How to Trade in a Boat

Assess the value of your boat before the negotiations begin.

If you have your eyes on a brand new boat, trading in your current vessel can lessen the financial strain and reduce your monthly payments. In many ways trading in a boat is the same as trading in a car. You want to get the highest possible price for your current boat, while negotiating the lowest possible price for the new boat you're buying.

Instructions

1. Check the asking prices of used boats of the same make, model, year and condition as the one you have to trade in. Shop at boat shows, read the local classified ads and visit boat dealers in your area to get a sense of what your boat might be worth.

2. Shop around for the best deal you can on the new boat you want. Negotiate a deal for the new boat without mentioning the boat you're trading in.

3. Clean the boat thoroughly and polish all the fittings. Make any small repairs you can perform yourself, and make sure the boat is in top shape before you take it to the dealer to negotiate a trade-in amount. All these things will help increase the used boat's potential value.

4. Take your boat to the dealer where you're buying the new boat. Negotiate a price for your used boat, based on the information you've gathered. If you have hard copies of classified ads or price quotes from local dealers, bring them with you and use them in the negotiations.

References

• Yacht Council: Selling Your Boat
• Discover Boating: Tips on Buying a Boat for the Budget Conscious