Buying a new or used boat?

by Heather Jackson Fenelon Falls Marina

PURCHASING A BOAT? WHAT YOU NEED TO KNOW BEFORE YOU BUY

Buying a boat is a big financial decision, much like purchasing a car. Before you begin looking for a boat it is essential to consider many factors so that you choose the perfect boat for your family’s needs.

Points to ponder before you begin your search: What type of boat/style would you like? How are you going to use the boat? Where are you going to use the boat? How many people must the boat accommodate? Will you keep the boat for many years? How much will the boat maintenance /storage costs be? Will you need a trailer? •What is your total budget?

Once you have considered all of this you need to make the biggest decision.

Should you buy a new or a pre-owned boat? New boats are more reliable and require much less maintenance. They come with a warranty, are sold through dealers and eliminate some of the risks of buying a preowned boat. If you plan to own the boat for a long time, it is worth spending the extra money to buy a new one. If a new boat is out of the question, there is plenty to learn before you purchase a pre-owned boat.

The Pre-Owned Used Boat Buying Process When searching for the ideal pre-owned boat it is important to get an idea of the general price range for similar boats for sale. There are many websites for selling boats that will give you a fair idea of what the value of the boat is. Ensure you do a lot of research on the brand as there are brands that have had persistent issues that will affect the value of the boat. Another source to check the value of a boat the Boat Value Book (published anually). Once you have an idea of what the value of the boat is you should check out Boattest.ca or Boattest.com to see people’s unbiased reviews.

Exterior Visual Inspection Points Propeller damage; Hull damage – recent painting, different paint tones; Bubbling or blistering of fibreglass;

Rotten wood in the deck, flooring, transom; Loose, broken, or missing rails, snaps, rope guides; Windshield condition; Condition of bimini /covers; Broken or missing navigation lights; Upholstery condition.

Water Test/ Drive You wouldn’t buy a car without test driving it first, would you? Same holds true with a boat, even more so than a car. Boats are finicky creatures. They tend to require more attention and maintenance than cars. When you test drive the boat, pay close attention to the following things while underway. It’s a good idea to take along a few people on the test drive. Added weight in a boat can affect its performance and quickness.

Be attentive to the following on your test drive: Vibration - This could mean many things Functioning Trim - For Inboard/outboard, does it work?

Response- Test the steering Planing- How long it takes the boat to come on plane? Shifting- Slips smoothly into gear, or does it jump? Reverse- Does it work in reverse? Gauges & Instruments- Do they work? Bilge- Does it work? Battery- How old is it? Crank size? Flooring- Softness, sponginess, mildew or rotten wood

“You need to make the biggest decision: Should you buy a new or a pre-owned boat?”

Maintenance History on the Boat What major repairs were made to the boat? If a lot of work has been done, chances are there will be lots to come. Is the boat is still under warranty? Ask who the mechanic was and make sure to talk to them.

Certified Mechanical Inspection This is important if you are buying a pre-owned boat from a private person. It is critical to make it a condition in your offer. If the price seems too good to be true, then likely there is an issue with the boat. Having an inspection is absolutely worth the money.

It will generally come with no warranty, so you need to check it out carefully to avoid making an expensive mistake.

Reputable marinas and boat dealers will inspect pre-owned boats and offer a limited warranty. This does not eliminate the necessity to do a water test prior to purchase. This added service and some the peace of mind, will make the price of the boat more, but it may save you endless surprises and issues in years to come.

Closing the Sale for a Used Boat Verify that the (PCL) licence number on the boat matches the number on the ownership document. It must also be registered in the seller’s name. The PCL number is registered at Service Canada. Ensure it is registered in the seller’s name. You don’t want to buy a stolen boat. This is a huge issue in the marine industry. Get a bill of sale for the boat that is signed by the owner, and get separate bills of sale for the boat and trailer. It‘s easier for paying the sales taxes.

Be an informed, educated buyer. Buying a pre-owned boat privately can be a great experience. If something sounds too good to be true, it likely is. If you are buying a boat and need some help, a local marina/boat dealer will help you to ensure you have a terrific experience.