im going to nc to look at a boat with hopefully intentions of buying if its in good shape. a dealer has it listed on boat trader along with several other boats and campers. talking with the salesman the other day, he says its a repo boat. he says if i buy i will get a bill of sale along with driveout tag for the trailer. he will send me the title within 30 days once bank note is paid. so sounds to me like bank owns boat and this company is selling for them. does this sound right? never bought a repo before and will be going saturday. also wandering if i shoud pay with bank check instead of cash.
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opinions please
- Thread starter treecutter08
- Start date
I dont buy nothing without a title. . . . nothing!! If he is selling for a bank you should be able to get title that day, i'd stay away from that one if i were you.
I have bought a repo vehicle from a bank and was given title when i bought it.
I have bought a repo vehicle from a bank and was given title when i bought it.
Out of state
title within 30 days (not immediately)
Red flags for me.
It is your money and your transaction so use your own judgement.
title within 30 days (not immediately)
Red flags for me.
It is your money and your transaction so use your own judgement.
It is very possible. I run a marina on Lake Lanier. We store repo boats for a company, but I have never had to deal w/ titles as there is no title law in GA, just boat registration that has to be transferred between owners. It could take some time for the title cleanly transfer. The biggest thing buying a repo boat, is to have the engine checked for freeze damage. I will send you a pm you my number. Please feel free to call me tomorrow and I would be glad to answer any questions you may have.
I would at least communicate with the bank to make sure they actually have the title before anyone gets the money.
I've personally never left with the title when I buy from a dealer, at least with cars, they usually take care of the transfer for you and then you get it in the mail.
Boat dealers sell boats on consignment all the time. I might not buy from "Bob's Backlot Boat Sales" but a major dealership is no problem.
Marine Max sold a boat with a payoff for my father last month and everything went smoothly.
You don't get a title on the spot when you buy a car at a dealership either.
Marine Max sold a boat with a payoff for my father last month and everything went smoothly.
You don't get a title on the spot when you buy a car at a dealership either.
Do you do any work on outboards? I just picked up a jon boat with a Mercury 40hp jet drive and I'm trying to find someone who will be able to answer questions for me in the future.
And I would pay with a bank check.
Agreed, if there is a gas station or a waffle house close by just stop in and ask how long the boat dealer has been there, 10 years then you're probably good, 2 weeks maybe not.
