Introduction / Thoughts on Formula 382
 

Hey Everyone!

I've been looking to buy a high performance boat and think I finally decided on one. I've been lurking on OSO quite a bit in the process and figured it's about time I made an account, introduced myself and said thanks for all the help! I grew up in a family of boaters; I got a Yamaha jet boat when I was 16 and I've been sharing my dad's Doral 360SE Express Cruiser with him the last few years. I've hit the point where I'm ready to get my own boat again and I think the 382 fits what I am looking for perfectly.

It won't let me post a link to the boat I am moving forward with until I have 10 posts, so looks like I need to get a little more active and I can come back with a link. I have a deposit on it and I'm currently doing my diligence before ultimately pulling the trigger; I can still pull out at anytime if I find any major red flags. My biggest concern are the engines; the boat has 2 Mercruiser 500 EFI blue motors with 420 hours. I test drove the boat and they started very quickly and ran great, but I feel like the hours are getting up there a little, they are raw water cooled (it is a saltwater boat), and the owner has not had the top ends redone per the recommended service interval. I am getting the boat surveyed this week and provided the leak down and compression tests all come back up to spec I am going to move forward; the current owner is an 80 year old guy who's had the boat for the last 12 years, so thinking he probably didn't beat on them too hard.

Anyways, I'm posting here to see if there are any other red flags the experienced members of OSO know of / think I should look out for before I pull the trigger?

Thanks again for all the support during the selection process and looking forward to being part of the community!
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I dont know those boats, but plan on spending some money on the engines for piece of mind, scan the ecm's............. I just rebuilt a pair of 500 EFI that came from salt use and had to throw away 1 lower intake, 4 heads 2 thermostat housings 2 water pumps, but dont let that scare you.......never again lol

Apologies right up front because this is how bad rumors get started...

Didn't Formula have a problem with a bunch of hull / deck separations ? On 380 & 350 FasTechs ?

From what I (poorly) remember if the boat was repaired correctly it wasn't a problem, but the process was pretty involved and the key was "done properly" .

You might be able to contact Formula with the HIN and see if the boat was in the batch affected or the repair performed.

My advice on any boat, but especially a salt boat, would be to get a survey from a reputable surveyor.

Our boat is a salt boat and was meticulously maintained by the previous owner but salt gets everywhere and we've replaced a ton of trinket stuff.

Good Luck

d

Thanks for the note F-2! Kind of mixed signals here....don't let them scare me, or never again? haha
Either way, I am planning on them needing some maintenance, but would eventually like to look into converting them to antifreeze cooling (case and point being the 4 replacement heads you described above).

Slippery, I haven't seen any mention of any sort of hull / deck separations in my research, I will try to give Formula a call to see if they have any more information though. Regardless I am getting the boat surveyed (in process of scheduling that now) as well as getting the engines compression and lead down tested. As far as "trinkets" breaking......I don't think it'd really be boating if everything worked ALL the time :boat:

I am not technically adept, so I don't know if this link will work, but there are several threads on OSO and more info available if you do a "Google" search on the interweb.

My son was looking at a Formula a few years ago and stumbled across the issue .. IF memory serves It was something to do with the chemical bonding Formula used in addition to their mechanical hull / deck connection.I think part of the difficulty with correcting the issue was the bonding agent that failed had to be correctly- and completely - stripped, or the new goop wouldn't stick.

I think you're on the right track contacting Formula.

As far as "not being boating if everything worked all the time"...that is definitely the truth and that's the correct attitude...even on the rare occasion it's perfect, you won't be happy and will find something to tweak lol.

Good luck


teebee9320 is online now Report Post https://www.offshoreonly.com/forums/...​​

You can find a lot on this site just use the search function

https://www.offshoreonly.com/forums/...k-bonding.html

I'm in the F2 Speedy camp especially on a boat that old with a person that has not kept up the recommended service on a salt water boat..... just say no to old salt water boats! but I am not a fan on wrenching on boat engines down in the bilge but that's just me

Welcome to OSO!
A bit like 'Slippery', I don't want to dampen your enthusiasm or spread negative stories about nice boats but....

You've visited one thread on Fastechs with a build issue, have a look through the other well known thread here...
https://www.offshoreonly.com/forums/...r-chillin.html

Don't overreact and get pushed away from a Formula, these may be a couple of isolated examples where things weren't perfect. Just be aware and make sure the boat is fully checked over for these issues. Chances of a bad boat are slim but you can take a few precautionary measures.

That bit about 400 hours without full maintenance is a bit concerning, plenty of homework for you. :)

Good luck, hope you end up making the right decisions.

RR

I don’t think I would touch a 400hr saltwater boat unless you’re ready to drop in new motors/drives/transoms/rigging etc. A simple “top end refresh” can go down a rabbit hole quickly when you start finding everything that’s corroded.
Not trying to be a negative Nancy, it could be a well maintained boat, but saltwater has a way of slowly destroying stuff you can’t see until you start taking it apart. just make sure you’re getting it for the right price.

