Top 7 Boats Buying Strategies | Boat Buying Secrets

Best Boat Buying Strategies

You may have read some of the articles I’ve written about boat purchases over the years and suddenly forgotten everything. You have now decided that you want a boat and can afford it! Okay! Whether you decide to buy a new boat or a used boat, you can get started right away – and have fun to make sure you buy the boat in the best possible way. If you have made the right decisions about buying a bike, car, truck or even a house, this is the best time to buy your boat. Also, checkout our article the one big mistake so you don’t do this! Boat Buying and Selling Regrets.

Used Vs. New Boat

Another way of looking at it is that for the same money you would pay for a smaller new boat, you can afford a bigger used boat. To have a little more boat in your budget, you may also consider buying a used boat, but if you decide to get it, you will need to get an marine survey to show you the condition of the boat.

If you are buying a second-hand pontoon boat privately, ask the seller to provide proof that he owns the boat. There are a lot of boats that are sold to dealers because the dealership does not service them as new, so be sure to ask for service documentation when you look at used boats. To check the condition and quality of a boat you are planning to buy, you should ask a surveyor before buying.

History of the Boat

The Boat-Alert.com database combines 68+ nationwide databases into a single place so you can search the HIN History in a matter of minutes. These include records for stolen boats, marine lien claims, boating accidents, pollution incidents, auctioned boats, factory recalls, and boat manufacturers. You can get one or ask the seller to provide it to see if they have nothing to hide.

Price Ranges for Boats vs. TCO

Many boat buyers are concerned about the purchase price, but consider the total cost of ownership (TCO). Compare to other similar boat listings to get an idea if the asking price is realistic. If you have spotted at least some of the boats you like, take the price and add up how much it will cost to ensure your boat is safe and functional, and then see how that new number compares to similar boats on the market. This will help you prioritize and budget. Websites like NADAGuides can also help you find out which boats are sold at the best price in your respective markets. Hindecoider.com has a value calculator as well.

Buying a boat on Financing

Use a boat loan calculator to see how the boat fits into your budget and be sure to read the cost of owning a boat to find out the total cost. We also have an article on Budgeting Your “Boat Dollars” for the annual maintenance. Some people suggest a sailboat as your first boat but there are many other options that are available to you.

Buy Local boats with a broker

Consider working with a broker to make the process smoother and avoid common mistakes. When buying a new or used boat, remember that your local market will be key to finding your preferred model. Proper use of a boat broker will mean that they do an extensive market research and ensure that the boat you choose meets your needs and offers a fair price. When you buy your boat, working with a reputable broker can save you time and money, and the best thing is that it doesn’t cost you anything. One of the most important aspects of choosing the right broker is to keep your boats in good condition when you sell them.

If you are looking for a used boat or engine go to a private seller or boat dealer, use the following checklist. These instructions are aimed at people who want to know what questions they need to ask when buying used vessels privately. If you want to buy from a dealer read the 10 questions to ask a dealer. Go to the dealer or the boat show to see the boats up close, compare them side by side and then start with the wheels and the handing out. This applies to pontoons and deck boats as well as others, but consider the special needs of each boat and know the boat better than you.

If you live by a small lake, why not buy a PWC?

That’s all we have today, feel free to download this article as pdf here.

Read Related Articles:

• Budgeting Your “Boat Dollars”
• Oregon Boat Registration
• Best Marine Surveyors in Detroit
• How long is the USCG Certificate of Documentation? – New U.S. Coast Guard Changes
• Don’t do this! Boat Buying and Selling Regrets