Beginner's Boat Buying Guide
Beginner's Boat Buying Guide
So, you are thinking about buying your first boat, but you
don’t know where to start. You could
just walk into a dealership and talk to a salesperson, but for some reason you
think it would feel like the equivalency of being fresh meat in a lion’s
den. There are so many options to choose
from and things to think about. Do you
want a sail boat or a power boat? New or
used? Cabin or no cabin? How much is this going to cost me? How much am I willing to spend? Well you have come to the right place. Let’s take a bit of time to explore the
options that are available when purchasing your first boat and some of the
things that you should consider.
For the purposes of this article, we are going to look at
the following considerations when purchasing your first boat:
-Budget and financing
-Used vs. New
-Types
-Features
-Getting acclimated
I am going to assume that if you are buying your very first
boat, it is not going to be a large yacht (although I have seen it done
before). Because of that, the discussions
in this article will revolve around boats that are in the 32 foot and below
size range; however, if you are looking for a larger boat most of the things in
this article will still apply.
Budget and Financing
The first thing that you need to do before you start looking
at boats is decide how much you can spend.
Some people are not comfortable with obtaining a loan to purchase
something such as a boat and others are okay with it. You need to decide what is best for you and
what your limits are. How much you can
spend will definitely have an effect on what type of boat and how much boat you
can purchase. Below are some options to
consider:
 |
| Establish a budget and financing plan before you start looking. |
1. Cash – For many, this is the best way to go and the
easiest. You have been putting cash away
for a while and you know how much you have to spend which makes shopping easy
as long as you stick to your plan.
Pros
You are not bound to a monthly
payment and you never will be “upside down” in your boat if you decide to move
up to a larger one.
Cons
May deplete your cash reserves
depending on how much you end up spending.
2. Boat Loan – This is just like a car loan. The boat serves as collateral, with the loan
and payments set up at a certain amount for a certain number of months.
Pros
You don’t have to come up with all the cash up front.
It typically will
have a low interest rate than a personal loan.
The interest may
be tax deductible if the boat meets the qualifications as a second home.
You might be able to buy more boat
than what you could if you used cash only.
Cons
You are locked into monthly
payments until the boat is paid off and paying interest means you are
ultimately paying more for the boat.
3. Personal Loan – With this type of loan, the boat is not used
as collateral for the loan. This is often
what is done if you don’t have the cash on hand and you are buying an older
vessel, because most marine lenders have a maximum age for a boat that can be
used as collateral.
Pros
Allows you to purchase an older boat and spend less money than a
typical boat loan.
Cons
Typically will have a higher interest rate than a boat loan and the
interest is not tax deductible.
You are locked
into monthly payments until the loan is paid off.
In addition to the purchase of the boat itself, there are a
few other things that you may need to consider in your budget:
Storage – Where will the
boat be kept? Will you need to rent a
storage or dock space at a marina?
Tow Vehicle – If you are
going to tow your boat, do you currently have a vehicle that can do the job or
will you have to buy one?
Insurance – Don’t try to
save money here. On more than one
occasion I have heard of incidents where a boat sank or was damaged due to a
storm, or other event, and the owner did not have insurance. Make sure this is in your budget.
Equipment and Maintenance
– You will need more than just the boat.
You will need equipment such as an anchor, dock lines, fenders, life
preservers etc. Some dealers will
include these with the boat when you purchase it but if not, you will have to
buy it yourself. There will also be
typical maintenance items such as oil changes and cleaning. Consider reducing costs by doing some of the
maintenance tasks yourself.
Should I Buy a Used Boat or a New
Boat?
One of the biggest questions that prospective first time
boat owners have is whether they should buy a new boat or a used boat. This is somewhat like deciding whether to buy
a used car versus a new car. A new boat
is just that. It is new and should be
free of problems. If there are any, they
are covered by a warranty. A used boat
will cost you much less money, but the condition will depend on how well the
previous owner took care of it.
