PetersOpal

[Deleted User YDKXO]

The problem with that is that most manufacturers don't want the hassle of dealing direct with the public or have the resources to do it. Thats why they employ dealers in the first place. The second point is that by selling through dealers or separate sales operations, the manufacturer is one step beyond any retail laws and regulations
You may be able to buy direct from Aqua Star and take title to the boat as you pay for it but try doing the same with the likes of Beneteau or Searay for example and they'll direct you politely to their dealer list. In actual fact, the ability to deal direct with the manufacturer on the same contractual basis as you, would be a selling point in favour of that particular manufacturer IMHO

 

[Deleted User YDKXO]

Observer, I don't recall saying that the govt should step in? Of course, the govt won't step in but IMHO, the BMF, RYA and YBDSA have an obligation to make the process of buying a boat, new or used, safer. After all, the aims of these organisations are to promote boating and it's not exactly good PR if punters are losing their life savings when dealers go bust. Buying a boat is not like buying a car or other retail product simply because it involves far more money and there should be an accepted means for safeguarding buyers' money

 

[Deleted User YDKXO]

Thats usable when you're buying direct from a builder but there is no contractual relationship between builder and buyer when the buyer is buying via a dealer and no builder is going to guarantee transfer of title to part or all of a boat to a buyer based only on payments from the buyer to the dealer

 

[Deleted User YDKXO]

I deal with L/C's in my business and they are a nightmare of admin and paperwork. In fact I've recently taken the decision not to accept orders on an L/C basis from certain markets because of the problems we had so now it's deposit on order and payment before delivery for me. Er, just like the boat building industry in fact

 

[powerboats]

[ QUOTE ]
Thats usable when you're buying direct from a builder but there is no contractual relationship between builder and buyer when the buyer is buying via a dealer

[/ QUOTE ]

That depends on the contract between the builder and the dealer.

[ QUOTE ]
no builder is going to guarantee transfer of title to part or all of a boat to a buyer based only on payments from the buyer to the dealer

[/ QUOTE ]

The dealer would be due to make a stage payment to the builder.

 

[rwoofer]

This is an interesting thread.

I'm currently mid-purchase on a new boat and based on Gludy's experiences I had a thorough discussion with the dealer on how to protect my money. Basically we didn't get anywhere.

I simply don't think individuals on their own are going to get dealers to change the way they work, it's simply too much hassle for them. I think an industry wide solution is the only answer.

I've currently paid 75% of the boat cost and the remainder is in transaction. When it completes I will be sent title documents from the factory, so only a few more days of nervousness to go /forums/images/graemlins/smile.gif

 

[thailand69]

Interesting reading this thread - like many others also a bit of an eye opener /forums/images/graemlins/shocked.gif

It seems legal protection wise folk are better off buying a timeshare /forums/images/graemlins/mad.gif

It seems the way to go is stage payments, secured against a specific hull - or failing which 10% deposit and the balance on delivery and receipt of a Bill of Sale.

Anything else is just providing working capital to a dealer and / or a boat builder........and don't assume that it is simply to finance YOUR boat. "Robbing Peter to pay Paul" is a well worn financial strategy.......even by folk who intended no harm.

IMO any dealer or manufacturer who expects folk to lay out thousands of £££'s in unsecured interest free loans is either taking the p#ss or actually does need the money - "follow the money" is always a very good way of finding out what is going on with a business / person and if a company is living on financing like this (why else would it insist on this?) then they are the last people anyone should lend money to - no matter how BIG or long standing the company is or how flash their offices or how numerous their glossy adverts are. IMO hiding behind dealers is a "computer says no" strategy, only works if the other party rolls over and accepts the position.

Regarding Brokers, I would have thought someone like the RYA or a Brokers Association should be able to come up with a scheme acceptable (to solvent companies and buyers / sellers).

Does the UK use Escrow companies (ala the USA)?

 

[Deleted User YDKXO]

No builder is going to hand over part or complete title to a boat in build unless he receives part or complete payment. If the dealer does not pass on to the builder payments that the dealer receives from the buyer, then the builder is not going to pass title to the buyer. Unless there are special arrangements made, there is no contract between the buyer and the builder and, even if the dealer does pass on payments to the builder and then goes bust, the builder is not contractually obligated to pass title to the buyer for the part of the boat covered by the payments.
That is the essence of the risk taken on by a buyer who purchases a boat through a dealer