Repossessed boats may tend to be cheaper than those boat at normal retail price. However, there are some concerns that go into buying a previously owned boat, and you should do your due diligence before making a purchase.
There are many of repo boats available at any time. There is not a specific time that is better than others to buy a repo boat.
www.yachtauctions.com is a great resource for repo boats. You may also want to try www.repoboatsdirect.com
Most companies that have loans on boats will hire private businesses or individuals to go out and repo the boat that is passed do. One company that repos boats is Marine Lenders Service.
You can buy repo boats by contacting your local finance companies or in the Autotrade magazine. You may find them on Ebay as well.
www.yachtauctions.com offers a weekly online bidding system. www.repoboatsdirect.com has an inventory that includes new, used and repo boats with fixed prices and financing available.
I was surprised at how many websites there were for buying repo boats. Try yachtauctions.com, repoboatsdirect.com, or boatboss.com. And, as always, you can always find local sellers on craigslist.org, especially if you live in a metro area.
IF its worth enough for you to keep it LOCKED up in a garage, I suppose he would want to repo it. I'm sure he and the lender appreciate you taking such good care of it. Does it have that much sentimental value?
Getting a boat that has been repossessed is a good idea if you are looking to save some money. You can try EBay, or http://www.boatboss.com/?search=Bank+Repo&all_locations=yes&catid=-999&view=ads to find repo boats for sale.
There are many places you can look online for repossessed boats. You probably want to limit your search by your area, but an example is www.yachtauctions.com.
Getting a boat that has been repossossed is a great way to save money. Ebay.com has auctions of a lot of repossossed boats available.
Diminish value would apply to any property that is worth less than it was prior to the loss. That would include motorcycles , rv's and boats. Autodamageexperts.com
The services of Repo Depot is to sell repossessed items. A person may bid on various items like cars, trucks, equipment, real estate, boats and aircraft.