Looking to buy first boat, need advice.

[glocklt4]

So I have never owned a boat before, but I am getting an itch to take the plunge. I have been doing a lot of reading and talking to several people with questions. I have also been weighing out the costs of renting vs owning, which are below. So far here are the specifics of what I'm looking for:

- 18-22 foot runabout
- 190+hp, 4.3L or larger
- Open Bow
- I/O
- Prefer Sea Ray because I have driven a couple and am impressed with the quality. Would also consider Chaparral from recommendations.
- Use would be cruising, skiing, wakeboarding, tubing, party cove, and some fishing.

My constraints:

-Slip is too expensive for my taste. Going to trailer it to/from lake, which is luckily 5 mins away. Hoping it will fit in parents drive way to save parking spot at storage facility.
-Looking at spending $10-17.5k, $350/mo total besides gas (so including loan, insurance and maintenance).

Rent vs. Buy:

Renting: $200 each time gf and I rent ($600 1 day for 6 people incl. gas). Must factor in getting friends to go too, or it's a total bust because I'm not spending $600 all at once for gf and I to rent a boat for ONE day. Most of the time we want to go it's a holiday weekend and rentals are all full too.

So, $200 rental each time, and I would like to go out say 2 times a month over a 6 month season. That is $2400 a year burned with nothing to show for it but fun.


Buying: $200/mo loan cost, $30/mo insurance, free storage at my dad's hopefully, $100 a month gas, and $150/mo in maintenance. Gas and maintenance for half the year, then loan and insurance for full year is $4560/year, not including hassle of taking boat to lake and getting it in.


I am a good mechanic working on both of my vehicles, including a corvette. I am not too worried about working on the engine, however I am not even sure what other mechanical parts there are to a boat which need attention.

Any recommedations based on all of this?

 

[KCook]

Re: Looking to buy first boat, need advice.

Depends on your area, but rental may not be quite that bad. When I've rented, it's always been for a half day. Which is a good deal less than full day charge.

Kelly

 

[45Auto]

Re: Looking to buy first boat, need advice.

Your numbers look good except for the gas number. $100/month and going out twice a month is $50 each time. That's about 12 gallons. A 4.3 is going to use about 5 gallons/hour at most efficient cruise, around 25 MPH.

- Use would be cruising, skiing, wakeboarding, tubing, party cove, and some fishing.

A full day of cruising, skiing, tubing and wakeboarding will probably be at least $100 each day. Of course that is highly dependent on how much time you're actually running the boat versus just sitting on the water. If you plan to concentrate more on the "party cove" aspect than $50 should work fine!

 

[imported_TheMan]

Re: Looking to buy first boat, need advice.

I usually spend $50 or less on gas each time I am out on the boat on a weekend day and that is for about 5 hours of enjoyment. That includes some minimal cruising, wakeboarding, tubing, and of course some floating/beaching to relax.. If you bring some friends to share the cost of gas, you will be in great shape.

Based on what you have stated and comparing it to my own situation, I would suggest you purchase a boat. I purchased my boat for 2k and it has been pretty impressive for the price. My improvements/repairs/upkeep costs over the past two years has probably totaled about $500 but it has all been done by myself. My maintenance has been nowhere near $150/month.

I also don't have any insurance on the boat, but I don't boat in very populated waters where I would worry about somehow damaging someone else's boat/property. I'm not too concerned about insuring my own boat against damage, especially considering how much I paid for it.

If you look around and are patient you should be able to find a great boat for a great price, especially now with gas going up.. Many people are looking to dump their boats. You can also probably find a boat with minor problems that you can fix up at a fraction of a better boat cost.. Case in point: My friends are selling a late 90s model open-bow Bayliner ~21ft with 350 V8 for $6000. Engine hour meter is less than 100 and it has barely been used. The original estimated value was around 8k, but they had some leak problems on the cover that damaged the vinyl and are looking to sell it for 6k and probably will settle around 5k. If it weren't in back up in Michigan I might think about buying it from them..

Anyway, my $.02.. Your mileage may vary and best of luck!

 

[tashasdaddy]

Re: Looking to buy first boat, need advice.

buy a boat then you can use it when you want, and not be at the mercy of availability of a rental. your maintenance cost is high. especially if you do your own winterizing. 4.3 fine for 18ft, larger for the larger boat. i usually spend around 200 a year on my outboards. and $300 a year on my I/O maintenance.

i also suggest that you look at the deckboats that are available. they have more usable room than the bow rider, with the same performance. most have the potty for the girls.

 

[tmh]

Re: Looking to buy first boat, need advice.

