Learning how to inspect repo boats is fairly easy and being able to do a proper inspection will save you a lot of time and headaches in the long run. Some of the things that you should inspect thoroughly are as follows:
First, inspect the haul of the boat from tip to stern. You want to make sure that there are no leaks or sign that water has damaged the outside or the inside of the boat. The next thing that you want to check is the engine. You want to make sure that it will work when you take the boat out to use it. It may not be possible to check this while you are at the auction, but you can at least check the oil level, and also the color of the oil. The next thing you want to check are the appliances that come with the boat. Are they all in working condition? Also what condition are the seats and upholstery in? Have they had a lot of use? Have they been left out in the sun uncovered? Find out what will need to be replaced and how much it will cost you if you have to replace it.
Everyone knows that buying bank repo boats, is typically an excellent investment. But why is it an excellent investment? The first reason why, is because you can buy a bank repo boat for 50 to 60% over what you would otherwise expect to pay for it. This means that they can save you a lot of money. Because you are saving a lot of money, you are also saving your self from having to pay the cost of depreciation on your boat at least for the next two or three years. If you want to sell the boat after two years, you should be able to sell it for what you paid for it if you got a great discount when you bought it. The third benefit of buying a used bank repo boat, is that because it is a lot cheaper, even if you do have to finance it, you will have to pay a lot less interest on the boat over the life of the loan.