Looking for best way out of bad situation

[brettg18]

Hello,<br /><br />I own a 1995 Sea Ray 195 Bowrider with a 4.3L Mercruiser Alpha 1 inboard/outboard and am in a bind right now. I have only had it one summer and it was only used in freshwater, but the owner before me used it in saltwater and I don't believe took care of it. I have already replaced the manifolds and risers $1500 job! Then I noticed a leak of gear lube oil from the lower unit. I took it into the marina and they are telling me that the entire upper portion of the lower unit needs work and it will be around $3000 and I can expect more problems to come with the condition of this boat. I don't know if it's worth it to put that much in when I know I won't get that back out. My other problem is I am financing and still owe $5000. The marina is trying to make a deal with me to trade my boat in for $3600 and wants to sell me a 1998 Sea Ray 185 bowrider that is in immaculate condition and only used on freshwater for $16000. So, I still have to add the other $1400 I owe on this boat to the finances as well, which puts me at $17400. I am just asking for opinions on the best way out of this no win situation. Should I just dump the boat for what I can get and take my losses, or should I trade it in for a newer boat, or should I have the repairs done. I would thank anyone that has any suggestions. Thank you.

 

[cobra 3.0]

Re: Looking for best way out of bad situation

I would have a second opinion on your leak that is supposed to cost $3000.00 to fix (you can get a whole new drive for that much )! It smells like they know they a dealing with an inexperienced boater. <br />I would not accept this "trade". $3600 for yours vs. $16,000 for a boat only 3 years younger? C'mon! Just because it was run in salt doesn't make it a heap and the other a gem. As is, you have already replaced the high wear items from its salt water use. These items wear out that fast if used in salt water. It doesn't mean the boat was badly maintained. <br /><br />Be careful. It looks like someone is taking you for a patsy.

 

[brettg18]

Re: Looking for best way out of bad situation

Cobra,<br /><br />Thanks for your suggestion. I know they are trying to make a buck off me, I am just looking for the best way out. I would like to just get rid of the boat and although I can't get what I owe $5000 because it needs some work, if I could get most of it and pay off the loan I would be happy. Thanks again.<br /><br />Brett

 

[motox6]

Re: Looking for best way out of bad situation

Like cobra said a WHOLE new/rebuilt outdrive for that same price or less, sounds like you got the big bug off your back with the manifolds. second opinion it for sure. Our boat was the same way, the motor had a cracked block then this leaked then that fried etc,etc. now we got the bugs out of it and it is GREAT and we are not worried about any more loan payments. All boats are gonna nickel and dime ya (that's just the way it goes). Once you get to the last of the gremlins, then you will be glad you did not buy another one and go into even more debt. (of course if you really hate the boat--- well I guess you gotta do what you gotta do.....

 

[Chris1956]

Re: Looking for best way out of bad situation

BT04, I feel for you. These I/Os really need some maintenance to keep them going. I am surprized that the manifolds rotted out so soon. I have an '88 SeaRay with a 4.3LX motor. My manifolds lasted 12 years in saltwater. The risers lasted 10 years.<br /><br />If it were me I would replace the easy seals(waterpump base and upper and lower drive shaft seals, upper-to-lower gearcase seal and lube resovoir seal) and the impeller in the Lower unit myself, and see what happens. It is about $70 in parts and not too difficult. If it did not fix the problem, I would buy another outdrive from iBoats for $1500 or so and install it.<br /><br />Recommend you get a manual and a friend to assist in lifting the outdrive. You will need a waterpump base, waterpump impeller kit and an outdrive mounting gasket kit, for your Alpha 1 Gen II drive. The waterpump kits will have the orings for the top of the drive shaft and the oring for the upper to lower gearcase mating surface, waterpump base(with seals installed) and oring for the waterpump base, water pump base gasket and impeller plate gaskets and a new impeller. The drive mounting kit will have the gasket and o rings for the water inlet and gearlube resovoir<br /><br />PS these kits are available at discount marine stores or Mercruiser dealers. The kits will contain extra gaskets and orings. You will need to match the originals, while replacing them.

