3 minutes ago, Bozboat said:

I agree, if you left a titled boat for repair you should get it back, maybe not immediately. We had a local seaplane repair company (yes in North Central Texas 🤷🏻‍♂️) that went bankrupt in possession of a Grumman seaplane, when the trustee tried to grab the incoming money from the seaplane owner for the repairs, the airplane miraculously became disassembled overnight. 

 The other situation I was asking about is where I leave my trade in and sign all the papers and agree to come back for delivery of my new XX, the dealer files bankruptcy before the title application hits DMV and now I’m an unsecured creditor. Personally I would take delivery on the day no signed the purchase agreement in order to lessen that risk.

That is good advice for anything.  Even on cars and trucks, if they want to do the - oh we have to prep it and you can pick it up tomorrow then I say fine I will be back tomorrow to buy it.

24 minutes ago, shawndoggy said:

even if unsecured, the difference here would be that the owner of the boat-in-need-of-warranty-work is the owner of that asset, not Tommy's.  So BK trustee / receiver shouldn't be able to assert any interest in the customer's boat.

That said, it wouldn't be unreasonable for a BK trustee to need some time to get up to speed and during that time lock down the facility (with warranty boat inside) while they figure out who owns what.  But a top priority would be to get a list of storage/repair/warranty vessels and to contact the owners and arrange time for pickup.  At least that's how it has worked in my area under similar circumstances when the local RV dealer goes belly up every five years or so.

The actual warranty/repair work may not get done but the boats will get back to their owners in relatively short-ish-but-not-immediate order.  That can be an issue where the customer's boat is substantially disassembled waiting for a part (like an "opened shoebox" waiting for a ballast tank replacement or something like that).  Not that the BK trustee will assert that the disassembled boat is owned by the BK estate, but rather may not be able to actually get the work done timely (if at all).

(scratch head... wonder if owner's casualty insurance covers "damage" resulting from incomplete repair?  Or maybe shop's liability insurance, assuming premiums get paid at edge of insolvency?)

 

I agree, if you left a titled boat for repair you should get it back, maybe not immediately. We had a local seaplane repair company (yes in North Central Texas 🤷🏻‍♂️) that went bankrupt in possession of a Grumman seaplane, when the trustee tried to grab the incoming money from the seaplane owner for the repairs, the airplane miraculously became disassembled overnight. 

 The other situation I was asking about is where I leave my trade in and sign all the papers and agree to come back for delivery of my new XX, the dealer files bankruptcy before the title application hits DMV and now I’m an unsecured creditor. Personally I would take delivery on the day no signed the purchase agreement in order to lessen that risk.

We bought a 2001 SSLXI! I appreciate all the help you guys provided. 

1 hour ago, Bozboat said:

If your boat is at a dealership for warranty work and the dealer files for bankruptcy, could there be some delay in getting your boat retrieved from the bankruptcy trustee?  

I remember a Nissan Dealer bankruptcy a number of years ago where people who had purchased but not yet taken possession of the cars got listed as unsecured creditors. (unsecured creditors are low on the list of people to get paid)   Scary stuff.

even if unsecured, the difference here would be that the owner of the boat-in-need-of-warranty-work is the owner of that asset, not Tommy's.  So BK trustee / receiver shouldn't be able to assert any interest in the customer's boat.

That said, it wouldn't be unreasonable for a BK trustee to need some time to get up to speed and during that time lock down the facility (with warranty boat inside) while they figure out who owns what.  But a top priority would be to get a list of storage/repair/warranty vessels and to contact the owners and arrange time for pickup.  At least that's how it has worked in my area under similar circumstances when the local RV dealer goes belly up every five years or so.

The actual warranty/repair work may not get done but the boats will get back to their owners in relatively short-ish-but-not-immediate order.  That can be an issue where the customer's boat is substantially disassembled waiting for a part (like an "opened shoebox" waiting for a ballast tank replacement or something like that).  Not that the BK trustee will assert that the disassembled boat is owned by the BK estate, but rather may not be able to actually get the work done timely (if at all).

(scratch head... wonder if owner's casualty insurance covers "damage" resulting from incomplete repair?  Or maybe shop's liability insurance, assuming premiums get paid at edge of insolvency?)

1 hour ago, Slayer said:

I reached that point a couple of years ago.  When I ordered my 2021, I nearly went to another dealer.  Effectively, Tommy's said don't bother calling us for service or warranty work if you buy out of territory.  Looking back, I wish I hadn't used them and sacrificed the drive time to the other dealer.  My 2022 has been there for several weeks now.  I dropped it off the last week of February to get the wireless chargers installed that didn't come with the boat when it was delivered.  I also had them replace the skins that were torn at delivery as well as soft deck that was stained at delivery.  It's not getting gel coat repaired and I'm told it will be ready for pick up next week, which is a week later than I was promised.  Next time I need anything done, I'm going to Gull Lake.  

I stopped taking mine to Tommy's Detroit, the MasterCraft dealer in Fenton, MI (Action WaterSports), those people are awesome to deal with.  Devon the service manager is VERY willing to take in Malibus and treats my 08 Wakesetter like it's his own (he actually owns a Malibu).  Take your boat to Action