It is a personal choice as to whether you will buy a new or used boat. In most cases, it is the financial implication of buying the boat that makes many a people opt to buy used ones as they are cheaper. There is nothing wrong with this so long as the person buying the boat takes the time to make sure that it is in great operating condition.
To achieve this, certain factors can be used. You don’t need to have a degree in rocket science to know of these factors as simple online research and talking to boating experts will help you make the right choice. Some of the factors that you should consider when buying used boats are discussed below.
The financial implications
Buying a boat is not the same as buying a loaf of bread so you need to look into the issue of your financing options. The best way of course is saving the money needed to buy the boat. If you had not saved and you still want to buy the boat, the next option becomes to look for other financing options such as taking a loan. The importance of this is that the option available determines how much money is available and hence you can decide on the cost of the boat you will buy. Be careful as you take a loan to ensure that it has favorable rates and you can repay it easily.
The age of the boat
Since you are buying a used boat, it is very important that you take the time to consider its age. Telling this is easy as the date of first purchase is shown on the boat’s documentation. The importance of this is that once you know the age of the boat, you can calculate the depreciation and hence negotiate to get a better price based on the depreciation. In the event where the boat is very well maintained, you may not benefit so much on depreciation.
The general condition of the boat
This is generally assessing the general condition of the boat both on the exterior and interior. There are some buyers that get carried away by good looking used boats and they forget that beauty goes only skin deep. To examine the exterior of the boat, pick up and move any items that are not fixed so as to see the area in which they have been placed. In addition, every jointed and metallic area should be carefully checked for corrosion and other forms of damage.
When it gets to the interior of the boat, the engine is the most important part to check. Should you notice that the engine is dirty, it means that it has been neglected and this is a warning sign. Grime and corrosion indicate that there is a leak somewhere. The battery should be checked to see its condition and age and make sure that you confirm that the oil is not leaking. These are some of the critical things that you should inspect but there are more. To make sure that you don’t miss out on anything, you can hire a professional to help you inspect the boat and give you a report and recommendation.
The price of the boat
Contrary to what many people think, the price of the boat is not the most important feature to consider. Once you have found a boat that has all the features you need and is in the best condition, the matter of price comes in. A used boat will not cost as much as new one but this is not to mean that it is cheap. In most cases, the condition and age of the boat will determine its price.
Most boat owners repair and repaint an old boat when they are preparing to sell it. Should the used boat be in excellent condition, expect a high asking price and be prepared to negotiate.
In the event that you like the boat but there are some issues that you would like taken care of, agree with the seller and ask if they will after sales services at their cost. Normally, these services are minor repairs and fixes that do not cost much. They can also be a good point to use to get a lower price.
These are some of the factors that you should consider when buying used boats.