Lets face it. Money does matter. The wish to buy a power boat may be strong, but the pocketbook is weak. New boats are oh so attractive, calling you siren-like from the pages of many a magazine, but is the beauty of the boat worth plunging into the cold, unrelenting waters of debt? However, if you are still set on buying a boat, any kind of boat, consider a used power boat.
One advantage to buying a used or recycled model is cost-effectiveness. A used power boat commands less money and may include the very equipment you intended to buy but would have to pay extra. The old owner has sorted out the bugs you might find in a new model. Talking to him or her can provide you with a wealth of information on what makes this boat tick. The boat may also have been renovated, modified to or even improved. This may be exactly what you want and you can obtain it at a lower price than you had ever dreamed.
Another advantage of preferring a used power boat over the new version is protection. If you are new in the boat market, inexperienced and uncertain as to what you want, you could end up with a highly inappropriate and expensive boat. Buying a used power boat helps you avoid this situation.
That said, remember to do your research. If a surveyor is necessary for insurance or financing purposes, hire one, but check out the facts yourself. Moreover, be realistic in what type of damage you can repair yourself, or what you can afford to hire someone to do for you.
Is the damage cosmetic or does it go deeper than that? Is it truly superficial and just need a coat of epoxy or paint? Check it from stem to stern and in very nook and cranny to make sure the boat is a good used power boat and not a lemon.
Before placing a solid bid, scan the magazines, e-zines, chat lines, boating association articles and postings as well as the Blue book to find out what this book would cost new and used. Examine the depreciation value and see if the price you are being told is a good or realistic one.
Talk to a broker. Maybe a sale is best through him or her or maybe they can clarify the real cost of the boat now and if you have to resell it some time down the road.
Another route to take is the attending of government auctions. Boats from crime proceeds and used government boats can be bought here. Be sure, however, you know the rules and be aware of the costs incurred and need to have pre-arranged financing.
A final possibility to find out information and maybe score a good deal is at a boat show. Whatever you decide is the correct venue, be sure to do your homework first before purchasing your used power boat.