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Started By
Message
Buying a Boat
Posted on 6/13/24 at 2:00 pm
Posted on 6/13/24 at 2:00 pm
Looking to buy my first boat for my family. If I were to buy a new one, does the value of them drop considerably after you drive off with it like some automobiles and is it better to look for a good deal on a used boat in great condition?
20
Posted on 6/13/24 at 2:04 pm to tigersaint74
I’ve bought my share of used boats and it’s always some bullshite wrong with it. If you can afford new that’s what you should do.
Posted on 6/13/24 at 2:10 pm to tigersaint74
I was gonna go the used route but they were so close in price I decided to buy new
Posted on 6/13/24 at 2:18 pm to Griffindawg
quote:
I’ve bought my share of used boats and it’s always some bullshite wrong with it. If you can afford new that’s what you should do.
There will be some bullshite wrong with the new one before the end of summer.
Posted on 6/13/24 at 2:46 pm to tigersaint74
There will be depreciation but not nearly as bad as with a vehicle. The last few years since Covid has thrown the numbers off quite a bit as many owners sold their used boats for more than the original purchase price. Having said that the used market has certainly cooled off but the prices are still up.
Posted on 6/13/24 at 2:51 pm to tigersaint74
I have been through many a boat. On all but one, used was the right answer. I honestly thought I would never buy a new boat, and could not believe anyone ever did it. The only reason I did, was due to what I learned over the years and the realization the time was right due to more time to fish and figuring out exactly what I wanted/needed for my use, storage and enjoyment.
Posted on 6/13/24 at 2:54 pm to tigersaint74
Highly recommend looking for 2-3 year old boat with low hours that is comparable or the same as what you are currently considering.
The idea of a boat is great for a lot of people. The reality of actually owning and using the boat hits a lot of people and the boat just sits and is rarely used. I came across a 5 1/2 year old boat with a 115 Tohatsu that had 17 hours on it. That's it. People will buy a boat with $3K or $5K, etc... down and finance it. Then when they decide to sell they just want to sell it for enough to pay it off. Some people just don't seem to care or don't want to worry the money they put down.
There are some really good deals out there if you take the time to look. Under no circumstances buy a used boat from a guide.
The idea of a boat is great for a lot of people. The reality of actually owning and using the boat hits a lot of people and the boat just sits and is rarely used. I came across a 5 1/2 year old boat with a 115 Tohatsu that had 17 hours on it. That's it. People will buy a boat with $3K or $5K, etc... down and finance it. Then when they decide to sell they just want to sell it for enough to pay it off. Some people just don't seem to care or don't want to worry the money they put down.
There are some really good deals out there if you take the time to look. Under no circumstances buy a used boat from a guide.
This post was edited on 6/13/24 at 2:56 pm
Posted on 6/13/24 at 3:12 pm to tigersaint74
Ive sold every boat I’ve owned for considerably more than it was bought for
Also new boats can have issues too. I’ve seen some super shitty rigging on brand new boats even from some bigger name companies.
I’ve had good luck buying used boat that needs a lot of work, rebuilding it, and making money when it sells. That requires that you have the tools/knowledge/will to do the work to refit it though.
Nothing wrong at all with going used if you find the right deal and know what you’re getting into
Also new boats can have issues too. I’ve seen some super shitty rigging on brand new boats even from some bigger name companies.
I’ve had good luck buying used boat that needs a lot of work, rebuilding it, and making money when it sells. That requires that you have the tools/knowledge/will to do the work to refit it though.
Nothing wrong at all with going used if you find the right deal and know what you’re getting into
Posted on 6/13/24 at 3:34 pm to tigersaint74
quote:
Looking to buy my first boat for my family. If I were to buy a new one, does the value of them drop considerably after you drive off with it like some automobiles and is it better to look for a good deal on a used boat in great condition?
There are benefits to both but for me, the new boat was never a choice I could make. If it's your first boat, a good used boat may be the best option. You may find you don't use it much and you will probably be able to sell it for closer to what you paid (maybe more) if you buy used and you take care of it.
You will invariably love and hate the day you buy it and the day you sell it.
that is the paradox of boat ownership. And remember, the old cliche of "a boat is a hole in the water you throw money in", is not wrong just because it is an old cliche.
Posted on 6/13/24 at 3:50 pm to tigersaint74
I will add that after years of boat ownership when I am looking at prospective boats for purchase wether they are used or new I now begin looking at ease of access to mechanical areas. For every feature you see on a boat you should think/ask how that part of the boat would be accessed, replaced, and or repaired.
Posted on 6/13/24 at 4:46 pm to tigersaint74
Watch out for 'Covid' boats. Many a manufacturer struggling with production quality during and just after Covid. Lots of 2022's out there with fiberglass and electrical issues from half-arse work.
I like new, but sometimes there can be deals to be had. Just do your homework and get it looked over by an expert.
I like new, but sometimes there can be deals to be had. Just do your homework and get it looked over by an expert.
Posted on 6/13/24 at 10:01 pm to WilsonPickett
Avoid boats with motors more than 10 years old. ECM, engine control modules become discontinued, shift bushings stick, fuel injectors turn bad etc.
Posted on 6/14/24 at 6:59 am to tigersaint74
B.O.A.T.
Break Out Another Thousand
Break Out Another Thousand
Posted on 6/14/24 at 7:21 am to Trevaylin
quote:
Avoid boats with motors more than 10 years old.
Unless you find a hull you really like and have the budget to repower to new engine.
Sometimes older boat hull w new engine and new electronics cheaper than new boat.
Posted on 6/14/24 at 9:25 am to Griffindawg
quote:
I’ve bought my share of used boats and it’s always some bullshite wrong with it.
Applies equally to new boats. Welcome to boat ownership. If you don't have the time, the will, and the money to fix shite then boat ownership is not for you.
Posted on 6/14/24 at 9:23 pm to tigersaint74
quote:
does the value of them drop considerably after you drive off with it
The dealer is operating at a 20 percent margin so as soon as you leave the lot a new boat will be worth 80 percent of what you paid. After that it will devalue 10 percent per year.
If you buy a used boat then make the sale contingent on a report performed by an accredited marine surveyor and have a marine mechanic do a compression test on the engine.
The only thing that devalues faster than a boat is a burning house.
This post was edited on 6/14/24 at 9:25 pm
Posted on 6/14/24 at 10:10 pm to Griffindawg
quote:
I’ve bought my share of used boats and it’s always some bullshite wrong with it. If you can afford new that’s what you should do.
Nah, just know what you're looking at and be patient. If you live in an active boating area, there's always great used deals to be found. New boat prices are laughable these days.
Posted on 6/14/24 at 10:16 pm to tigersaint74
You're really buying the motor and the boat comes with it.
Posted on 6/14/24 at 11:05 pm to tigersaint74
I’m in the market also. Probably gonna go new. I wanted to buy in La but dealers in Ms and Alabama have much better prices. Boat stuf quoted me 55k for a boat I can get in Ms for 43k. Damn near identical
Posted on 6/15/24 at 9:21 am to Konkey Dong
The used boat market is so bloated right now with high interest rates. I have had mine on the market for 2 years with only a couple of nibbles. I've consulted several people on the price I have set for mine and they tell me that its in line or even a little low and still no major bites. It is on the upper end of price being over $35k, but its a very clean and nice boat loaded with electronics. There's no way I would buy a new one right now with the prices I've been seeing. A new boat that I want is over $100k but you can get the same one, just a couple years old for $30k less.
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