Weighing Your Options: New vs. Used Boat Buying

Buying a boat is a big decision and one that requires a lot of research and forethought. There’s no right or wrong way to go about buying a boat, but when it comes to new versus used, there are a few different variables to consider before signing on the dotted line. Depending on your budget, mechanical skill level, your options and personal taste, there are plenty of reasons to buy each. In this article, we’re going to evaluate the reasons for buying new, as well as for buying used. No matter what kind of vessel you purchase, protect it with a Boat Insurance policy.

Why you should buy used…

Perhaps the most obvious reason to buy a used boat is to save money. Someone else has covered the 25 to 33 percent depreciation that takes place when a new boat is towed off the dealer’s lot. 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, says Discover Boating.

Next, you won’t be the first to discover any issues with the boat. Chances are, they’ve already surfaced with the previous owner or during its initial voyages. With that in mind, you can still get a marine surveyor to evaluate the boat before buying. In fact, it’s recommended. But this way, you’ll know exactly what you’re buying if and when you choose to purchase it.

Going hand in the hand with our point above, if there are any major flaws in the design or functionality of the boat, the internet and the dealers will have found those issues already.

Finally, you can choose the best purchasing method. From a private seller to a dealer to a broker, there are various options you can choose from to ensure you get the best price.

Why you should buy new…

The most obvious reason for buying new is that the boat has no previous owners, and you won’t uncover signs of misuse over the course of your ownership. Additionally, it will be brand-new so it will come with a warranty if you purchase it from a reputable boat dealer.

Next, you can buy exactly what you want and not just what’s on the pre-owned market. You’ll be getting the latest, greatest technology — the stuff people gather to drool over, says the article. After all, you’re buying into your hobby, so why not reap the benefits of all your boat has to offer?

Finally, you won’t have to ask the hard question- why is this boat for sale? Whether it was misused, the previous owner couldn’t afford it, or they didn’t properly maintain it, none of that will worry you. You’ll have a brand-new boat (with warranty in tow) for you to enjoy.

About Mariners Insurance

Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (800) 992-4443 any time you have questions or concerns about insurance for your vessel or marine business.