What have I done ??!!

[Creekwood]

My first cruiser was also a 340. A great boat.

I don't think it was mentioned yet but that photo you posted of the engine room shows the style of exhaust prone to the water ingestion issues. They may have the proper risers installed, however, but that is not the "water lift" style muffler you'll hear referenced. All of that said, if she runs well and surveys well I would not lose sleep over it.

My '99 340 had the foredeck repaired for rot. Don't discount how expensive this repair can be should your boat survey a bit wet up there. It's very common, as mentioned. Dry Sea Rays of this age and size are pretty hard to find in my experience. Either they've been repaired, need repair or have lived their lives under cover

To be clear, the water ingestion issues were with the Horizon higher horsepower version engines that had the log style mufflers. They had different cam profiles that, combined with the log style mufflers cause the risk of water ingestion. If the boat has been used for 20 years, and is not a Horizon equipped boat, it should not be an issue at all to have the log mufflers.

 

[Gofirstclass]

When I was in the process of buying the boat we now have, I hired two surveyors. One to do the boat and all the systems and the other to do the engines and transmissions.

I arranged to meet with them over breakfasts (I bought). I explained to them that this was my first "big boat" and I was looking for them to keep me out of trouble and asked them to point out anything they thought needed repairs. That set the tone for the whole day of surveys.

They discovered a few minor things that needed to be repaired and I used those things to help negotiate the price down.

BTW, my first cruiser was a '96 330 and I absolutely LOVED that boat. You're buying a very nicely designed and built boat, but like others have said, don't fall in love with it. If there are a lot of things that need to be repaired or replaced don't be afraid to walk away.

There are lots of other 340's out there.

 

[markhpc]

When we signed final papers, and the broker left my wife and I standing on our 380 staring at each other, I wanted to throw up. That passed fairly quickly though.

Boy do I know that feeling. I'm still occasionally spooked that we are going to find a bunch of problems after we unwrap it from winter storage. At least now that feeling is tempered by the intense desire to get back out on the water after another long winter!

 

[First Timer]

One other question - I am financing about half of the purchase price of this boat. My credit union does not require a ship’s mortgage for the loan and their rate is 8.6 % for a vessel of this age. The bank I use for the business would require a ships mortgage and have no idea what their rate would be. Is it best to use a local bank, or are there companies out there that specialize in boat purchases with a bit lower rates?

 

[Stee6043]

Holy smokes...my local bank has me at around 3% on a rec vehicle loan for my boat, 12 year term +/-. You're getting fully hosed at 8.6% on a 2000. Find a new bank or credit union!!!

Shop around. I think it would be impossible for you to not beat that deal.

And having bought and financed several boats now....I have no idea what a ships mortgage is. But I can tell you that the interest on a boat loan is tax deductible so long as it has a crapper, galley and sleeping area (I think those are the requirements)...

 

[BillK2632]

One other question - I am financing about half of the purchase price of this boat. My credit union does not require a ship’s mortgage for the loan and their rate is 8.6 % for a vessel of this age. The bank I use for the business would require a ships mortgage and have no idea what their rate would be. Is it best to use a local bank, or are there companies out there that specialize in boat purchases with a bit lower rates?

Shop around, US Bank and SunTrust are big in boat loans. Plus with the Fed rate cut this week, rates will likely tick down soon.

 

[First Timer]

Holy smokes...my local bank has me at around 3% on a rec vehicle loan for my boat, 12 year term +/-. You're getting fully hosed at 8.6% on a 2000. Find a new bank or credit union!!!

Shop around. I think it would be impossible for you to not beat that deal.

And having bought and financed several boats now....I have no idea what a ships mortgage is. But I can tell you that the interest on a boat loan is tax deductible so long as it has a crapper, galley and sleeping area (I think those are the requirements)...

Got one at 4.2% - that’s more like it!

 

[Korkie]

Good job.

 

[Eluther3]

Understand your anxiety. I went from a 26 foot deck boat to a 40 foot express cruiser and spent a week wondering what I had done. But got over that and love the boat. Best thing I did was to have a professional captain teach me how to use the boat. Big difference between 26 foot single engine and 40 foot dual engine.

