Project boat.... ho much would you pay?

[mavryk]

Ok the floor is open for discussion. I have located a 1999 Chaparral 2130 SS, 5.0L, Chaparral matching tandem axle trailer w/brakes is included. Here's the deal:

#1. It is a repo
#2. The motor is bad, stated that it was not properly winterized
#3. It has been sitting outdoors uncovered for about 2 weeks

I have looked at the boat and the motor issue aside, it is in very good condition. The interior is very nice, no soft spots anywhere in deck, carpet/uphostry/seating is in excellent conditon without tears, stains, bad seams, etc. The engine compartment is spotless. All electrical components are functional, wiring is intact and routed/terminated correctly (no wire nuts and electricians tape) very nice SS 3blade prop in excellent cond, lower unit apperars clean, tilt/trim works. The hull is in very good condition, with some very minor rub marks and small scratches in the finish coat. All the cleats/rails/hardware etc. are in good shape, nothing loose, dangling, missing. Trailer has some surface rust in one spot at the back, tires are 50%. Don't know if the lights work properly or not.

Here's my thinking.... those who have more knowledge and experience please point out my errors.

The whole thing hinges on if f I can get it bought for the right money (we'll come back to that). I believe I can purchase and install a fresh 305 reman and have the lower unit gone through for $3-4K, provided there are no major issues in the drive unit.

I am thinking I could get the boat together for under $8k, including purchase price, which is under NADA by around $1500-$2000. The biggest appeal to me is that I would have a fresh motor and a drive with a clean bill of health.

Please tell me if I'm all wet (pardon the pun) and what you would be willing to pay for the boat in it's current condition (bad motor).


Thanks

 

[jk33]

Re: Project boat.... ho much would you pay?

Do you have pictures?.

 

[lakegeorge]

Re: Project boat.... ho much would you pay?

I think it sounds doable, I would offer rock bottom price and see what they say.

 

[smokeonthewater]

Re: Project boat.... ho much would you pay?

I'm thinking the price as is should be $2500

 

[mavryk]

Re: Project boat.... ho much would you pay?

On it's best day the boat is valued around $10K. If you pay $8k for it and put another $3K or $4K into it, well you see the problem. Of course this all assumes you time is worthless and that is never true. My take, walk away and spend your $12K on a running boat in good condition. (If you could buy this boat for say $5K it *might* make sense.)

Read my post. At no place in it did I mention paying $8k to buy the boat. What I proposed was buying the boat and getting the motor replaced for a Total of $8k. I agree the value of this boat in running cond. is around $10k. As I stated, I'm not going to be getting a huge discount, rather a good price on a nice craft with a new powerplant.

Thanks for the input. I am going to think long and hard before deciding if this is a deal or not.

 

[calvinator]

Re: Project boat.... ho much would you pay?

I hear ya on buying a project and fixing it up. I've done it !


All said and done you'll be into this for $8k +/- (probably on the + side hahaha)

FOR ME, I would be thinking I could get a nice, water ready 21'-23' boat for the same price. And then just go boating. Last year I sold my flawless 1995 21' Wellcraft with a 5.7 motor for $7k. That is the going rate in mid-Ohio.

 

[smokeonthewater]

Re: Project boat.... ho much would you pay?

keep in mind too... being a repo.. just because they told you 4k doesn't mean they wouldn't sell it for 2.5k

 

[mavryk]

Re: Project boat.... ho much would you pay?

I worded my original post poorly. The $3-$4k figure I refer to is for purchase and installation of a remanufactured engine. I have not discussed purchase price with owner. If I decide to try to do the deal, I will not give more than $2500, I'm shooting for $1000-$1500. I understand if I purchse the boat and repower it, I will be into it for not a lot less than purchasing a running boat. The attraction for me is that it will be a fresh powerplant.

Thanks for the advice. Please keep it coming. Still trying to decide if this is something to pursue or not.

 

[heyyou325]

Re: Project boat.... ho much would you pay?

That sounds like a very doable project, but you will find a few other things you want fixed or changed. Also, the more you can do yourself the cheaper it will be, and the more you will know about it if something happens and you need to fix it in a hurry. If it is the same size engine, you will either have extra usable parts, or not have to replace everything. If you can get them back from whoever does the work. If you're not familiar with installing inboards, there is a lot more to them than automotive, or at least it's different problems. Good luck, esp getting the bank down on the price. I'm assuming the bank has it on a repo Also, if the engine froze, check the hull over real close.

 

[mavryk]

Re: Project boat.... ho much would you pay?

