How to Buy a New Boat

If you're looking for a boat with the longest possible life span, buy it new.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Sailing Magazines

1. Look for boat review articles in sailing magazines. Libraries in areas in which sailing is popular may have back issues. Check Web sites.
2. Find the right boat style, size and equipment for your needs and budget. There's no better place to do this than at a boat show.
3. Know what you're looking for before you start shopping.
4. Introduce yourself to dealers who sell the boats that appeal to you most.
5. Explain your interest in buying a boat, and the dealer or the dealer's representative should provide you with more than enough information.
6. Ask about production schedules. Deliveries often lag as much as a year behind orders.
7. Study brochures and sales materials.
8. Make your best deal. Most dealers offer boat-show specials. The special offers can range from discount prices to extra equipment. Be aware that these offers can sometimes be confusing.
9. Submit a credit application to the dealer's recommended lender.
10. Contact other lenders, including your own bank, to research the best deal.
11. Prepare yourself financially and emotionally to become a boat owner.

Tips & Warnings

• Companies that sell new boats are called dealers, and those that sell used boats are brokers. Some companies are both dealers and brokers.
• The best time to shop for a boat at a boat show is on an off-peak day, such as a weekday.
• Boat salespeople push hard for a contract and a check on the spot. Get your deal in writing. Take time to evaluate the offer and compare it to other available offers. Come back later. You may find some leverage you didn't have during your first meeting.