How to decide which type of boat to buy?

It’s a tough call for a boat buyer, especially a first timer to choose whether to buy a new or used boat. There’s no right or wrong answer. It all depends on you: your tastes, your budget, and your mechanical aptitude. What makes your smile wider? A mint condition new prize or a smartly purchased bargain from a dealer you trust? it is up to you to determine. Here are some things to think about…

Benefits Buying a New Boat

Who doesn’t like a shiny, new toy? No need to be concerned about how the boat has been used or misused, or whether is has been properly winterized and commissioned. There is no need to investigate the past of it because you will be its first owner and writing its biography.
You can get exactly what you want and not just what’s available on the market. You’ll have access to the latest technologies and innovations.
If something goes wrong ad needs fixing, you’ll have a manufacturer’s warranty to back you up. That warranty is served by the dealer, which is a good reason why you need to buy from nearby company.
You can rig it the way you want with the latest gear selected precisely for your purpose. Unless you buy a boat-and-motor combo with the lowest-offered powerplant, it’s probably a satisfying match.
You don’t have to get an answer to the most troubling question: Why is this used boat for sale?

Benefits Buying a Used Boat

With a used boat, you get more boat for fewer dollars, lower cost per year of ownership, and less on the line if you decide a different style or size boat would better serve you.
Peace of mind in knowing that you’re not going to be the first person to scratch your boat.
Any initial bugs in boat or motor have likely surfaced and been dealt with. Get a marine survey before signing for reassurance. Marine surveyors see what you can’t and look where you won’t.
You get time-tested technologies. If a manufacturer brought out a bad boat or balky motor, the Internet and other sources will wave you off.
You can choose a style of sale—from the trade-in or used stock of a dealer, who must cover overhead but has a reputation to guard and a service bay; from a broker, who has reduced overhead costs; or from a private seller, who may be most motivated.

Costs to Expect as a New or Used Boat Owner

The expense of owning a boat, whether you buy a new or old boat, isn’t nearly as high as many people believe. The average cost of a boat, even considering the initial purchase, isn’t out of reach for most middle-class people thanks to today’s boat financing alternatives. However, there are other elements to consider, and they might differ depending on the size and type of boat you possess. That’s why creating an accurate “cost of owning a boat” calculator is practically hard. If you want a precise estimate of the true cost of owning a boat, you’ll need to consider the following factors.

Upfront Costs & Considerations

Let’s start with a list of everything you’ll need to buy up front. The cost of the boat itself is the first concern after you’ve examined the various types of boats available and selected the appropriate size and design for you and your family.

Purchase of the Boat

Some folks can purchase their boat outright. If you have the choice, this is a terrific way to go because you won’t have to pay any interest or loan servicing fees. Of course, the majority of us will need to finance the purchase.

Remember that buying a used boat can save you a lot of money up front; however, keep in mind that older boats have higher maintenance and repair needs. You also won’t be covered by a warranty.

Monthly Payments

When you finance the purchase of a boat, you must account for the monthly payments. These might vary greatly based on the price of the boat, how much money you have for a down payment, interest rates, and other factors.

Trailer

In many situations, particularly with small boats, the trailer will increase the cost of the boat. However, buying a trailer can save you money in the long term. You can save money on boat storage and marina fees if you can park your boat at home. Trailers are frequently included in the pricing of a boat-motor-trailer “package” with smaller boats. But put money aside for a moment, because with a trailer, you can go wherever you want, whenever you want, and have varied adventures on other waterways—a capability that many people would consider invaluable.

Boat Delivery

The cost of relocating a boat may need to be considered depending on where and when you buy it. When you buy a new boat from a dealer’s lot, delivery is frequently included in the price. However, if you order a new boat to your specifications or buy one at a remote place, remember to include in the cost of moving it into your calculations.

Annual Costs

Whether you’re bringing home a brand-new boat directly from the manufacturer or you’re happy to care for your freshly purchased pre-owned model, there are some fees you can anticipate. After you’ve paid for your new boat’s initial costs, you’ll want to consider the annual costs of owning a boat and perform some long-term planning, such as:

Boat insurance
Registration
Boating Licenses
Taxes
Storage Costs and Marina Fees
Equipment and Accessories
Fuel
Maintenence

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