Posts Tagged with ‘Repossessed’

Thursday, July 1, 2010

Boat Repo Auctions

Bayliner Conquest SportbridgeHave you ever wondered what it would be like to be on the open water?  Navigating your boat towards the prime fishing spots.  Maybe a secluded beach if more your flavor.  Either way, owning a boat may no longer be a pipe dream for you.  So what if you don’t live near the coast.  There are thousands of lakes and rivers throughout this country – all itching to be explored by boat.  The boat-owning experience is quite rewarding.  And instead of paying retail, you can find yourself a nice deal at boat repo auctions.  All kinds of boats find their way to boat repo auctions – million dollar yachts, fancy speedboats, and even a regular boat that you can take out on your local lake and/or river.  You can find yourself owning one of these boats after placing the winning bid at a boat repo auction.

Boat Repo Auctions come about for many reasons.  However, all the reasons start with a delinquent owner.  Whether that owner fails to pay their monthly payments, uses the boat for illegal activity, buys the boat using dirty money, or even fails to pay taxes.  This means that you can potentially find not just a lot of boats available at auction, but a large variety as well.  Just imagine being able to find a nice-sized boat for you to take out on the lake, while also finding a fancy kayak for your more adventurous trips down the rapids of your local river.  If you tend to be adventurous with your wallet, you can look into buying an expensive yacht that you can rent out for fishing trips, parties (such as office parties, weddings, sweet 16s, etc…), and corporate events.  Of course, you could also just use it for your own good, and take out a few fishing buddies every Sunday.  You may have to install a satellite to watch the game, but really, is there anything better than being able to sit down, watch the game, go fishing, and hanging out with friends?  But, don’t get your hopes up just yet.  You need to spend time looking into owning the boat first.

Unlike a car, which you can just park on most streets or in the driveway, a boat requires more planning and infrastructure.  For starters, you will need to look into the cost of either docking the boat, or a trailer for your boat.  Once you are sure that you can own a boat, and be able to store it, you are ready to investigate the actual boats available at boat repo auctions.  You should go to any preview, if possible, and bring along a knowledgeable boat mechanic, to ensure that the boat is in good shape and wasn’t neglected by its previous owner.  Additionally you should look up any information available on the Hull Identification Number, to find out what, if any, issues may exist with the boat.  Even if it was neglected, a boat mechanic should be able to tell you if it would be worth it to buy the boat, and fix it up.  Fixing up the boat you found at a boat repo auction, could still end up costing less than buying a similar boat either used, or new.  So take the time out to do the research on any boat you plan on purchasing.  Doing that will allow you to set a limit on the amount of money you want to spend, and will help protect you from possibly ending up losing money.

Now that we know the benefits of boat ownership, and possible pitfalls, we need to find boat repo auctions.  Relying on late night infomercials to find us great deals for pennies on the dollar is probably a very bad idea (almost as bad as putting a great white shark in your fish-tank).  Spending hours searching the Internet and newspapers is just not worth it, when you could be spending that time with friends and family.  After all, the point of having a boat is to go and have fun with your family.  Activate your free trial here, and use that extra time to enjoy your family and research on the actual boat, not looking for one.

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Posted in Boat, Marine Vessel, Recreational Watercraft, Ships, Yachts