Formula 502s High Hour Help
#1
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Joined: Jun 2019
Posts: 23
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From: Maine
I posted this on a formula page anticipating more of a response but got one response. Hoping I’ll have better luck here. Looking at a 96 382 SR1. Pristine condition. I mean I’ve never seen a formula this clean not a single rip and hardly any scratches. Only issue it has 900 hours on the original 502 MAG EFI. Boats never been beat on for the most part which is I’m assuming they have lasted so long without a refresh. Boat has been winterized for 3 years; owner is now paralyzed and can’t use. So If I buy I would be buying without hearing the motors run but he assures everything is fine and mechanic at marina stands behind it. What would you pay for a boat like this? Tri axle trailer included freshwater only. Is 27K a good deal? I’m going into it expecting to at least have to do the top ends (quoted 8500) and/also a refresh down the road (quoted 16kish) parts included by a local mechanic. Aside from whatever work it might need now I’m assuming raw water pump should be done and fluids since it’s been sitting for so long.
#2
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Joined: Aug 2002
Posts: 306
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From: Roanoke VA
Obviously there's a million unknowns but if it's in the kind of condition you describe I'd say 27K is a very good deal. 900hrs is a lot however. If it was me I'd be planning on doing a complete rebuild as soon as I bought it, or at least in the off season if it will run now.