I have the advantage of a family member who owns a marina, so I plan to do the engine install myself and pay them to do the drive work. I will admit, I have never installed an inboard, however I have pulled/installed a ton of chevy smallblocks and trannys, so I feel confident I can do a competent (notice I did not say fast or efficient ) job of pulling/installing the new motor.
I feel that I did a very thorough inspect on the hull, and didn't note any issues of concern. You advise that I check the hull real close- is there any particular thing I should look for that I may have missed? I should clarify that the engine froze due to improper winterizing, not from being left in the water.

Thanks for the advice!

 

[heyyou325]

Re: Project boat.... ho much would you pay?

Yea, check the hull for a hole or any sign of a leak. If water froze in the block, what would it do in the hull? I tried pulling an engine with a cracked block, and getting everything unhooked from the outdrive and lower unit drove me crazy. I broke things I shouldn't have, and then I got frustrated. Once it's unhooked from the drive unit it's a piece of cake. If you've got a cherry picker, or hoist of some sort.

 

[smokeonthewater]

Re: Project boat.... ho much would you pay?

assuming v8 merc

you remove the drive first... then two bolts for rear mounts and 4 lag bolts OR two nuts for front mounts.. throttle, and shift cables, electric plug, trim sender, starter and ground cables, cooling water inlet, hose clamps on exhaust, power steering hoses at transom, and fuel inlet hose.... IF you aren't working in a super cramped engine compartment it can be out of the boat in under 30 minutes..... I did it in 17 once to win a $50 bet

 

[crabby captain john]

Re: Project boat.... ho much would you pay?

In the end you still have a 1999 boat. Nearly 15 years old and there will be things you want to update and other things about to break.

 

[mavryk]

Re: Project boat.... ho much would you pay?

assuming v8 merc

you remove the drive first... then two bolts for rear mounts and 4 lag bolts OR two nuts for front mounts.. throttle, and shift cables, electric plug, trim sender, starter and ground cables, cooling water inlet, hose clamps on exhaust, power steering hoses at transom, and fuel inlet hose.... IF you aren't working in a super cramped engine compartment it can be out of the boat in under 30 minutes..... I did it in 17 once to win a $50 bet

I have done a lot of SBC engine swaps back in the day..... sure appears to be easier to access most the engine for in this particualar boat vs. crawling up in the engine compartment of an old Chevy pickup. And, much nicer to to pull the drive off vs. crawling around under a car trying to get the bellhousing bolts loose .

 

[mavryk]

Re: Project boat.... ho much would you pay?

In the end you still have a 1999 boat. Nearly 15 years old and there will be things you want to update and other things about to break.

Yep you're 100% correct, 2013-1999=14, very nearly 15 years old.

 

[jigngrub]

Re: Project boat.... ho much would you pay?

Tell them you'll haul it off if they pay you $100.

 

[smokeonthewater]

Re: Project boat.... ho much would you pay?

shoot if they agree to $1000 and you don't snag it let me know... I'll drive up immediately with cash in hand at that price LOL

 

[mavryk]

Re: Project boat.... ho much would you pay?

shoot if they agree to $1000 and you don't snag it let me know... I'll drive up immediately with cash in hand at that price LOL

LOL nice try sorry about your luck! When the time comes to try and do the deal I will have 10 crisp fresh Ben Franklins in one pocket and 10 more Ben's in my Wallet. Seriously though, the more I consider this deal the more I come to the conclusion that there isn't a lot of downside risk and pretty good upside reward. Seems like the juice is worth the squeeze on this one. Unless, of course, someone can suggest something that I am totally missing. I am very grateful for everyone's input. It has definetly helped me to look at this deal from some different angles.

Thanks again.

 

[series60]

Re: Project boat.... ho much would you pay?

The whole thing hinges on if f I can get it bought for the right money (we'll come back to that). I believe I can purchase and install a fresh 305 reman and have the lower unit gone through for $3-4K, provided there are no major issues in the drive unit.

I wouldn't spend $$ for a 305sbc, instead for the same $$ you can buy a 350sbc and be much happier. Another $1500 for a new SEI complete outdrive. To do it up right include new exhaust manifolds for $600 and you will have years of trouble free boating

 

[mavryk]

Re: Project boat.... ho much would you pay?

I wouldn't spend $$ for a 305sbc, instead for the same $$ you can buy a 350sbc and be much happier. Another $1500 for a new SEI complete outdrive. To do it up right include new exhaust manifolds for $600 and you will have years of trouble free boating

305 vs 350 is something I just started looking into. Very little price difference. I looked up new outdrives last night and was pleasantly surprised how (relatively) inexpensive they are. I believe that SEI was the company I was looking at.... if I remember correctly they are a brand new aftermarket unit with a 3 yr warranty? I am going to assess the current drive, and if it seems problematic do as you have suggested and just drop in a brand new one. The exhaust manifolds look very good, but that is to my untrained eye. What would the concern be with them.... that the same frozen water issue on the block may have cracked the manifolds cooling system?

Thanks for the input.