Repossessed Sailboat
Many people wish to buy a high quality sailboat but cannot afford the high cost of a new one.

Used sailboats can also be rather expensive, especially if you are purchasing the craft from a boat dealership. A repossessed sailboat may be the way for you to go.

Every year, thousands of repossessed sailboats are available for purchase. Due to the today’s sagging economy, many people have lost their jobs and may not be able to afford their boat payments. These boats have been seized by the bank once the payments have reached the default status. When a bank sells a repossessed boat, the asking price is usually the blue book value, which may still be more than you want to pay.

Other boats can be repossessed by the government if the owner is involved in illegal activities, such as smuggling contraband materials or drugs. This type of repossession is more common in places such as southern Florida and California, where the sailboat is an easy mode of transportation to Mexico, Cuba, and Central and South America. There are also boats that have been seized by the Internal Revenue Service due to tax evasion and other issues. The government has auctions occasionally to get rid of all the vehicles and other items that have been confiscated over a period of time. If a repossessed item does not sell, the government simply disposes of it. What a waste! You may be able to pick up a nice sailboat at rock bottom prices at one of these events (some experts estimate a savings of 80% to 90% compared to the regular price of these craft).

The advantage of buying a repossessed sail boat is the fact that many of these watercrafts are newer and in better condition than other used boats. When purchasing a regular used boat, the owner is selling the boat to get a newer or better model and has used the boat to the fullest. In the case of seized sailboats, the owner is still using it and if the repossession is due to a bank default, the owner has not had the boat long enough to complete a payment plan.

Another advantage that you have when you purchase repossessed boats for sale is that many state laws require that any repossessed vehicles must pass inspection before they can be resold. While many banks may try to get around this statute, any repossession items that are sold by the government have all passed this certification process.

Many used boat dealers attend these auctions so that they can pick up less expensive sailboats. While these merchants will naturally mark up the price on these craft, they may sell them for at a much cheaper rate than some of their other used boats.

While many people feel that the time and energy that it takes to attend these auctions and to win a bid is not worth it, they may want to think again. If you can purchase a newer sailboat that is in excellent condition for 80% less than it would cost you at a boat dealer, a trip to the auction site may be well worth your while.


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