buying a 2007 carver 42ss with ips joysticks

I won't be of much help and there are probably people here with more experience on the Volvo IPS. We have a 2008 Silverton 43SS in the family with the Volvo IPS and there have been several issues with RPMs not acting appropriately. One time is was a computer/software malfunction and the other time was supposedly a sensor. Because these drives debuted in 2005, a 2007 (that has been bank repoed) probable would have the first generation of software and parts that may need to be interchanged as Volvo worked out the initial kinks. The other issue is whether the boat has been run - obviously if someone has trouble paying the note, then I don't think they were using the boat a whole lot. I've also heard about some of the seals leaking on the drives, but once again, let someone with more experience give you some insight. Bottom line is that it probably is out of warranty and the IPS repairs can be costly so be prepared for that - although you are probably getting a price-break on the front end because it's a repo.