No matter what you're shopping for, you wouldn't want to overpay for the purchase, so when it comes to buying used boats you want to make sure that you're getting the best deal for the money you spend. This presents a problem for many who want to be boat owners but lack basic knowledge on how to value a used boat to buy. Luckily, there are a few good places where you can get some basic information to help you.
Used Boat Guides:
If you're shopping for the more popular boat models you'll find several guides that can help you to determine the value of the boat you're thinking of buying. These guides work very much like the Kelley Blue Book does for used cars and list the values of hundreds of models of used boats. Keep in mind that the figures you get from these guides are merely estimates that are designed to give you a ballpark figure for the value of the vessel. To determine the true value there are many other factors that must be factored in, such as the age of the boat, its present condition, and the number of features and amenities it has.
Determining The Condition:
If you're shopping for a jon boat or maybe a canoe, you'll need to make a visual inspection of the boat to determine its condition. This is one of the most important steps in how to value a used boat to buy as you can see firsthand its true condition. If the boat shows evidence of excessive wear and tear or you can see that it hasn't been maintained in a good condition, your valuation should reflect that. The problem with this step is that most of us are not knowledgeable enough to determine the true condition of a boat or any size. That's why so many choose to bring in a third party to help them to decide.
Get A Marine Survey:
Marine surveyors are independent professionals who do pretty much the same thing as your mechanic will do with a car you're considering purchasing, except in much more detail. A marine survey can be dozens of pages long and can give you a very detailed report on a particular boat based on the US Coast Guard regulations. After determining the true condition of the boat they will provide you with a fair market value for the vessel you're considering purchasing.
Knowing how to value a used boat to buy is extremely important to anyone considering purchasing a boat. Whether you do your own walk through of the boat yourself, refer to the book, or hire a professional surveyor to do it, the information you gain could literally save you thousands of dollars over the years of your ownership. Anyone who is savvy enough to purchase a boat understands how important it is to know all of the facts before making a final decision. By doing this, you protect yourself from scammers, ensure that you are within the proper guidelines of the government, and can easily tell if you're getting a good deal or not.