Just Signed/Deposited! When is Payment in Full Due?

[Cap'n Mel]

We just signed for our build and put our 10% down. I have arranged for a personal, unsecured loan for the boat so it is basically a cash sale from the perspective of the dealer. My boat will be going into production sometime this fall and the dealer expects to receive it in November or December. We won't be ice-out until April but dealer has stated they expect payment within a couple weeks of when they receive boat. They state they will unwrap it so we can inspect it and make sure all the options we ordered are on it. They will then store it for us until we can actually take possession.


So my question is - how can I thoroughly inspect and check all the operations of the boat in December when it can't be on the water for rigging and testing until April? In addition, once we actually pay for it, aren't the warranties effective from that date? Why would I want my warranty to start running 4 months before I have use of my boat? This doesn't make sense to me and when I questioned the dealer, he said that Bennington and Mercury are "easy to work with" as far as warranty and would honor the "in use" date versus the purchase date. I am skeptical.


What do you all think?

 

[tcpip95]

Work it out (on paper!) with your dealer.  I doubt they'll have any problem with warranty start dates.  Can't speak about Mercury, but Bennington will certainly honor it.  Again, get it all on paper.


Congrats on the new boat. What did you get?

 

[goldnrod24]

I paid for my previous Bennie in December 2010. Took delivery in May 2011; that's when the warranty commenced.


I don't really think you can expect a dealer to "float" that much money for 6-8 months.


YMMV

 

[SEMPERFI8387]

Can the dealer request a later delivery date? I "think" my dealer gets his shipment in around beginning of March, so we would settle within a couple weeks, then should be on water beginning of April. At least that's my plan ..... 

 

[Havasu]

I guess it comes down to whether you believe the dealer or not.  If that's what he says then I'd remind him and hold him to it upon delivery.  Probably won't be an issue.  I'm sure you're not the first to buy a boat that time of year and have to wait to test it out.  Personally, I couldn't do it.  I'd be like a kid at Christmas and would want to use it as soon as it came in.  It would be hard for me to pay for something then have to wait 4 months to use it.

 

[Cap'n Mel]

tcpip95


Here's the build sheet

 

[Havasu]

I'm sure it will be a beautiful boat.  Very nice.

 

[mattb]

I would believe warranty would start at delivery date, the day you actually take possession of, not paid for date.  If all else fails get something in writing stating such.