Moneyadviceblog » Wealthtitle_li=Investmenttitle_li=Money » Buying A Used Boat: What You Should Know

Buying a boat is a big investment that should not be neglected. In addition to the money involved, you also have to spend time on the necessary checks and inspections before buying. That’s why it’s important to know the key points before embarking on this project. Here’s a closer look.

Why consider buying a used boat?


It is quite possible to sail and enjoy the joys of boating without spending excessive money on a new boat. Indeed, used boats are much cheaper, allowing you to save considerably. This will also prevent you from going over your budget. This option is also interesting if this is your very first boat purchase.

It allows you to test sail first, even if you want to buy a new boat later. Used yachts also have the advantage of being less expensive in terms of storage and insurance. There are various models of boats on the used boat market. This is your opportunity to find the perfect boat and buy the boat of your dreams at a lower price.

Buying a used boat: for what purpose?

Before rushing blindly into the purchase of a model, first, determine the future use of your boat. Do you want to enjoy a good time on the sea with family or friends and admire the coastline? A simple RIB, an open hull, or a cabin boat may suit you. Are you passionate about water sports and would like to practice them frequently? It is recommended to opt for a pleasure boat. Depending on your taste, there are plastic or fiberglass models.

If you like to go out on the water, an outboard model or a luxury yacht will do the trick. Finally, if you plan to fish with your used boat, you should consider a cabin boat with a large cockpit, a semi-rigid, or a trawler. The best thing is to buy it from a fisher who can also advise you on the subject.

What is the budget?

In addition to the net price of the boat, you should also be aware of the annual costs that the purchase will generate. When you establish your budget, you should also take it into account.

    • Fuel: motorboat always refers to gasoline or diesel. You must therefore include this expense in your budget.
    • The maritime passport: the price varies according to the length and power of the boat.
    • Port costs: winterization, dock, trailer, etc.
    • Maintenance costs: careening, oil changes, painting, waterproofing, greasing of steering components, change of anodes, engine and thermal propulsion maintenance, etc.
    • Insurance: which varies according to the size of the boat.

What criteria to consider?


Before visiting the used boat:

    1. Ask for photos of details such as the lockers, engine compartment, etc., with their date of purchase and reference. You will only proceed to the visit if the boat interests you.
    2. On the first visit, look at the boat’s general condition, size, and cleanliness.
    3. Inspect the exterior (hull, cabin, etc.) thoroughly. If you want to continue your visit, go into a little more detail.

You should also check:

    • Check the engine, which is the key to the boat’s proper functioning. Even if it is clean, it does not mean it is free of defects. Does the engine have oil or water in the bilge? This is a bad sign. Also, don’t forget to take information about the engine’s power. You’d better stop trading if you’re not convinced about the engine’s condition.
    • Ask the seller for all maintenance invoices. A serious boater keeps the invoices for overhauls and the purchase of changed components (filters, oil, turbines, belts, etc.). This gives you an overview of the repairs that have been done before.
    • Check the condition of the electronics and large equipment. These items can quickly become obsolete: radar, liferaft, cartography, bow thruster, etc.
    • Look at the ancillary equipment. The seller may leave you with some equipment such as galley equipment, the dinghy, the engine that goes with it, life jackets, buoys, etc. You may have to buy them if they are no longer in good condition. Don’t bother with them if they are no longer in good condition. Leave them with the seller instead.
    • Check the necessary administrative papers: registration, last survey report, bill of sale… Also, ask for the user’s manuals, the boat’s keys, and the seller’s complete identity.

Sound off in the comments section below and tell us what you want to read next and if you want to read more about buying a used boat.