I’ll be honest, when I purchased my first boat I bought it
brand new. One of the reasons why I did
this was because it was my first boat.
At the time, I didn’t feel like I was ready to take on the potential
risks of buying a used boat. Now, I am comfortable
saying that it was the last new boat I will ever buy. I’m not saying having a new boat was a bad
experience, but now I am much more comfortable with boat ownership. I am now well aware of the financial
differences between purchasing new and purchasing pre-owned boats.
My current boat was 28 years old when I bought it and I have
now had it for three years. Everything
on the boat works perfectly. Plus, I paid a fraction of what I would have paid
for a new boat of similar size and similar features. The previous owner took exceptional care of
it and it was a no brainer for me. But, my
great experience doesn’t necessarily mean purchasing a used boat is the right
decision for you. Let’s take a look at
some of the differences between buying new vs. buying used:
1. Price – Again, this is obvious. The older the boat is, the more it drops in
value (unless it is something rare and considered a collector’s item). You can save a significant amount of money by
purchasing a boat that is just a few years old if you do your homework.
2. Styling – There will be a difference in the look and feel of a
new boat versus an older one. Color
schemes, the lines of the hull, the layout of the deck and the layout of the cabin
are all things that will most likely be different. You may find that you prefer one over the
other. I suggest making it a point to
look at boats of all ages to see if you have a preference.
3. Technology – A brand new boat is going to have the newest
technology built in. Whether it is the
design of the hull, the electronics or the engines, you will have the
opportunity to get the best that current marine technology has to offer. What does that mean to you? The benefits can differ from a more modern
look, more user friendly controls or more efficient engines.
4. Size – This may sound a bit confusing because isn’t a 30 foot
boat a 30 foot boat, regardless of the age?
Unfortunately, not exactly. You
can pick a brand new boat of a particular make and model today and compare it with
the same make and model boat from 15 or 20 years ago and there is a
difference. The newer boats have
shrunk. Does that mean that a Sea Ray
340 Sundancer built in the early 90’s is bigger than one built within the past
couple of years? Yes, that is exactly
what it means. Not only is overall
length less, but so is the beam (width) in many cases. And no, it is not just a Sea Ray thing. This has happened with all
manufacturers.
5. Warranty – As mentioned before, a new boat will come with a
manufacturer’s warranty. If something
goes wrong during the warranty period then you have the warranty to fall back
on. Most previously owned boats are old
enough to where the manufacturer’s warranty has expired and any issues that
arise will have to be paid for out of pocket.
Is this a bad thing? Not
necessarily. Keep in mind. You are paying a lot less for a previously
owned boat than you would for a new one.
Even if you had a bit of bad luck, you are still probably coming out of
your pocket a lot less than with a new purchase. However, the key to making a used purchase is
to do your homework and make sure you purchase a boat that has been well
maintained.
Tips for Buying New
If you have decided that you are going to buy a new boat,
here are some tips:
1. Don’t
be in a hurry. Take your time and do
your homework. Learn what your options
are, and what various dealers charge for the boat. You don’t have to take the offer made by the
dealer down the road from you if you are not comfortable with it. There is another place where you can get the
boat that is right for you.
2. You
can special order your boat with the specific options that you want, but it
will probably cost a bit more than buying one that the dealer already has in
stock. Keep in mind, there are many options
that you can add later.
3. Negotiate. The dealer wants to sell you a boat just as
much as you want to buy it and profit margins are higher on boats than they are
on cars. They do have room to negotiate. What you are hoping you could buy the boat
for may not really be that ridiculous.
Don’t be afraid to make an offer that is well below the listed
price. You just might get the deal.
4. If
you just spent tens (or maybe hundreds) of thousands of dollars on a new boat,
get the dealer to do something for you.
Get free dock lines, free fenders and maybe a full tank of fuel. Get something.
5. Fall
and winter are good times to negotiate on a new boat because sales are
quiet. This gives you the upper
hand. Take advantage of it. Many boat shows are planned for the winter
months and they can offer significant discounts. Even if you don’t buy at the boat show, it is
an excellent opportunity to learn about available options.
