Don’t Be a Cheapskate – Buy a New Boat

For most folks, budget is an issue when it comes to buying a boat. You want to get the best boat you can for the money you have. You want to be able to get a boat that’s nice looking, that is mechanically sound and that is designed to do what you want to do with it. You want a boat that isn’t so nice as to create a huge boat insurance bill, too.

So, you take the same approach as many people do with a car. Sure, you could buy a new basic minivan for $25,000. But, for that same $25,000, you could buy a three- or four-year old loaded Escalade. Now, which of those two vehicles is going to turn more heads (and provide you with more creature comforts)?

Yes, used boats are less expensive. Yes, you can get more boat for the money. Your loan payment will be lower, and so will your boat insurance costs. You also don’t have to soak up that depreciation loss that comes and hits so hard in the first year or two. The same benefits to buying a used car do hold out when buying a used boat.

However, there are some advantages to buying a new boat that don’t necessarily translate to the automobile world. For example, new boats:

Provide the latest in technology, design and architecture. The rate at which boating technology has moved in the past few years has been higher than that of the automotive world, and buying a new boat gives you access to the best features.Contain new MEP (mechanical, electrical and plumbing) systems. Boats don’t have the kind of design durability that comes from a car. Even the best boats won’t give you the kinds of hours that you can get from an automobile. Things break and wear out more frequently on a boat, in part because it’s moving through water, as opposed to air. New systems mean fewer breakdowns.Provide greater peace of mind. Sure, you’re willing to risk that the

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