Don't worry, you'll do fine.

 

[dvx216]

Good luck with the jump. I went from a 230wk. to a 310Da. V drv. and it was my first survey bought boat as well. Hold your breath a little for now you are doing the right thing. I had to walk on our first choice it happens. The thing I learned from boats with some age on them is if they have really low hours on them anything that is made of rubber might look good but chances are it's shot do to age. A boat with higher hours in good maintained shape is more sound then one that wasn't used and never needed worn parts replaced.

 

[First Timer]

Well, everything went pretty well with the survey. Even though the boat has been sitting in a slip for two years with little to no use, all critical systems were in pretty good shape. The compression test read from 148 to 150 on all eight cylinders. All the moisture readings checked out OK as well. The few items that were found that needed to be addressed were as follows: Becky flush would re-prime after about 10 minutes of sitting still- So a leaking seal somewhere in the vacu flush system - The freshwater pump was leaking around the head of the pump. The shower pump would not come on and looked to be quite dirty through the clear plastic. The automatic float on the main bilge pump is faulty – but the pump did work when switch down from the helm. The foot controls for the winless are not functioning but I also work from the helm controls. The generator cranked and worked very well. The hourmeter on the generator only shows four hours. I don’t know if that is accurate or if there is a problem with the hourmeter. I am Still awaiting the results from the oil samples. we took oil samples from both engines, the generator, and both V drives. When we perform the haul out, we found the bottom paint to be in excellent condition with no blisters. The surveyor Checked the entire bottom of the boat with a rubber mallet and found no soft spots. I am just hitting the high points here – as this surveyor Was very thorough. The survey lasted from 8 AM until about 4:30 PM. The sea trial went very well and the engines ran strong. As long as nothing catastrophic comes back on the oil samples – all that’s left to do is take care of the minor maintenance items and do one hell of a deep cleaning!! Starting to get really excited – just hope this coronavirus scare passes quickly!

 

[Stee6043]

Well, everything went pretty well with the survey. Even though the boat has been sitting in a slip for two years with little to no use, all critical systems were in pretty good shape. The compression test read from 148 to 150 on all eight cylinders. All the moisture readings checked out OK as well. The few items that were found that needed to be addressed were as follows: Becky flush would re-prime after about 10 minutes of sitting still- So a leaking seal somewhere in the vacu flush system - The freshwater pump was leaking around the head of the pump. The shower pump would not come on and looked to be quite dirty through the clear plastic. The automatic float on the main bilge pump is faulty – but the pump did work when switch down from the helm. The foot controls for the winless are not functioning but I also work from the helm controls. The generator cranked and worked very well. The hourmeter on the generator only shows four hours. I don’t know if that is accurate or if there is a problem with the hourmeter. I am Still awaiting the results from the oil samples. we took oil samples from both engines, the generator, and both V drives. When we perform the haul out, we found the bottom paint to be in excellent condition with no blisters. The surveyor Checked the entire bottom of the boat with a rubber mallet and found no soft spots. I am just hitting the high points here – as this surveyor Was very thorough. The survey lasted from 8 AM until about 4:30 PM. The sea trial went very well and the engines ran strong. As long as nothing catastrophic comes back on the oil samples – all that’s left to do is take care of the minor maintenance items and do one hell of a deep cleaning!! Starting to get really excited – just hope this coronavirus scare passes quickly!

Cool! That sounds like a solid result. I would have zero concerns with the bilge/sump pumps. Those suckers are practically disposable. Especially the float switches. If you're going to keep the boat for a long time consider changing the shower sump to a pump with a "water witch" switch or something similar.

Windlass electrical can be nebulous in my experience. I might request that those foot switches get fixed as part of the sale, save yourself some aggravation. You will want the foot switches working. There is a 98.7% chance that your boats (soon to be?) windlass pressure-finger isn't working correctly meaning you'll need to bring your anchor in from the bow to manage the transition from rope to chain.

