keep or sell?

[rderenzy]

Current boat - owned 2.5 years (my first boat)
1997 Sylvan 19.6 foot with 4.3 Merc - 220 hp - bowrider - 350 hours
stole it for 3.5k, probably retails at like 6-7k
its paid off

has some comesmetic problems - one big tear in the seat, outside is pretty scruffed up, trailer is pretty rickety.
boat runs hard, runs nice (gets to 50+mph)
we like the boat, like the design, setup, size, power etc
its a littly dingy in side, its 20 years old white vynal

the problems - besides the outside and inside being scuffed up -----
boat drips oil - always small amount, good handful, of oil in the bilge
a lot of times water in the bilge too...?
trim pump has water in it (mustard yellow) I suspect the braided cables on the outdrive have a pinhole
boat pulsates or "tick tick tick" when turned hard

that's it I guess, starts and runs like a top


- now the main question
Invest money into this boat to fix the steering, oil leak(water leak?) and trim fluid issue taking on water
or just sell this dam thing and get a 20k loan for a 2011+ newer boat

 

[southkogs]

All I can offer is opinion with regards to what I would do: If it runs well and suits my needs, I'd fix it and keep it. If I was feeling the bug for something new(er), then I could consider another boat ... but I'm not a guy to take a loan on something like that.

 

[rderenzy]

All I can offer is opinion with regards to what I would do: If it runs well and suits my needs, I'd fix it and keep it. If I was feeling the bug for something new(er), then I could consider another boat ... but I'm not a guy to take a loan on something like that.

Thanks for the opinion, that is all I seek - opinions thanks

 

[Grnbasser]

Owning a boat that's paid off is a huge bonus. Financing a boat carries a high interest rate and depending how many years your loan is can make for an expensive purchase. Get an estimate of your repairs and calculate what your monthly would be if you were to purchase a newer boat and then decide. I was in the same situation as you are in and I decided to go the route of having my boat fixed. My bass boat is not the prettiest but still serves my function.

 

[fishin98]

You say your basically happy with your current boat, but it needs some repairs and updating. Yet your willing to drop 20K on another used boat. Yours is paid for, why not drop another $2000 on repairs and updating and your still ahead. Just my 2cts

 

[Maclin]

In other topics you mentioned maybe having to settle for the 3.0 in that size of new/newer boat in favor of price...This one has the 4.3 already, so seems very cost effective to fix yours up to me, and enjoy the extra 1.3 liters for a while

 

[briangcc]

I'd get an estimate on the repairs and go from there. Painting can be done on the cheap - see WoodOnGlass's notes on using paint with hardener and a standard roller. Can pick/choose your color if the original doesn't do it for you any longer.

If it's doing what you want it to do, I'd keep & repair....especially to be payment free. BUT if there are others in your family, I might humbly suggest running it by them as well to see what their opinion is. Happy Admiral, happy life!

 

[Maclin]

My Admiral had stopped wanting to go out on the boat(s) a few years ago. When I finally got her to say why, the answer was "the boat stinks". And in more detailed conversations about getting a different boat this year I could tell she was really tiring of trying to enjoy what I called a project boat. She called them "strays" or "rescues", very telling to me. So what briangcc posted is pretty important, find out what others honestly think about it.

 

[rderenzy]

good stuff, thanks all

 

[rderenzy]

Im estimating about 3k-4k for repairs and i'll still have a dingy, beat up boat, that has rips in cushions, bad carpet, etc.

Now I could take that 3k, put it aside, sell my boat as is for 3.5 - i'll have 6k for a new boat.
buy a 20k boat, put that down, I'm at a loan of 14k for 6 years at 3.99 % = 200$ month, and if I pay min payments, I still only pay 1.5k in interest overall.

 

[jkust]

Just wanting to understand....the 220hp 4.3 liter is an MPI engine that came out for engine model year 2002. Do you really have a new MPI engine in that boat or did you fat finger the keyboard and have a carbed 4.3? My opinion as a boater with an at most 90 day boating window and not a project dooer is that the boat sounds like a loser and needs to go. I don't know how boat loans work but you can get a very nice boat for between 10 and 20k that is much newer depending on your criteria. It's going to be pre 2011 but will be post 2001 for sure.