Tips for Buying Used
If buying used is more your style, consider these tips
below:
1. Again,
Don’t be in a hurry. Take your time.
There are a lot of used boats on the market of various types and sizes. Searching online is a great way to start
getting an idea of what is out there and what the prices are like.
2. If
you have identified a particular make and model that you are like, do your
research. What reputation does it
have? Are there any known issues? What do current owners think about the boat?
3. If
you live near any marinas and you have access to them, walk the docks and look
for boats for sale. Many boats for sale
are not listed online. If you see a boat
that has clearly been neglected, maybe the owner is interested in selling it. Leave your card and maybe you will get a call
back and strike a deal. Be aware that
with this type of situation, the boat may need some TLC before it is ready for
boating season so keep the repair costs in mind when you negotiate your
price.
4. Once
you have chosen the boat you want to buy, have it surveyed by a qualified
marine surveyor before you sign on the dotted line. This will cost money (the amount usually
depends on the size and type of boat), but you will know the exact condition of
the boat before buying it. The results
of marine surveys can also be used in the negotiation of the final price.
5. Ask
if the boat has been used in salt water.
Salt water boats require more care and maintenance because of the
corrosive nature of the salt water environment.
If you are buying a boat that came from such an environment, you can
expect that some components will need to be repaired or replaced shortly after
the purchase. Keep this in mind when negotiating
your price. If you have the boat
surveyed, the corroded components should be on the report.
6. How
much has the boat been used? When buying
a car, we look at how many miles are on the car. When buying a boat, we look at how many hours
are on the engines (and generator, if equipped). Marine gasoline engines can easily last 2,000
hours or maybe more if well maintained.
Diesel engines will last much longer.
Don’t just look at the hours though.
Compare the hours to the age of the boat. At first glance, one may think that a boat
with only 50 hours on the engines is great. But if the boat is 10 years old, I would be
concerned that it might have been neglected because clearly it did not get much
use. One of the worst things you can do
to a boat is not to use it.
7. Hold
out for a fantastic deal. For me, a boat
is essential to my mental health and is therefore a necessity. For others, it is a luxury item or maybe a
status symbol. When life gets busy or
financial situations change, sometimes the first thing to go is the boat. A busy lifestyle can mean that all of a
sudden a boat is left sitting at the dock or on the trailer for long periods
between uses. The unfortunate loss of a
job or another negative change in finances could mean that expenses need to be
cut and the boat needs to be sold quickly.
In either case, this could be a benefit to anyone who is interested in
buying one. Just on my dock alone, I can
say that there are easily 5 boats that either have not been used at all or have
been used very little in the past year.
Boats like this can end up being a perfect match for a buyer who is
looking for a good deal and is not afraid to spend a little time sprucing it
up.
Types of Boats
Another big question that new boat shoppers may have is what
type of boat they should get. There are
several different styles and layouts with each one having their own advantages
and disadvantages. If you have not spent
much time boating, it can get confusing in a hurry. I personally know a couple that purchased
three boats in less than two years, each of them being a different type;
because, after owning each one for a while they decided that they wanted a
different type of boat. If you have
boating friends or family members, see if you can spend some time on the water
with them to help you get an idea of what the lifestyle is like and get to know
some of the different models and features.
Ultimately, how you want to spend your time on the water should
determine what type of boat is the best for you. Going to a boat show is also a fantastic way
to see a variety of boats that are offered on the market today.
Meanwhile, here are some examples of different types of
boats for you to consider:
Sailboat – Most
of the new boats sold today are power boats, but sailboats still make a big
percentage of the boats on the water and there are several types of sailboats available. Operating a sailboat is different than
operating a powerboat. It is more work
and requires more skill. I have found
that most sail boat owners would not trade it for a powerboat and even though I
am primarily a power boater, I have learned to appreciate the serenity and
artistry that goes along with sailing.
There is a concept that says, “When you get on a power boat, you are
headed to some destination. When you get
on a sailboat, you are at your destination.”
