Buying a Boat
Should You Look for a New Boat or a Used Boat?
Odds are, it may have taken you quite some time to save enough money, or get into a position to be able to afford your own boat. Once you have decided that a boat will fit into your budget, the next thing you should think about is whether you want to purchase a brand new boat, or a less expensive used boat. The best thing to do is do some comparative shopping, starting with new boats, and then going to used boats, and then use the knowledge you have gained in making your final decision.
Buying a used boat
Much like buying a car, with a used boat, you never really have any sure way of knowing what you are getting. If you buy new, you know that all of the pieces of the boat are new, and odds are, will still be under manufacturer warranty, in case of defect. You don’t have to take the extra time to check your boat out or do any routine maintenance; you can go straight the first day and put it in the water if you decide to get a new boat. You rarely have that option when purchasing a used boat.
If you are planning to finance your boat, you will have a much easier time getting a lender who is willing to finance a new boat, and odds are, you will get a much better, more affordable interest rate with it. You will have the opportunity to really look at what is out there on the market, and pick a boat that will serve you and your family well for years to come.
Looking to buy a new boat
If you take the time to look through the new boats on the market and decide that they just won’t fit into your boat buying budget, then you have no choice but to look for used boats. One great way to get an idea of what you are looking for in a used boat is to attend a boat show. You will be able to see many different types of boats, as well as check out their average prices, which will help you, get a better idea of what kind of used boat you are actually looking for.
If you are going to buy a used boat, you should have a marine survey did first, which will give you a much better idea of the overall condition of the boat. You can expect to pay a pretty hefty fee for this service, but it really is a good idea for all used boat buyers. You, the boat buyer, could easily overlook defects or problems with a boat, which could be quite expensive to repair. You also can’t expect the person who is selling the boat to be completely honest with you about its condition either. This is why it is so important to have a surveyor go over every centimeter of the boat, so you really do know what you are getting.
If your survey comes back with repairs that need to be done, you can use that information to try to get the seller to drop the price, or, move on to another boat completely! You have to decide whether or not you still want the boat, based on the survey results, the price, and your budget!