To warranty or not to warranty???

[its a marathon]

I am considering buying a 2006 225xt bayliner. The owner told me that I could purchase the remainder of the warranty on the boat (in addition to the boat). It is $1500 for 3 years. The total cost would be $18500. This is approx where NADA puts the boat without the warranty. Assuming the warranty is pretty comprehensive, is this a good buy? Without the warranty the boat is 17K. Assuming I buy the boat, should I buy the boat at 17K with no warranty or buy the boat with the warranty at 18.5 K?

Thanks for your opinions.

 

[AtoZ]

Re: To warranty or not to warranty???

I would tell him you don't want the warranty. I assume he paid for it when he purchased the boat. If not, you need to read the fine print as it sounds like an add-on. Call the dealer who originally sold the boat and see what warranty came with it.

 

[SeanT]

Re: To warranty or not to warranty???

Yeah that sounds a bit funny. Of course, if you have the cash, people smarter than I might suggest buying the boat for 17k, then forgetting the other 1500 in a coat pocket to be found only when/if you have problems that aren't covered under the standard warranty.

 

[ezmobee]

Re: To warranty or not to warranty???

$1500 can do a lot of repair work. That's WAY too expensive. Heck I just bought a 6 year 120k mile extended warranty for my new Honda for $800 and there's a lot more to break there.

 

[dvan1901]

Re: To warranty or not to warranty???

Hey probably bought an extended warranty from the dealer and is trying to pass the cost on to you. I would check with the dealer and see if that warranty is transferable. If it is, you don't have to pay anything, he already did.

 

[its a marathon]

Re: To warranty or not to warranty???

He says he did pay for it already. He is telling me that he can cash out with the company at $1500, which is the remainder of the warranty. He bought the warranty for 3K and hasn't used any of it, but it is 3 years into the 6 year warranty. So the company said he could get $1500 back from them - 1/2 of what he originally paid for the warranty. The seller is giving me the option of purchasing the warranty from him. If I don't, then he will get the remainder of the refund from the company. (Is this even possible?) If I decided to purchase the warranty from him, I would of course check to see if all of this was legit. At any rate, it sounds like $1500 is too much for a 3 year warranty.

Can anyone tell me if they know of 3rd party companies that will give extended warranties on boats?

Thanks.

 

[SeanT]

Re: To warranty or not to warranty???

If you like the boat, pass on his warranty. Go straight to whoever he's talking to and find out the warranty (after you grab his HID).

 

[its a marathon]

Re: To warranty or not to warranty???

SeanT, what is an HID?

 

[SeanT]

Re: To warranty or not to warranty???

Sorry, I was abbreviating "hull ID". The VIN or serial number or any number of other names for it. I figured that would be required info looking for boat warranty status, extensions, etc.

 

[tashasdaddy]

Re: To warranty or not to warranty???

forget the warranty. no boat mfgr warrants a boat for 6 years. it is an extended warranty, like those advertized for autos, that pay nothing. they way they make money, is in hopes you sell the boat before the warranty is out. never heard of any warranty refunding premium.

 

[dvan1901]

Re: To warranty or not to warranty???

Hmm, he paid for the warranty, and if he wants to back out the company will pay him.....I HIGHLY doubt that. Maybe...MAYBE if it is a non-transferable warranty, but I still doubt it. I would check with the company; you could call them and say "hey, I've got this boat I'm thinking about getting a warranty for, but if after a year of my 3 year contract, can I back out of it and get refunded". I think he is trying to recover his own costs when he should have just included it in the cost of the sale to begin with.

 

[ezmobee]

Re: To warranty or not to warranty???

It's possible dvan. I traded a car once and received a pretty hefty refund for the unused warranty term.

 

[superpop]

Re: To warranty or not to warranty???

This sounds like a third party warranty, not a warranty extension by the drive manufacturer. I would not pay $1500.00 for that as these type of warranties tend to be a pain to work with and you have to jump through hoops to get them to pay. When I purchased my boat in the fall the previous owner had received a 5 year warranty from Volvo that was transferable, I paid Volvo 100 bucks and now the warranty is in my name. For 100 bucks it is nice to know that my motor and drive are covered but I would not pay a third party company 1500 for that. I paid 900 bucks for a 7 year 100000 mile warranty on my Toyota Tundra and like another poster mentioned, it is a lot more likely that I will use it. I purchased it though from Toyota and I would not have purchased it from a third party. Same with the Drive System.