I am currently in the market for a new boat as a first boat. I have debated back and forth between new and slightly used and I just do not feel comfortable buying a used boat and finding out down the road it was not maintained well. I have taken my wife out and looked at different types of boats, she feels that a bowrider would fit our lifestyle well.
Given the current state of the economy and knowing the boat market for new sales can't be that exceptional; I was wondering what kind of offers I should be looking to give on newer boats (17k-22k price point) How much under MSRP would be a good starting point? What kind of add-ons should I ask to be provided to sweeten the deal?
Any advice you can guys can suggest to get the most for my money in todays market would be greatly appreciated.
It's a great market for used boats and you might find some at dealers who will give you some back-up. The price difference between used and new is staggering, and since the engine is the soft spot, you could almost buy a used one, slap on a new motor, and still be ahead. Also the "stuff" that comes on a boat is expensive so rigging a new one adds to the bucks. Any boat, new or old, will require work, repair and maintenance esp. here in Norfolk. Also if you shop Richmond you get one with less salt water history than here.
Also if you don't trailer much get a used trailer; I even had a dealer offer a new boat, used trailer that would save me about $2,000.
You probably won't find much wiggle room on a new boat. Remember, there is still 80% plus of boat enthusiasts that are not overly affected by the economic downturn and will continue to purchase what they want. We constantly hear about the rest. Dealers have adjusted their NEW inventory to reflect the times. Where the deals are are the 2007, 2008 models that are still on dealer lots, and the nearly new-slightly used boats that some individuals purchased and due to personal circumstance can no longer keep them.
Agree with DAVID. If you buy a new boat it will be a used boat after the summer. Look for something used, especially for a first boat. My opinion only, go for an outboard, avoid an I/O. FRED
Thanks for the advice everyone. The points you make about a used boat are the reason I have been debating back and forth for awhile now and your words of wisdom make enough sense for me to consider searching the used market as well; my worry was not having enough experience with boats to make an informed decision on a used one being everything here is run in salt water and some owners just don't take care of their equipment.
I really just want a boat in good shape that fits my wants well enough that I can beat up for a few seasons as I learn more.
I'm a recent 1st time used boat buyer, and can tell you that it's not really any different than buying a used car. I would look for a boat that is 2-3 years old with less than 100 hours. You can find a very good boat in your price range. Look for reputable dealers or marinas to buy from, and have the boat checked out by a professional before you buy. Take it for spin if you can. I saved $15,000 to $20,000 on my Four Winns 224 by buying used as opposed to new.
You will beat up on the boat because its your first boat.. you will bump docks..scrape lower units.. i would never buy a new boat and especially not my first boat.. I would purchase a 2002 or older boat and have the motor compression tested and sea trial and then just enjoy.. if something goes wrong try to fix it if you fail then take it in.. after a year or so of owning and operating a boat you will find out how important to you and how much you enjoy it. then I would make a decision as to invest more money into this hobby.
In Norfolk there are a lot of mechanics who make "dock calls." Why not hire one to go with you on sea trials?
For comparison I got a 2003 BMT for $15,000 that new (same make, model and motor) is listed $39,000 on sale $29,000 at a dealer--and I don't think that includes trailer, certainly not radio/depth/GPS/anchor/compass and trim tabs. So in a sense I have $14,000 left in the budget to ramp up my used boat to new. Or another way to look at it, if my budget was the $15,000 I spent, my new boat would have been 8' shorter than my used one!
Like the last post mentioned, have any used boat your interested in checked out by a pro. I'm getting ready to pick up my first boat. I've been shopping since Feb and have already put refundable deposits on two boats that didn't make the cut. I'm an electician by trade and an avid do-it yourselfer and I missed things that would have had me upside down in those boats right out of the gate. Anyone that won't allow you to have their boat inspected by a reputable marine service is trying to stick it to you. Good luck with your search.
