{"id":11070,"date":"2023-10-23T12:24:45","date_gmt":"2023-10-23T19:24:45","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=11070"},"modified":"2024-01-29T15:33:48","modified_gmt":"2024-01-29T22:33:48","slug":"new-vs-used-boat","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/new-vs-used-boat\/","title":{"rendered":"The Pros and Cons of Buying a New vs Used Boat"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><p class=\"wp-block-paragraph\">Imagine the sun on your face, the wind in your hair, and the sound of water lapping against the hull as you glide through the waves. Becoming a boat owner can bring joy and adventure, but deciding between a new or used boat will mean evaluating your budget (along with your tolerance for risk).&nbsp;<\/p>\n\n\n\n<h2 id=\"consider-these-factors-to-make-an-informed-decision\" class=\"wp-block-heading\">Consider these Factors to Make an Informed Decision<strong>&nbsp;<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before purchasing a boat, new or used, you should be able to answer the following questions:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Where will you take the boat?<\/strong> (Only inland lakes or offshore, too?)&nbsp;<\/li>\n\n\n\n<li><strong>How will you use the boat?&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Will you trailer it or keep it at one designated location?<\/strong><\/li>\n\n\n\n<li><strong>How many passengers do you expect?<\/strong>&nbsp; What are their ages?&nbsp;&nbsp;<\/li>\n\n\n\n<li><strong>How much boating experience do you have? <\/strong>&nbsp;<\/li>\n\n\n\n<li><strong>What is your budget for the purchase itself?<\/strong>&nbsp; Will you need a loan?<\/li>\n\n\n\n<li><strong>What is your budget for the operating expenses?<\/strong>&nbsp; <em>Expenses such as insurance, storage fees (check out <\/em><a href=\"http:\/\/neighbor.com\"><em>Neighbor<\/em><\/a><em> for innovative storage solutions), fuel, and maintenance (planned and unplanned).<\/em><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">A lower price on the wrong boat isn&rsquo;t the wise decision you think it is. Think very seriously about who, where, and how the boat will be used.&nbsp;<\/p>\n\n\n\n<html><body><div id=\"in_post\">\n    <div class=\"control\">\r\n\t\t<a href=\"https:\/\/www.neighbor.com\/search?can_store_vehicle=true&amp;min_length=16&amp;min_width=10&amp;overrideTitle=Boat%20Storage&amp;storing=Boat&amp;types%5B%5D=Carport&amp;types%5B%5D=Driveway&amp;types%5B%5D=Garage&amp;types%5B%5D=Parking%20Lot&amp;types%5B%5D=Unpaved%20Lot&amp;types%5B%5D=Street%20Parking&amp;types%5B%5D=Warehouse&amp;types%5B%5D=Other\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'first in post', version: '2.2'}, () =&gt; { console.log('track call'); });\">\r\n\t\t  <div class=\"first-in-post-cta\">\r\n\t\t    <header>\r\n\t\t      <h2 id=\"how-neighbor-is-changing-boat-storage\">How Neighbor is changing boat storage<\/h2>\r\n\t\t    <\/header>\r\n\t\t    <section>\r\n\t\t      <div class=\"service-option\">\r\n\t\t        <div class=\"service-option-icon\">\r\n\t\t          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n\t\t            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M13.125 9.375C11.0539 9.375 9.375 11.0539 9.375 13.125V46.875C9.375 48.9461 11.0539 50.625 13.125 50.625H46.875C48.9461 50.625 50.625 48.9461 50.625 46.875V13.125C50.625 11.0539 48.9461 9.375 46.875 9.375H13.125ZM28.125 16.875C28.125 15.8395 28.9645 15 30 15C31.0355 15 31.875 15.8395 31.875 16.875V20.625H35.625C36.6605 20.625 37.5 21.4645 37.5 22.5C37.5 23.5355 36.6605 24.375 35.625 24.375H26.25C25.2145 24.375 24.375 25.2145 24.375 26.25C24.375 27.2855 25.2145 28.125 26.25 28.125H33.75C36.8566 28.125 39.375 30.6434 39.375 33.75C39.375 36.8566 36.8566 39.375 33.75 39.375H31.875V43.125C31.875 44.1605 31.0355 45 30 45C28.9645 45 28.125 44.1605 28.125 43.125V39.375H22.5C21.4645 39.375 20.625 38.5355 20.625 37.5C20.625 36.4645 21.4645 35.625 22.5 35.625H33.75C34.7855 35.625 35.625 34.7855 35.625 33.75C35.625 32.7145 34.7855 31.875 33.75 31.875H26.25C23.1434 31.875 20.625 29.3566 20.625 26.25C20.625 23.1434 23.1434 20.625 26.25 20.625H28.125V16.875Z\" fill=\"#005EB8\"><\/path>\r\n\t\t          <\/svg>\r\n\t\t        <\/div>\r\n\t\t        <h3 id=\"transparent-monthly-savings\">Transparent monthly savings<\/h3>\r\n\t\t        <p>Renters save 30-50% on boat storage, on average. No rate hikes.