For many, owning a family boat is a lifelong dream, but not everybody can afford a brand spanking new watercraft. Since the pandemic began, boat sales have gone through the roof, so if you are looking to hop on the bandwagon, you might want to consider investing in a second hand boat.
Purchasing an already used boat is a fantastic way to get a top notch boat without breaking the bank. However, if you don’t know a lot about the boats, you might run into problems. Although most second hand boats are cheaper in price, there are a few downsides you should consider before spending your hard earned money. Plus, just because used boats are affordable, doesn’t mean they won’t cost you a pretty penny, especially if they require a lot of maintenance.
Pros: The Price
The obvious difference between a used and new boat is the price. You can get fantastic value when splashing the cash on a second hand boat. People are constantly upgrading their boats, so you should have lots of different options available, all advertised at different prices so you should be able to source a used boat that fits in with your budget.
If you purchase a used boat from a person who takes good care of the vessel, you can expect to pay a little extra. Boat owners who take a lot of pride in their boats are focused on maintaining their watercraft on a regular basis. Used boats in good condition will hold their value, so if it is in immaculate condition you can expect to pay extra. Brand new boats don’t tend to hold their value, which is one of the reasons so many people opt for second hand boats instead.
Cons: Motor Problems
Although most new boats for sale don’t come with an engine, some second hand boats come as part of the deal. Boat engines can have a lot of problems, so you might be forced to look for Outboard engines for sale.
If there are problems with the second hand engine, you might need to hire a professional to fix it. Some parts needed to fix the engine can cost a boat owner a small fortune, and it might take a while before the parts arrive, so your boat might be out of action for some time. If the same issues reoccur, you might have no other choice but to replace it. New engines like Yamaha outboards don’t come cheap, so you should consider hiring a boat expert to examine the vessel before you buy it. Even if you know what you are looking for, it doesn’t hurt to have a second pair of eyes to help you search for potential problems. At the end of the day, nobody wants a boat that turns out to be a money pit!
Cons: No Guarantee
If you buy a boat from a careless owner, you won’t be able to get your money back if you come across problems shortly after buying it. Most new boats come with a guarantee, so you won’t have to worry about it while the guarantee is still valid.
To avoid going over budget, you should think about tallying up the cost of the repairs in your final purchase. It might need some cosmetic work, or you might need to replace the engine, so you should incorporate all of these costs into the final price. After all of this has been completed, the total cost of the boat plus the repairs might be similar to buying a brand new boat with a guarantee. However, most sellers will have already reduced the price of the boat if there is damage that needs to be fixed.
Pros: You Can Negotiate
A lot of new boats for sale have a fixed price, so you might not be able to get a discount. However, when dealing with a second hand boat sales person or the boat owner themselves, you might be able to haggle. Most sellers advertise their boats for a certain price, but they are often willing to come down on the price. Don’t hesitate to ask for a discount, especially if the boat isn’t in great condition. The cost of maintaining a boat can encourage people to sell theirs, so you might find an owner who is desperate to sell. If this is the case, you should be able to get a reduction in the price.
If you are buying from a second hand boat sales agency, keep in mind that they will take a percentage from the price you pay. Instead of going through a “middle-man”, consider dealing with the boat owner directly. You should get a better deal by not having to pay the agency a percentage.