Pros and Cons of Certificates

[Dropshot]

I see where people are selling their boat certificates for what seems very cheap. I see where Jay Yelas is selling a Ranger Certificate for $33K for a boat listed at around 37. What are the pros and cons of buying a certificate? Is the warrany affected?

 

[Pointer 78]

If you purchase a boat certificate for less than the what the certificate states, you must pay income taxes on the entire amount. So if you pay $20,000 for a $25,000 certificate, you'll be paying taxes on the entire $25,000. CON

I've read where many dealers don't want to deal with certificates. CON

Hidden charges. CON

Warranties are not affected. PRO

There seems to be a market for them. SEMI-PRO

If anyone is considering buying a boat certificate, contact a local dealer of that boat make and find out what the certificate entails before you buy.

 

[Guest]

I hate being in the dark about any subject but what is a certificate? Never heard of one untill now.

 

[Pointer 78]

These are often given after winning a tournament. It is a certificate good for either the entire amount of a new bass boat or an amount towards the purchase of one. In almost every case, the certificate, say for a new Ranger 519, includes boat, motor, trailer, trolling motor, and basic fish finders. Add ons such as GPS systems, lighted rod lockers,and high end motors, are usually not included and must be purchased, if you want them, over the value of the certificate.