<\/p>\r\n\t\t      <\/div>\r\n\t\t      <div class=\"service-option\">\r\n\t\t        <div class=\"service-option-icon\">\r\n\t\t          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"76\" height=\"60\" viewbox=\"0 0 76 60\" fill=\"none\">\r\n\t\t\t\t\t\t\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M37.55 14.4843C39.5632 13.3249 42.1354 14.2561 42.9397 16.4356L46.0933 24.9814L61.7664 24.5065C65.0406 24.4072 66.8592 28.2589 64.7021 30.7241L60.9809 34.977L60.968 34.9917L57.1326 39.375L66.1251 39.375V37.5C66.1251 36.4645 66.9646 35.625 68.0001 35.625C69.0357 35.625 69.8751 36.4645 69.8751 37.5V39.375H71.7501C72.7857 39.375 73.6251 40.2145 73.6251 41.25C73.6251 42.2856 72.7857 43.125 71.7501 43.125H69.8751V45.9375C69.8751 46.9731 69.0357 47.8125 68.0001 47.8125C66.9646 47.8125 66.1251 46.9731 66.1251 45.9375V43.125L39.8751 43.125C39.6698 43.125 39.4722 43.092 39.2873 43.031C38.2539 45.2987 35.9673 46.875 33.3126 46.875C30.6948 46.875 28.4349 45.3422 27.3817 43.125H24.2436C23.1903 45.3422 20.9305 46.875 18.3126 46.875C15.6579 46.875 13.3714 45.2987 12.3379 43.031C12.153 43.092 11.9554 43.125 11.7501 43.125H6.12512C5.08959 43.125 4.25012 42.2856 4.25012 41.25C4.25012 40.4184 4.7915 39.7133 5.54104 39.4678L3.10927 30.9566C2.43776 28.6063 4.15819 26.2522 6.6014 26.1781L17.9522 25.8342C18.0593 25.7316 18.1804 25.6402 18.3147 25.5628L37.55 14.4843ZM24.8087 39.375H26.8166C27.2715 36.1948 30.0066 33.75 33.3126 33.75C36.6191 33.75 39.3544 36.1953 39.8088 39.3762C39.8308 39.3754 39.8529 39.375 39.8751 39.375L52.1497 39.375L55.4308 35.6252H43.6253C42.5898 35.6252 41.7503 34.7858 41.7503 33.7502C41.7503 32.7147 42.5898 31.8752 43.6253 31.8752H58.712L61.88 28.2547L6.71499 29.9264L9.4146 39.375H11.7501C11.7723 39.375 11.7944 39.3754 11.8164 39.3762C12.2708 36.1953 15.0062 33.75 18.3126 33.75C21.6187 33.75 24.3538 36.1948 24.8087 39.375ZM25.7685 25.5973L42.1404 25.1012L39.4216 17.7339L25.7685 25.5973ZM15.5001 40.3125C15.5001 41.8658 16.7593 43.125 18.3126 43.125C19.8659 43.125 21.1251 41.8658 21.1251 40.3125C21.1251 38.7592 19.8659 37.5 18.3126 37.5C16.7593 37.5 15.5001 38.7592 15.5001 40.3125ZM30.5001 40.3125C30.5001 41.8658 31.7593 43.125 33.3126 43.125C34.8659 43.125 36.1251 41.8658 36.1251 40.3125C36.1251 38.7592 34.8659 37.5 33.3126 37.5C31.7593 37.5 30.5001 38.7592 30.5001 40.3125Z\" fill=\"#005EB8\"><\/path>\r\n\t\t\t\t\t\t\t<\/svg>\r\n\t\t        <\/div>\r\n\t\t        <h3 id=\"keep-your-boat-nearby\">Keep your boat nearby<\/h3>\r\n\t\t        <p>With locations in every state, the perfect boat spot is already near you.<\/p>\r\n\t\t      <\/div>\r\n\t\t      <div class=\"service-option\">\r\n\t\t        <div class=\"service-option-icon\">\r\n\t\t          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"60\" height=\"60\" viewbox=\"0 0 60 60\" fill=\"none\">\r\n\t\t            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M30 7.5C25.5499 7.5 21.1998 8.8196 17.4997 11.2919C13.7996 13.7643 10.9157 17.2783 9.21272 21.3896C7.50975 25.501 7.06417 30.025 7.93234 34.3895C8.80051 38.7541 10.9434 42.7632 14.0901 45.9099C17.2368 49.0566 21.2459 51.1995 25.6105 52.0677C29.975 52.9358 34.4991 52.4903 38.6104 50.7873C42.7217 49.0843 46.2357 46.2004 48.7081 42.5003C51.1804 38.8002 52.5 34.4501 52.5 30C52.5 24.0326 50.1295 18.3097 45.9099 14.0901C41.6903 9.87053 35.9674 