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Join Date: May 2004
08-01-2011, 6:49 AM
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I sold my boat about a month back, 2001 wakesetter vlx for 20K. Boat was in great shape, no issues, everything runs perfect, motor is strong. I absolutely know the value was there because my phone was going nuts when I put it up for 21K. I never paid a whole lot of attention to the hour meter - didn't even check it when I bought the boat, in fact I don't even know which gauge it's on. Previous Owner told me there were about 550 hours on it and the gauge was replaced with a different one - I don't know if it shows hours low or doesn't have hour meter at all. I estimated my 2 summers with the boat at 50 hours each for a total of 650 hours so I advertised it at "approx 650 hours".
I hold the boat on good will for a guy to come down and test drive, look at it, crawl around, etc. Everything looks good, sale complete. Now he calls me last week and says he had the hours checked on the motor and they're reporting at 740-ish after he put 20 hours on it. I never deliberately lied about the hours or answered questions untruthfully. So what's 70 hours worth? He thinks I should send him 500 bucks. I really don't feel like I defrauded him or anything....if he had checked the hours before purchase and offered 19500, I would have declined. I had other very interested parties.
I feel like my only option here is to offer to buy back the boat at the selling price of 20K even with the extra hours on it and sell it to one of the other parties ready to buy. It looks like he's got it up for sale for 26500 on boattrader, so he knows the value is there too.
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Join Date: Jul 2006
08-01-2011, 6:52 AM
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If he was that worried about it he could of verified before the transaction was done.
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Join Date: Mar 2010
08-01-2011, 6:54 AM
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He is trying to work you, tell him to kick rocks. If he really wants $500 tell him to take it out of his 6k profit when he resells the boat.
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Join Date: May 2010
08-01-2011, 6:58 AM
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I'm not a lawyer but in most states used vehicles are sold "As is and without warranty" and it probably said so on your bill of sale if you used an official form. You gave the hours as an estimate in good faith. He should have done his diligence. Sucks to be him. Also, the hour meter is not federally protected like an automotive odometer. In addition to that IMHO 70 hrs is almost nothing.
That said if he threatens to sue or something just give him the $500 but have him sign something re-stating that the aforementioned sale was as-is without warranty.
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Join Date: Dec 2003
08-01-2011, 7:32 AM
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He has no ground to stand on. Don't even worry if he threatens to sue. It will go no where. Tell him to GFH.
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Join Date: Nov 2002
08-01-2011, 7:39 AM
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I would just tell him what you told us: that you estimated to the best of your ability and that you didn't intend to mislead him.
I would also tell him that even with the extra hours the price would not have changed and that you'll gladly take the boat back as you have many other interested buyers. Like you already said, this guy knows he got a deal and there is no way he brings the boat back.
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Join Date: Nov 2003
08-01-2011, 7:39 AM
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If it was a concern he should have checked it pre purchase. Its his now.
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Join Date: May 2004
08-01-2011, 7:47 AM
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Thanks for the replies, just wanted to be certain I'm not the sleezy used boat salesman here. The bill of sale was just one I found on the internet, it didn't say "as is" or anything, but it was written up without including the engine hours anyway.
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Join Date: Jul 2010
08-01-2011, 7:53 AM
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Dude you have no worries. If you send him a penny you have done yourself wrong and he wins. If you buy used items you take the chance it may or may not be as it appears. What's 70 hours anyway. No way he will sue over 500 bones.
Sent from my ADR6400L using Tapatalk
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Join Date: Apr 2007
08-01-2011, 7:53 AM
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How do you know he didn't put a 100 hours on it? What a dbag...Hopefully he just goes away! Good luck!
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Join Date: Aug 2004
08-01-2011, 8:02 AM
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It is a buyers responsibility to investigate all that before they buy it.
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Join Date: Jun 2004
08-01-2011, 8:35 AM
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You said it yourself. You would graciously refund the guy his $20k and re-list the boat, enough said. I'd apologize for the misstep, and tell the guy to get on the water the season is ending soon for some.
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Join Date: Apr 2007
08-01-2011, 9:00 AM
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Tell him to list it and sell it! Boat is sold and gone and if the new owner is that worried about it, he should sell it himself.
