It might be difficult to decide on whether you should buy a new or used boat, especially if it’s your first time. There are different factors and pros and cons to consider to make an informed decision. Here are tips that should guide you on your first boat purchase.
Should You Buy A New Boat?
Who doesn’t like a spanking brand new boat? Getting a new boat gives you a few things to worry about. You don’t need to think about it being in an excellent condition or not. There’s no need to wonder if it had been properly cared for by its previous owner or why it was sold in the first place.
A new boat also gives you exactly what you want in a vessel. On top of that, you get to enjoy the latest technology. In case your boat does give you trouble, it won’t be a pain in your head since you have a manufacturer’s warranty. You can also do whatever you want with it using the latest gear you can buy to make sure it serves its purpose.
The only thing standing in the way of most people who wish to buy a new boat is the money. Used boats obviously cost a lot more than an equivalent used or pre-owned boat. But that’s not the only negative thing about new boats. Depreciation is at 10 percent in the first year, depending on the boat’s model and make.
If you want your boat exactly the way you planned it in your head, you may need to wait for it to be built. The waiting time can be long, but if you simply want the stock boat from your local dealer, then there’s no need to wait.
Also, going for a test drive is required when you need to buy a boat. However, when you do test the make and model you want, you may likely be driving a boat with an engine setup different from the one you’ll be getting.
Should You Buy A Pre-Owned Boat?
The obvious reason why one would buy a boat is that it’s a lot cheaper. But there are pros of buying a pre-owned vessel and a lot of people think it’s a great option. For one, it’s immediately available; once you seal the deal with the seller, you’re good to go and there’s no waiting. Someone else has already covered the depreciation of a new boat.
Buying a pre-owned boat also requires you to work with a marine surveyor, who will assess the overall condition of the vessel. Unless you are extremely knowledgeable about boats, it’s a smart and helpful move to hire an assessor.
You’ll also be taking the boat out for a test drive and what you feel and see is exactly what you get. There’s also that proud feeling if you decide to make some upgrades and like what you have done.
The negative aspects of buying a used boat should also be considered. Understand that you’re getting a boat that doesn’t have a warranty to back you up in case something is wrong with the vessel. You will also find yourself spending a lot of time and money on maintenance. There’s also the possibility of finding out a hidden issue later on, despite getting the help of a surveyor. Used boats might also have a shady history, especially if it’s been sold by its first owner. That said, do your research carefully when going for a used boat.
How to Decide?
Simply, if you want the feel of a new vessel with the latest gear and warranty and without worrying about things such as maintenance and history, go for a new boat. But if you don’t mind all the negatives of having a used boat and if you want lower financial risk, go for it.