New Boats vs Pre-owned Boats

New Boats vs Pre-owned Boats

Each year the majority of boats sold around the world are pre-owned boats. It is assumed that the sales dollars of used boats are 4 times more than those of new boat sales. The boat owner that buys a new boat, on average would love to keep their boat for approx 3-4 years before selling it. Usually there are always a lot of good used boats in the market, only if we have knowledge to seek them out and to evaluate them.

While selecting a pre-owned boat, one should always be familiar with the various boat brands and their respective reputations for quality, market share and length of time in business. For example, if you know, that boat is manufactured by a tried and proven boat builder who has a reputation for quality, you will have fewer worries than if the manufacturer has only been in existence for a year or two! Naturally, better made boats are going to hold their price somewhat better than lesser known boats. We should be aware with a lot of technical terms related to boat that is of the various engines. For example inboard, outboard, straight inboard, stern drive as well as their other respective drive units. If there is a certain drive or engine that is known for problems, it would probably be good to avoid. If you are the least bit unsure of this, it will pay to do your research or make contact with a knowledgeable friend in the boating industry.

If you think about it, there are certain advantages to buying a new boat versus a pre-owned boat. New boats and their engines always come with a manufacturer’s warranty so that you can be certain of your maintenance and repair costs for some period of time. On a new boat getting finance is much easier and the length of the financing period is usually longer on a new boat. Down payments are smaller or non-existent on many new boats. Of course, having that brand new feel and smell and knowing that you are the only family to use it also has considerable appeal. But hold on a sec! That appeal can be expensive, however! Boats depreciate more than 20% in their first year, on average. Many times, if you can find a year old boat in good condition, it may likely be just like a new one and at a much better price. Also, you may find a dealer with prior year models in inventory that can be bought at a discount and still have the new boat warranty, etc. It really pays to shop and to keep your options open.

Your search for a used boat should begin at the dealership of the brand of boat in which you are interested to check out their inventory or new and used boats. From there, it will pay to check out newspaper ads and the local edition of any boating magazine as well as their online version. One nice feature of any online search tool is the ability to specify a brand, year, and price category and then narrow the search to boats in you part of the country.

While shopping for a pre-owned boat there are lots of things which have to be considered. Mechanically, you need to ensure that the boat has been maintained and not abused, evaluate the number of hours on the engine if it has an hour meter. The average boat is only run about 80 hours per year of service. An engine with more than 300-350 hours can be expected to require some repair expense in the next year or two. It would pay to have the engine looked at by a qualified technician to get a professional opinion on the engine and it may be worthwhile to pay for a compression check and hookup to a diagnostic computer. Most of today’s engines employ an Electronic Control Module (ECM) computer which keeps track of many metrics on an engine. For example, by hooking up a diagnostic tool to the ECM, a technician can learn the actual engine hours, RPM’s that it has been run at, any electrical, fuel, or mechanical problems that the engine is having. All of this is quite good to know and can usually be had for a very affordable rate. That may be a fee well spent.

It is always a good idea to test drive any boat you are considering before you purchase it, whether it is new or used. All boats tend to look seaworthy when sitting on a boat rack or trailer, and you can only really tell about the adequacy for the engine’s power by driving under a load.

It’s very important for the buyer to observe the upholstery and canvas for rips, tears, and worn areas. If the boat is more than a couple of years old and has a wooden floor under carpet, be sure to check for soft spots that may indicate rotting. It should resist the probe of an ice pick, no there are chances for a problem to occur. The fiberglass gel coat surface should be free from ‘dock rash’. A few minor scrapes may be acceptable, but if they are deep enough to go through the colored gel coat, they may require some expensive fiberglass repair. Be sure to inspect the boat thoroughly.

With a little homework, the decision about whether to buy a new or a pre-owned boat will be easier and, in any event, you will be more confident in making your purchase! Have a great voyage!