Pricing on a 2007 340

T

TBird

New Member
Apr 28, 2009
65
Newport Beach, CA
Boat Info
2007 Sundancer 340
Engines
8.1 Merc
Hi,
I have an offer in on a repo 2007 340 that appears to be in pristine condition. Seems to be pretty standard with few options (ie, no satellite or upgraded engines). The bank says it won't take less than $135K--does that seem like a decent deal?

Looking forward to being a first-time boat owner. Thanks for your help.
 
I saw a 2007 in Georgia for $144K and a 2006 at the same place for $135K. neither is a repo however.
 
It is a good price. Considering the previous owner paid in the low 200's for it most likely. Without seeing the boat - it is really hard to day. Does the boat have 8.1's? If so perfect power for the boat. I would suggest a survey since you never owned a boat - Do you have a friend that knows boats - i.e. Sea Ray's well - if so have them teach you the boat. Otherwise pay someone to teach how all the systems work. It's overwhelming - to learn all the things with a new boat - specifically a 340.
 
Thanks for the fast replies. The boat has Merc 8.1s and it had a lot of pick up during the sea trial. I absolutely will have it surveyed and, although the engines are likely in good shape (I think they have < 80 hours), I'm going to have the compression checked. This is my first boat, but the sales person has been very helpful; I've been working with her for months to find the right boat and she has applied zero pressure.

I was told there are going to be a large number of repos hitting the market b/c of aggressive manufacture financing in 2006/2007 and just want to be sure I am not overpaying.
 
I think you are going to be fine with this boat for 3 to 5 years. Your value will not drop substantially - if at all if the boat is well maintained. The 340 is one of Sea Ray's most popular models.
 
Looking at a marine blue book, (A.B.O.S) low wholsale is 185K
Great boat at a great price.
 
I agree, great boat and an even better price..good luck and keep us informed...and include photos when you can.

Barry
 
Thanks everyone. Survey is this Friday--I'll take pictures and post them here. Will also probably be seeking your assistance in terms of after-market additions.
 
You are really going to like that boat ! That is a great price as well.

Most of the accessories on my boat came from the factory the way it is. Not much aftermarket stuff was needed. I thought I was going to move up after about 5 years with this one. No way. The 340 is the perfect boat for me.

Good luck, have fun.
 
The survey took place last Friday and most things checked out fine. The engines had approx 50 hours each and have not been abused. All electronics are fine and, other than needeing pain, the hull is in good shape.

The only issue is that, because the boat had been without a zinc for some time, the rudders have excessive corrosion and the trim tabs and prop struts had moderate corrosion. The rudders need to be replaced but the trim tabs and prop strut will not.

I am going back to the bank for a discount for these repairs. The broker says $3K would cover the rudders and also pay for replacing the trim tabs (which does not seem to be necessary), but that seems low to me. Would love to hear if anyone has been through replacing either of these parts. I will be making calls to local shipyards this week.

BTW, the survey says the market value of the boat is $175K and the replacementn value is $325K.
 
The struts are what concern me. Search this forum. It is not too uncommon to break a strut and lose it and the prop, not to mention damaging the hull, getting somewhat stranded, and ruining a vacation. I'd ask to get them all done and then settle for 50% due to the great price.
 
You may have more extras on the boat than you know. I bought a 2004 1 owner trade in last August and it had 30k worth of extras straight out of the factory. Sounds like a great deal. Must have the 8.1's to run properly.
George
 
Bodkin Creek George said:
You may have more extras on the boat than you know. I bought a 2004 1 owner trade in last August and it had 30k worth of extras straight out of the factory. Sounds like a great deal. Must have the 8.1's to run properly.
George
Click to expand...

I am hoping to get the original sticker when I get the manuals, etc. I can see that it has at least the additional TV option but I don't know what other upgrades it has. It does have the 8.1s.
 
Just to close the loop on this saga, I closed on the boat today and am excited about relocating it to my slip this weekend.

I want through the paperwork that was stored on the boat and it tells a sad story about the previous owners. They acquired the boat in Aug 2007 and paid $254K plus another $10K for a mechanical failure protection plan. After tax and license, the total was $283, of which $218 was financed at 7.25%. I can imagine this couple putting down what was possibly a significant part of their savings, only to find themselves unable to keep up with the $1,760/mo in financing fees, plus insurance, plus slip and maintenance expenses. It really is unfortunate and almost makes me sick to think about it. I hope this economic situation changes soon.


With the sales invoice in hand, I now know for sure what options I have (although some of these might be standard): Int D. Savoy Sandstone
Navy Canvass, 8.1 Mercs
120V/60 cycle electrical sys
TV flip down w/ DVD
Wide screen bulkhead TV
Macerator w/ seacock
generator 5.0 ECD Kohler
Radar/C-80-bracket mount
pre-rigged boat option

Anyway, will provide pictures soon.
 
Looks like a great boat. I'm glad it found a new home.
 
The banks sure are taking a hit on boats, and I sometimes wonder why they don't negotiate with the owners before they repo and loose about half their loan. They could cut the interest rate in half and probably keep a lot of the loans on the books as is.... And it is sad for the owners that like you said put down a large amount of cash and must have been so excited to get their new boat only to see it slip away so quickly....Hopefully the boat is all they lost.

You definitely got a gem of a deal on a fantastic vessel. I hope you get a lot of enjoyment from it. Upload photos when you can.

Barry
 
Good Lucks with that great boat! As far as the prior owners, I would not be surprised if that downpayment didnt come from one of those over inflated home equity lines.
 
You must log in or register to reply here.

Forum statistics

Threads
113,207
Messages
1,428,575
Members
61,109
Latest member
Minnervos
Back
Top