"Sale! Repo Special!"

[mickjetblue]

I am not trying to sell a boat, and will explain the title.

I was on the highway last weekend, and drove through the lot of a boat
dealer. Instead of a few new boats parked around the main entrance, there
were a few boats that were a couple years old. Each of them had the same
sign on them - "Sale! Repo Special!"

I am not sure of what to think about this. They are nice boats, 20' to 24'
and very clean. Couple hours drive to water big enough for them, though.
Not trying to post anything dismal, but it's a realistic sign of the times.
Hope things get better this year.

 

[Bob_VT]

Re: "Sale! Repo Special!"

I hate that word. If they are in such good condition ......... Pre-Enjoyed Boats for sale.

I hate to see repo used in a sale context

 

[thefairlaneman]

Re: "Sale! Repo Special!"

I would need to talk to the guy they repoed it from before I would believe the sign. It could be just a salesmans way to get you to stop, or at least see some real documentation that it WAS a repo...

 

[Edko]

Re: "Sale! Repo Special!"

When I am in Rock Hall my house is a stones throw from a large Mid Atlantic Repo outfit. Their lot, and docks, are completely full. Some stuff is very nice.

Depending on the bank, they will haggle off the payoff price, sometimes significantly. Unfortunately, the payoff amount is sometimes more than the boat is worth, especially newer models, so the deal is not a great one...

You can always ask who holds the actual title (or lien). The dealer is not obliged to tell you, though.

It is a shame to see so many ladies passing time in that Repo lot.

 

[tashasdaddy]

Re: "Sale! Repo Special!"

Credit union near my home is full of boats, RV's,Motor Homes, and Nice Vehicles.

 

[Limited-Time]

Re: "Sale! Repo Special!"

Credit union near my home is full of boats, RV's,Motor Homes, and Nice Vehicles.

Unfortunately that's not their primary business.

 

[levittownnick]

Re: "Sale! Repo Special!"

I claim not to be superstitious, but I don't want to proffit on someone else's misfortune/misery. It would pray on my mind each time I used or thought about the boat.

 

[dbkerley]

Re: "Sale! Repo Special!"

I was always told never to finance a boat. I guess it is because they cost so much to maintain that I wouldn't want to have a note hanging over me.

 

[Mark42]

Re: "Sale! Repo Special!"

I claim not to be superstitious, but I don't want to proffit on someone else's misfortune/misery. It would pray on my mind each time I used or thought about the boat.

Don't give it a second thought. Many repos are from people who had no intention of paying in the first place. Some are from people who just bought more than they can afford or lost some income. If they were responsible, they would have sold it, payed off/down the loan and worked a deal with the lender to pay the balance. But they didn't. So don't feel bad for people who don't take responsability for their own situations.

 

[dnifedem85]

Re: "Sale! Repo Special!"

Don't give it a second thought. Many repos are from people who had no intention of paying in the first place. Some are from people who just bought more than they can afford or lost some income. If they were responsible, they would have sold it, payed off/down the loan and worked a deal with the lender to pay the balance. But they didn't. So don't feel bad for people who don't take responsability for their own situations.

I agree, people need to take responsibility for their financial decisions. I do feel sorry for those who have lost their jobs, but in my opinion they shouldn't have financed it in the first place. A boat is a toy, toys should not be financed. Especially toys that some people finance with payments of over $500 a month! Are you crazy?! If you make enough money to throw that kinda money away each month, you should be able to pay cash for a boat.

 

[bucky7680]

Re: "Sale! Repo Special!"

Truer words were never spoken. I only finance if it makes me money.

 

[chicknwing]

Re: "Sale! Repo Special!"

My boat is financed....One part at a time

TC

 

[tashasdaddy]

Re: "Sale! Repo Special!"

i have not bought a new boat or car, or financed one since 1969. used is always a better way to go.

 

[itsaboattime]

Re: "Sale! Repo Special!"

jeez TD.................I was only 1 yo in 1969.......................