How accessible is the fresh water pump? If it's tough to get to I might also request that get repaired in the deal. The nether regions of the 340 engine room are not full-size human friendly.

 

[First Timer]

Water pump is the most accessible thing in the engine room. I actually got down in there and helped with the survey. It is tight indeed! Luckily the boat just had new batteries installed last year along with a new charger! Those batteries would be a 2 man job to change out for sure. I cant believe where they are installed!!

I am having a estimate wrote up as we speak for all of the repairs. I am also getting a very good deal on the ol' girl, so the repairs I mentioned aren't that big of a deal to me.

 

[Stee6043]

Water pump is the most accessible thing in the engine room. I actually got down in there and helped with the survey. It is tight indeed! Luckily the boat just had new batteries installed last year along with a new charger! Those batteries would be a 2 man job to change out for sure. I cant believe where they are installed!!

I am having a estimate wrote up as we speak for all of the repairs. I am also getting a very good deal on the ol' girl, so the repairs I mentioned aren't that big of a deal to me.

Swapping batteries on that 340 is a walk in the park compared to water pump impellers.

 

[First Timer]

Swapping batteries on that 340 is a walk in the park compared to water pump impellers.

 

[Robf]

Just signed a purchase agreement for a 2000 340 with 7.4’s -(747hrs). Have a recommended certified captain scheduled for a survey next week! This is quite a step up for me coming out of a 26 sun deck!!! Nervous and excited at the same time! Have a good friend with a 380 that is going up to help me bring her home. We have to lock through one dam (I’ve never locked through before) and will have a 2 hour cruise to her new home. Anyone have any suggestions of what I need to/ don’t need to do? I am having oil samples drawn for both motors and transmissions and a compression test done along with all the other items the surveyor will inspect. Like I said - nervous and anxious!!! What have I done ??!!

I owned a 2002 340, and it was a great boat. My boat had 8.1 Mercs in it, so the engine room was too tight to do any work on your own. That was my biggest issue with the boat. I agree with all the comments here regarding the survey, I have had two boat deals cancelled due to bad surveys. Money well spent in my mind as I lost $1K to avoid tens of thousands in cost later. Moisture in the decks and hull is a major concern and something you want to be sure checks out in the survey. Best of luck on the new purchase! You will love the boat if all is well!
Rob

 

[Eluther3]

Ditto on the survey. I have only owned two boats, but already had one cancel due to a bad survey. Ironically, my new boat ended up in the slip right next to the cancelled sale.

 

[First Timer]

Need help please experienced folks - please see the attached transmission oil sample reports. Please note that the boat operates flawlessly- no clank at idle shifting from forward to reverse, and no vibration through the extensive sea trial. Had 2 different mechanics say that these issues could be due to the trannys never being serviced, and that replacing the cooling cores and changing the oil could be all that is needed? The surveyor said that he was really shocked with the oil sample reports on the trannys. The samples on the generator and the 2 engines were perfect. Just need some straight shooting experienced technical advice on this without “the sky is falling” opinions. Thanks in advance!

 

[Jus the two of us]

Oil samples don't lie. I would stay away unless the price was discounted enough to cover the cost of replacement + 15% for the stuff you find out changing them. I see a lot of guys in our group that never change transmission oil. That sure looks like what has happened there. Change mine every year regardless of hrs. Its only 7 quarts of oil each and when look at how small the filter is it is money well spent. Changing oil and filters is the cheapest money I spend on the boat. A machine usually runs its best just before it blows up!!

 

[Creekwood]

Take this for what its worth (free advice is worth what you pay for it). It looks like the oil was not changed or very infrequently. the diagnosis is marked as "Alert" with recommendation to replace the coolers and change the oil/filter, not critical. I think you have a new bargaining chip to have the seller pay for the cooler replacements and oil changes and perhaps a price decrease to partially cover the risk related to future failure. Its a 20 year old boat. You are bound to run into some major repairs with 20 year old boats. A lot of people would buy a boat without doing transmission oil analysis and just update the maintenance under their own watch. Maybe talk to a mechanic that might do the cooler repair about their views on the oil samples to give you some comfort.