Buying advice for Z250... Deposit?

Motoxxx43 · 01-15-2013, 06:53 PM

I am not sure if the "Original Mariah Talk" is the right place to put this thread but its about an original Mariah!
This weekend Im renting a car to go on a little road trip to check out the Z250 I was talking about on here earlier. Its been in storage and the owner has a good amount of info for me on the vessel, I just want to see it first before going after it. We have discussed doing something like a deposit towards the boat so she knows Im serious about buying it and holding for me into the next month when I have more time take care of stuff at the bank with my current boat, etc.
Has anyone done this before or is it even a good idea? I have done some searching on "deposit forums" for boats an similar items but have not found anything that looks solid.

csterner · 01-15-2013, 11:46 PM

I have done that before, but it is really a risk. You really have to trust the seller. The "what ifs" are endless, like what if the boat gets damaged, or stolen, or....

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***ColoradoDiablo*** · 01-16-2013, 01:32 AM

Set it up as a written agreement between the two of you with the "what ifs" in the agreement if it makes you feel better.
The only issues I have ever had with a deposit on a vehicle is when the buyer couldn't come up with the balance. IE: Get the funding.
It is wintertime.........not many people looking for boats when it's 20 below

I always figured if the item was still available when I got the money , then it was meant to be.

If you think you can't come up with the money for some reason , then don't give a deposit.

JMO

Oregondunes · 01-16-2013, 02:19 AM

Deposit thru PayPal. No delivery, PayPal will refund if they not voluntarily

***ShabahZ280*** · 01-16-2013, 01:52 PM

I agree with everything said above.

Drive and look at it. If it's everything you want, then tell the seller you'll buy it, and put no more than a $1k deposit on it, but have a signed agreement in place before you fork the money over. If you can negotiate a hold deposit for less, and even via paypal, then I recommend that too.

Financing with the bank won't be bad, and should only take maybe 2 weeks at most, if the seller cooperates and gives them everything they need. Or, maybe something to consider would be to get pre-approved first. This only takes about an hour and then it lets you know you're set financially.

One other thing, if your state requires titling, make sure the boat you're buying is in a state that also requires titling. I live in Ohio and I bought the Z280 from Georgia. They don't require titling there, so I ran into all sorts of delays and headaches with the bank and seller on that.

Motoxxx43 · 01-16-2013, 02:06 PM

Quote:

Originally Posted by ShabahZ250

I agree with everything said above.

One other thing, if your state requires titling, make sure the boat you're buying is in a state that also requires titling. I live in Ohio and I bought the Z280 from Georgia. They don't require titling there, so I ran into all sorts of delays and headaches with the bank and seller on that.

I like the paypal idea AND the fact that it is 20* outside- not many people are looking-. I noticed it for sale since about Aug or Sept and it was not till I started contemplating a swim platform and a few other things that added up ($$$$) I figured before I put money into the one I have why not just get the one I want to begin with and go from there...

Im looking at one in AZ and Im in CO. So titling could be something that comes up, I will look into it. Would the bank be the ones to ask? They will be handling the title stuff.

On the fence about a deposit now. Glad I asked!

***ShabahZ280*** · 01-16-2013, 05:18 PM

Yes, the bank will be the one to handle titling. It just causes quite a bit of delay in getting everything finalized. My Z280 was in GA for the last year or two but the owners bought it new and had kept it in FL before that. The bank and the broker had to go back and forth for days to locate the original FL records, and even the original purchase records to find the titling info.

The thing about not giving a deposit is.... IF during that month where you're trying to figure out your finances, someone else comes along with the cash (or approved financing), you will most likely lose out on the boat you really want.

Just something to keep in mind.

One other thing to think about... Yes it is quite chilly now, and it may not seem like a buyer's time, but this is the season for boat shows across the US. People go to boat shows and get all pumped up about boating for the summer, which causes them all to start looking more aggressively. Hey, you're looking now, aren't ya? Lots of others could be too! I bought my Z250 in January and did a sea trial on the Chesapeake Bay with a skim ice layer and 21 degree temps...

Are you looking at "The Pirkle8or" by any chance?

***ColoradoDiablo*** · 01-16-2013, 06:35 PM

As Chris said , get preapproved for a loan.
Colorado doesn't require a title on boat , just trailer. However , depending on financial institute , they might want a title or some other paperwork.

Motoxxx43 · 01-16-2013, 08:19 PM

As far as I know it is not called "The Pirkle8or", do you have a link?
I talked with bank. All sounds good. The current owner has all the paperwork for it free and clear. After a VIN inspection on the trailer, boat and motor it will not be a problem.
And the deposit is sounding to be like a good thing again...

***ShabahZ280*** · 01-16-2013, 10:14 PM

There's one currently for sale in AZ, it's yellow with purple canvas, and it's called "The Pirkle8or"

Used 2000 Mariah Shabah 250, Phoenix, Az - 85045 - BoatTrader.com

Little overpriced, based on current market values.