You state it’s a saltwater boat, but does it live in saltwater? If trailered or on a lift, and properly flushed and washed, it’s a completely different scenario.
I had a 382 Fastech on a lift in salt for 5 years, it looked better than a lot of fresh water boats half it’s age when I sold it. Have a leak down done, and check the run/rpm history if possible. I had 525s, not familiar with 500s as far as pulling info related to rpm vs hours.
The 382 is a great boat .
I had the hull/deck issue. Easy fix. I ran mine for two more years after I fixed it, without issue.
good Luck

Keep looking...
 

I owned a 382 for 10 years and many other boats over 30 plus years. I know all the good and bad of the 382 as I went over every inch of that boat. The hull/deck separation is real but can be fixed. If the rubrail is loose or coming off, you probably have the issue. Good maintenance is nice but salt eats everything but the fish. It's everything you can't see and a survey won't find that will come back and bite you in the wallet. You are looking at a project whether you realize it or not. There is nothing wrong with a project as long as you know up front that's what you are getting into. Budget the amount you are paying for the boat for the future.
I'm wrapping up one of these projects now. NEVER AGAIN!

Very well said....make sure you have the money to spend and are totally willing to go the whole way. As stated, this boat sounds like a major project. I suggest you keep looking and NOT settle on this boat unless you are getting it at a total steal. GOOD LUCK !!!

Thanks for sharing! I found that thread, but OSO wouldn't let me share since I have less than 10 posts. I grew up around old saltwater boats, so that's nothing new to me........it's the performance boat segment that I'm new to. Appreciate the commentary!

The thread Awash sent has all the info on the issue. It's labor intensive if the boat has this issue or needs it done in the future, but it sounds very doable. I'll obviously haggle hard on price or walk away if it has this problem currently. Thanks for sharing!


(sorry for the multiple edits, been a while since I've HTML'ed)

Thanks for sharing this one! Definitely doing my homework, getting a full survey done as well as compression and leakdown on the engines; that's also the reason for this thread =D

Thanks Bondo! It's on a lift and they claim they flush it after every use. Appreciate hearing from another 382 owner!

I recognize this boat is not a creampuff; if it was it'd easily be double the price. As I mentioned, I am no stranger to boating and I do recognize I am buying a 17 year old boat that has been used in saltwater. I saw the boat in person / went for a seat trial and was very happy with it and think the price I am paying is fair for the boat I saw / drove.

Wavery, I feel your pain on the projects. I'm glad I learned about the hull / deck rubrail issue otherwise I wouldn't have known to look for it. Salt eats everything on ANY boat, so that's not as much of a concern for me.....I have budgeted doing a motor (or maybe even 2) in the next few years....I obviously hope that they last a little longer than that, but not the end of the world if they don't.....I do not plan on re-rigging the whole boat though; I've seen it in person and do not think this is is necessary anytime soon though (I will obviously be keeping up with regular maintenance / fixing stuff as it breaks).


Now that I can post links, here's the actual boat:
https://www.popyachts.com/high-perfo...-jersey-189277


Thanks for all the feedback guys! Again, I am fully aware of the potential issues of buying a 17 year old saltwater boat and that is not my concern as much as the Formula 382 specific issues (e.g. the hull / deck bonding issue mentioned here).

It sounds like you have your homework done and are prepared I wish you the best of luck and hope it all works out for you!
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You have one more hurdle and that's POP Yachts yes I am biased in that I had a bad experience, as in if they were the last seller of the last boat on earth and it was worth a $100 and they wanted to sell it to me for 10 cents i'd say no thank you. If you can work directly with the owner your better off. This is my opinion based on my experience and YMMV and again I wish you the best with the purchase.

hey guys, just wanted to post an update. I ended up getting the boat! Had it for a few weeks now, but was just too busy to post....funny how the work I have to do to pay for the boat often precludes me from using it....either way I’m not complaining as I now own my dream boat!

So far very happy with it and excited to get a few more runs in this season before starting the projects this winter.

Thanks again for the advice on both this thread as well as my hours upon hours of lurking....definitely helped me get the right boat. Also I have nothing bad to say about POP Yachts following my purchase experience. My broker, Team Forde, was great and it was a relatively smooth transaction.

cheers!
Theo



https://cimg1.ibsrv.net/gimg/www.off...fd2edd205.jpeg
Wicked sunset
https://cimg0.ibsrv.net/gimg/www.off...b4da6f717.jpeg
First fill up
https://cimg2.ibsrv.net/gimg/www.off...45dd25e9a.jpeg
https://cimg3.ibsrv.net/gimg/www.off...21dd96b11.jpeg
Not a bad view

Yeah, a ripper sunset and the boat looks pretty damn nice too. 🙂
I hope you get a great run with new boat and as you've already found out, if you need help, there's plenty of guys on oso with a ton of knowledge and they're always willing to lend advice.

Congratulations Theo, I'm happy POP worked well for you.

RR.

Nice boat

Congrats on the new boat! It is always nice to hear of a happy ending to a boating story. I hope you have more time in the future to enjoy your new ride.

Hell yeah teebee9320 Thank you for sharing. Boat looks amazing....

Always thought those lightning Formulas were cool.

Thanks guys!