Buying a boat is often part of many a mans dreams. After all, a boat is second only to a private jet when it comes to flaunting your wealth and declaring your superior social status to the world. But now that you have saved and scrounged and are ready to buy that dreamboat, we have some boat buying tips for you. Before you spend a sizeable amount of your hard earned money on it, here are some factors you should consider.
a) First consider the type of boating you intend to use your new boat for. This is very important because many people buy a boat that doesnt fit their needs. The nature of the water and the climate also has to be considered. If you want to go for boating in small, sheltered bodies of water, a small but good boat will suffice. In a colder climate, get a boat that offers more protection. In warmer climates, get an open boat with a shade.
b) After zeroing in on the type of boat, think about whether you want to buy a new or a used one. A used boat will obviously cost less and will probably be customized to accommodate more accessories; but you may have to bear the expense of repairing and upgrades. On the other hand, you get a new boat with a full warranty, which nevertheless depreciate from the moment the boat leaves the showroom. In fact, the best places to buy new boats are boat shows. You can find and check various models at the same time. Boat Show Specials can also serve your purpose. If you opt to purchase a used boat, shop by browsing classified ads found in newspapers, magazines and on websites.
c) After you have found an interesting used boat, call the U.S. Coast Guard and check for manufacturers recalls for that particular model. Obviously, if you find that a model has been recalled, you need to check whether the recall is in effect at the time of your purchase. Second, you must check with the owner to see whether the defect that led to the recall has been repaired. Also always check for original sale documents and beware if they are not produced.
d) When inspecting the engine of the boat, watch out for the following warning signs:
§ Oil in the bilge indicates a leak
§ Check to see if there is oil in the gear case
§ If the drive, rudder or propeller have hit submerged items, the clues should be obvious to spot, so check these areas carefully
e) Once you finish with the engine, run the following checks:
§ Operate the steering and throttle controls by going on a test run. Any loose cables and connections should immediately become apparent
§ Check if the propeller shaft and rudder stock are straight
e) Always go for a test trial on your boat. Check and see if the engines are already warm before you turn on the ignition, because that may be a sign that the previous owner has secretly warmed it up to hide a possible ignition problem. Always inspect the bilge at the beginning and end of the trial for oil leaks. If you are on a sailboat, raise the sails and check to see how the mast takes the full load.
f) Weve left the most important aspect for last the price. Once you have done the trial run and think the boat is worth buying, begin the bargaining process. Remember, it is not always a given that a boats market price will remain the same regardless of its condition. You can always claim discounts on the basis of your sea trial.
Once you have fixed the final price, you must form a written agreement with the seller. The agreement should include payment terms, a detailed description of the boat including all accessories, a record of repairs that will have made and who will pay for them, and all similar relevant clauses that you deem essential. If necessary, consult a marine law expert before signing the agreement.