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Old 07-24-2015, 07:21 AM   #14
Capt Kangeroo
Senior Member
 
City: Great Lakes
Vessel Name: NONE
Vessel Model: NONE
Join Date: Jan 2013
Posts: 448
You just never know about these things. I have a friend who bought a new boat & paid 300K "cash". Six months later it was snatched by a baliff because the dealer never fully paid the manufacturer for it. After posting a bond buddy got the boat back as temporary custodian until it could be sorted out by the courts. Dealer subsequently went bankrupt, he went through hell & it took years to get title back. Same thing happened to my father with a motor home that was "fully paid for" at purchase. They never found the motor home to repo and it was later found dealer had in fact paid but manufacturer was cooking books & padding inventory in order to cheat or hide from their bank for some reason.
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