If you are in warm states, temperatures outside might have already dropped but that doesn’t mean that you’re relegated to staying on land during these gorgeous winter months. This might be considered the boating off-season but that makes it the perfect time to invest in a new watercraft as dealerships are trying to clear out their inventory to get ready for the next model year. If you’re thinking about buying a boat this year, here are eight tips to keep in mind before you sign on the dotted line.
1. Choose New or Used
First things first — decide if you’re planning to buy a new boat, or invest in one that’s been pre-owned. Both have their pros and cons. New boats often come with a warranty and you can be sure that you’re purchasing something that won’t leave you stranded out on the water the first time you take it out, but you’re going to be paying more for the privilege of owning a new boat. Pre-owned options cost less, but it’s similar to buying a used car in that you have to be careful that you’re not bringing home a lemon.
Once you’ve decided if you’re buying new or used, move on to the next step.
2. Figure Out Your Seller
You needed to figure out the previous step first because it determines where you can go to make your purchase. For new boats, you can visit a dealership, a boat show or an auction. Dealerships, much like those designed to sell cars, will offer you a plethora of options but may charge more. Boat shows are a great place to see what’s new and what will be hitting showroom floors for the coming season, but bringing home a boat from one of these events will likely cost you a pretty penny. Auctions can be a useful tool, but if you get into a bidding war with someone, you’ll end up paying a lot more than you anticipated.
You may be able to find some pre-owned models at your local boat dealership but in most cases, you’ll be purchasing these models from private sellers.
Once you’ve decided on your seller, you’ve got one more step before you can start shopping.
3. Set Your Budget
Step three is the one no one wants to think about. You need to set a budget before you start shopping. Choose a number that’s within your budget without taking extreme measures like mortgaging your house so you can afford to get out on the water. Make sure you include things in your calculations like maintenance, fuel, docking costs and insurance (which we’ll talk about more in a minute.)
4. What Type of Boat?
Now, what type of boat do you want? You’ll need to ask yourself what you’re going to use it for. Do you just want to spend time out on the water, or are you heading out for some deep-sea fishing adventures? Do you want to tow your friends on tubes or water skis, or do you want something so large that you won’t even feel the pitch and yaw of the waves? There’s a ship available for every application and every budget. You just need to know what you’re looking for so you don’t blow your budget. In most cases, especially if this is your first boat, you’re not going to want to buy the biggest ship in the marina. Figure out what you’re going to use it for, and the right boat will come to you.
5. Don’t Neglect Your Lighting
Even if you’re not planning to spend a lot of time on the water after the sun sets, you still need to make sure that your boat’s lighting is up to snuff. If one of your navigational lights burns out, it could put you and everyone else on the water with you in danger. If other pilots can’t see you, accidents happen. If you buy a new boat, you should be in pretty good shape but make sure you inspect your navigational lights every time before you head out on the water to make sure that you’re staying safe while you’re enjoying the deep blue.
6. Stick to Off-Season Purchases
If you’ve got your heart set on a specific make and model of boat but it’s just outside your budget, consider putting off your purchase for a few months so you can make your purchase in the offseason. During the fall and winter months, you might find some fantastic deals as dealerships try to clear out their inventory to get ready for the new year’s models. You’ll be surprised how much money you can save by waiting a few months You might miss the prime summer boating months, but you’ll have the ship of your dreams ready for next summer at a fraction of the cost.
7. Schedule a Sea Trial for your Boat
You wouldn’t buy a new car without taking it for a test drive, and you shouldn’t buy a new boat without taking it for a sea trial. Get it out on the water and put it through its paces to make sure that everything is in working order and you’re making a smart purchase. If there’s something wrong with the boat, you can negotiate a lower price in exchange for making the repairs yourself, or get the seller to repair the problems before you take delivery.
8. Get Boat Insurance
Finally, before you head out on the water for the first time, make sure you have boating insurance to protect you and your passengers in the event of an accident or other incidents. Most states don’t require you to have boating insurance but you’ll have to insure it if you get a loan from the bank to make the purchase, or if you store it in some marinas. In general, it’s just a good idea to have insurance coverage because buying a boat is a fairly substantial investment that should be protected.
Looking Forward
Buying your first boat is something of a milestone in your life, and it’s not something that should be taken lightly. Take the time to make the necessary preparations before you embark on this journey.
