One of the very first things you should ask yourself as a prospective boat buyer is whether you want to buy an outright new boat and be the first owner, or buy a used boat that’s been broken in a little and has been on the water. You should have a clear idea of which type of boat is suitable for your needs ie cruising, fishing, water sports and what features you want on the boat.
After choosing the type of boat you want, deciding whether you should buy new or used depends on your budget and there are pros and cons to take into account. Both have their merits, and buying your boat is such an individual choice, so how do you pick?
If budget is a real factor then a used boat is an obvious choice. If you buy a model that is five or so years old you will be saving almost half the price of a new boat and that is a heck of a saving! On the downside a used boat tends not to come with a warranty. If you buy from a dealer, they can supply a limited warranty but a private seller won’t at all so you’ll need to get a qualified broker who can provide the boats title and should provide the relevant paperwork. You’ll need to hire a surveyor to properly check out your new boat to satisfy yourself that the boat is in good condition and has been well maintained.
In a nutshell, the pros are that the purchase cost is less than a new boat, you get a bigger boat for more money, the insurance tends to be cheaper and it will come fully equipped. The cons are that a used boat is less favourable in financial terms, there is limited customisation available, no warranty is available and you may not have a boat with the latest tech.
Buying a new boat from places like ribshackmarine.co.uk is well suited to people who know exactly what they want and those want a boat with a long life. The benefits of buying new are that you can choose the precise specification of your boat along with the colours and you will have the benefit of brand new warranty protection that comes with the new purchase. You also have the peace of mind that you can return to the dealer or boatyard in the future for advice, training and assistance with boat maintenance. The downside? New boats like cars will greatly depreciate in the first few years of ownership, but if you are not in a rush to sell they can sometimes gain value, and especially back to the value that you already paid for it.
In a nutshell, the pros are that you have a boat that’s covered under a new warranty, you can edit the specifications to your needs, you can buy the latest design and technology, it’s more economical and repairs are covered. The cons are that it’s far more expensive than a preloved boat, it doesn’t include all the equipment, the value will depreciate and the cost of newly added tech is expensive.