Put down a deposit - any advice? 2003 Regal 2200

[Vista600]

Hey all,
I finally made the jump (or almost) and decided to hold an 03 Regal 2200, trailer included. The boat has 102 hours and is in impeccable condition (will have it surveyed) from a visual inspection. Original owners are selling and had it kept indoors. Only imperfection is a small gouge on the fiberglass of the swim platform. Power is a VP 5.0GXI and outdrive, Should I be concerned this engine? I've read some negative things. But, if I look hard enough, there is bad stuff about any choice. Advice is welcome.
We have agreed on $20K pending all contingencies. Sound fair? I've looked on Boattrader and others and it seems in line, given this one is in top condition with fewer hours than any I have seen.
Fire away with suggestions or info.

Thanks!

 

[spoilsofwar]

Re: Put down a deposit - any advice? 2003 Regal 2200

Nothing to fear about a late model volvo penta. Parts are often more expensive then their Merc counterparts, thats about it. Thats a fuel injected engine, so it can be more complex to troubleshoot and perhaps pricier to fix depending on the issue. You dont say whether its an SX or DP outdrive, but both are outstanding.

Price seems a bit high, but hard to say without knowing your location. Regardless, its a nice boat and a good engine package.

 

[Vista600]

Re: Put down a deposit - any advice? 2003 Regal 2200

Thanks for the input! Drive is a DP, and I'm located at lake of the ozarks where everything seems to be priced a bit higher.

 

[tpenfield]

Re: Put down a deposit - any advice? 2003 Regal 2200

Boat trader would not be a good indicator for value, as those prices are asking prices, and a majority of boats for sale are over priced and don't sell until the price is lowered (then they disappear off Boattrader).

Here is what NADA has for value:

2003 Regal Marine 2200 LSR Standard Equipment, Boat Value, Boat Price & Craft Specs | NADAguides

So, $20K is top dollar, even with the trailer. Things to think about are the low hours . . . how did that happen? Do you know? You are looking at about 10 hours per year, but was the boat used consistently? Probably not. for the time (years) when the boat was not used, what was done to preserve it?

Usually a sea trial and a compression test along with a cylinder leak test can reveal any issues with the engine. So, I would recommend those things.

So, just some things to be aware of and thinking about.

 

[90stingray]

Re: Put down a deposit - any advice? 2003 Regal 2200

My suggestion... sea trial. And if all is well, hand over the cash and tow her home. Make sure you get titles for the trailer and boat.

 

[moosehead]

Re: Put down a deposit - any advice? 2003 Regal 2200

^good advice on sea trial, compression test, cylinder tests, also a fluid eyeball can give some clue as to level of care. Also check trailer bearings, brakes, tires, but likely good given low hours.

Note that on the NADA estimate you can add the proper powerplant, duoprop, stainless props, canvass, stereo, swim platform, etc, plus trailer. Depending upon options you can end up pretty close to your $20k price for average retail. While not a steal, could be fair for both parties if ship shape. Ask them to toss in extras such as dock lines, PFD's, water toys, etc.

 

[jkust]

Re: Put down a deposit - any advice? 2003 Regal 2200

Sounds like a nice package...I see you originally mentioned you will get it surveyed so you've got that covered. As for the hours, low hours here in MN are the norm. 10 hours a year of engine time but 100 of floating time wouldn't make me think twice unless it was used on a large lake. Most of our lakes are small, summer is short then subtract off bad weather, kids activities, etc and all the sudden the boat sat more than you thought it would. You can put 5 hours a day easily on a large lake like Ozarks so the lower hours to me and how that happened is the open question in my mind.

 

[frantically relaxing]

Re: Put down a deposit - any advice? 2003 Regal 2200

My opinion on low hour boats runs this way: Even thru last season I found many new 2008 boats for sale, recession leftovers. 4 years those boats sat around who knows where, probably outside in dealer lots. But rarely if ever do I hear anyone say to beware of those boats because of non-use. And in all my years of boating, and dealing with other boaters in person and online, I can't remember one instance of an engine or drive oil leak of any kind that was attributed to bad seals because of the boat sitting around.

My concern on such boats is rubber gas lines and other hoses, which deteriorate simply with age, and upholstery in boats stored outside where inside temps can reach the 120's.

Buying from owners who obviously had pride in the boat and maintained it well is a big plus. When I found our Chap for sale, the ad pics looked great, and when we saw her in person I was amazed that an 8 year old 340 hour boat could look so good, especially the engine room. She had her own garage built just for her, and owners that obviously took care great of her. Our shopping was done!

Has she been flawless? Umm, no... -- the starter solenoid cracked about 3 weeks in, had to replace that ($12 I think) the shift cable adjuster on the drive broke, I made a new one (free); last year the trim stopped working, that required nothing more than cleaning up the commutator on the trim motor (free); and I also determined last year that my battery charge isolator isn't working right ($??), that's getting changed, probably next weekend...

My advice? Condition: If it looks like new it probably is, it has low hours and you're having it checked so plus1... if the price is "in the ballpark", is as low as the seller is willing, and you're good with it, plus2 go for it. Screaming deals are few and far between... Finally, plan on SOME problems. And take good care of her, she'll repay you with many good memories!