Sail boaters tend to enjoy the process of sailing more as opposed to a
destination that they are headed towards.
 |
| Sailboats require more skill and effort but make for an enjoyable time on the water |
Pros
Fuel costs are
almost non-existent.
Good option for those who enjoy
developing their sailing skills and just being on the water.
Cons
Not all bodies of
water are good for sailing.
A sailboat is not as easy to
trailer as a similar sized powerboat because of the mast.
Center Console – While a
center console can be used for various things, they are designed primarily for
fishing. They come in different sizes
and their design allows anglers to easily walk around the perimeter of the
vessel with ease which makes reeling in that “trophy fish” more manageable.
 |
| Center console boats are specifically laid out for fishing. |
Pros
Perfect if
fishing is your reason for being on the water.
Either they will come equipped with
the fishing features you need or will have a design that makes the features
easy to install.
Cons
Its primary
design doesn’t lean towards carrying passengers so its capacity may not be as
high as other boats of a similar size.
Ski/Wakeboard Boat – These
boats are for exactly what their name implies.
They are designed to be well balanced to create the perfect surface
conditions for water skiing. Many also
have the ability to modify the wake for wakeboarding as well.
 |
| These boats are perfect for watersports but have limited space. |
Pros
The perfect
boat for water sports.
Cons
Can be pricey
depending on the make and model and they do not perform well in rough water.
Bow Rider – This is one of
the most versatile styles of boats and they come in many sizes. It is a basic design that can be used for
anything from fishing to watersports or just riding on the water. It is a very popular style of boat for
families.
 |
| Bow riders are very versatile and can be used for all types of activities on the water. |
Pros
Its versatility
allows use for multiple activities.
Most of them are easily towed by a
pickup truck or family SUV.
Cons
Some features
that might be needed for a full day on the water, e.g. a head (that’s a bathroom for you land lubbers),
are only available on high end models.
Pontoon Boat – Pontoon
boats have become very popular in recent years, mostly because their design
allows for increased roominess. Manufacturers
have also started making them more attractive with styling and engine options. They come in various sizes and are perfect
boats for taking a group of people out on the water.
 |
| Pontoon boats have lots of seating space for their size. |
Pros
Can seat more
people than other similar sized boats.
They are easy to drive.
Cons
Does not
perform well in rough water and has limited versatility.
Some features that might be needed
for a full day on the water (such as a
head or refrigerator) are only available on high end models.
Cabin Cruiser – Cabin Cruisers
are popular because they can provide many of the comforts of home while you are
on the water. Your typical cruiser will
have a head, a galley and a berth for sleeping.
Depending on the size, it may also have features such as temperature
control, a television, a shower, or even an oven. Some larger and more expensive models offer a
washer and dryer.
 |
| Cruisers can be like a home away from home. |
Pros
Much more
comfortable than other types of boats.
Provides a means to spend multiple
days on the water at a time. If purchased with a loan, the interest may be deductible since it may qualify as a second home.
Cons
Typically uses
more fuel than other types of boats.
Larger models cannot be towed by
standard vehicles.
Boat Features
Even when comparing boats of a similar type, you often will
have to make a decision on which one is the right one for you based on the
features that each one offers. Here are
some common features that you may find on some boats:
Chart Plotter – A
combination GPS and electronic chart that can be used for navigation on the
water. Even if a boat does not come with
a chart plotter, one can be added later.
Today, many boaters are electing to install an android tablet or iPad
with the Navionics app instead of a chart plotter.
 |
| A chart plotter allows you to navigate even in limited visibility |
Depth Finder – A sensor
installed in the hull that connects to a display on the dash and indicates the
depth of the water. This is very
important, because running in water that is too shallow can result in running
aground and damaging the boat. Depth
finders can be installed on a boat if the boat is not equipped with one.
Radar – Some larger cabin cruisers
may come equipped with radar which allows you to determine boat traffic and
other hazards on the water if your vision is limited by darkness or inclement
weather conditions.
