Need opinions on recent purchase-did I buy a problem child

AmmoVan

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Hello all new guy here. Last week I purchased a 2004 Bennington RL 211 from a dealer. Went to the lake on Sunday and the engine alarm went off as soon as we unloaded it. Checked all fluids and started it back up. It ran fine for 10 min then the alarm went off again and motor shut off. Checked everything fluids, temp, volts, oil pressure good. Cranked it back up ran fine for 10 min then the alarms went off and it shut off again. Took it back to the dealer on Monday. Dealer calls and said a head was cracked and they fixed a few more things. The dealer is putting on a new set of heads at no cost to me and will loan me a boat for Memorial Day weekend. They are also offering to let me cancel the sale and walk away. The dealer I feel is treating me right and bending over backwards to make me happy. So long story what is your opinion, with a cracked head would you keep it or let it go back to the dealer. I don't know if there is any damage to the block or is this a common problem with 5.0 Mercruiser Stern drives? I have had one other boat and it was an outboard. So any advice would be appreciated.
 
Ammovan, I am not smart enough about motors to answer your question but I wanted to say that your dealer certainly is trying to make it right for you including giving the option of walking away.  Perhaps you could voice your concern to him and ask about extending the warranty on the motor so that you are comfortable.  There are some pretty savvy motor people on this forum  and if they suggest you cancel I would say that is probably the way to go
 
The biggest killer of inboard outboard motors is water--that had been frozen when someone forgot to winterize the engines. 

If the dealer will give you a warranty on the engine, you'd probably be okay to let him fix the motor.
 
Bamaman is exactly right about not winterizing I/O engines. That's how I got my boat. An elderly couple who owned it either forgot to winterize or didn't do it properly and the block was cracked. They ended up ordering a new engine and ended up buying a deck boat instead because they didn't want to wait for the new engine install. That's when I came along. This will be our 7th season with it..........

Ask for a warranty................
 
I all thanks for your opinion. We decided to keep it. They are going to warranty the motor and they put a new water pump, thermostat, bowl. The dealership has been great considering I bought it as is and they are putting a lot of money in it to make it right.
 
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