 

[TilliamWe]

Re: Put down a deposit - any advice? 2003 Regal 2200

Re: low hours. As long as YEARLY maintenance items weren't skipped because "We only put 10 hours this year, we don't need to change the engine/outdrive oil, or grease the gimbal, etc." then you are okay. But it's when people skip stuff that is YEARLY maintenance, that I worry about a "low hour" boat. A look at the records, sea trail, and a mechanical inspection should tell you eveything you need to know. Good luck.

 

[MarkSee]

Re: Put down a deposit - any advice? 2003 Regal 2200

The boat has 102 hours.........fire away with suggestions or info.

As the other guys are saying, proper "hours" is what you are looking for.

Remember that just because the hour meter says 102, doesn't mean it hasn't been tampered with or replaced.
You need to get the real hours validated with your mechanical inspection guy putting it on a scan tool.

Mark

 

[Jake007]

Re: Put down a deposit - any advice? 2003 Regal 2200

Lots of good advice from others already.
What I would add is if you can find one that is stored inside and has reasonable maintainance records you are generally golden. Inside storage generally means the interior will be nice and dry for most of her life with minimal sun damage to the nagahide. Like others have said, be sure to get the mechanicals checked out. However, do be prepared to sink some money into her even if she checks out good. A couple of grand a year would not be unheard of especially when you first buy her. Boats are awesome and will fill your life with some of the best memories. Congrats and welcome!

Oh, and Regals are great boats! A friend of mine had that same boat and it was real nice.

 

[Vista600]

Re: Put down a deposit - any advice? 2003 Regal 2200

Thanks for all the advice. What I'm gathering from this is that some have doubts about the hours and maintenance of the boat. I will definitely be asking some questions to clarify that a bit.
Spending "a couple grand a year" doesn't put a smile on my face. I'm really hoping that's not the case. I understand I will be putting some money into this, but I'm really hoping that's not the case.
I will be talking with the owners and taking her out for a trial within the next week or two. Anything I should be looking for during the trial that might be a red flag? Also, I know the marina where service was performed, so I will be asking them a few questions to clarify the history of the boat.
Thanks again for all the advice! Any and all is more than welcome and invaluable.

 

[Vista600]

Re: Put down a deposit - any advice? 2003 Regal 2200

One other question about NADA values -
When choosing "options" do you include things like the CD player/swim platform, etc. that were standard equipment on the boat? I would think those are already factored into the price, as it is obviously model specific when calculating. I'm a little confused with that one.

 

[tpenfield]

Re: Put down a deposit - any advice? 2003 Regal 2200

According to the instructions that NADA publishes, only options that are not included in the boat should be added. Often, that is hard to determine, So, it might be good to just include the big items. A seller, will want to add every little thing and a buyer will want to add nothing. There is a second source for pricing, which may add perspective . . . BUCvalue.com you can get limited access for free, and unlimited access for a monthly charge.

BUC has the value at 14,600 - 16,600 in good condition . . . so maybe add 10-15% for 'very good' condition and it is $16,000 - $18,000. I added typical options to the NADA and came up with about $18,000

$2K per year on maintenance and things that break is about right. If you have the boat maintained at a marina, it is totally right . . . might be a bit low in some cases.

Do you plan on having a marine surveyor inspect the boat?

 

[Slip Away]

Re: Put down a deposit - any advice? 2003 Regal 2200

Price is just fine for that model Regal, go for it. Engine is a good one, but IMO borderline for that size boat. A 5.7L would be preferred, but it should
still be adequate for you.

Nice boat !

 

[TilliamWe]

Re: Put down a deposit - any advice? 2003 Regal 2200

... Engine is a good one, but IMO borderline for that size boat. A 5.7L would be preferred, but it should
still be adequate for you.

It's got the DuoProp drive, so that'll make it just fine. Unless he plans to have 8 people aboard every day!

 

[Slip Away]

Re: Put down a deposit - any advice? 2003 Regal 2200

Yes.

 

[LippCJ7]

Re: Put down a deposit - any advice? 2003 Regal 2200

Price is just fine for that model Regal, go for it. Engine is a good one, but IMO borderline for that size boat. A 5.7L would be preferred, but it should
still be adequate for you.

Nice boat !

This is the only thing I would be concerned with and would certainly do a sea trial, LOTO is a big lake and big ponies are a plus, I think if you are not into going fast and water sports this boat would be perfect, but if you like loading your boat with a ton of people and going tubing you will quickly see the limitations of the smaller motor, the outdrive will do a nice job helping your motor though also.

 

[jkust]

Re: Put down a deposit - any advice? 2003 Regal 2200

Since it's turning into an engine discussion, at 22 feet i feel 270hp is on the bubble. That is the optional engine on my tiny, much lighter,18 footer. If I'm spending the money on a nice 22 footer, I'm going to get one of the larger engine options.

 

[TilliamWe]

Re: Put down a deposit - any advice? 2003 Regal 2200

Yes.

While that is an awesome picture, not sure how it's relevant?