Damaged boat, buy back, value, etc???

[JINXBASS]

I am sure a few people have read my post on my boat being in an accident. I am hoping to have a settlement amount within a few days. So, should I try to buy this boat back? What should I pay for it? I know it is a hard question to ask due to not seeing the boat but, could anyone offer any suggestions guidelines, thoughts, etc.? It is a 2012 puma FTD with dual console, hydraulic jp, pro xs 250 (900+ hours), old graphs. My intention would be to sell the boat and buy a new to me boat (really want the 4 stroke).

The damage to the boat is mainly on the bottom where the bunk brackets were bent, and the boat fell onto the brackets. The trailer is totaled, but I know where I can get one.

Any help greatly appreciated.

[Bass Cat Boats]

Generally salvage value s you’ve described extends to 30%-40% of book. Though in todays market people will pay 70% if the product is clean.

There is no standard value and comparison as damage varies greatly.

[JINXBASS]

Generally salvage value s you’ve described extends to 30%-40% of book. Though in todays market people will pay 70% if the product is clean.

There is no standard value and comparison as damage varies greatly.

Thanks, yea I know it's hard without seeing the boat for sure.

[JohnnyO]

Make sure you ask the adjuster what the buy back salvage value is. Then negotiate from there

[BASStex1988]

Unless you could get it for cheap would be hard to make any money on it. Or if you chose to fix could be a giant headache

[Bass Cat Boats]

Then there’s the aspect of the damaged title and registration, which usually eliminate financing.

[JINXBASS]

Then there’s the aspect of the damaged title and registration, which usually eliminate financing.

A good point there. I really don't want to buy it back and have to deal with it but I don't mind worki.g to get more money for the new kitty.

[FeFanatic]

In my case on my '97 PII that totalled a couple of months ago I bought it back for less than $1k. I was able to sell trailer for $2k, dash for about $350, flippin deck for $250, trolling motor, graphs, hydraulic steering, and other items for an additional $1.5k. I still have the 200 efi Merc motor for sale.

So, in my case it was worth buying back the boat and scrapping it. It involves some work and logistics to get rid of the carcass but it was worth it. So, that being said it depends on what you can salvage and sell vs. what you have to pay to get it back. Do the math and you will have a better idea of what to do.

[BASStex1988]

In my case on my '97 PII that totalled a couple of months ago I bought it back for less than $1k. I was able to sell trailer for $2k, dash for about $350, flippin deck for $250, trolling motor, graphs, hydraulic steering, and other items for an additional $1.5k. I still have the 200 efi Merc motor for sale.

So, in my case it was worth buying back the boat and scrapping it. It involves some work and logistics to get rid of the carcass but it was worth it. So, that being said it depends on what you can salvage and sell vs. what you have to pay to get it back. Do the math and you will have a better idea of what to do.

In his case the trailer was totaled and the boat was paid out probably quite a bit more being a newer boat so the buy back would of been pretty difficult to make money.

[FeFanatic]

As I posted. Do the math. The trailer is totaled but are any fenders still good? Are the tires/wheels still good? Did it have a step and is it still good? What's the value of the outboard? What's the value of the trolling motor? Jackplate? Electronics? Compartment pieces? Hydraulic steering? Switch panels? Did it have Smartcraft gauges? What's their value?

You have to take all things into consideration. Then make that decision.

[willwork4fish]

Parting out a boat is a PITA but can be worth it in the end. I recently had a boat I was going to sell for $10K and then found out the transom was bad. Took me 4 months but I sold the motor, Bob's JP, hydraulic steering, Ultrex, batteries, pumps, steering wheel, recessed TM tray, graphs/transducers and a bunch of little odds and ends and ended up with $9800. Gave the hull and trailer to a buddy who is going to try and redo the transom himself (he's helped someone do one before) and if that doesn't go well he's got a place to junk the hull and sell the trailer (which was just re-done).

[JINXBASS]

Just found out salvage value is 15k. Trailer is toast might be able to salvage 1 fender and 2 wheels. The boat would also need some repairs. The motor is in good condition but does have 900+hrs. I don't think I want any parts to do with that.

[JohnnyO]

You might be able to negotiate with that 15k value. Value the package, start with the engine and subtract from there. It might be worth it.