Pros and Cons of Buying a Used Boat

Whether it's a small fishing vessel or a large yacht, there is an undeniable sense of freedom that comes from being out on the water.

If you love boating as much as we do, and want to get into this hobby with minimal financial risk, buying a used boat may be an option. Read on to learn more about the pros and cons of purchasing a secondhand boat.

Reasons To Buy a Used Boat

Before you start scouring the market, let's look at why you should consider a previously owned boat instead of a new one.

It is cheaper

The selling price of a used boat is less than a new one. Like with automobiles, a sea vessel's value depreciates with time and use.

Quick sale

Often, a boat owner or seller wants to get rid of a boat in a hurry. This could be due to several reasons, such as storage issues, financial difficulties, or if the seller is facing repossession.

More room for negotiation

You can usually get a better deal if the seller has a pressing need to sell. For example, a recreational boat is seen as a luxury item, so it's the first to go when the seller wants to make money fast. In addition, you can likely negotiate a better price if the boat has been on the market for a long time.

This negotiating power would not always be present at a boat dealership.

Downsides To Purchasing a Used Boat

While the purchase price of a secondhand vessel may be lower at the point of sale, it doesn't mean it won't cost you more money in the long run. Here's why:

Hidden Damage

When a seller wants to get rid of a boat quickly, they aren't likely to spend money on fixing things. And they often won't disclose something that might affect the boat's value because that may result in less money for the seller.

A lot of people buy boats without checking them over carefully. If something isn't working properly, they assume it's just cosmetic.

And sometimes, the seller doesn't tell you about problems. For example, he might say the motor works fine, but the wiring harness needs replacing. He didn't mention it because it wasn't his problem.

Contractual commitments

If you wish to personally assume ownership of a yacht, there is something else to consider. Some vendors will demand that you execute a contract committing yourself to handle everything, from extra storage to any repairs that need to be done on the boat.

Limited selection

Buying a used boat is like buying a used car or old house – there isn't always a wide range of options available. So you shouldn't limit your search for the ideal vessel to pricing. Instead, it would be best to consider what type of boat you want.

For example, if you use the boat primarily for fishing, you might want something stable enough to sit out on the water without rocking too much.

On the other hand, if you plan to spend more time boating around town, you might prefer a boat that can handle rough conditions. And if you plan to take the boat camping, you might want a vessel that can accommodate sleeping bags and gear.

Also, consider the dimensions of the boat you are looking to buy. A larger boat may be able to accommodate additional passengers, but it may not be ideal for someone who wants to travel alone.

Keep in mind that smaller boats are cheaper, making them easier to finance.

Warranty issues

It's important to remember that many older boats come with little to no assurances. This could imply that you must handle all repairs individually.

Another issue is that the length of time that a boat has been in use affects the type of warranty offered. Some boat manufacturers provide lifetime warranties, while others limit warranties to five years.

In addition to ensuring that the boat you purchase includes a warranty, it is important to understand what that warranty covers. Some warranties cover repairs, while others cover parts such as engines and motors.

Boat maintenance costs

Contemplate whether you'd like to buy a boat that requires continuous upkeep. Maintenance costs can easily run into hundreds of dollars each month.

Depending on where you live, you may find that you can avoid paying monthly fees by opting for a boat that needs less frequent maintenance.

It's also a good idea to ask the seller for the maintenance record to determine where there have been issues with the boat in the past.

What to Consider Before Purchasing a Used Boat

Before investing in a used boat, investigate the vessel and the terms of the sale. If you are not too clued up on what makes a good boat, bring an expert along to help with the inspection. Take notes while you have a look at the boat, and ensure you pay careful attention to the following:

1. Engine

Make sure the engine is running properly. Inspect the oil level if the engine isn't making any vibration. The engine should be greased with adequate oil. There are a range of common engine issues, some of which can be fixed easily and others that require more intensive repairs.

2. Hull

Check the hull for cracks or dents. This can indicate that the boat requires improvements. Check for damage on the decking surrounding the hull as well.

3. Electrical system

Look for loose wires, cracked panels, or burnt components. These concerns may signal significant electrical gremlins. This system, in particular, should be inspected by a professional.

When Should You Purchase a Used Boat?

The best time to buy a used boat is when you find a good deal. You can take advantage of seasonal pricing and shop for used boats at different times of the year to see what's available.

Keep your eye on the market and do your research so that you can make the best boat purchase for your pocket and your needs.

Wrapping up

Buying a used boat is a great way to get into the boating lifestyle. With proper research and care, you can find a great second hand boat that will last you for years and provide many hours of fun and relaxation.

Now that you know the pros and cons of buying a used boat, it's time to start shopping for the perfect boat.

Once you have made your purchase, visit A1 Auto Transport to help you move your boat to its final destination.