Successful Boat Buying: 25 Key Questions
With so many choices, it is easy to buy a boat that doesn’t quite work out. In fact, the average length of time a boater keeps a boat – during normal economic conditions – before moving on to the next one is about four years. While that rapid turnover of boats is good for the boating industry, it also means that many buyers are not putting enough thought into their purchasing decisions in the first place.
Buying the “right” boat – one that you will want to keep for 10 years or so – is absolutely the best way to strike the right balance between boating enjoyment and total cost for that pleasure. Trading in a boat every three or four years until you get it right will sock you with transactional costs and depreciation losses every time you trade. Get it right in the first place and you’ll come out way ahead.
Know What You Really Want
“This above all: to thine own self be true,” said Polonius to his son in Act I of Shakespeare’s Hamlet. This old bromide is nowhere more applicable than when it comes to boat buying, which is often the second most expensive purchase an individual makes after a house. A key aspect to getting that boat purchase right is rarely talked about by salespeople.
The key is self-knowledge, and then, as Shakespeare said, being true to it.
25 Questions
The following are 25 questions that we think will give you an important perspective relative to your next boat.
1. Going as fast as I can in a boat is important to me.
2. I enjoy engines, machinery, and have a good feel for mechanical devices, how they work, and how to fix them.
3. I work a tight schedule – my free time is extremely limited.
4. I believe that the adventure and fun of boating is the challenge of piloting, navigation, and seamanship.
5. I believe the fun of boating is arriving at a destination and having fun there. I am more interested in a watersport activity than I am the details of boating. The boat is just a means to an end, not the end in itself.
6. On weekends, I love to putter around with my home/car/garden and fix things. I like projects and hobbies.
7. I have a budget to buy a boat and another to operate and maintain it, so long as the boat is not too big.
8. I don’t like to be different. I like to run with the pack and blend in.
9. I plan to boat on lakes, rivers, and inland waterways.
10. I will do my boating on the ocean, tidal sound or estuary, or the Great Lakes.
11. I look forward to having my whole family aboard my boat most of the time, including grandchildren.
for some people.
12. I want a boat primarily to be by myself and with one or two good friends.
13. I want to entertain aboard my boat and have lots of friends aboard as much as possible.
14. I am only happy with the very best or most prestigious brand in most of the products I buy.
15. I plan to trailer my boat and I know how heavy a rig my tow vehicle can pull.
16. I consider myself a very neat and orderly person, a place for everything and everything in its place.
17. I take pride in the ownership of my house, car, and boat.
18. I want a boat that expresses my personality and passions. A boat that is distinctive.
19. I have a rough idea of what boats would be most appropriate for me at different times in my life.
20. I want to buy a boat primarily for the enjoyment of my spouse, children, or grandchildren.
21. I am ready for retirement and my next adventure.
22. I am single and want to meet people in a boating activity.
23. I am concerned that I might not be able to handle a boat as it seems very complicated.
24. I am busy in my career with limited time and money.
25. I like the status that comes with being engaged with yachting and the social contact that can come with it.
The Bottom Line
The questions above were designed to get you thinking about your personal situation, and if boating is a realistic pursuit. If it has long been a dream, there is no time like the present to buy one, and they will never be cheaper than they are today, and you will never be younger.
Your available time and money are the two most defining personal circumstances that will determine the right size boat for you, and whether it is new or used. New boats are more expensive, but you can lower your size sights, but they come with far fewer headaches, lower maintenance, and with warranties. Used boats are cheaper, but carry baggage, in many cases.
Our experience is that people looking for a “good deal” often get a good deal less with both new and used boats.
By analyzing your answers to our 25 questions, it should be fairly obvious if a new or used boat is right for you, and what the size and type should be. Now, you can proceed with confidence.