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Hoo

Purchase Advice - 2006 Malibu Wakesetter 247

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Hoo

Looking to pick up my first inboard.  There is a 2006 Malibu Wakesetter 247 with the hammerhead engine on craigslist (it is on consignment at a mastercraft dealer).  It looks to be in good shape.  It has 870 hours, but 5 hours ago the engine was rebuilt and transmission replaced by the dealer.  The dealer says it wasn't in an accident, but they heard a knock when they were going through it and ended up rebuilding the engine and replacing the transmission.  No warranty.  Price just dropped to $35k.  

I have a big family and the kids usually bring friends, so we want a boat that can comfortably hold at least 13 people.  Obviously the 247 fits that bill.  I love to wakeboard, but foresee a lot of surfing since it can be done in choppy water.  Also some tubing for the little kids.  

On the surface this boat looks perfect for us and is in the price range I want to spend.  Any red flags I am overlooking?  I'm pretty handy mechanically so I don't mind an older boat, but I don't want to get one that is problematic or doesn't fit our needs.  Does this seem like a good fit?  Is 870 hours on everything besides the powertrain too much?  Any thoughts appreciated.  

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shawndoggy

in this market that sounds like a great deal.  Presumably the dealer will warranty the engine/tranny for a little while?

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Hoo
2 hours ago, shawndoggy said:

in this market that sounds like a great deal.  Presumably the dealer will warranty the engine/tranny for a little while?

Unfortunately, no warranty.  Work was done over a year ago, and just 5 hours on the boat since then.  I can do a lake test and am debating having a third party mechanic inspect it.  As an alternative, I"m thinking of pushing for a 2 week warranty.  

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Eagleboy99

Hmmm... no warranty.  That would be a red flag for me.  Any decent rebuilder would at least offer something.  There is also a sticky about the Hammerhead engine on this forum.  I know they were uh... problematic at the time. At a minimum I would have a third party mechanic inspect, then low-ball them.  After all, what could a new engine/tranny cost in a boat like this?  ;)

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shawndoggy
8 minutes ago, Hoo said:

Unfortunately, no warranty.  Work was done over a year ago, and just 5 hours on the boat since then.  I can do a lake test and am debating having a third party mechanic inspect it.  As an alternative, I"m thinking of pushing for a 2 week warranty.  

Can you water test it?  I'd load the heck out of it and beat on it for an hour or so.  Take a set behind it.  Make sure everything works (power wedge especially, if it has one).  I think it is reasonable to ask the dealer to do a leakdown test and share the results with you.  I wouldn't be opposed to no warranty if the engine checks out.  

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Cazan

I’d def get at least a compression test and have a 3rd party inspection.  That’s a great deal for 247.  What the condition on the rest of the boat? Gel? Interior? Trailer? Cover?  All that stuff adds up fast if needs restored/replaced but 35k with a new engine and tranny is a good deal if it checks out.  

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Eagleboy99

Chessie Marine has an 07 for 39K.  SO maybe 35K is just okay?  I dunno...

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Cazan
34 minutes ago, Eagleboy99 said:

Chessie Marine has an 07 for 39K.  SO maybe 35K is just okay?  I dunno...

Depends on condition of the one he’s looking at. I just looked at that one for 39k and the vinyl is rough and gel looks faded and it’s 4k more.  That just looking quickly.  A new engine and transmission Is s good thing IF it checks out. 

Edited by Cazan

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Cazan

Also right now in the classified section there is a 2007 and 2008 23 LSVs for $46k and $47k...

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Hoo

Thanks all for the responses.  

In the pictures it looks good, maybe an 8/10 for vinyl and gel coat.  They say some of the vinyl has been replaced.  Dealer is closed Sunday and Monday, so I haven't been able to look in person  yet.  

Glad to see I"m not overlooking anything major.  My major concern is that the engine wasn't rebuilt right and that is why it is being sold 5 hours later because it has continuing issues.  Hopefully I can get comfortable with that risk.  

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Nitrousbird

35k for a 247 is cheap.

I'm fine with a rebuilt tranny/motor that has some hours on it.  I'd be much more concerned for a low hour rebuild.  At a minimum I'd be getting a compression & leak down test, along with an extended water test (with the boat unloaded and loaded with ballast...put through its paces).  If ALL of that checked out, the 35k gamble is worth it.

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TallRedRider

I loved my 2006 247.  Great boat.  I still miss it some days.  

I think there may be some details left out.  So the dealership had this boat in last fall and did the work, and put 5 hours on it all summer and are now trying to sell it with no warranty?  

 

As you get into a 12 year old boat, condition becomes more important.  Replacing seats, and the dozens of other little things that can break or wear out can really add up.  If everything is in good working order, that is a very nice price, IMHO.   Don't forget the trailer, as brakes, tires, bunks can also start to become a big headache on a 12 year old boat.  But if the previous owners replaced things as they got worn, you should be good.  

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shawndoggy
11 minutes ago, TallRedRider said:

 Don't forget the trailer, as brakes, tires, bunks can also start to become a big headache on a 12 year old boat.  But if the previous owners replaced things as they got worn, you should be good.  

Great point.  I'd probably plan on doing a trailer overhaul (bearings, brakes, tires).  But even so, the price is still not terrible.  Honestly I'd put anything at under $45k as in the "good deal" category in our current market.

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