Buying a boat can be an exciting step to take when you’re ready to spend more time out on the water. Purchasing a boat will offer a high level of luxury and can make for an investment that increases your quality of life. When you’re looking to begin shopping for a new vessel, there are a few steps to take.
Decide Between New Vs. Used
There are several factors to weigh when it comes to deciding between getting a new or used yacht. You can save money by purchasing a boat that is pre-owned, but there may be issues present that have developed when it’s been in use. You’ll need to hire a marine surveyor to inspect each part of the boat and determine if any repairs are needed.
New boats often run flawlessly and are less likely to have issues that develop due to the new parts. You’ll be spending more money but may not need to pay for repairs or improvements that are needed on older boats.
Find a Dealer
Look for a yacht dealer that is committed to customer service and can offer newer models. The dealer should continue to provide their support several years after you make your purchase. They will also provide you with a warranty to ensure that repairs are fully covered for a period of time. Obtaining a warranty will offer peace of mind if mechanical issues occur after you begin to use the yacht.
Purchasing insurance for your boat is essential to cover any damage that occurs if there’s an accident. Some boats also qualify for a tax deduction if it’s considered to be a second home. If you need a loan for the boat, choose a qualified marine lender who has several years of experience in the industry. The boat should also be registered with the state or documented as a U.S. Flag vessel.
Take a Test Drive
Test out the boat before you make an offer to ensure that you feel comfortable operating it on the open waters. You should feel in complete control of the yacht and have an easy time turning it.
When you’re looking to enjoy using a boat, there are several steps to take to complete your purchase. You can get plenty of use out of the vessel and own it for many years to come.