If you want to upgrade your vessel or it’s your first time looking for one, you might be slightly overwhelmed by the options that are open to you. Buying a new boat comes with many perks such as service and a warranty, but it’s not the most economical option. You could get a great boat for a fraction of the price if you went for a used unit, but these come with a few caveats as well. Also, know that buying a used boat is not quite like buying a used car, and some of the benefits of buying a used car do not transfer to boats. So, which option is better between buying a used boat and a new one?
Pros and Cons of Buying a New Boat
The biggest benefit of buying a new boat is that you know exactly what you’re buying. No need to think about how the previous owner used the boat. No need to think about hidden flaws either. The boat will be under warranty and will get servicing for a while after your purchase, so you won’t have to worry about major components breaking down.
You do have to be prepared to spend a good chunk of money for the boat, however. Brand new boats aren’t cheap, so you might have to resort to a co-ownership deal. But, besides the price, there aren’t many bad things we can say about new boats.
If you have the means to buy new, then go for it, but make sure that you have the boat inspected before everything is finalised so that it’s up to standard and has all the features you asked for in the pre-building phase.
Pros and Cons of Buying a Used Boat
Buying a used boat could be a good option if you’re strapped for cash. One thing that boats and cars have in common is that they depreciate pretty sharply in their first five years. So, if you wait about three to five years before you buy your vessel, you might be able to cut its price almost by half.
The thing, however, is that it is not likely to be under warranty anymore, as warranties on boats are not always transferable. So that’s a major issue.
This means that you will have to inform yourself of the cost of major parts on that boat. If you want to buy a boat that has a Volvo Penta motor, for instance, we suggest you consult a Volvo Penta dealer South West and ask them how much you can expect to pay for a motor including installation. Learn about other major components on the boat as well and how much they cost with installation.
So, Which Option is Better?
Buying a brand-new boat is a better option if you have the finances and want the peace of mind that comes with it. Buying a used boat is better if you have a tight budget and aren’t worried about having to perform repairs on the boat.
Used boats can be very reliable. If you buy the vessel from a reputable seller who has taken good care of it and it passes all inspections, there is little to worry about. Just do your research and make sure that the boat won’t cost you too much to maintain and run over its lifetime.
The decision between buying a used boat and a new one is not as clear-cut as many people imagine. Both have their advantages and inconveniences, so take a long hard look at both options and take your time before you make your final decision.