Buying a 320

S

Skyhigh82

New Member
Jul 13, 2009
30
Potomac, Maryland
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Looking at a 2006 320 (Bank owned) at a brokers site this weekend. On average what’s a reasonable percentage off the asking price should I offer pending a survey? Not sure if there is much negotiating room when it’s owned by a bank.
 
IMHO - Who cares what it is listed for. Make you offer based on its value, and what you are willing to pay. What have others sold for in your area?
 
Sky,

As the buyer, you make the offer with the contingencies you decide, not the other way around.

If they don’t want to meet your terms, walk out and move onto the next boat. Many are for sale.

There are some very odd repossession rules. At a specific time the financial institution must take a write-down to $0 on their books. Many boats are in foreclosure and getting boat loans are far more difficult today. If you have the cash or access to it, you are in the driver’s seat.

Normally here is how it goes with a traditional brokered sales. Once you have checked out the boat and decided you wish to make an offer you do so contingent to the boat passing a survey.

I assume we are into six figures here. The survey should technically be two surveys, one for the boat and one for the mechanicals. Sine you have no link to the ad I can’t be more specific as to what to all check. I’d want to know the person(s) doing the survey or at least have checked multiple references and associations and even a BBB check and confirm that they have insurance and are not judgment proof.

The limitations in the surveyors contact may still protect them if they mess up but if they have the proper credentials it’s more likely you have a competent surveyor. One with no references, no net worth or comes recommended via the seller is not worth having.

If the boat has outdrives I’d want them pulled to check the coupler. I’d want a compression check of the engines. I’d want the inside of the exhaust checked for corrosion. Frank talked about a cool new flexible camera that is now on the market so you don’t have to pull the manifolds to do this check.

In total this survey may cost about a grand or a bit over. This is why you don’t want to spend the money until AFTER you agree to a price and it’s a great price.

Again, you should be able to check the boat yourself and decide if you even want to make a offer.

See what your local bank claims the loan value of the boat is worth for a starting point.
 
$85K for a new 2007? That is almost stealing! I just had my offer on a 2002 320DA accepted so starting survey now!
 
Congrats on the 02. I hear that newer 320's that are repos are selling for around $100k - if that helps. That being said if you can fine the new 07 -320 for $85k go for it.
 
The 2006 320 is listed for $119K

SELLER DESCRIPTION

BEAUTIFUL SUNDANCER THAT IS WELL APPOINTED AND PRICED TO SELL!!! SHE IS POWERED BY TWIN FRESH WATER COOLED 350 MPI S AND A KOHLER GENERATOR WITH ONLY 290 HOURS. SHE FEATURES A RADAR ARCH A FULL ENCLOSURE, A WELL APPOINTED HELM WITH A RAYTHEON C-80 CHART PLOTTER, DEPTH SOUNDER, RADAR COMBO, MERCURY SMART-CRAFT GAUGES, VHF HAILER, STEREO REMOTE, REMOTE SPOTLIGHT, POWER WINDLESS, ROOMY HELM SEAT, REAR CLUB SEATING, COCKPIT REFRIGERATOR AND SINK, PASSENGER LOVE SEAT, VERY CLEAN CABIN, OFFERING FORWARD V-BERTH, REAR SLEEPING AREA, STARBOARD SETTEE, WELL APPOINTED GALLEY, ENTERTAINMENT PACKAGE WITH FLAT SCREEN TV, DVD, AND STEREO, ENCLOSED HEAD WITH VACU-FLUSH TOILET, CLIMATE CONTROL, AND MORE!!! BANK OWNED VESSEL; PRICED TO SELL!!! WON T LAST LONG!
 
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I thought the 350 MPIs would have been a step up on that boat in 2006?

Isn't the 350 a 300 hp engine, the standard was twin 260hp engines.

Yep, I was right thanks for the link Presentation.
You posted it at the same time, don't you just hate that (Grin)
 
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Sky,
I just closed on my 2006 320 a month ago. My deal involved a trade on a brokered boat. I paid $85K in cash plus my boat which I valued at $35K or $120K. My 320 was equipped a bit better than the one you are considering with 6.2L engines, 3 Flat Panel TVs and only 55 hours. The dealer has listed my old boat for $24K which puts the equivalent value I paid for the boat somewhere between $105K and $110K to give you a benchmark.

I tried to check the NASD value on my boat today and I could not access the site where I could easily a month ago. Since I got a loan for the cash difference the bank looked at the NASD value at the time which was $20K more than I was paying. I suggest you try to get a NASD value or some other recognized valuation guide value for the boat before you make an offer since I believe the bank is most likely using that as the basis for setting the price. Hope this helps.
 
chuck1 said:
I thought the 350 MPIs would have been a step up on that boat in 2006?

Isn't the 350 a 300 hp engine, the standard was twin 260hp engines.
Click to expand...

Not with V-drives.

With v-drives the 350 / 5.7's were the smallest engine you could get.

I am a fan of v-drives.

