwrap, and transport. It is an 03 Velocity 260 w/496 mag. Current blue book on the boat alone is low to mid 30s...... Mechanically ir was/is solid. it hada merc speedmaster lower that I removed and replaced with a stock bravo and actually ended up almost a grand. So far I have added trim tabs and am in process of having new interior done. So I am about 24k into a low to mid 30s boat. I'd say I did pretty well.
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The high performance boat liquidators are:
National Liquidators (Both Coasts)- Tyce Sailor is a straight shooter Long Beach Yacht Sales (3 locations in CA)- Ray Jones Commonwealth Boat Brokers (VA and satalite offices)- Harper King I have personal dealings with all three. Dont buy based on a survey, spend the $$$, fly out, look at the boat and make your own descision. Surveyors are not placing there family on the boat and running offshore... you are! nobody will spend more time or look as close as the person paying for the boat |
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