You could do like me, get an old (but solid) beat up boat to learn the ropes on. Smacking the dock with an old boat may be embarrassing, but not worrisome or expensive. Then once you learn the ropes go new. The best part of an old boat is learning what makes it tick, and how to fix it. Thus you are far more comfortable on the new boat, and simple servicing doesn't become so expensive. Also nothing like hitting bottom with a brand new outdrive!
But..that's just me.
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I was lucky enough to learn the boating ropes from a seasoned boat owner (my inlaw). Learned to drive his 3 boats and then bought a small runabout fixer upper.
I'm not saying this has to be your case, but I conccur with all that suggest getting a used boat to "learn". One of the things you must have in mind is, boats don't have brakes
As suggested before, a used boat 2003 or newer with low hours could suit your needs just fine. Although you never know how badly a new boat can be treated in a few hours by an inexperienced boater; hence the importance of a qualified mechanic to inspect it for you.
Another option could be bank repos; I've seen great deals just by surfing the net.
Depending on how many people are going to ride with you, a 17' bowrider is a great choice. I just got one, and am really happy with it. Big enough for 5 adults and 4 kids, and goes easy on the gas.
Happy hunting.
Cheers!
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'09 Glastron SSV 170 / Yamaha F75 HP
Here is the contrarian viewpoint: When I was in your situation several years ago, I wanted to go with the "gently used" route. I looked all summer and every boat I saw was abused and just a few thousand below MSRP. I never found one I liked and honestly everybody seemed to think their boats were worth an awful lot.
By fall I noticed some dealers were really stating to hurt, and by November I was able to get a new boat, about 10K under MSRP and CHEAPER than most of the 1-3 year old boats I had looked that summer.
Yes, boats are cheap in the winter and maybe the economy has made people more realistic about the true value of their boats, but I just never saw the deep depreciation everybody talks about. I am happy with a new boat, knowing that it has not be abused.
I too have been looking for a new-to-me boat, although a pontoon. There aren't that many gently used 25 footers out there, and those that are, are priced close to new prices. Couple that with the fact that every dealer that I have been to (6 so far), is willing to deal. They need to get the old inventory off the floor plan so they can get ready for the 2010's that arrive mid-summer. Three were ready to deal for $500 to $1000 over their factory invoice, plus throw in a bunch of goodies such as SS prop, anchor, etc.
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I was in the same position as you! Last fall I went fishing with a buddy on his $300 auction boat and had a blast. I wanted a NEW boat.
Wife and I started looking and found $16k new boats were $20K OTD. We looked at a new outboard boat and it was 16K (in our budget)- (over, and we would have to finance - don't need that), then the salesman asked what motor we would like to put on it! I craped my pants! That boat didn't include a motor at that price! Frankly, that is too much money for what you get. We decided to go used. We looked from Aug-March for a newer >2005 ski-or-fish. You have to be careful, people wanted to sell and didnt have a pink and they owed more than what they were selling for. -BEWARE!... We ended up buying a repo boat on ebay at a fair price. And no loan! Boat is great and good as new! We are very happy with our 'used' boat.
I treat this boat like gold, I would not dream of hitting a dock with it! When I get home, I wax it and flush it and wipe all the salt off. The boat is a rush and a half!
Good luck finding your boat!
You can find very good deals out there. You need cash and you need to be patient.
If a boat was repossessed you can bet it wasn't cared for. You can run a neglected car when the engine knocks and the transmission slips and the muffler's loud and the brakes squeak. Get a pin-hole in a diaphram the size of a dime; run untreated gas that's 6 month's old, and you have a rowboat. It might still be a good deal if you have to put a new motor on the day after you buy it.
As for the hull, a simple center console is easy to look over. A plush cabin boat is a collection of things to break the day after you buy it. Just be ready.
Trailers are expendable unless you plan major hauling of a major boat.
A pin hole in a diaphragm can develop on any boat at any time and is more unlikely on a newer boat.