However keep in mind v-drives mean lower top end speed, more fuel consumption, bow high running angle, particularly in this vintage 320, its known as a real ass dragger with v-drives, oh and working on the generator or impellers is real difficult.

It does not sound like I like v-drives reading that. Actually I do if you boat in salt water.
 
Assuming you want this boat, are OK with the bow high running angle of a 320 with v-drives, its late fall, not spring, it’s got the smaller engines, 290 hours, it’s been repossessed and I assume you go over it with a fine toothed comb and find no major issues I would suggest your offer not exceed $100,000 even contingent on passing a marine boat and marine mechanical survey that you hire and pay for.

Oh, have you driven a 320 Sundancer with v-drives? Make sure you are OK with that running angle. I did and maybe it’s something you get use to but I found it uncomfortable to look forward.

PS: Sorry if you own a 320 Sundancer and are upset by my above suggested market value. For what it worth the boat is worth far more, it’s just not likely to sell for more in today’s depressed market.
 
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The 320 run's just fine, outdrive and V-drive boats run a bit different - but run properly, the angle is not unusual or uncomfortable.

S
 
Presentation said:
...PS: Sorry if you own a 320 Sundancer and are upset by my above suggested market value...
Click to expand...

No feelings hurt here since that would be the amount I would tell him to offer based upon the higher hours and smaller engines compared with mine.

Another thought would be to go to the bank and ask what is the maximum amount they would be willing to loan you on the boat. Divide that number by .7 to .8 and that might be a good indication of the price they would take for the boat.
 
The rule of thumb I always heard when buying boats is "never buy the smallest engine(s) offered".

I have also never heard the statement "My boat has too much power".

For $100K, I like the idea of seperate hull and mechanical surveys.
 
Presentation said:
Oh, have you driven a 320 Sundancer with v-drives? Make sure you are OK with that running angle. I did and maybe it’s something you get use to but I found it uncomfortable to look forward.
Click to expand...

I have owned both a 280 and my current 320 and I feel the 280 is harder to see out than the 320. The 280 I was always looking directly at the window frame above the window, and if I was to adjust the seat down it was uncomfortable sitting location for me plus there is just no place for any electronics so I was forced to place it on the top of the helm, blocking even more visible area. In my 320, I can easily sit down on the helm seat the entire time coming up on plane and at cruise. If you understand the concept in trim tabs, then you will have no problem with this boat. If you don't understand trim tabs and when to use them and yes, it is ok to use them at cruise, then you will feel coming on plane the boat is very bow high.

Drive a 320 for a little, each boat has there own sweet spot and area they like to run. The 280 is a faster boat and needs speed to really handle well and get the best fuel consumption. In my opinion, since we spend a lot of time off shore, a 280 is a bad choice for this use. Like I mentioned it needs speed to handle correctly and get the best fuel consumption , larger than 2-3 ft seas it does not work real well. Now I am not trashing the 280 because I loved that boat but for our needs it was not what we needed.

The 320 handles larger seas better, heavier boat and will plane slower, and gets more range between fuel ups even with its .90 MPG ( measure it whenever we do out and that is the avg we get).

The interior room and the cockpit room is where you will really feel the difference in this boat compared to others. In our opinion, this boat is large enough for a week or more away and is still easy enough to handle for quick weekends at the island.

No room in the bilge? Have you even worked on a car lately like my 2004 F-150 or BMW we own. Talk about no room to do anything. I guess it is all relative but even though it is tight, it is not as bad as a lot of people are making it out to be. If a tech can get to everything , then stop your belly aching. Either figure it out or pay someone to do it, what is the big deal. I haven't seen any boat that doesn't have some 'thing' that can't be reached and is impossible to work on until you figure it out. I have replace impellers and worked on the gen, not a big deal really.

I usually don't respond to threads with a negative outlook and just ignore the uninformed or misguided but I thought it was necessary since you are looking to purchase this boat and the thread was getting very negative. I didn't want you to think everyone has the same opinion as SOME of the post in this thread. It is a great boat and you will enjoy her very much.

Oh yeah....check check check the manifold, riser and elbows for corrosion. If you take only one thing from my post, check the manifold, riser and elbows for corrosion. This could end up costing you a new long block and about $12,000 to repair if they are corroded. Recently went through this under warranty (thankfullly) so my portion was minimal. Any more questions, just ask.
 
We sold my 07 320 for $135 last fall, i believe sold it in the spring of 09 for $ 125. It had 85 hours, fully loaded, c80 with radar, bow thruster, 2 tv's and it had the captains plus full warranty until 2013. THere are some real nice low hour 320's out there which can be had for $110. It's also a good feeling to talk with the owners of these boats, you can get a feel for how they were cared for. You cant get that on a repo boat which i think holds value.

We had no problems with riding angle on the boat. she had 350 mags which are 300 hp. was not a fast boat but very comfortable ride. we cruise at 23 mph 3600 rpm. top speed was about 34 mph.

and yes - there is no room to work in the bilge, very tight with the v drives.
 
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