Radar Arch – An arch
installed high across the beam of a boat originally designed for the
installation of a radar array, but it can also be used to mount other features
such as antennas and navigation lights.
Windlass – An electric winch that is typically
placed on larger boats for deploying and retrieving the anchor. While it is easier to have a windlass
pre-installed on a boat, it can be installed at a later date. If you don’t have a windlass, you will just
have to retrieve the anchor manually.
 |
| A windlass makes setting and retrieving an anchor much easier. |
Live Well – This is a
feature found on many fishing boats. It
is a water tank onboard the boat that allows you to keep bait alive and fresh
until it is time for use.
Trim Tabs – Tabs that
extend from the stern of the boat and can be controlled from the helm to adjust
the ride of the vessel in rough water or whenever the boat has an uneven
load. They are best when installed by
the manufacturer, but you have the option of adding them at a later time. Trim tabs are practically a must on cabin
cruisers.
Generator/Inverter – On boats that have AC powered features such as microwaves, air conditioning or televisions, a generator or an inverter is an alternative way of providing you AC power whenever you are not plugged into the shore power at the dock. While it is possible to have an inverter or generator added at a later date (provided there is space), it is much easier and less expensive to have the manufacturer do it for you.
 |
| Trim tabs allow the operator to more easily control how the boat rides. |
Generator/Inverter – On boats that have AC powered features such as microwaves, air conditioning or televisions, a generator or an inverter is an alternative way of providing you AC power whenever you are not plugged into the shore power at the dock. While it is possible to have an inverter or generator added at a later date (provided there is space), it is much easier and less expensive to have the manufacturer do it for you.
Marine VHF Radio – This is
equivalent to a CB radio for boaters. It
allows you to communicate with other boaters and emergency personnel on the
water without the need for there to be any cell towers or other communication
infrastructure in the area. These come
in handheld and dash mounted versions and can be added to a boat at any time.
Camper Top/Canvas – Many
boats come with a bimini top or hard top to provide some type of shade while
out on the water. If you plan to boat in
the cooler months, you may want to also have a camper top. A camper top is a full enclosure for the deck
of the boat which will protect you from the cold, wind and/or rain when the
weather is not necessarily perfect. It
is typically best to purchase this with the boat, as getting one made for the
boat later can cost several thousand dollars depending on the size and
configuration of the boat.
 |
| A camper top is an effective way to protect your guests from the weather when on deck. |
Getting to Know Your Boat
Once you have made a purchase, it is now time to start
enjoying it. Since this is your first
boat, there are some things that you will need to learn. The most important thing here is to take your
time and enjoy the process. If you
purchased your boat from a dealer, check to see if they offer a delivery
orientation service to help you get to know your boat. If you purchased the boat from a private
individual, they may be able to spend a bit of time with you as well.
Remember, boats do not handle the same way that cars do and
you will have to get used to it. They
steer from the rear and not the front.
They have no brakes, and backing into a slip is a lot more challenging
than backing a car into a parking space.
In addition, things such as wind and current will affect the way your
boat moves in the water. This is not to
make it seem like a daunting task, but it can be a bit of a challenge. It may be a good idea to have an experienced
person come and spend time with you so you can learn how to drive and maintain
your new boat. America’s Boating Club
has squadrons across the country with many of them providing courses on boat
handling and practically all of them offering boating safety courses. To find the nearest one to you, visit their
website at https://americasboatingclub.org/find-your-local-squadron/.
Finally, do not be afraid to ask questions. One of the things that I have learned is that
boaters are some of the friendliest people.
We are more than willing to assist someone, especially a new boater. If you are not sure of something, most likely
there will be someone that will be more than willing to answer your question.
Boating is one of the most satisfying and fulfilling
activities that you can undertake. If
you have just purchased or are about to purchase your first boat, you are about
to embark on one of the most fantastic journeys of your life. Enjoy it, and don’t forget to share the good
times with others.
Happy Boating
Captain Frank
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