The repo boats we looked at were new, never been in water or demo boats from closed bankrupt dealerships. These boats are selling around here for 30-50% off retail price. They can't sell them as new, so they call em repos! The bad news is, of the five dealers in my area, only one is left! In other areas it's worse! Before the downturn you could drive 50 miles and see 500 new boats at any given time. Now you don't see them. Where did they go? -to auctions, other dealers, shows etc.. A dealer outside our area is selling "repo" Reinell boats at substantial reduced price because he is not a Reinell dealer. Reinell didn't go out of business the dealers did.
And…, financing.
In this financial climate a lot of people are unable to secure financing for non-necessities like boats placing further pressure on manufacturers and dealers to sell product. That means a buyer with cash or their own financing can get a great deal on a boat. As a personal choice, I would never finance over 50% of a boat. That’s just me though… I would pay it off quick too.
Not to discourage or sound pessimistic but I have learned that, regardless of what you ~plan~ to spend, you end up spending ~more~. Be it out of desire or necessity, it just happens!
Remember:
Regardless of the age of your rig, among others, Boat stands for:
Thanks for the advice everyone. I have stopped looking at new boats and looking to buy used. Right now I am trying to get arranged a time to look at a 87 21ft Searay bowrider with new motor (GM 350), new carpet, new upholstery, new top, etc.
Hopefully the hull and transom are in good shape because I like the idea of having a bit more motor.
This is from someone who didn't follow the advice above and bought a brand new boat as his first boat.
It was last year. Got a factory-ordered 17.5 foot aluminum fish & ski with full console and lots of options. Negotiated the deal at the boat show. The original sales price was pretty good, but they threw in a few extras we asked for to sweeten the deal, including their best trailer with disc brakes, spare tire, loading guides and folding tongue; a snap-on canvas travel cover; bow rails that weren't offered even as options on that particular model, but that the factory put on for us anyway; upgraded trolling motor and electronics; etc.
The motor we ordered was a Merc 115hp 4-stroke. The promotion included extending the motor's warranty from three to five years at no additional cost.
And now for the "knock on wood" part. Took the boat out 30 times last season and it still looks like new. (This is where the "wood" I'm knocking on is really the back of my skull!). I'll take most of the credit, though. After ordering the boat, but before taking delivery of it, I took a safe boating course through the U.S. Power Squadron. Neat class. Different instructors covering their area of expertise each week. I asked lots of questions and learned a lot, including rules of the road, lateral and non-lateral markers, and the things people do that wreck the finish on their boats. And before taking her out yesterday for her spring commissioning, I took the online MN DNR safe boating online course (it's been recently improved, by the way, and is great!).
Another good reason for our success was the GPS/Sonar unit with a lake charting chip. It lets you see where those nasty rock formations and shallow areas are AHEAD of time!
And, finally and perhaps most important, the thing that gave me confidence to even try this boating business came from what I learned right here on this forum!
Yes, I tried finding a young used copy of the model boat we wanted, but they were few and far between, and those that were available were priced unreasonably high. Buying new was a few thousand more, but everything came with a warranty.
When the time ever comes to sell the boat (actually, I plan on giving it to my son who is also my fishing partner and helped pick out the boat), I'll provide a 3-ring binder that shows it was professionally serviced by my factory authorized selling dealer every year, along with receipts for everything else we needed to buy that weren't included with the original purchase (Richter anchor, for example).
But do you want to know the REAL reason I bought new as a newbie boater? Well, last year I turned 60. Not sure how many good years I have left to have this kind of fun, but I am sure I don't want to spend any of that time trying to figure out and pay for any previous owner's problems.
So, new or used. Good grief; all this writing, and it really all boils down to your own personal situation...
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2008 Lund 1750 Fisherman
2008 Merc 115hp 4-stroke EFI
2008 Shorelandr' Trailer
And two wonderful golden retrievers
New Boat Purchase Advice
; hence the importance of a qualified mechanic to inspect it for you.
She's a RIOT!
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