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Join Date: Jul 2009
08-01-2011, 9:08 AM
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I would not send him a $ or offer to buy the boat back because
1. 70 hrs on a boat that old is nothing
2. you told him the hrs you advertised were an estimate. if he was so concerned, he should have had the boat inspected and the hrs read at the engine (not the gauge) prior to purchase
3. how do you know he did not put the hrs on it himself
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Join Date: Jun 2004
08-01-2011, 11:27 AM
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His guess of his "20hours" is about as shady as it comes.......what a joke. I say you're doing the right thing offering a buy back at the sale price which is a free rental to him for the implied 20hrs.
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Join Date: Dec 2003
08-01-2011, 12:04 PM
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DO NOT OFFER HIM A BUY BACK. Its his boat now.
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Join Date: Jul 2009
08-01-2011, 12:10 PM
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If there is an hours meter that is reading something, he should be able to rely on this and not have to take the boat to get the hours checked on the engine. If the hours meter was broken or you disclosed that it had been changed and was not accurate (which appears to be the case) and you gave your best estimate, then if it were that important to him, he should have had it checked. However, if the true hours were say 1200, then I think people's opinions about this would be different.
BTW, just because something is sold "AS IS" does not give a seller the right to commit fraud. That said, fraud requires intent, which appears to be lacking in this case, but I wanted to make sure people understand this point. "AS IS" is not a license to lie.
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08-01-2011, 12:34 PM
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Like Scott said, if the hours were 1000+ then everyone might think differently. It is obvious though that you tried to accurately guess the hours and not defraud him.
It is entirely possible that your estimate was correct and either:
a. The original owner was not accurate with his hour estimation.
b. The new owner is not accurate with his hour estimation.
Either way, I don't believe you should be required to do anything for him.
DO NOT BUY THE BOAT BACK. DO NOT BUY THE BOAT BACK. DO NOT BUY THE BOAT BACK.
You don't know how he has treated the boat in his short term of ownership or if any accidents have occured.
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Join Date: Aug 2004
08-01-2011, 12:39 PM
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This is confusing...there is a lot of ishing going on..but it looks like a he said he said thing.... there obviously is not an hour meter functioning on this boat or you/he would know how many have been put on it since the old one was replaced.......in which case he should have had it verified before buying if he wanted to ........ if there is one working then he still should have had it verified unless the hours were stated in the bill of sale. I wouldn't worry about it if you were on the up n up about the 650 hrs......instead of giving him the 500 which I wouldn't, ask him if he would take 19500 (not that I would buy the boat back nor should you), if he hasn't messed up anything and the boat is in same condition you sold it. Wonder what he would say to that?
But I completely agree with the consensus .....you need to do NOTHING
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Join Date: Jul 2002
08-01-2011, 1:15 PM
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If it was under by 70 hours would he be sending you a check for $500? At his rate of placing value on the hours, only take the boat back for $142 less than he paid- since he put 20 hours on it and it is now worth that much less.
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Join Date: Apr 2002
08-01-2011, 3:06 PM
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HEhe, maybe you should tell the guy to come here & we'll let him know the situation.
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Join Date: Oct 2010
08-01-2011, 4:36 PM
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Quote:
Originally Posted by psudy
DO NOT OFFER HIM A BUY BACK. Its his boat now.
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Unless you think you could get more money for it!
Would be a good way to remedy seller's remorse!
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Join Date: Mar 2010
08-01-2011, 9:51 PM
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Just out of curiousity how could the shop even give a accurate account on the hours on that motor?
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Join Date: Jul 2011
08-01-2011, 10:27 PM
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I'm curious to know also ... I would not offer any money back. It is what is. The boat was sold "as is" there is no way for a mechanic to look at the engine and give you a perfect amount of hours.
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Join Date: Jul 2009
08-02-2011, 7:09 AM
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If that's a GM, they should be able to get the hours of the ECM. Ford GT-40, no, but I don't think Malibus used Ford GT-40s.
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Join Date: Dec 2003
08-02-2011, 8:43 AM
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Quote:
Originally Posted by Thrall
Unless you think you could get more money for it!
Would be a good way to remedy seller's remorse!
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There are no guarantees. The boat is sold now.
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Join Date: May 2004
08-02-2011, 12:35 PM
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Got it all ironed out, I think it was an initial response to some unexpected news. Thanks for the input and laughs!
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