7.5 30 7.5ZM41.5295 26.7545C42.7193 25.5646 42.7193 23.6354 41.5295 22.4455C40.3396 21.2556 38.4104 21.2556 37.2205 22.4455L26.7061 32.96L22.7795 29.0334C21.5896 27.8435 19.6604 27.8435 18.4705 29.0334C17.2807 30.2232 17.2807 32.1524 18.4705 33.3423L24.5516 39.4234C25.123 39.9948 25.898 40.3158 26.7061 40.3158C27.5142 40.3158 28.2891 39.9948 28.8605 39.4234L41.5295 26.7545Z\" fill=\"#005EB8\"><\/path>\r\n\t\t          <\/svg>\r\n\t\t        <\/div>\r\n\t\t        <h3 id=\"storage-made-simple\">Storage made simple<\/h3>\r\n\t\t        <p>Don't settle for stone age tech and long contracts. Neighbor makes it easy.<\/p>\r\n\t\t      <\/div>\r\n\t\t    <\/section>\r\n\t\t    <footer>\r\n\t\t      <button>Search nearby boat storage <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"25\" height=\"24\" viewbox=\"0 0 25 24\" fill=\"none\">\r\n\t\t          <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11 2.90625C9.4981 2.90625 8.02993 3.35162 6.78114 4.18603C5.53236 5.02044 4.55905 6.20642 3.98429 7.594C3.40954 8.98157 3.25916 10.5084 3.55217 11.9815C3.84517 13.4545 4.56841 14.8076 5.63041 15.8696C6.69242 16.9316 8.04549 17.6548 9.51854 17.9478C10.9916 18.2408 12.5184 18.0905 13.906 17.5157C14.4508 17.29 14.9646 17.0029 15.4382 16.6618L19.5132 20.7368C19.9892 21.2127 20.7608 21.2127 21.2368 20.7368C21.7127 20.2608 21.7127 19.4892 21.2368 19.0132L17.1618 14.9382C17.2137 14.8661 17.2645 14.793 17.314 14.7189C18.1484 13.4701 18.5938 12.0019 18.5938 10.5C18.5938 8.48601 17.7937 6.55451 16.3696 5.13041C14.9455 3.7063 13.014 2.90625 11 2.90625ZM14.7493 14.0398C14.9463 13.8311 15.1264 13.6054 15.2873 13.3647C15.8538 12.5167 16.1562 11.5198 16.1562 10.5C16.1562 9.13248 15.613 7.82096 14.646 6.85398C13.679 5.887 12.3675 5.34375 11 5.34375C9.98019 5.34375 8.98328 5.64616 8.13534 6.21273C7.2874 6.77931 6.62651 7.58461 6.23625 8.52679C5.84599 9.46897 5.74387 10.5057 5.94283 11.5059C6.14178 12.5061 6.63287 13.4249 7.35398 14.146C8.0751 14.8671 8.99385 15.3582 9.99407 15.5572C10.9943 15.7561 12.031 15.654 12.9732 15.2638C13.5557 15.0225 14.086 14.6777 14.5398 14.2493C14.5699 14.2108 14.6028 14.1737 14.6382 14.1382C14.6737 14.1028 14.7108 14.0699 14.7493 14.0398Z\" fill=\"#EFF5F8\"><\/path>\r\n\t\t        <\/svg>\r\n\t\t      <\/button>\r\n\t\t    <\/footer>\r\n\t\t  <\/div>\r\n\t\t<\/a>\r\n\t<\/div>\n  <\/div><\/body><\/html><h2 id=\"cost-comparison-new-vs-used-boats\" class=\"wp-block-heading\">Cost Comparison: New vs Used Boats<\/h2>\n\n\n\n<h3 id=\"purchase-price-and-depreciation\" class=\"wp-block-heading\">Purchase Price and Depreciation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Many experienced boaters prefer buying a used boat to avoid the depreciation that a buyer of a new boat will incur.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The price difference between a new boat and its four-year-old counterpart is usually about <strong>20%.<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Typically, <strong>4-year to 6-year-old boats<\/strong> are still in relatively good condition. Because of this, the discrepancy between a new and used boat won&rsquo;t be as dramatic.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, <strong>at the 10-year mark<\/strong>, the price difference <strong>could exceed 35%<\/strong> as the used boat&rsquo;s condition steeply declines.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As expected, the cost of a used boat will vary by the boat&rsquo;s type, brand, and model. In the same way, used boat prices will fluctuate depending on the boat&rsquo;s location, amount and type of use, and whether it&rsquo;s been well-maintained.<\/p>\n\n\n\n<h3 id=\"insurance-and-maintenance-costs\" class=\"wp-block-heading\">Insurance and Maintenance Costs<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Insurance rates are <strong>determined primarily by the value of the insured boat<\/strong>.