 

[Spidybot]

Re: Looking for best way out of bad situation

Don't give it all up yet! You're far from that bad off. A little more homework, a lot more help from this forum and you'll feel better and smarter.<br /><br />Make a systematic plan for this problem and you'll see your options pop up one after the other.<br /><br />The experience available here is unlimited!

 

[rogerwa]

Re: Looking for best way out of bad situation

I would not deal with this dealer.. They are trying to unload another boat on you. Get a second opinion and post back with the specific items they are quoting you for and the price.<br /><br />Can you check the LU lube for water intrusion (milky lube)?? How bad is the leak and where is it specifically coming from??<br /><br />Resealing a gearcase does not cost $3000 if thats all it is..<br /><br />Don't throw the baby out with the bathwater unless you truly don't like the boat.

 

[Scaaty]

Re: Looking for best way out of bad situation

My simple advise is too fix what is broke NOW on what you HAVE, instead of buying MORE that will break ANYWAY down the line and cost you MORE in the long run. All (most) boats float, it's what's inside that makes them tick. So far 27 years getting the "Grems" out my big boat, and would not trade it for anything. And take your boat to a independent boat mechanic, and screw the dealers. BIG diff between dealers and mechanics.

 

[Scuda11]

Re: Looking for best way out of bad situation

Told you there was some great people here Brett! Oh yeah and I agree with everything they said! lol<br /><br />Scott

 

[brettg18]

Re: Looking for best way out of bad situation

I talked to the independent mechanic who replaced my manifolds and risors and he said that he believes it just needs to be resealed and would charge $600. Is that a good price? Worst case scenario, he said that I could get a brand new outdrive with install and 2 year factory warranty for $2600. Either option seems better to me than taking a loss on the boat or trading it in for a $16000 boat debt.

 

[MrBill]

Re: Looking for best way out of bad situation

boattroubles04...sorry to hear of your troubles. As others have said...you can get a complete new outdrive for $3000. I would take apart the upper and lower unit and replace the gasket (assume that is where leak is)-also replace impeller and associated gaskets while in there. To have this work done should not exceed $175, including parts. Then try it our and see how it runs, etc. <br /><br />Here's a link for the future, used boat price guide. NADA publishes used boat prices, just like for autos. Check this data whenever buying or selling. That 1998 SeaRay is valued somewhere between $11,000 and $14,000. Remember too, there are three boats for sale for every buyer...there's literally over one million used boats for sale in this country.<br /><br /> http://www.nadaguides.com

 

[kponhlo]

Re: Looking for best way out of bad situation

My sympathies as well...but from the NADA guide you'll see you're not upside down in your '95 - low retail without options is more than you owe and average retail is nearly $8k.. I'd agree that a complete reseal and impeller is in order..and if you hunt for deals and/or have a handy buddy you can do all the described work yourself - invest $30 in a manual and read thru the steps. Even if you decide to have the work done you'll still want a manual...I read mine in the boat on the trailer while waiting for parts...

 

[steve n carol]

Re: Looking for best way out of bad situation

my piece of work has 220 abused, no, very abused salt water/salton sea, (3 times the salt), hours on the clock when I got it. $798.oo for the manifolds and risers, I installed them myself. the block pressure tested ok. I thought the out drive was shotttttt. took it apart just last night.... water pump/gaskets a handful of seals....about $70.00. I was shopping for another mercrusier outdrive a week ago! oh yeah, year model 1974. years of abuse. 40 years worth.

 

[brettg18]

Re: Looking for best way out of bad situation

Thanks again everyone. I am not very mechanical, but am going to grab a manual and start with the resealing. Gotta learn sometime I guess, especially with a used boat. I'll check back in if I run into any problems. Appreciate your time.