Now this isn�t necessarily the glamorous decision. The waterways are filled with boaters who are wealthier than most people. Some boaters finance their purchases at a lever well beyond their means. Boating can be a display of wealth, brand consciousness and testosterone. For some, it�s all about keeping up with the Jones'.
That said, what really counts is being on the water. Someone who is out every weekend on his beat-up 12-footer is a great boater. The businessman who only has time to ride on his 58-foot yacht twice a year isn�t a boater at all. Look around the waterways. The little boats are the ones moving. The big boats are the ones that never go anywhere. If you are too busy earning money and don�t have the time to use your boat, what�s the point of having one?
Practically speaking, a boat can easily lose half its new value in two years. Appearance and mechanical condition will not diminish much in 24 months. It�s just common sense that a used boat is a better value.
With used boats, the previous owner has already fixed all the �shake down� problems that come with a new boat. They have already hassled with the dealer to get warranty service done.
Pre-owned boats generally haven�t been �used� very much. Boats sit most of the time. It�s not like buying a used car. You�re not necessarily buying someone else�s problems. It�s easy to find boats with less than a couple of hundred hours of engine time. For comparison�s sake, imagine how many hours are on your car�s engine.
Used boats usually come with dock lines, life jackets, a spare prop, a VHF radio, safety equipment and other nice add-ons. New boat owners have to shell out several hundred dollars for this stuff.
Used boats already have scratches, dings and stains. You won�t feel as bad when you inevitably add a few of your own.
Used boat buyers should leave an extra $1000-$2000 to outfit the boat and make repairs that aren�t apparent at time of purchase.
After three years time, most first time boater buyers have upgraded to a larger boat or stopped using their first boat altogether.
Boating magazines are beholden to boat manufacturers (the magazines� major advertising customers.) They�re not editorially objective. Boating magazine writers have never seen a new boat they didn�t like. Magazines will always encourage you to buy new and unfairly discourage you from buying used.
Of course the wildcards with used boats are structural/mechanical condition and whether the previous owner did the proper maintenance. Prior to purchase you must get a used boat surveyed (including a sea trial) to be assured that it is in reasonable condition. You must also willing to absorb mechanical repairs over time (the same is true when a new boat goes out-of-warranty.)
