New 2012 RZ2....salvage title??

[Magnumruger]

Hello all! Been awhile since I have posted...been working and saving a lot for that elusive boat purchase. Stumbled upon an RZ2 that has a salvage title for 30k less than sticker price. Apparently this boat was damaged in transit to dealer and suffered "minor" damage, so I am told. Rub rail up front, front hook up eye, and a 2" crack in the hull were repaired due to damage. Also, the dealership owner states that all "underwater parts" we're replaced for a peace of mind because he was going to keep it...but has decided not to. All warranties are in place except for the hull warranty which is where the price cut comes in. May I ask for some food for thought from the wealth of knowledge out there?!?!

[chpthril]

Does Tige know they will be warranting a salvaged (totaled) boat? Cause thats who actually holds the warranty, not the dealers. Why is it going to be a salvaged title? Did the transporter's insurance carrier buy the boat in the form of compensation for the damage, then the dealer bought it back? I mean, boats and cars and such are damaged in transit all the time and thus repaired. This in itself shouldnt make it a salvaged title. A sunk boat that gets repaired isnt necessarily a salvaged title. In most states, the term "salvaged title" is more of a technical term. it means an insurer indemnified an insured for the total value of the lost item, then resold the item in some form, back into the public sector. Its the State DMV/DNR that would actually issue the branded title.

[dingleberry]

I would suggest paying to have a qualified independent marine surveyor perform a thorough inspection and water test. I can't imagine that the damage was very "minor" if it has a salvage title.

It may have been fixed properly and could be a great bargain, but you absolutely want to have it completely checked out.

[luke]

i would take a good look at the repair job and if its good to go buy it.sounds like a sweet deal fyi resale will to be lower

[Magnumruger]

I really wanna buy and keep. Things change but I really don't foresee needing a bigger boat to serve up some serious surfing and a load of friends here and there. Would financing be an issue with that kind of title? Obviously this is my first boat purchase and want to make it my last...at least until its fully paid for!

[brett22i]

I would definitly call your bank/lender and find out what "salvage" title issues may hurt your funding before you fall further in love with this purchase. Salvage title may also cause insurance issues. I buy and sell toys constantly and always asked by my insurance agent about salvage titles.
x2 agree with Dingle, hire a marine inspector.

[sandm]

dealer here took delivery on a new z3. crane operator dropped boat. lots of damage. crane's insurance bought the boat out from tige/dealer and then sold back to the dealer. he fixed and is keeping for personal boat. all warranties from tige were null as soon as crane's insurance bought it out. that's the story I was told. if the warranties are infact intact, get that in writing from tige/pcm directly.

Personally, I'd stay away. you never know how bad the damage really was and if there will be additional damage showing up later. hit a hard chop and new cracks show up. the sweet price will be long forgotten years later as you are potentially dealing with hidden issues.
just my .02

[houstonshark]

I guess it depends on what the 'Sticker Price' is before the discount. Those can get bloated pretty easily.

As long as the repairs get inspected and were done well, it wouldn't bother me at all. We pretty much had all of those same damages in our first year.

If the title will in fact be 'Salvaged', it would have to be a smokin deal as most potential buyers (should you decide to sell in the future) won't even consider a salvaged boat as they would probably just assume it had been sunk.

It could be difficult to finance but not impossible. It just depends on the lender. You might not see the same low interest rate as a new boat.

[boardman74]

I will tell you what i know about salvage titles from buy and selling over the years.

To the best of my knowledge a licensed dealer can not sell a vehicle with a salvage title or trade one in.

To the best of my knowledge banks(most major) will not use an item with a salvaged title for collateral.

You may have a tough time getting insurance on it.

In most states to get tagged with a salvage title(no one wants one) the vehicle has to sustain damage of 50% value or be considered "totaled" by insurance.

So since we are talking a 12 RZ2 we are looking at say a $80K MSRP minimum. There is no way the stuff you said would amount to even $10K, even with the underwater gear. Insurance companies don't total at 10%, they'd go out of business. I know of a mint 2012 RZ2 with 70 hours for 65K with a clean title. How much better is the deal than that?

Disclaimer: These are the standards for Minnesota where I live, they may vary where you are at. But common sense says no one is totaling a boat and issuing a salvage title at 10%.

[boardman74]

Also FYI most dealers are selling RZ2's for 20K off the MSRP(sticker price). Then add the fact that its a 2012 holder over and that probably accounts for the other 10%.

I got burned on a holder once so let me tell you what I learned. Don't pay more for it then you would a clean used one, because the day after you buy thats what it is, a year old clean used boat. Now in your case its a year old boat with a salvage title. In the car world salvage titled vehicles sell for 25-30% less. So Like I said I know of a mint 2012 RZ2 that is loaded for 65K. So to me the deal would have to be 20% better than that(52K), because tomorrow that boat is the same used 2012 with a salvage title.

Like HoustonShark said selling a boat with a damage title is next to impossible without giving it away.

[skippabcool]

Dumb question if it was damaged in transit why would the underwater parts need to be changed? Did it come by way of sea? I would be very careful if it was me, read all the above posts. I think I would rather a used regulations title.

[boardman74]

^^X2. I was think the same exact thing!

[skippabcool]

Dumb question if it was damaged in transit why would the underwater parts need to be changed? Did it come by way of sea? I would be very careful if it was me, read all the above posts. I think I would rather a used regulations title.

Regular title, dang phone

[infotom]

Hello all! Been awhile since I have posted...been working and saving a lot for that elusive boat purchase. Stumbled upon an RZ2 that has a salvage title for 30k less than sticker price. Apparently this boat was damaged in transit to dealer and suffered "minor" damage, so I am told. Rub rail up front, front hook up eye, and a 2" crack in the hull were repaired due to damage. Also, the dealership owner states that all "underwater parts" we're replaced for a peace of mind because he was going to keep it...but has decided not to. All warranties are in place except for the hull warranty which is where the price cut comes in. May I ask for some food for thought from the wealth of knowledge out there?!?!

I talked to them end of last summer about that boat. I was told because of the damage Tige would not honor any warranties, the banks will not lend on it and the price listed did not include a trailer. I did not even look into insurance.The boat does look and is "brand new". I normally don't have a problem buying something with a salvage title, when we upgrade to a RZ2 or Z3 we don't plan on getting rid of it but you never know........ And finding a buyer would be tough. We were really tempted to buy it but decided to wait.

[talltigeguy]

Dumb question if it was damaged in transit why would the underwater parts need to be changed? Did it come by way of sea? I would be very careful if it was me, read all the above posts. I think I would rather a used regulations title.

I was thinking it sounds like the boat was dropped from a crane, and it would have landed on the nose. But it seems that they are telling him that the rudder, prop and shaft were not damaged. But they replaced them any way, just to be sure it was OK.

I think that this type of salvage boat is better than a boat that has been sunk, IMHO. Once wires and stuff have been under water one time, you are never going to be the same. This boat has potential to be pretty awesome, but the insurance and financing are going to be pretty difficult.

Bring the boat to Utah, we don't have any such thing as a salvaged title for boats. Then you just state, 'minor scratches' happened at the dealership before you bought it.