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Buying my first boat

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nasiraod

New member
Hi All
I am looking to buy my first boat, and I found a nice 1992 Larson(Very clean, and good condition) with a 5.7 OMC Cobra Engine. The seller mentions that the engine has low hours(250), but the engine currently does not start due to, what the seller thinks, an ignition coil malfunction. He is willing to go down in price if sold as is(down to 9000CAD). Me and my cousin are quite good at fixing cars, and it looks like Marine engines are not that different from car engines, so we are not too worried about our ability to fix it. But I have the following questions:
  1. Is it worth it?
  2. I am a bit skittish about buying anything OMC since the company has went belly up a long time ago, and parts might be hard to come by, not just for the current issue, but any other issues down the line. Am I being too cautious here? A good amount of people online are saying not to bother with OMC
    Like this gentleman: https://youtu.be/19G0GJvshzI?t=324
  3. Should I go for it, or run for the hills?

Any other thoughts or other ideas are really appreciated, and thank you very much in advance :)

BTW, this is the Engine picture:
200432376_4673148556048353_1483242607090475470_n.jpg
 
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The fact that it has the OMC Cobra makes it wort $5000 perhaps.-----You need to accept the fact that OMC drives are not popular.-----The fact that you are willing / able to do the wrenching may decide whether you want this.----Your location in Canada ?
 
racerone said:
The fact that it has the OMC Cobra makes it wort $5000 perhaps.-----You need to accept the fact that OMC drives are not popular.-----The fact that you are willing / able to do the wrenching may decide whether you want this.----Your location in Canada ?
Click to expand...
Yes I do live in Canada, BC to be exact :)
 
For the regular Cobra drives (not the cone clutch ones) most service parts are available, but on some of the later models (after 90 or 91) they started using electronic ignition and EFI and parts for those are very tough to find, if not impossible. The only solution really is to convert back to a 4bbl carb and Delco EST ignition. Seeing as how Merc powered boats are so common why make your life more difficult than it has to be? I have one and have a lot of spares just for that reason. But I bought it nearly 20 years ago.
 
bondo said:
Ayuh,.... Keep looking,..... OMC is not what you want,.....
Click to expand...
That is kinda what I am leaning towards, after all the responses here lol

louc said:
For the regular Cobra drives (not the cone clutch ones) most service parts are available, but on some of the later models (after 90 or 91) they started using electronic ignition and EFI and parts for those are very tough to find, if not impossible. The only solution really is to convert back to a 4bbl carb and Delco EST ignition. Seeing as how Merc powered boats are so common why make your life more difficult than it has to be? I have one and have a lot of spares just for that reason. But I bought it nearly 20 years ago.
Click to expand...
The only reason why I would bother because the price is quite attractive, but I think I am leaning away from the OMC now
 
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