Concerns of buying a repo boat

Was wondering if anyone has bought a repo'd boat before and/or if there are any issues I should look for.

Feedback welcome.

T

Yea, many times their beat up or have been stripped. Usually they will have a day before the auction when you can go check out the boats. The auction site itself will do some basic checking it out & run a compression test. Plus they usually have a policy on what the acceptable condition of the vehicle is. If it proves to have a cracked block that was not found in the inspection, then they have ways of making it right. But things like missing stereos, ripped up upholstery, or snow sitting in the boat, is all too common. If your looking for a perfect boat, it's probably best you look elsewhere. Most repos will need a few things to make them perfect.

do you mean dealer repo or used boat repo?

Yeah what Ian says. What Bill says is not entirely true at all. You see a mixed bag of boats and they are what they are. Some are in mint great condition and others have been abused. Some are dealer repos, some are consumer repos. Just like some owners on here. Some people take better care of their boats.
Just really depends on the boat. Have seen boats that are 4 years old with 20 hours on them that look like they never left the garage. I think many of them are that way... They are the people that realize they are upside down on their boat and just give it back to the bank. That usually happens early in the ownership cycle and not later.
So to sum it all up I think you see perfect boats and trashed boats. Go and inspect and you will be able to tell how the boat was cared for. Great way to get a good deal on a boat.

Thanks for the feedback thus far.

More detail: boat in question was bought via an auction by a dealer. compression check done, etc. Seems in very good shape, not stripped, no visible damage, boat is complete.

Bill - clarification on your point of "if a cracked block...making it right". Would that hold true for say me who buys the boat from a re-seller who got it at auction?

Thanks again

T

Trevor, I've purchased 3 boats at repo auction in the past 6 months. I've had really good luck with them. Yeah, some of are pretty beat up. But all of them so far have been what I expected them to be. You can tell if the stereo or amps are missing. You can tell if the boat is thoroughly trashed or just needs to be cleaned. I'm not suggesting that the hidden lemons aren't there, but as long as you inspect the boat yourself and it checks out...I wouldn't be afraid of it. The boat I ended up keeping is filthy, and I mean filthy. It came from Utah and I believe they have a lot of that red dirt. But I've started cleaning small sections of my boat and it is a really nice boat underneath the filth. And I've lake tested it already and everything is running smooth. Do your due diligence and if there is a deal on a repo, I say pick it up.

As far as the "cracked block" issue. The dealer who I purchased from said the same thing. If the boat is not "as described" on the inspection report at the auction, then it was his responsibility to make it right because he would take it up with the auction company.

I bought a "dealer repo" 212v Supreme about two months ago, with like 1 hour on it. Couldn't be happier. all stereo intact, interior very clean, and got a good deal.
I guess the only gripe I had was it didn't come with the "additional" things, ( cover / spare tire / Fire Ext. etc... ) But I found a guy that had his Centurain Repo'd and gave him a couple hundred bucks for everything he took out of his before the repo man came by.
Sorry if a bit off topic, all in all I've have had more positive than negative about buying a repo.

Jeremy, what did you end up keeping?

My neighbor bought a Wakesetter from the AuctionPipeline.com auction here in Spokane. We've looked at several of the boats there till he finally bought one. We have never seen any that looked like they were right off the show room floor. Plenty with low hours though. Quite a few where the racks, stereo, Wedge, swim platform, even the Isotta steering wheel & throttle knob had been removed. One was missing the tower.

We bought a truck thru the same place a while back. After a couple of days, the alternator was toast. The auction site had parts & a mechanic who replaced the alternator. They said they inspect the vehicle pretty thoroughly before they go on auction. Problems are listed & dealers are expected to bid accordingly. I'm not sure how tough it would be to get work done in every case. I'm sure it's handled on a case by case basis.

We've had all good experiences with the auctioned vehicles up to now. Granted some things were missing, but the deal was good enough that it justified adding that stuff later & still being way under what we could have bought it for elsewhere. We just go in knowing these things & keep a critical eye on things as we shop.

Bill, I can see what you are saying. Guess it depends on the auction. The spokane auction is not really known for boats, so you are not seeing the selection other people are talking about...

Again guys, thank you this is good feedback.

The boat I am looking at was bought by a dealer and now he is re-selling. I don't mind that and understand he is making money off of it. I, unfortunately, am looking at it from afar. I cannot actually touch the boat. I have received 30 high res photos and a copy of the auction inspection report stating its condition and compression check.

Hard to make that leap of faith with big dollars involved but the guy selling the boat has been very forthcoming which helps.

T

SS, the boat I kept was the 03 Supra Launch SSV.

You can always offer someone a case of beer or dinner out if they take a look at the boat for you. Many times, people in groups like this are very willing to go a little out of the way for a fellow boater. Just getting some eyes in front of the boat with a cell phone talking to you does a lot of good for your faith.

A couple years ago when Digg's buddy was selling his boat near Portland, I had a friend of mine who lives nearby go over & check the boat out. He gave me details I never saw in the pictures or heard from the dealer. Apparently the previous owner had the boat tied up to a houseboat one night & it must have gotten a little rough. My friend found a few gouges in the fiberglass, not terribly deep, and easily repaired. And there was no stereo. I negotiated those details with the dealer before I ever even got in the truck. Calling in that favor made me definitely a lot more informed when I made the 350 mile drive to see the boat.

PS: Weeks later I got the previous owner's name & email address & he gave me some of those details that the dealer never told me. ie; what happened with the stereo & the gouges in the glass.

Yeah... I definitley like having my eyes on anything or as Bill said someone looking it over that you can trust. The boats will speak for themselves. No reason to be any more scared of a re-po boat than any boat you are buying from a stranger. Just do your homework and inspect or have the boat inspected. Good luck....

Bad karma Mark.

Despite being 2 years old (but only had 1 hour), mine was showroom condition. Just watch your ass and make sure you see the boat in person.

Get on a plane and go see the boat. If they don't let you see it, forget it.