In the market for a used 280, any feedback on price...

The 280 can be trailered and it is not a bad haul. It is a big load that outweighs the tow vehicle so you must be careful. Our 280 lives on a trailer at my home. Each time we use the boat it is trailered to the waterway of choice as we did not want to be stuck in only one waterway either. We use the boat often thus making us pull the 280 quite often.

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The challenge in towing this boat is getting it stopped.... moving the thing is not that tough. I would personally not tow with anything less than a diesel tow vehicle. You will want to examine each link in the tow to ensure it has the capacity to pull the weight you are throwing at it. Look at your receiver... your ball mount, you ball... each have a capacity and I would make a guess that none of them are rated to pull the 280. I have to replace the factory receiver with a new one with a capacity of 16k.... same with the ball mount and ball itself. You may also find that the 280 + optional equipment + fuel + water + trailer may exceed the 12,500. Get to a scale and check it out and be sure.

Each state has it's own laws... in my state 9'6" does require an oversize permit, oversize signage, and the having a current list of road restrictions to be carried in the tow vehicle while towing.
 
yes the polished cup holders... tube versus LCD..... pearl versus artic white...... Smartcraft versus non-smartcraft..... and there was a period where the engines were EFI not MPI.... but not sure the years..... if I remember correctly 5.0 EFI engines are 220 HP not 260 HP. Later models also have solid wood cabin tables.... versus the white laminate. No ruffles in later model interiors either.
 
Is Sea Ray listening? If so then single 496MAG HO (425HP) and bowthruster; perfecto!

BTW: generator is a must on this boat, if not for you then for the person you will sell it to in a couple years. TIAIHTSAT
 
Well, a good friend of ours owns a boat dealership, and after a long talk with him this weekend. He is offering a brand new, never been in the water boat 280 (2005) for a good price. He is a good friend and he told us that this is the best deal, which we agree on as well (my wife and myself) for the 280. We talked awhile and he says that going with this boat that still has the full manufacture warranty, that this will help us in the long run verus going with a used boat. If we get an older boat, and we experience something with a drive, we could easily have a large repair bill in no time at all. So, the payments might be a bit higher then what we wanted, but my wife is even thinking this is too good of a deal to pass up. We could probably use if for the rest of this year, and then turn around and sell the boat for the same price or more then what we paid for it say at the beginning of next year if we didn't want to keep with this boat. So, what would you do? Pass up a good deal?

280 - 2005
- never used with full manufacture warranty
- T - 5.0 w bravo III
- heat/ac
- windlass

The only negative, no gene. Boat is listed for $103k, but we could get it for $89k.
 
my thoughts for a 280DA is that the gene for me is no big deal. In the Puget Sound/Seattle climate, we do have the need for AC. I may be wrong but see no other need for the gene than AC, we have an inverter for the TV if we intend to watch the tube. But we go boating to get away from that.

I do believe the climate in Chicago would require AC during the summer and if it does, it would definitely hurt the resale. It's all in how you the boat and if you intend to make a quick resale, then haggle for the gene.
 
Well, I don't think he can go any lower then the $89k for that boat. He did suggest that we can get a portable generator later if we really need to use on the boat. He is truly a good friend, and he is trying to help us out as much as he can, and isn't trying to make any money on us at all. The boat also has a Raytheon Radar package on it, and I am getting clarification tomorrow from him on which one it is. I think the only thing he won't throw in there without paying for it would be a trailer for it.
 
This is just my opinion so remember that, I would NEVER put a portable generator on a boat. It was not built for the marine environment and is or could be a shock hazard. Maybe some other with more experience on this than my could add their opinion.
 
Yesterday, I was on the lake with our dealer in a brand new 280 with a single 496 and no genny. The list on that boat was $149K. So $89K is a very fair deal for a boat with twins and radar and that price is definitely in line with used ones on the market. The fact you would have a new boat warranty is a huge plus. If I was in the market for one, I would jump on it. Try it for a year without a generator and if you think it needs one after that, just add it on.
 
Great boat at a great price. Definately jump on it before someone else gets it. No Genset is not a problem as long as you have AC at the marina slip. GB
 
Ok, this might be a dumb question, but I am not an accounting guy... Say we take the loan and we are making payments say at $600 a month on the boat loan. If we throw down say $10k after we get a bonus this up coming December towards the princial on the loan, will our monthly payments then go down? The old simple and compound interest :smt024 If I recall correctly, the monthly payments stay the same, we just shorten the amount we make towards the loan is all.....
 
poormonkey said:
Ok, this might be a dumb question, but I am not an accounting guy... Say we take the loan and we are making payments say at $600 a month on the boat loan. If we throw down say $10k after we get a bonus this up coming December towards the princial on the loan, will our monthly payments then go down? The old simple and compound interest :smt024 If I recall correctly, the monthly payments stay the same, we just shorten the amount we make towards the loan is all.....
Click to expand...

You will have to refinance to lower your payments since I am not aware of any loan that has the option to lower payment amounts even if you put down a lump sum later on. But putting down a lump sum means a higher percentage of each future payment goes towards the principal thus lowering the overall time necessary to pay off the loan. Here is a real good on-line calculator that you can use to play "what-if games" with until your heart's content including making that one time payment you mentioned. :grin:

http://www.jeacle.ie/mortgage/ It say's mortgage calculator but it works for any type of loan. Just plug in the numbers.
 
poormonkey said:
Ok, this might be a dumb question, but I am not an accounting guy... Say we take the loan and we are making payments say at $600 a month on the boat loan. If we throw down say $10k after we get a bonus this up coming December towards the princial on the loan, will our monthly payments then go down? The old simple and compound interest :smt024 If I recall correctly, the monthly payments stay the same, we just shorten the amount we make towards the loan is all.....
Click to expand...

