Thoughts For The First Time Boat Buyer Buying A Boat In Today’s Tight Economy

The prices of used boats that are less than 50 feet long have dropped. It is more of a buyer's market. Do consider checking auctions of used boats that have been donated to charitable organizations for tax purposes. Now there are many more, larger boats in particular that have for sale signs on them at local marinas. This past year way fewer larger boats have been leaving the harbor for weekend or even day trips. Fuel docks have been way less busy this year. Marinas that had been full in past five or ten years have had more than 10 percent of their slips empty the summer of 2008.

Many unenlightened boat sellers want to get rich selling their boats as opposed to wanting to get rid of their boats. They are asking way-above book value for their year boat. Often these people have not properly maintained their boats. So be particularly suspicious of used boats with asking prices way-higher than blue book retail prices. For a high selling price look for and expect a boat maintained to near-perfect condition, and start by looking for an immaculately clean bilge and engine compartment, and perfectly varnished exterior wood work.

Check out

• Boat auctions for boats that were donated to non-profit organizations. (Hint: check with a boat surveyor for where to find out more about auctions in your area.)
• Massachusetts Maritime Academy has auctions of donated boats. For more information, check www.maritime.edu/boatsales and http://www.maritime.edu/l2.cfm?page=131 or phone 508-830-6448 or 508-830-6423.
• Ads for used boats in popular boating magazines. Offshore magazine comes to mind first, additionally check out the boating magazines newspapers and boats-for-sale publications at the next New England boat show.

For Best Fuel Economy And Best Enjoyment, downsize your desires in response to higher fuel costs.

• Sail boats and displacement hull power boats.
• Smaller boats -- they give you a bigger bang for the dollar. .
• Four cycle outboard engines -- their fuel mileage is much better and they don't burn expensive two-cycle oil with the gasoline.
• Boating less in the open ocean - you don't need a bigger boat that will have terrible fuel mileage
• Boating more in rivers, bays and protected areas -- for the same reason as above
• With power boats consider getting one with the shade of a bimini top, particularly if you will be out in the sun all day.
• Be sure to select a boat that has been maintained better – this will give you fewer, later, uncomfortable/expensive surprises.

Use Your Own Hired Marine Surveyor to check out larger used boats. The money you spend for this will not be wasted if the surveyor finds a boat with major problems. Initially bring someone who is knowledgeable about this brand and size of boat, a mechanic friend or perhaps a boating club member.

Another Taboo Topic In Boating Magazines is that there is a very high and rapid depreciation of the book value of a boat. Check out blue book prices of used boats either online or at your town library. For a rude awakening, see how much a boat depreciates over a period of time, then seriously consider buying a classic Corvette or other classic car instead, it will have a lower overhead cost.

The Annual Overhead Cost Of A Boat: : the rule of thumb is about 10% of the purchase price of a new boat a year for expenses without the cost of fuel. If you drive a hard bargain getting a used boat, your overhead can be up to about 20% of that purchase price per year.

Smaller Boats Give More Fun For Your Dollar.
Car-top boats, i.e. canoes, kayaks, sunfish and sailfish are the least expensive and give you the biggest bang for the buck.

Trailered boats are the next least expensive. But larger trailered boats require a 4WD pick up truck or heavy SUV or full-sized vehicles with posi-traction rear wheel drive and with trailer towing modifications. Vehicles that are good boat haulers are generally gas guzzlers. You can, however hire someone who is a professional boat hauler to bring your boat from your home to a marina. And do be aware that your trailer must be registered, and insured and registered for a capacity sufficient for the weight that you are towing, otherwise the professional boat hauler must use their own trailer.

Next least-expensive alternative is a boat on a rented mooring. The most expensive would be a boat kept at a slip. Yacht clubs might appear to be more expensive, but, if you find one without a waiting list for membership, often times you will also find that it is less expensive than finding and hiring your own mooring.

The price of being a cheapskate. When you are several miles offshore and something bad happens, you are on your own. If you procrastinate maintaining your boat or do things as cheaply as possible something will break down or fail you at just the right or wrong time. If you then tried to save money by not having towing insurance, you will have compounded your problems. You need to have redundancy.

If you do not like to spend money, and you have a tight budget, do not get a (bigger) boat – and for that matter, definitely do not buy a horse, or an airplane.