Should you buy a new or second hand boat?

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There will be upsides and downsides attached to buying either a fairly used or new product. It all depends on what you want, your budget and what is available. Some boat buyers believe it’s best to go for a 1 or 2 year old boat that a trusted dealer has on sale as the initial depreciation of the boat has already happened. You pay a premium for new.

New boats- advantages and disadvantages

It feels great to have a cloth, shoe or boat specifically made for you. There’s no past history to worry about because you are the one that will give birth to everything the item will come to be. This is not the same with buying a used boat, where you have to worry if the boat has been commissioned and winterized properly.

There are as many advantages to buying a new boat as there are disadvantages. Let’s have a look at the advantages first

Advantages

Warranty

This is one of the chief reason people end up buying a new boat, the warranty that’s attached to it is very attractive. With the manufacturer’s warranty intact, you rest easy at night knowing that should any harm come to your boat, you won’t be responsible for the overall cost of fixing up the boat. Both new boats and used boats like everything else will inevitably develop faults sooner or later, and it’s better for you when you have got a useful warranty.

You can customize to suit your taste

When buying a new boat, you have the luxury of choosing what is installed or uninstalled from your boat. You get to choose the style, features, design, layout, hull colour and upholstery colour that you want your boat to have. You won’t have to make do with another person’s specification. Whatever gear you feel will benefit you can be tailored exactly the way you want. Everything about your boat will be to your liking.

Latest technology

Opting for the new boat gives you the option of choosing from a range of boats with the latest and greatest technology. The kind of smart technology that makes you proud of your boat.

Disadvantages

More expensive

Compared to used boats, the price of new boats is always much higher. This will definitely not be a problem for you if you can afford the cost and are not planning to sell the boat off a few years down the line. But if your budget is not large and you don’t imagine using the boat for several years, you will be making a wiser decision buying a pre-loved boat. New boats like cars depreciate in the first year of purchase. Meaning, if you want to sell the boat, it will be at a price much lower than the cost price. A used boat holds its value better than a new boat.

Deposit and wait

When you order a new boat, you will be asked to leave a deposit to secure your order. If the manufacturer or dealer is not trustworthy or has financial failings, things may go wrong. Another downside with new boats is that you may have to wait after placing an order for the boat to be built and delivered to you. The only way you could escape this is if you buy a stock boat from a dealer. Dealers like marine services have a good stock of boats, but not all do.  If you don’t have the patience to wait for a new boat, then a used boat is for you.

Used boats – advantages and disadvantages

That it’s used doesn’t mean you won’t enjoy your money’s worth. You just have to be careful and smart when buying a used boat. Here are some pros and cons attached to buying second hand boats that you should be aware of:

Advantages

Less expensive

Price is the number one reason that many people opt for pre-owned boats. You can get a sound used boat at a low price that fits your tight budget. The financial risk involved is generally lower than that of new boats. Furthermore, used boats usually come fully equipped and they have cheaper insurance.

Immediately available

Unlike buying a new boat, you can immediately get on board a used boat and test out what you want to buy before making any payment. This gives you the option of hiring the services of a marine surveyor to assess the build, structure and components of the bot. With new boats, you test sail a boat that’s similar to the one you are buying but with brokerage, it’s the actual thing that you will end up acquiring that you are checking out.

Disadvantages

No warranty

Generally, used boats don’t come with a warranty, and it’s not the broker’s fault. If you buy from a dealer though, you could be given a limited warranty but that will never happen with private sellers.

Hidden issues

You can never be sure of what you are getting into, no matter how many reviews you read and how meticulous you are. The best you can do is to thoroughly inspect all the important features of the boat, including the motor and hull. Remember that there may be issues that won’t be obvious until you sail the boat.

All of these pros and cons should guide your decision when buying a boat. For a faster, affordable and efficient deal, you’ll do well to go select from the large variety of new and used boats. Scour the market and settle on what you feel most comfortable with and excited about.