I believe that you are just paying down your principal when you do this and yes, you will shorten your term. Your monthly payment should not change unless you have a special type of loan. You would have to refinance with a lower note to lower your monthy payment.

If I was to get a 10k bonus, I would probably put it in my money market account to keep for an emergency. While it isn't going to earn as much interest as you pay on your boat, it is nice to have available funds.
 
We are trying to calculate out a lot of the expenses we will see on the purchase, can someone take a ball park guess on what insurance might cost us? I have read the forum about the higher deductables and all. But, say the boat is purchased at $90k. What do you think it might cost for insurance for the year?

Also, does anyone do the bi-weekly payment plan on their loan? If so, how does that work out for you?
 
Last time I got a quote for a non-trailering 2004 280DA it was for around 600 a year. It was through Allstate. I currently have State Farm for my 240SD and it is about the same. So I'll most likely go with Allstate when I move up.
 
You should really check the payment terms on your loan to ensure that you can make a downpayment without penalties. Should not be an issue. . .but you never know.

Also...verify if the boat loan will count as a "home mortgage". This is a question to your tax person; not the loan officer. I think a boat with a head and galley will qualify. . . .which would make the interest tax deductible. The only downside to this strategy is that this may make you closer to the AMT threshold, which limits your maximum deductions. (or . . .you can finance with a home equity loan).

As for insurance. . .if I had to guess. .. .$1400 per year?
Also. . you want to consider getting an umbrella liability policy from your main insurance agent. This would give you about $1-2M liability in coverage for car, home, auto, and boat for a few hundred per year. (make sure it covers the boat!!)

As for the rest of it. . . .heheheh. Nothing like the first year to figure everything out! If you are really crazy, you should get estimates for your annual maintenance.

I didn't catch if you were getting warrenties. If you don't have extended warrenties, figure on some serious change for maintenance! Especially in the first year! Oh, and figure a grand or two for upgrades. Radar, or chartplotter, or kicking stereo. . . . :thumbsup:
 
Hmmm. I just read the $600 quote for a 280DA. Wow. I must be in a high risk area. Hmmm NJ shore vs Ozark MO.

Yup. I am in a high risk area. :)
 
Yes, it is an 2005, but it has never been used and comes with the Sea Ray warranty. That was a big positive with trying to go after this boat. I will contact our insurance guy tomorrow to see what he can do as far as insurance for the boat. Let me guess, will they charge more if they hear the boat can be hualed on a trailer....
Between a slip fee, insurance, possibly getting an extended warranty, we might end up sitting at the dock the rest of the year if we get this boat.... :smt013
 
comsnark said:
Hmmm. I just read the $600 quote for a 280DA. Wow. I must be in a high risk area. Hmmm NJ shore vs Ozark MO.

Yup. I am in a high risk area. :)
Click to expand...

I would say so. Not too much to worry about at the Ozarks, oh wait, drunk drivers. :smt021
 
NYC area and i'm paying $648 a year. One thing I found out with some insurance companies is that $70k is the dividing line. When I was shopping around I was also getting quotes and it made a difference in price. At the time I thought I was being wise and money smart trying to save a couple of hundred dollars. Little did I know that I would blow that in one day on the water in gas :smt009

One thing to consider or not to consider is a home equity loan. If i'm not mistaken, If you take out a home equity loan and buy a boat with it, your home is now tied to the boat and visa versa. could be wrong though.

The 280 does qualify as a second home.

Also, you don't want to get upside down on the boat, put down enough and make your payments big enough to stay ahead of depreciation. The last thing you want to do if you sell your boat is write a check to cover the difference.

maint. is heavy and costly if you don't plan on doing most of it yourself. Factor that in now or face financial hell.

Gas, this is the one thing I didn't take seriously enough. I'm spending about $250-$400 a week on gas. Granted i'm using my boat a lot and i've already clocked over 60 hours this year. (big boaters probably laugh at my little gas bill :lol: ) but it adds up real fast. this is my first boat and I can't get enough cruising time, so if you want to take your boat out and run it, you can figure your gas bill to be higher than your note.

$10k will get you what you need to enjoy your boat. by the time you figure in everything, this is about what you will spend. At least that is about what I spent and my boat already had "everything". the first day I went into west marine, I spent about $1k on "stuff", oil, soap, brushes, this little doodade, that little clip. I don't even remember what it is I bought.

If all of the little stuff doesn't eat up your $10k, then taxes, registration and titling will. I don't know what other payed in tax, but in NYC it's 8.25%. That's nearly 10% of the cost of the boat. I wanted to personally kill 9 of the 10 people working at the DMV, the 10th was cute.

re-reading this and it seems kind of negative. But I can say it's the best money i've spent in a long time. Every weekend is like a vacation, it better be because I can't afford to go anywhere else :lol: I have a blast and my week now revolves around boating. It also makes me work harder during the week because i know I have a great weekend ahead of me and I want to feel free to use the boat and not have money decide whether or not I can. Weather does that for me.
 
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