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Boat & Yacht Market

Should I Buy a New or Pre-Owned Boat?

Whether it benefits to buy new or pre-owned comes down to the personal preference and available finances.

New Or Pre-Owned Boat

A cleverly bought bargain might well be possible with a slightly second-hand vessel (less than 2-3 years old), while others might prefer the mint condition of a brand new craft that is sitting on the dealer’s forecourt.

Below are several points to consider in the process of deciding on new or pre-owned:

New

  • A brand new vessel with no previous mileage means no need to be concerned about pass use, winterization practices, or commissioning. There is no negative history from the past that could impact the performance of the vessel.
  • Buying new usually means more choice and not limited to what is currently available in the second-hand market. Plus, the latest model boats will come complete with the most high-tech instruments and technology, which is certain to be appreciated by those that love the latest gadgets.
  • A new buy comes complete with the manufacturer’s warranty which gives the desired protection should things go wrong within a short time of making the initial purchase. A warranty issued by the local dealership can last in the region of 1/5 years based on the type of vessel sold.
  • There are more options to rig the vessel as preferred with the most modern gear and equipment. Plus, it makes it easier to buy a boat and outboard engine combination that matches the specific needs.
  • Also, there is no need to be concerned about the prior use of the vessel and reason for the sale.

Second-hand

  • A pre-owned boat is certain to be more cost-effective in relation to the initial outlay. Plus, the original owner would have been the person to experience the 25-30% depreciation that is noticed as soon as the boat is removed from the boat dealer’s forecourt. It is possible to invest on a much larger or powerful vessel for a lot less dollars, which means the yearly cost of ownership is more attractive. Plus, there isn’t such an issue if you later decide to change to a different type or size of craft in the future.
  • The vessel is already run in and there is less need to be concerned with causing the first ding or scratch.
  • Early signs of problems with the boat or engine have already been detected, so not such an issue for the second or third owner. For any vessel that is aged 10 years plus it can benefit to invest in an out of the water survey and valuation report carried out by a qualified marine surveyor to confirm the boat is in a sound and seaworthy condition. A full survey will clearly illustrate the condition of the craft and make it possible to offer the lowest price for defects detected or walk away from the more worrying issues.
  • A pre-owned boat means the technologies and systems on board have already been tested over time. Read up on reviews to see how this specific model of craft has been able to perform since release on the market. Any poorly received boats or motors can be avoided by using the internet to conduct the necessary research.

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