&nbsp; Comparable used boats have a lower value, so their insurance rates should be less.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Generally speaking, average costs should be about <strong>$200 to $500 annually<\/strong>. However, most insurers offer opportunities for discounts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>CAUTION: The total cost of boat ownership is often <\/strong><strong><em>grossly <\/em><\/strong><strong>underestimated by first-time buyers.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Maintenance costs will vary from boat to boat, even those of the same brand, model, and year.&nbsp; The warranties on a new boat reduce maintenance costs, but even a new boat may not be problem-free.&nbsp; New boat warranty periods vary for different equipment or systems. Some warranties extend only to the original owner.<\/p>\n\n\n\n<html><body><div id=\"2_in_post\">\n    <a href=\"https:\/\/www.neighbor.com\/search?can_store_vehicle=true&amp;min_length=16&amp;min_width=10&amp;overrideTitle=Boat%20Storage&amp;storing=Boat&amp;types%5B%5D=Carport&amp;types%5B%5D=Driveway&amp;types%5B%5D=Garage&amp;types%5B%5D=Parking%20Lot&amp;types%5B%5D=Unpaved%20Lot&amp;types%5B%5D=Street%20Parking&amp;types%5B%5D=Warehouse&amp;types%5B%5D=Other\" onclick=\"rudderanalytics.track('press editorial cta button', {location: 'second in post', version: '2.0'}, () =&gt; { console.log('track call'); });\">\r\n  <div class=\"second-in-post-cta\">\r\n    <section>\r\n      <div class=\"service-option\">\r\n        <h2 id=\"save-up-to-1200-year-on-boat-storage\">Save up to $1,200\/year on boat storage<\/h2>\r\n        <button>Search in your area\r\n          <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"25\" height=\"24\" viewbox=\"0 0 25 24\" fill=\"none\">\r\n            <path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M11 2.90625C9.4981 2.90625 8.02993 3.35162 6.78114 4.18603C5.53236 5.02044 4.55905 6.20642 3.98429 7.594C3.40954 8.98157 3.25916 10.5084 3.55217 11.9815C3.84517 13.4545 4.56841 14.8076 5.63041 15.8696C6.69242 16.9316 8.04549 17.6548 9.51854 17.9478C10.9916 18.2408 12.5184 18.0905 13.906 17.5157C14.4508 17.29 14.9646 17.0029 15.4382 16.6618L19.5132 20.7368C19.9892 21.2127 20.7608 21.2127 21.2368 20.7368C21.7127 20.2608 21.7127 19.4892 21.2368 19.0132L17.1618 14.9382C17.2137 14.8661 17.2645 14.793 17.314 14.7189C18.1484 13.4701 18.5938 12.0019 18.5938 10.5C18.5938 8.48601 17.7937 6.55451 16.3696 5.13041C14.9455 3.7063 13.014 2.90625 11 2.90625ZM14.7493 14.0398C14.9463 13.8311 15.1264 13.6054 15.2873 13.3647C15.8538 12.5167 16.1562 11.5198 16.1562 10.5C16.1562 9.13248 15.613 7.82096 14.646 6.85398C13.679 5.887 12.3675 5.34375 11 5.34375C9.98019 5.34375 8.98328 5.64616 8.13534 6.21273C7.2874 6.77931 6.62651 7.58461 6.23625 8.52679C5.84599 9.46897 5.74387 10.5057 5.94283 11.5059C6.14178 12.5061 6.63287 13.4249 7.35398 14.146C8.0751 14.8671 8.99385 15.3582 9.99407 15.5572C10.9943 15.7561 12.031 15.654 12.9732 15.2638C13.5557 15.0225 14.086 14.6777 14.5398 14.2493C14.5699 14.2108 14.6028 14.1737 14.6382 14.1382C14.6737 14.1028 14.7108 14.0699 14.7493 14.0398Z\" fill=\"#EFF5F8\"><\/path>\r\n          <\/svg>\r\n        <\/button>\r\n      <\/div>\r\n    <\/section>\r\n  <\/div>\r\n<\/a>\n  <\/div><\/body><\/html><h2 id=\"the-condition-and-appearance-of-new-and-used-boats\" class=\"wp-block-heading\">The Condition and Appearance of New and Used Boats<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Considering the condition of a pre-owned boat is crucial when evaluating boats. Aesthetics is frequently important to buyers.