New Vs Used Boats – What’s Right For Me?
Buying a boat can be tough and there are many choices to be made, what brand, sizing, function, the cost etc! New or used? But what is best for you?
There’s a number of options when it comes to finding the perfect boat for you – but the choice will largely come down to your real budget. You should bear in mind that there are a number of options you can consider when it comes to your budget for your perfect boat, and it doesn’t always come down to what excess cash you have available.
Already own a boat?
Should you already own a boat and looking to upgrade or incorporate it into a new deal, then there are many ways you can, for example, part-exchange, brokerage or cash sale.
Our yacht brokers can talk to you about the best option for you when considering a new boat purchase.
Marine mortgages are becoming extremely popular with boat buyers, you can maximise your hard-earned cash in the way you want, and ultimately making it work better for you. This means you don’t have to use up all of the cash you have available, but instead opt for a marine mortgage which will allow you to buy a bigger and better boat more suited to your needs, potentially in a shorter timeframe.
There are no penalties for making lump sum payments or paying off your marine mortgage early, so it really is an option which should be given serious consideration.
Once you have established your real budget, your next question will need to be, “what layout do I require on my boat?”, which will determine its length, and then you’ll want to determine the age of boat you’re looking for.
These factors will then define the route you take for either a new or used boat.
New vs Used:
There are many advantages of purchasing a new boat over a used model. The first, and probably most obvious, is that you’re purchasing something no-one else has owned, so everything is brand new!
There’s always something special about being the first owner of a brand-new boat! You can ensure that it meets all your desires - eliminating the need for compromise!
You can dictate the interior of the boat, from upholstery to electronics right down to surface finishes, etc. There’s nothing nicer than being able to choose your own fittings on a brand-new boat!
The next, and another major benefit of a new boat is its warranty – our manufacturers provide excellent warranties which ensure that any arising issues with the boat are dealt with by the manufacturer via ourselves.
Warranties on our new Jeanneau motorboats are available for up to seven years and separate engine warranties up to five years – further details on all the warranties available can be provided by our yacht brokers.
You will invariably find that with any major large purchase, there are likely to be little snags and issues which have to be addressed – but don’t worry, that will come down to us to resolve as the seller!
There are already so many amazing benefits to owning a new boat over a used boat, however, there’s more!
A new boat will give you the benefit of the latest innovations, technological builds, the most up to date navigational and operational tools to assist with manoeuvrability and navigation, resulting in greater longevity of these instruments.
There are no hidden surprises with a new boat – you will know the boat’s history and there’s always that comforting feeling of knowing that no-one else has used the boat’s facilities!
Advantages of a used boat:
The main advantage to purchasing a used boat is always going to be cost! Buying a used boat can be a great way of keeping within your budget – a reasonable boat, at a reasonable price!
Similarly to a used car, the depreciation of a boat will have already occurred, while they can still be expensive, they are cheaper and can help when it comes to looking at your budget!
However, always be wary before purchasing and check for any general wear and tear, check all components and ensure you are happy before making the all-important decision.
When buying a new or used boat, providing that you buy well, that the boat is in good order for its age and you then take good care of the boat, you should not be concerned about its depreciation. A good quality, well-kept boat will be a rewarding investment and one which you can share with the whole family!