The question of whether to buy new or used is a difficult one.
Frankly, it does not necessarily have an easy answer either. However, both are definitely worth considering when shopping for boats – especially for first-time buyers. Being the first owner of a new boat can be great. However, used boats allow newer boaters to test the waters before eventually trading up.
If you aren’t sure what option is best for you, read on for all the information you will need to help you make your decision.
Why go for a new boat?
There are several benefits to buying a new boat. The most obvious being that you get the latest design and the latest gadgets. Popular models of many different products receive redesigns or upgrades regularly, and boats are no different. Often these redesigns benefit from years of research and testing on the previous model. New boats are also often tricked out with the latest gizmos and gadgets putting you ahead of the crowd. Often you also have options to upgrade or swap out those accessories to ensure that all your needs are met.
Next, the warranty and this is a huge benefit to buying new. Your boat will receive full warranty coverage. Modern boats are often built better than their predecessors, which mean that manufacturers feel more confident in providing a comprehensive warranty. This allows you peace of mind knowing that you are covered.
The boat business is thriving, and many models are experiencing high demand. This could mean that when you go to find a new boat to buy, your dream model may not even be available right now. However, there is no need to panic because many manufacturers offer custom options. You can order a boat built to your specifications, from hull colours to all the mod cons.
Lastly, buying from a dealership or manufacturer allows for more financing options, and it can streamline the process, consolidating costs into a singular transaction or a singular monthly transaction. Dealers and manufacturers are more concerned with the overall buying experience than private sellers. You also benefit from being the first owner, meaning that there is no previous history to uncover. Boats can last for many years if taken care of properly and so there are no concerns of any hidden problems rearing their ugly heads.
Why go for a used boat?
Used boats also come with their own benefits, with the biggest advantage being the lower price. You can search for the best deal and reinvest any savings back into the boat’s running costs. Or even put those savings to one side with a view to upgrading later. The value of boats, like many investments, does depreciate over time, and so the previous owner likely took that hit, and that means that by the time you buy the boat, the deprecation has levelled off. So you get the best price, and if you come to sell further down the line, you won’t take a loss yourself.
If you have a model in mind, but it is a little out of your budget or just simply not feasible for you, then searching for a similar pre-owned model is a great compromise. First, you can get to know the boat and whether or not this model is for you. If you decide it is, you can eventually trade up; if not, you can look into other models once you know more about your needs and what you like. There is also often more choice when looking at used boats; they have a wider variety than is offered by manufacturers or dealerships.
When going for a used boat, you have more buying power depending on the model and condition of the boat as well as your budget. In addition, you can choose how to go through with the sale. For example, you can choose between paying cash directly, using financing options or part exchange. All of these options are at your disposal when negotiating the sale of a used boat.
Now the only consideration you may need to make when buying a used boat is the warranty. Unfortunately, depending on the age of the boat, it may be outside of its warranty when you purchase it. However, this is not always the case as some warranties do last far longer than in previous years, and some are transferable with the sale of the boat. So be sure to ask and read the fine print when viewing used boats.
The boat that you get may not be brand new, but it will be new to you. A boat is a big investment, so be sure to do your research so that you know your stuff in terms of what your boat should have legally and what you are entitled to as a buyer.