 

[roscoe]

Im estimating about 3k-4k for repairs and i'll still have a dingy, beat up boat, that has rips in cushions, bad carpet, etc.

Now I could take that 3k, put it aside, sell my boat as is for 3.5 - i'll have 6k for a new boat.
buy a 20k boat, put that down, I'm at a loan of 14k for 6 years at 3.99 % = 200$ month, and if I pay min payments, I still only pay 1.5k in interest overall.

My question is how did the boat get so beat up and dingy?

If it happened after you bought it, then the new boat will likely end up the same in a few years.

 

[ezmobee]

Is this a fiberglass or aluminum hull? Sylvan made both. How is the deck? Any soft spots?

 

[rderenzy]

My question is how did the boat get so beat up and dingy?

If it happened after you bought it, then the new boat will likely end up the same in a few years.

it was dingy when I bought it, I bought it for 3.5k
seats have tears, seats are dirty and dingy, whole boat is - carpet stains, oil stained
all this was there, I take care of my things

The boat even has a water line from being somehow submerged
if you look in the back, with the engine, there is a water line around the inside of the boat a good 1.5ft up and all around

boat was poorly taken care of, and even fixes or add ons (depth finder) was poorly done

 

[rderenzy]

Just wanting to understand....the 220hp 4.3 liter is an MPI engine that came out for engine model year 2002. Do you really have a new MPI engine in that boat or did you fat finger the keyboard and have a carbed 4.3? My opinion as a boater with an at most 90 day boating window and not a project dooer is that the boat sounds like a loser and needs to go. I don't know how boat loans work but you can get a very nice boat for between 10 and 20k that is much newer depending on your criteria. It's going to be pre 2011 but will be post 2001 for sure.

it is not a new engine - its the 4.3 LX gen+ I thought it was 220, I must be wrong.
the 90 day max window is why I would leave to not spend 20k on a boat and just keep this :/

 

[rderenzy]

Is this a fiberglass or aluminum hull? Sylvan made both. How is the deck? Any soft spots?

its fiberglass - openbow
no softspots at all, super thick

 

[rderenzy]

I should get the estimate for repairs at the end of the day
its at the shop now

 

[rderenzy]

I should get the estimate for repairs at the end of the day
its at the shop now

got an appointment at the best dealer in town - action water sports
waited 3 weeks for it
dropped it off - called them after 2 days - its leaking oil, can't find leak yet, will let you know
called after 4 full days, "haven't gotten to look at it more" but probably have to pull the engine to fine the leak - understandable but no thanks, I want my boat its just a small leak. what about the throttle and the trim pump? oh we haven't looked at that yet (wtf)
"if throttle has issues, that's gonna be many many hours and can get into 1000s of dollars" (wtf wtf wtf) I know its just an adjustment, I know it
after 4 days and realizeing they maybe put 1 hour in my boat - and then that throttle speech crap, I pulled my boat from them.

back to square one
too add to my current problems - front of boat has spider cracks (both sides) very very small, can't put my finger nail in them but I know its not good.
got me looking at the rest of the bottom so I crawled as far under as I could and found this
http://forums.iboats.com/forum/gene...ne-topics/10413948-how-bad-is-this-boat-crack


I think I'm going to look for a new boat

 

[Jcris]

FWIW,
I just can't believe how some shops don't take care of business. I'm in line with fixing this boat if the hull and motor are solid. You are way ahead if you have the time and experience to do the work yourself. I wouldn't let that shop touch my boat, period!

 

[Old Ironmaker]

From what I read you probably paid for that boat what it was worth. Also sounds like you are trying to get someone to advise you get a new to you boat. Go ahead buy a newer boat. I don't know how 200 bucks a month will impact your current budget .5%, 1%, 3%, 5%? Only you know that number and must make that call.