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  style=\"aspect-ratio:1.4953271028037383;width:800px;height:auto\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh7-us.googleusercontent.com\/V4CIOglfq0Bhc7BqGCKLv02of2xNalcf--7dh9b0xzYSmqehb_E6LKLxR_pMo7sZlWkUHvXQPABrqezVvW0PU1uCcMYR2u5YLVl-rB9nR50a5YcVL0hxaerKr3tJNwSQqbrFL-4XDwslgXejLEhvyMc\" ><\/figure>\n\n\n\n<h3 id=\"structural-and-mechanical-integrity\" class=\"wp-block-heading\">Structural and Mechanical Integrity<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The structural integrity of a pre-owned boat should be thoroughly examined.<strong><em> Remember<\/em><\/strong>: even <em>&ldquo;minor&rdquo; <\/em>problems like leaky windows can eventually result in a large loss.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thoroughly <strong>inspect the hull<\/strong> inside and out for rotting wood and weaknesses. Online resources discussing DIY inspection techniques are available, but <a href=\"https:\/\/www.discoverboating.com\/resources\/marine-surveys-and-surveyors\" target=\"_blank\"><strong>a marine survey<\/strong><\/a><strong> <\/strong>is your best protection.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Don&rsquo;t<\/em><\/strong> let the seller or his broker recommend a surveyor! Choose your own surveyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this inspection, don&rsquo;t forget to check the integrity of life-saving mechanical components, like engines, electrical, plumbing, steering, and emergency dewatering systems. Don&rsquo;t forget about the generators or <a href=\"https:\/\/www.godownsize.com\/boat-air-condition-troubleshooting\/\" target=\"_blank\">air conditioners<\/a>, either.&nbsp;<\/p>\n\n\n\n<h3 id=\"boat-maintenance-records\" class=\"wp-block-heading\">Boat Maintenance Records&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Ever notice that you can score the best boat prices a few months after a hurricane? If a boat was damaged as a result of a recent hurricane, an affected boat owner may try to pawn off their fixer-upper on buyers like yourself. That&rsquo;s why you <em>must<\/em> review all available maintenance records. Marine surveyors may have special access to a boat&rsquo;s repair history.<\/p>\n\n\n\n<h3 id=\"aesthetics\" class=\"wp-block-heading\">Aesthetics<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh7-us.googleusercontent.com\/GC1go0_dnBKRSebcsA1ruApNiHOOmqimrrJtxaRz4mzYVp-Y882fYXmCCrVq29Pyq62LHK69zR9-uBWBR76H8av3GVpg3c0GgufzJjvTwxwG7xTpx4oZzTl_HKq2sCP-6em5P34W-nJdPpA-r5BVrd4\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The sleekness of a freshly-polished, modern boat can reel just about any boat buyer. It&rsquo;s hard to fight the forces of that New Boat glow. While used boats&rsquo; appearances may convey a classic, traditional look, they could also just look outdated and grungy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>But don&rsquo;t rule out a used boat<\/strong> quite yet. It&rsquo;s surprising how much grunge can be polished out and spiffed up, but, remember, ugly or inefficient design is <em>forever.<\/em><\/p>\n\n\n\n<h2 id=\"buying-options-dealers-brokers-and-private-sellers\" class=\"wp-block-heading\">Buying Options: Dealers, Brokers, and Private Sellers<\/h2>\n\n\n\n<h3 id=\"dealers\" class=\"wp-block-heading\">Dealers<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh7-us.googleusercontent.com\/txy37ETtxozCM_luEVG38JB7WcduNaHW5pm_kGYOnIicXAAqqBVr23Z6dSpNwB3-mD05rz3e9sOZQaSqnbOvKzOdDkPD1CK8a1vOGi0TEeUiCQ3S16PiWKkJ3I28UTVf4s_3rQi1xpafiW1fcbmuJbk\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Advantages of buying from a dealer include::&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Access to new models<\/li>\n\n\n\n<li>Possible access to special packages and financing&nbsp;<\/li>\n\n\n\n<li>Greater confidence you&rsquo;re buying a seaworthy and well-maintained vessel<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Buying from a dealer can have its drawbacks, such as potentially<em> higher prices<\/em> and <em>limited availability<\/em> of certain boat types or models.