If you are thinking of buying a used boat then there are a number of things that you will want to bear in mind before you dive right in with the purchase. Buying anything as elaborate or expensive as a boat can be a stressful time, so we thought we would compile some pieces of advice to make the whole process as simple and stress free as possible.
We have plenty of useful knowledge when it comes to buying and selling boats of all different types, so hopefully this guide will be of good use to you when you are on the look out for your next big purchase.
Follow these tips carefully and you will be able to rest assured knowing you are in safe hands. So, without further ado...
Who to buy from?
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Right, if you are looking to buy a second hand boat, you have a number of options. Firstly, you can consider buying your boat from a dealer, who has taken in used boats in part exchange deals and now offers them for sale. Or, if you wish to, you can approach a broker, who is selling a number of used boats on behalf of private individuals. The third option is to buy your boat directly from a private individual who has decided to sell their boat themselves.
It is good to remember that buying through a dealer or a broker often provides you with plenty of safety, as they will tend to own and carry out all of the proper paperwork. They will also ensure that all of the proper checks have been carried out, and, some dealers may also offer a limited warranty on top. Dealing with a private individual can be a daunting task as it is more complex. You may not know how to formalise the transaction in order to protect both yourself and the person from which you’re buying the boat. However, if you carry out all of the correct procedures, it can be a satisfying process and you can end up with a lovely boat to treasure.
What are you after?
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Never rush into a purchase without first deciding exactly what it is you’re after. Too many people don’t think things through enough and end up making mistakes that cost them in the long run. You should have a long hard think about your boating needs. How big a boat do you want? How many seats should it have in it? Are there any special features that you would like your boat to have?
It is always a good idea to chat to other boating enthusiasts as well as friends and family to allow them to offer input. Tell them the specifics you are after and they can offer you feedback on your ideas. You don’t want to buy a boat that is too small for what you had planned, or one that is too big for your storage space. So be sure to think things through in detail before completing a transaction.
What’s your budget?
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Sure, you might know how much you want to spend on your boat, but it is also important that you include other costs into your budget. You don’t ever want to assume that the only money you will require is the money needed to purchase the boat itself. You need to make a list of all the other added expenses and include them in your budget. For example, you will need to remember that your boat will need to be registered and insured - which will cost you money. You will also need to store the boat somewhere and pay for a trailer that will be used to haul the boat to its desired location.
It will also require fuel and oil on occasion as well as maintenance. Remember, the upkeep of a boat can cost you a lot of money. If you consider all of the financial costs of keeping a boat and compare it to your current financial state then you will be able to make a sensible and safe purchase that won’t land you in serious financial trouble.
Be prepared to shop around
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As with any large purchase, you should always be prepared to shop around. Too many people end up buying the first boat they see. You want to make sure that you look at a number of boats to get a good idea of exactly what is out there. How gutted would you be if you bought a boat, only to see a better valued boat in better condition a few days after handing the money over?
One way to ensure that you see a number of options is to browse classified ads, either in magazines, such as Boat Trader, or on websites such as BoatShop24. This gives you an opportunity to take a look at a large number of vessels in a short space of time. Then, once you know which four or five boats you are interested in, you can look at them in more detail and contact their sellers.
Talk to the owner
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It is always important to know just what you are going to ask when you come into contact with the owner of the boat. There are a number of questions that you should ask to ensure that you get all of the most useful information that can help you to make an informed decision on whether to proceed with the purchase.
For example, it is worth asking them all about how the boat handles on the water and how it has performed in recent years. You will need to ensure that the boat fits your needs, so make sure you get as much useful information as you can. It is worth writing down all of the questions you wish to ask, before you get in touch with the seller. You should also ask them about the history of the boat - this is one thing we will come to in more detail in a bit.
It is also important that you only really deal with people that are in your area. If the seller is too far away then you may not get a chance to speak to them face to face and see the boat up close and personal. A number of people sell boats online, so if the boat is too far away, you may end up making judgements based on images alone. You want to get in the boat and see the interior and exterior in detail. Never rely 100% on what the seller is saying and if you are unsure during your inspection of the vessel then invite a friend along to offer a second opinion.
Check the boat’s history
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One thing that is always worth checking before you sign on the dotted line, is the history of the boat. You should always use the Hull Identification Number (HIN) which is similar in a way to the Vehicle Identification Number of a car.
This number will wither be located on the insurance documents or the registration papers and is 12 characters long. The HIN can also, sometimes be located on the back of the used boat in the upper right-hand corner.
Using this number, you can use a number of websites, such as Boat History Report, to check the background of the boat. These sites will tend to offer you info on previous owners, accident reports and whether the boat has a clear title. It is important that you use the HIN to check the history of the boat, as opposed to simply taking the word of the person selling the vessel.
If you carry out all of the proper checks, using the HIN, then you are more likely to find out if there are any issues. And, by catching these issues early you can avoid any problems that may cost money in the future, or use these issues to negotiate the price down.
Consider a survey
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Having a survey carried out by a professional can make buying a used boat a whole lot easier. This way you can get the boat inspected in detail by a qualified, diligent and knowledgeable surveyor. They will be able to inform you as to the boat’s condition and how seaworthy it is. They will also be able to fill you in on how safe the boat is and what maintenance may be required.
Most buyers won’t be experienced enough, or technically knowledgeable enough, to inspect the entire boat and know exactly what to look for. The use of a surveyor can be extremely useful at putting your mind at rest, before you decide to invest in a vessel.
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