Should I Buy a New or Used Boat?


Hello, this is Keith the boating guy. Today we’re going to discuss whether you should buy a new or a used boat.

First of all, shop new. Before you go shopping, you’ll want to create a short list of features which you think are important.

Now let’s discuss the pros and cons of buying a new boat.

The first big pro of a new boat is better financing options, lower rates, and longer terms. The standard term for a car in the United States is five years, but the standard term for boat a 10 years. You get twice the amount of time to pay for your loan, which means a lot lower payments.

The next thing is a warranty. With a new boat, you’ll get a warranty. Often times you can get a lifetime warranty or an extended 10 year or more warranty on the actual hull of the boat so do a little research on it.

The next big thing, or the next big pro, I would say, is you can customize the boat to fit your needs and your wants. For example, do you want a particular color or a particular layout? Are there certain features that you want? Well, with a new boat, you can customize to get all of those.

And the last big pro of a new boat is trouble free operation from the very start.

The cons of a new boat:
Well, like cars, they’re going to depreciate in the first year. As a matter of fact, anything you buy new, be it a TV or a parachute or a new boat, when you walk out of the store with it, you’re going to lose 10%-15% right from the front.

The next, they cost more than a pre-owned boat. That could be a big con on buying new.

Now, let’s talk about the pros and cons of pre-owned boats:

Pros – they cost less. You can actually get a bigger boat for your money buying a used boat.

Also, if you’re willing to take a little time looking around, you may find a good boat out there at a really reasonable price from somebody who had to get rid of a boat or had medical reasons, financial reasons or whatever. I will tell you, though, all of those used boats you see in the newspaper or other places, you really have to comb through them every day to find a good deal on a used boat. Brokers are always looking and when those good deals come up; they’re gone very, very quickly.

The next thing is if you buy a used boat, I’d recommend a marine surveyor so that you can have someone come in and look at that boat for you. Because, remember this, you never know the real history of a boat, if it was maintained or if it was taken care of if it is used. Where would you find a marine surveyor? Well, there are a couple of good spots to start off with. Marinesurvey.org would be a good one to start off with, and also NAMS-cs.org is a good one.

So to recap real quick, If you are new to boating, I would highly recommend you start with a new boat by purchasing a new boat because you get better options, a warranty, and those kinds of things.

Now if you want to do a little research and you don’t mind and maybe you’re on your second or third boat, a used boat can sometimes be a good deal there.

Either way you go, good luck to you out there.

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