<\/p>\n\n\n\n<h3 id=\"brokers\" class=\"wp-block-heading\">Brokers<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Boat brokers provide services similar to real estate brokers.&nbsp; You buy the boat <strong><em>through <\/em><\/strong>the broker, not <strong><em>from<\/em><\/strong> the broker.&nbsp; The seller is still an individual or dealership.&nbsp; Brokers can serve as either a seller&rsquo;s or buyer&rsquo;s agent. Using a broker offers the following benefits:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Retaining a broker as your buyer&rsquo;s agent <strong><em>DOESN&rsquo;T<\/em><\/strong> increase your cost<\/li>\n\n\n\n<li>Your broker&rsquo;s market knowledge and experience with many boat types boats is an immense help, especially for first-timers<\/li>\n\n\n\n<li>Your broker can advise you on negotiation strategies and conduct negotiations on your behalf.<\/li>\n\n\n\n<li>Many brokers are members of professional organizations with mandatory codes of conduct.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The major catch in dealing with brokers is understanding that the seller&rsquo;s broker is acting on the seller&rsquo;s behalf. Your broker should represent <strong><em>only your <\/em><\/strong>interests.&nbsp; Therefore, <strong><em>you should be the one to select your broker <\/em><\/strong>and make all the final decisions during negotiations.<\/p>\n\n\n\n<h3 id=\"private-sellers-unrepresented-by-a-selling-broker\" class=\"wp-block-heading\">Private Sellers (Unrepresented by a Selling Broker)<\/h3>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img  decoding=\"async\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"\"  style=\"aspect-ratio:1.3333333333333333;width:800px;height:auto\"  class=\" pk-lazyload\"  data-pk-sizes=\"auto\"  data-pk-src=\"https:\/\/lh7-us.googleusercontent.com\/TXgxyGqtLLZ-Kv_hq1Casr7HFOWA8i4tkqD_GjaF8nXnV_I6BP1SFD8TVikA4uNgKTdj3ohCNaba5fcXjgdOr702QrJ5JpND799w0_Q7fAkz1gT1ozFR9hH6nlX4WIMSP4Wazlj2kPdqPPxYIxWa_6Y\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Purchasing a pre-owned boat from a private seller has both risks and rewards.&nbsp; Benefits include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>They may be more willing to negotiate the sale price<\/li>\n\n\n\n<li>They may provide access to at least some of the boat&rsquo;s history<\/li>\n\n\n\n<li>Buying directly from an individual may save money versus a dealer or broker sale<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Remember, buying a used boat from an individual lessens assurance of the boat&rsquo;s condition.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 id=\"financing\" class=\"wp-block-heading\">Financing<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The following information from <a href=\"https:\/\/www.bankrate.com\/loans\/personal-loans\/new-vs-used-boat-loans\/#vs\" target=\"_blank\">Bankrate<\/a> compares the pros and cons of financing purchases for new boats and pre-owned boats:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>PROS &ndash; NEW BOAT FINANCING&nbsp;<\/strong><\/td><td><strong>CONS &ndash; NEW BOAT FINANCING<\/strong>&nbsp;<\/td><\/tr><tr><td>Possible lower rates for creditworthy borrowers.<\/td><td>The overall cost of the loan will likely be higher.<\/td><\/tr><tr><td>Long-term maintenance costs may be less expensive.<\/td><td>Higher monthly payments because of the larger loan amount.<\/td><\/tr><tr><td>Lenders may offer to cover the full cost of the boat.<\/td><td>Most lenders require an excellent credit score for approval.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>PROS &ndash; USED BOAT FINANCING<\/strong><\/td><td><strong>CONS &ndash; USED BOAT FINANCING<\/strong><\/td><\/tr><tr><td>The lower loan amount may reduce overall costs.<\/td><td>Some lenders may not offer loans for older boats.