Repower or throw in the towel?

sailor26 · Aug 20, 2013

last summer I bought a 1982 19' cobalt bowrider. I knew this was to be a project but have now reached a cross road because I just spun a bearing or broke a connecting rod. I am considering buying re-man block but thought I'd take a moment for a reality check.
What I like about the boat; nice size for both lake and coastal. Very solid safe hull. Can take a chop or wake without phasing it. It's comfortable and has some well made features like Teak trim in very good shape, metal in good shape. I've rewired it dash to engine and put in new gauges. Trailer is good, easy off and on.
Cons; gel coat shows age but not blistered or hazed. Below the water line has numerous nicks and scrapes that were unfortunately patched with something like boatlife, but no leaks. My biggest concern is that I noticed the transom ply was wet when I ran a new sensor line thru. (pretty much every old boat I've owned has this problem).
So, I know this is not a issue of investment and return (I know better) but more about the benefit of having a comfortable boat with a dependable power train (if I re-power).
So far, with purchase, I have about $3500. into this. (out side of a new motor) I need a top, new upholstery and misc stuff (all things i expected to pick away at over time).
So friends, what are your thoughts, new motor or a psychiatrist?

airdvr1227 · Aug 20, 2013

Re: Repower or throw in the towel?

Good money after bad. Cut away and spend that money on a newer toy.

Natesms · Aug 20, 2013

Re: Repower or throw in the towel?

My 2 cents is throw in the towel. If you just needed the motor then I'd say re-power. However with needing to gut it to redo the transom and I'm betting all the stringers and floor (not a fun project, at all), plus interior I think you could replace it with a newer boat. That transom/stringer/floor project is horrible, expensive and needed to make the boat safe if the transom is soft.

sailor26 · Aug 20, 2013

Re: Repower or throw in the towel?

What do I do with a boat that is not saleable? Where do old fiberglass boats go? I could sell some parts off it, sell the trailer, but what to do with the hull?

matt167 · Aug 20, 2013

Re: Repower or throw in the towel?

Freebie. Someone will 'buy' it..

Natesms · Aug 20, 2013

Re: Repower or throw in the towel?

Call around to the dumps. Some will take them some won't. Most have a process, such as removing all the metal, gas and oil, etc.

The other option is a "Free Boat!" on craigslist. People take anything that is "free".

Watermann · Aug 20, 2013

Re: Repower or throw in the towel?

People restore older boats all the time, lots of work yeap, it can be expensive but it won't be the 10+k to get a newer boat that will have a limited lifespan before it's in the same shape. Buy a new boat at 20 - 30k. Or you can find a donor boat with a good motor, or get a reman, replacement of rotten wood, interior, buff the gelcoat and you will have a new older boat that will last for another 3 decades.

I'm not part of the throw away and must have new to be happy society we have now days. I have 3 boats, the newest one is a 1987 and it's a donor boat for a 1970 but it already has a home when I'm done with it. Otherwise I guess you can haul your old friend that gave you many hours of enjoyment to dump.

agallant80 · Aug 20, 2013

Re: Repower or throw in the towel?

I think its the devil you know vs the one you don't. Unless you buy something newer and significantly more expensiave you are risking being in a bigger project then you have now. Now on the other hand you could find a cherry boat and have no issues. Your call if you want to flip that coin or not. If it were me I would at least look at whats out there before I sank any more money in to a boat with issues like yours.

matt167 · Aug 20, 2013

Re: Repower or throw in the towel?

Watermann said:
People restore older boats all the time, lots of work yeap, it can be expensive but it won't be the 10+k to get a newer boat that will have a limited lifespan before it's in the same shape. Buy a new boat at 20 - 30k. Or you can find a donor boat with a good motor, or get a reman, replacement of rotten wood, interior, buff the gelcoat and you will have a new older boat that will last for another 3 decades.

I'm not part of the throw away and must have new to be happy society we have now days. I have 3 boats, the newest one is a 1987 and it's a donor boat for a 1970 but it already has a home when I'm done with it. Otherwise I guess you can haul your old friend that gave you many hours of enjoyment to dump.

If he had a good engine I would agree, but with it needing a new engine + all the other work, he could be much farther ahead getting a different boat, even one still needing work but with a good engine/ outdrive, actually go up in size or to a nicer/ newer boat for the same costs or only slightly more

southkogs · Aug 20, 2013

Re: Repower or throw in the towel?

What kinda' outdrive? And is it in good working order? (don't think I missed that anywhere)

I'm wondering how much you can part out on CL (or whatever) and gain back even if you have to eventually haul the hull over to the dump.

smokeonthewater · Aug 20, 2013

Re: Repower or throw in the towel?

Personally I would scour C/L for a rotted out junker with a good drivetrain and trailer... Buy it for $200-$1000, sell the trailer, drive, and any other extras and use it to repower the boat for free, almost free, or MAYBE even a modest profit.....

