Boat Deal Question - Kinda Tricky Situation!

thompsdw

Petty Officer 3rd Class
Joined
Dec 27, 2002
Messages
75
I have decided to purchase a dealer demo (yea, that is right). The boat is a 2002 year model that was given to an individual on loan from a dealership that could not deliver his ordered boat. There are approx 30 hours on the boat and it is like new except for a few small dings from normal use. The boat will have full engine warranty and the dealer is going to throw in an additional year at no charge. The boat will also have full hull warranty. The reason it will have full warranty from an '02 is because the boat was never titled to an individual.<br /><br />Now the question: the dealer has told me what he has in the boat. He is adding to that price $500 in dealer installed items and then adding $1,300 in profit. Adding all of that up and comparing it to NADA (used boat - no warranty), it is right at the average retail value of the boat. I am thinking that this is a pretty good deal due to the warranty, however, it is an unusual boat to price out (because it is a demo). The profit seems high to me for a two year old model year boat, but I don't have much to compare to.<br /><br />Is this a good deal, great deal, or is he getting more out of me than he should?
 

roscoe

Supreme Mariner
Joined
Oct 30, 2002
Messages
21,763
Re: Boat Deal Question - Kinda Tricky Situation!

It might help to know the make, model, size, and powerplant.<br /><br />The answer to your question would be very different for a $4,000 boat, or for a $60,000 rig.
 

thompsdw

Petty Officer 3rd Class
Joined
Dec 27, 2002
Messages
75
Re: Boat Deal Question - Kinda Tricky Situation!

The boat is a Sylvan 2080 deckboat. The price is just below $20,000. The boat has a 5.0L MPI engine with an Alpha 1 sterndrive.
 

gibbsb

Cadet
Joined
Sep 7, 2003
Messages
19
Re: Boat Deal Question - Kinda Tricky Situation!

If you plan on keeping the boat for the long haul, it sounds OK. Problem is, the day you buy it, it's already 2 years old! Big depreciation...... I'm currently in the same situation and, after owning the boat less than a year, I want to move up to a larger boat. If I sell or trade the boat I have now, I will loose big time. The boat has only been registered 6 months and still has all the warranties, BUT it's an '02 model.
 
D

DJ

Guest
Re: Boat Deal Question - Kinda Tricky Situation!

Sounds like a reasonable deal. The BIG depreciation hit is in the first year. So, you're ahead of the curve there.<br /><br />A $1,300.00 profit is pretty slim on a $20K+ boat, that is less than 7%. Not bad considering he (the dealer) has been stiing on this thing for that long. He has already lost his shirt.
 

POINTER94

Vice Admiral
Joined
Oct 12, 2003
Messages
5,031
Re: Boat Deal Question - Kinda Tricky Situation!

Nothing tricky here.<br /><br />Do you like the boat or are you buying it cuz of the price? If you like it, you are probably getting as good a deal as you can get. Warranties in the boating industry are not like the car industry. Alot has to do with the dealer. If you have a history with them and have had successful dealings with them in the past then great. Warranties on boats are not as easily defined as in other items.<br /><br />Thirty hours is nothing, by the way what are the "dealer installed options?"
 
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