Boat Repo's In Madison Alabama: The Dealers

As with many things in the marine industry, the choice boat repo's in Madison Alabama should be made partly for the reputation of the person who sells it.

A dealer with a good reputation for handling warranty claims, for not foisting off un­necessary optional gear, for finding the fairest financ­ing terms, and for being interested in his customers with an eye for getting them back for their next pur­chase — these are things to look for before you plunk down your money.

• Accept the fact (cynically) that boat repo's in Madison Alabama, filled as it often seems with hale fellows well met, has its fair share of shysters and poor managers.

Fortunately, mismanagement is more commonly the cause of screw-ups than dishonesty — fortunately, because a fool's mismanagement is easier for most of us to foresee and avoid than a clever thief's fraud.

-It may be more fun to search for the boat you want than for the dealer you like, but by the time the boat is — or isn't — delivered, you may consider the time spent checking the integrity of the builder and dealer and understanding your relationship to them to have been the better spent.

• Know what committment you are making when you make a deposit, and under what conditions you are entitled to get it back.

Money passed over as a deposit, subject to certain specific and usually stated concitions, is binding for the purchase of a boat.

If the buyer subsequently cancels his order, defaults on payment, fails to take delivery, or in any other way violates his side of that contract, then he stands to lose that deposit. In turn, if the dealer fails to deliver his boat (or delivers it after a contracted date) or conditions of the contract cannot be met (eg, the buyer cannot obtain financing), then the buyer is entitled to its return.

In fact, legally he may be responsible for money in excess of his deposit if the dealer can show he has suffered addi­tional loss.

Typically deposit money is placed in escrow pending the outcome of the transaction.

It is not, contrary to what many boat buyers seem to believe, signed over to the builder as partial payment for the ordered boat.

Also, it is not subject to interest rates although some boat repo's in Madison Alabama dealers and builders have reputedly used deposit money as investment capital.

Without ample documen­tation of the terms whereby the deposit was made, it can be very difficult for a buyer to get his money back.

("Possession is nine-tenths of the law" and all that). He should be prepared to show clear evidence that he did not break the sales contract and that the dealer did not incur expenses resulting from the original placing of the order.

Dealer policy commonly calls for returning most of the deposit as a gesture of good will or to avoid hassles. On the other hand, good will is not a promise to the buyer to return his money willy nilly of the cir­cumstances. And there are variations on this theme.


The key, then, from a buyer's position, is to have a signed contract.

Verbal statements by the dealer uncon­firmed in writing are useless. Buyers should get a copy of a sales agreement, maintain a complete record of all written correspondence, cancelled checks, receipts, lists, etc. and keep a calendar of payment dates and the boat repo's in Madison Alabama builder’s schedule.

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