A true newbie question

[aatp]

I have been looking for a boat about 6 months. I have been going to shows, dealers and marinas to pick out not only a brand but the kind of boat that I think would be best for a family. I have a family of five with kids aging from 3-11 that have lots of friends. We recently purchased a house on a lagoon on a bay in N.J. and now am ready to purchase a boat. This past weekend I went to the Baltimore boat show and pretty much narrowed down the boat I am interested in.. After checking out different brands I decided I wanted more info about a Sea Ray 260 Sun Deck. And then it happened I gave a deposit and singed on the dotted line.
Waking up this morning it is setting in that I DID IT.
Now for the question. How does this work. I have an appointment Sat to finish the payment. Buying and paying for a boat and not getting it until boating session has me second guessing the deal and a bit uneasy. Is this how everybody else does it. Of coarse the salesmen wants the deal done but I would like to see it in the water and working. Am I making more out of it then what it is or are there other alternatives to paying in full now.
All suggestions are appreciated.

P.S . I am purchasing from a Marian Max in MD. but has a location in the same town as our summer house and they are willing to deliver the boat to our dealer, give us a 1/2 day orientation on the water and deliver it to our house. Which all sounds wonderful for a first time buyer like myself. Is this how all dealers finalize a deal?

 

[Scott Danforth]

Re: A true newbie question

welcome to Iboats and to your new Sea Ray.

sign yourself up for some boater safety courses. then get yourself towing insurance (new doesnt mean it wont break down).

 

[southkogs]

Re: A true newbie question

Many moons ago when I sold boats (part time for fun), it wasn't "delivered" until it rolled over the curb from the dealer. Much like selling new cars. I haven't ever bought a new boat, but I would think that when you finish your paperwork you will have a document telling you the HIN number on your specific boat.

I don't know how it works (legally) with having one paid for, but not delivered ... seems awkward from the dealership perspective because usually the salespeople are paid on "delivery."

I would suggest you watch for any hidden costs for storage on a boat you've bought, but not had delivered.

 

[NHGuy]

Re: A true newbie question

You will love that boat. To answer your concerns though, unless there is contractual issue I'd drag my feet to finish paying til YOU are satisfied.
And don't take some salesman's promise. Even a contract isn't perfect. Hold them responsible and let them make you happy.
We have friends with that exact boat, 4 bigger kids and a baby. Once in a while we meet up with them for an afternoon of swimming and hanging out. It's great for them and I am very jealous of the room and ride they get.

 

[UncleWillie]

Re: A true newbie question

I bought a a new boat at 10% down, balance on delivery after sea trial.
But this was a new order and had to be built.

If I have it correct, you bought a finished boat from dealer stock.
It is to be paid in full and you will receive the title on Saturday. The title will be "Delivered"!
They have offered to "store" it over the winter for you for Free.
Sea trial and orientation when the weather breaks.

This is a common winter sales perk.

The Good side ...
Free winter storage.
If they go bankrupt tomorrow it is still your boat.
It is the same as if you were parking it on a Storage lot for the winter. (Only FREE!)

The Bad Side....
The warrrant period begins on Saturday.
If it is stolen from the lot or the building burns down, it is likely still your problem.
You will have it Insured, Titled and Registered?

However.... If they still hold the title and all your money and they go bankrupt ....
You will be in line with everyone else they owe trying to get whatever, if anything, you can.

The really bad side....
I have no legal training and all of this may or may not be true.
But at least you now have some questions to ask.

So the real question is ... Would you feel better storing for the winter at the dealers for free, at an RV storage lot for $$$, or in your driveway?

I would get it Titled, get it Insured (Comprehensive at least), and enjoy the free storage.

Or... Wait 'till spring when the prices go up, there are none in stock, wait for delivery, and take it home the same day.

 

[oops!]

Re: A true newbie question

the above is a great post....

and yes....you will love that boat.....congrats !

 

[Philster]

Re: A true newbie question

Warranty: It's a non-issue since you are using the boat seasonally. You are covered for the same number of boating seasons whether you buy the boat now or in April.

I am in the same proverbial boat. Boat will be delivered any day now. I am taking ownership and dealer will store boat for free.

Come April, my boat is given a shakedown and I take her home. Come April, you do not want to be trying to get anyone's attention if you didn't get it already. If you need a tweak or some warranty attention for kinks, that is the time to get it as the first in line. This goes for boat, trailer and your tow vehicle. Boating is about preparation; you'll have time for that now.

Everything related to boating in April/May in the NE USA is 'get in line'. If you bought later and were in line with everyone else waiting til the last minute, then you feel lucky to see the water by June, and if one thing goes wrong, you're pushed back to July.

Did they include a Coast Guard package (vest, paddle, extinguisher, etc). ? I did get to the Baltimore show and I don't think there was a bad deal in the place other than the Grady's and Whalers (not a fan, so I am harsh on them).

Interest rates are going up, because the economy is showing signs of life and promise.

 

[UncleWillie]

Re: A true newbie question

AATP[OP],

So what did you do?

We need the details man! Don't leave us hanging!!