If you doubt me, click on the links in my sig

crabby captain john · Aug 20, 2013

Re: Repower or throw in the towel?

Time for a newer boat I believe.....

southkogs · Aug 20, 2013

Re: Repower or throw in the towel?

smokeonthewater said:
...If you doubt me, click on the links in my sig

That was part of my question about the drive. If an OMC - I'd say bail altogether. If a Merc - Smoke's got a great point. He's pretty good with "free" boats.

greenbush future · Aug 20, 2013

Re: Repower or throw in the towel?

This sounds like an I/O powered boat?? that said, I bet you could replace the engine much cheaper than if it were an outboard. What ever the engine does cost, could you find a fully running boat for that? I would sure do my searching and at least consider the re-powering of your current boat. If you can do it for under a grand, I think it may be worth doing. Because buying a newer boat sure will run you at least 3-4 times that, and even then you aren't sure about what you will get. You also said you have a wet transom, so figure that cost in too, and I bet you still will be below what a newer one will run you. Really depends just how much you like the boat you have and if you plan to keep that boat for quite some time.

sailor26 · Aug 20, 2013

Re: Repower or throw in the towel?

It's an Alpha 1. Appears to be in decent shape. Had a new impeller last year. Not much for corrosion, paint still good.

southkogs said:
What kinda' outdrive? And is it in good working order? (don't think I missed that anywhere)

I'm wondering how much you can part out on CL (or whatever) and gain back even if you have to eventually haul the hull over to the dump.

sailor26 · Aug 20, 2013

Re: Repower or throw in the towel?

I tend to lean towards your perspective generally. I hate to throw things out and prefer to fix as much as possible. I guess what concerns me the most about this boat is the dampness I detected in the thru hole I opened up when switching out the depth finder. The plywood felt wet. So I guess there is a good possibilty the transom may be weakened? I can look further at the floors and see how that all is but don't know how to determine the extent of issues in the transom.

Watermann said:
People restore older boats all the time, lots of work yeap, it can be expensive but it won't be the 10+k to get a newer boat that will have a limited lifespan before it's in the same shape. Buy a new boat at 20 - 30k. Or you can find a donor boat with a good motor, or get a reman, replacement of rotten wood, interior, buff the gelcoat and you will have a new older boat that will last for another 3 decades.

I'm not part of the throw away and must have new to be happy society we have now days. I have 3 boats, the newest one is a 1987 and it's a donor boat for a 1970 but it already has a home when I'm done with it. Otherwise I guess you can haul your old friend that gave you many hours of enjoyment to dump.

crabby captain john · Aug 20, 2013

Re: Repower or throw in the towel?

sailor26 said:
I tend to lean towards your perspective generally. I hate to throw things out and prefer to fix as much as possible. I guess what concerns me the most about this boat is the dampness I detected in the thru hole I opened up when switching out the depth finder. The plywood felt wet. So I guess there is a good possibilty the transom may be weakened? I can look further at the floors and see how that all is but don't know how to determine the extent of issues in the transom.

Usually boats rot from the bottom up, a weak floor indicates rotten stringers which could be in bad shape anyway. If you have to gut the hull to replace stringers the floor will need replaced along with the transom. If going that deep it makes sense to replace the fuel tank and wiring.

sailor26 · Aug 20, 2013

Re: Repower or throw in the towel?

It appears a re-man block is about $1500-$1800. Then taking it in and out, new gaskets, etc. I can probably do the engine work, just never took a IO out or in. Last time I did this was with a Palmer straight six w/ direct screw.

greenbush future said:
This sounds like an I/O powered boat?? that said, I bet you could replace the engine much cheaper than if it were an outboard. What ever the engine does cost, could you find a fully running boat for that? I would sure do my searching and at least consider the re-powering of your current boat. If you can do it for under a grand, I think it may be worth doing. Because buying a newer boat sure will run you at least 3-4 times that, and even then you aren't sure about what you will get. You also said you have a wet transom, so figure that cost in too, and I bet you still will be below what a newer one will run you. Really depends just how much you like the boat you have and if you plan to keep that boat for quite some time.

dingbat · Aug 20, 2013

Re: Repower or throw in the towel?

sailor26 said:
It appears a re-man block is about $1500-$1800. Then taking it in and out, new gaskets, etc. I can probably do the engine work, just never took a IO out or in. Last time I did this was with a Palmer straight six w/ direct screw.

So now you have $5,000 - $5,300 plus your time into a $3,500 boat, at best. Find a wet transom or stringer and the boat will not be worth the paper the title is written on.

spdracr39 · Aug 20, 2013

Re: Repower or throw in the towel?

Is 1800 - 2000 all you have in the budget ? If it is, you can't replace it for that, and you like the boat then fix it.

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