<\/td><\/tr><tr><td>Depending on the lender, your credit, and the price of the boat, interest rates could be lower.<\/td><td>Used boats may pose more of a long-term financial risk.<\/td><\/tr><tr><td><\/td><td>Potential maintenance costs may offset any savings.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"takeaways\" class=\"wp-block-heading\">Takeaways<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you decide to buy a new boat or a used boat, these guidelines should help:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Determine your budget and funding source(s)<\/li>\n\n\n\n<li>Get a better sense of how you plan to use your boat and the age demographic of your frequent passengers.<\/li>\n\n\n\n<li>Identify the type(s) of boats (pontoon, cruiser, bass boat. etc.) that meet your non-negotiables.<\/li>\n\n\n\n<li>Research that segment of the market using online resources such as<a href=\"http:\/\/boattrader.com\/\" target=\"_blank\"> Boat Trader<\/a> or<a href=\"http:\/\/yachtworld.com\/\" target=\"_blank\"> Yachtworld<\/a><\/li>\n\n\n\n<li>See lots of boats. Use online resources to learn to inspect a boat yourself<\/li>\n\n\n\n<li>Once you decide on &ldquo;the right boat&rdquo;, carefully inspect it and make an offer<\/li>\n\n\n\n<li>Depending on the price, hire a surveyor (<strong><em>don&rsquo;t let the seller hire the surveyor<\/em><\/strong>)<\/li>\n\n\n\n<li>Test drive the boat, with the surveyor if you hired one<\/li>\n\n\n\n<li>Evaluate the boat&rsquo;s &ldquo;saleability&rdquo; <em>(search for liens and confirm ownership<\/em>), as well as its &ldquo;insurability&rdquo;<\/li>\n\n\n\n<li>After closing, you&rsquo;ll need storage for your boat. Check <a href=\"https:\/\/www.neighbor.com\/\">Neighbor&rsquo;s <\/a>for <a href=\"https:\/\/www.neighbor.com\/boat-storage-near-me\">boat storage nearest you<\/a> for your choice of outdoor, enclosed, wet, or dry storage options.<\/li>\n<\/ul>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"Imagine the sun on your face, the wind in your hair, and the sound of water lapping against&hellip;\n","protected":false},"author":42,"featured_media":11071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[190],"tags":[],"class_list":["post-11070","post","type-post","status-publish","format-standard","has-post-thumbnail","category-boat-buying","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Pros and Cons of Buying a New vs Used Boat - Neighbor Blog<\/title>\n<meta name=\"description\" content=\"Deciding between a new vs used boat will mean evaluating your budget (along with your tolerance for risk).\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.neighbor.com\/storage-blog\/new-vs-used-boat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Pros and Cons of Buying a New vs Used Boat - Neighbor Blog\" \/>\n<meta property=\"og:description\" content=\"Deciding between a new vs used boat will mean evaluating your budget (along with your tolerance for risk).\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.neighbor.com\/storage-blog\/new-vs-used-boat\/\" \/>\n<meta property=\"og:site_name\" content=\"Neighbor Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-23T19:24:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-29T22:33:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.neighbor.com\/storage-blog\/wp-content\/uploads\/2023\/10\/New-vs-used-boat-featured-image-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1325\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sanford Slider\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sanford Slider\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.neighbor.com\/storage-blog\/new-vs-used-boat\/\",\"url\":\"https:\/\/www.neighbor.com\/storage-blog\/new-vs-used-boat\/\",\"name\":\"The Pros and Cons of Buying a New vs Used Boat - 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