New Member - New Used Boat Purchase Question

[bottman]

I've been following your forum for quite some time, so an initial thanks is in order for pointers gained from high and low level reading!

I have been looking at Yamaha jetboats for quite some time, going back and forth over New v Used.

Getting pre-approved for a used boat loan, I am leaning that direction. After a few weeks of searching, viewing & inspecting... I landed on a 2007 AR230 HO with a claimed 220+/- hours on the engines, and a recent overhaul on the starboard engine.

They are asking 23k and I have given it a physical once over, but am unable to test drive until I show a "good faith effort" by having cash/check in hand. I cannot say I blame them if every walk-up customer wants to test drive a boat and never return, they would waste an enormous amount of man/woman-hours.

I was just sent this from the dealership in response to my inquires:
"The compression ranges 200 - 205. The diagnostic cannot be printed out on this system, we would have to hook it up to the boat and show you here.

The engine was basically rebuild. replaced gaskets, o rings, piston, cylinder gasket, exhaust gasket, cylinder hood was repaired."

The V-Hull has the usual wear and scarring from beaching the boat and there does seam to be a small nail size hole but it does not look like it's thru the fiberglass. I plan to seal the V and slap one of those ~$125-175 V protectors I have seen on some of the boats I looked at.

Aside from the typo/grammatical error from the dealer... what is some seasoned buyers/owners position on the engine work, compression, price range (as I plan to offer less given Hull Damage and my concerns about the engine needing an overhaul) and a report of about 220 hours of all fresh-water usage.

Again, thank everyone for their comments, the fantastic guides and general awesome atmosphere here at JB.

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bottman

 

[BoaterGuy]

Im going to go out on limb here, but I would be cautious about buying a boat with a rebuilt engine at only 220 hours. I think they are supposed to last longer than that. This fact may be a telltale sign of abuse or neglect by the previous owner.

Someone with an older boat can chime in on their thoughts. I sure hope I dont have to rebuild my engines after only 200 hours!

 

[MikeyL]

@bottman ........ Welcome here !
Check your Messages. I just replied to you.
Glad you're here with us. Sincere Best Wishes, Mikey Lulejian - Lake Oconee, GA

 

[RightStuff]

I agree with Rob on this one, that engine rebuild is a pretty big red flag. Its good that they were up front about that history, I'll give them that... But having no idea what caused it would bother me and I would walk away from that one. There are a lot more boats out there, don't settle on one that has had that past...

Buying a used boat is just like any other used vehicle purchase. You try to get as much info out of the seller as possible to mitigate any of your future risk with it. Based on the info you get/see that, to me, determines the price you are personally willing to pay for the vehicle. So if it's worth it to you at that price knowing that info you should move forward. Good luck!

 

[jlcj7]

I agree with everyone else. move on to another one

 

[bottman]

Many thanks all. It's why I figured I would ask. Help me over the cusp of any reservations!

Thanks again,

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bottman

 

[Julian]

Or negotiate really hard with them and get the price down hugely so if there is a problem you have $ to fix it.....(except that if you are getting a loan you wouldn't have the money on hand).

 

[bottman]

Well... That is where I had some reservations still...

Got pre-approved for what I asked for, 25k and I have the usual 20% in hand, and the loan terms did not require a down payment. So while I do have roughly an extra 5k stilling in my 'boat' savings account... I was not sure if that was a gamble worth taking.

Sounds like it would pan out to be a night at the craps table... it's either going to be 'crap' or 'jackpot'

Engine has a 90 day, but the rest of the boat, while one of the better looking and kept used AR210/230 or SX210/230 I have come across, is still defaulting back to the term I have always heard when it comes to boat ownership 'bust out another thousand!'

Thanks!

 

[Scottintexas]

I would move on, $25k for an 07' with a questionable past isn't worth the gamble.

Where are you located? update your profile maybe there is a member near by with a YDS that could read the hours for you?

 

[bottman]

Dealer is going to pull them when I get back up there next, rather is willing to pull them.

MikeyL seems to be pretty close by to my area and seems to of located a deal.

LOL... I should of joined when I started my search!

 

[Murf'n'surf]

@MikeyL knows a good dealer in his area. He will do ya right.

 

[subysti]

If one engine needed rebuilding, when will the other one? especially if they were neglected. Keep looking

 

[BravoMike]

I am far from an expert, but based on what you know, I would pass and keep looking. Somebody earlier said there are a lot of good used boats out there and I agree. Keep looking.

 

[bottman]

The search continues. MikeyL has graciously put me in touch with his reputable dealer (closer to me any ways) and I look forward to washing my hands of that potential money-pit...

Thanks!

 

[Scottintexas]

@bottman

just an example but here's an 08 for 25k
http://dallas.craigslist.org/ftw/boa/4938969712.html

 

[bottman]

Sweet. Hook it to that Dually Tow Rig, and bring it on over to Georgia! A case of beer awaits for your time & effort.

Mike has put me in touch with his dealer which is only 90 minutes from me and I am looking at a newer model. Hopefully I will be back on the water soon... should know something today or tomorrow.

 

[Keith Andoos]

A re-build at 220 hours??? This boat was abused. And what kind of a seller will not let you do a test drive? RUN, DON'T WALK, as far away from this deal as possible!!!!!!

 

[MikeyL]

UPDATE as of last Wednesday when we last spoke:
He did not purchase this boat.
He purchased a relatively newer 242 @ a very good price, from the original selling (and servicing) dealer.
It came with remaining factory warranty, a really great condition mooring cover, and a brand spanking new 0.0001 hour NEW engine (1 of 2).
He's all good, has put a bunch of hours on his new lovely beast, and is grateful to the forum for helping him to not make a mistake.