Buy a good used boat and you have many benefits over renting. You KNOW when you can use it; you have all your water sports toys aboard, you usually have a better cared for boat; you have pride of ownership, etc. Fortunatley for you, used boats are going for much less this year than in previous years due to gas porice and te economy. You need gas for a rental also so that's a wash.

If you are handy as a mechanic, you can save a ton on owning a boat, older especially. Make sure you get a mercruiser or Volvo Penta drive as parts are easily found locally or online.

Searay and Chap are fine brands but fairly expensive. Nothing wrong with that, but don't rule out the other brands when buying used - you may find a Rinker/Four Winns/etc. 10 years old in great shape and it's a much better boat than a Searay or Chap in just OK or good shape!

Lastly, don't look at used boats like you would used autos. There are MANY boats out there that are 10+ years old and in almost like new condition. Many people own boats that they baby and also hardly use them (you want some useeach year but light in a used boat). Just carefully inspect the boat and maybe have someone who really knows boats survey it for you when you find the one you want to buy. Boats depreciate fast so anything 5-7 years and older can be a great savings.

If you buy a used boat right, then it's value will only slowly go down each year you own it. If the economy improves, whch it will at some time, then maybe you can buy cheap enough now that the value will hold a few years. It WILL cost you some to own, no doubt. But PM work may be the bulk of it and not overly tough to do yourself.

 

[BULLWARKS]

Re: Looking to buy first boat, need advice.

Best advice I can give you if you are buying used is to get this book.
http://www.amazon.com/Boating-Magaz...bs_sr_1?ie=UTF8&s=books&qid=1215692526&sr=1-1

Boating Magazine's Insider's Guide to Buying a Powerboat: Featuring Tips and Traps for the Smart Boat Buyer (Paperback)

It is an excellent resource.

BW

 

[avenger79]

Re: Looking to buy first boat, need advice.

great post to start. As you can see from my post count I am no expert in this area but I do think I can help you out a little here.
I got my first boat this year. Decided to buy used because I'm pretty good at maintaining and repairing all my vehicles which include cars, camper,truck, motorcycles etc. Boats should be easy. If I enjoyed it I would upgrade next year to new/newer.
So I bought my used boat took it out a few times and loved it. Was very hard to start when cold but if it just makes it through the season...then I got towed because it quit. Now I'm in the middle of the season trying to chase down gremlins in a machine that I do not know the history of. I will get it sorted out but will probably lose the heart of the season or succumb to allowing a shop to have their way with me and allow them to fix it.
Things on boats are not at all in a normal position for guys like us. Now granted my little experimenter has two things that you wouldn't have. One it's old. '79 hull and '68 engine. Two it's an outboard so the engine layout is completely foreign to me. I'm getting it figured out but man these things are weird.
Here's my spiel and what I've decided to do. I usually buy new vehicles. People are becoming increasingly good at hiding the abuse they have suffered upon vehicles so I find it easier to buy new and then I know the entire history of a vehicle. I will either be purchasing a new ride this year at pretty good savings because it's deep into season or suffering through this year and buying new next year. Gives me a little more time to research and a little more money to spend as well. Personally I would avoid the used boats out there unless a new one is way out of the budget or you really want a project. After getting mine and gaining a little insight into the boating, I have seen very few boats for sale that do not need something. I figure if they tell you it needs ..... that means they don't want you to notice that they've also neglected this, that , and the other thing.
I'm not giving up on the little speed boat. In fact I'm going down tonight to get some parts to begin the process of getting it back in the water. I love the boat and it's character. That's why I got it instead of a normal tri hull or whatever but it would have been nice to make it through the season. I will also keep it when I get the new one just to putt around in now and then.
If I were you I would definitely buy over rent. So much more convenient, and it's fun to go out and "work" on your toy when you want to spend time with it. I enjoy cleaning, maintaining, and just admiring my vehicles sometimes. I think with rentals you only get a small percentage of the fun. Can you really call yourself a boater if you only go out and ride around a little then go home?

 

[ThePostMan]

Re: Looking to buy first boat, need advice.

I will only add this question: are you up north or down south?

This is just my opinion, but I believe there are certain things you NEVER finance, and among them are motorcycles, televisions, and BOATS. Taking on a note for a boat is ok if you can justify it, will be using it as a primary source of recreation, and can get year-round use out of it.

If you're up north, the boat will spend a lot of time in storage, and you might get occasional use out of it, find a clean used boat that you can pay cash for, and save that boat payment to put in the gas tank.

Again, just my opinion. . .there are just too many good used boats out there to consider brand-new right now.

 

[glocklt4]

Re: Looking to buy first boat, need advice.

Your numbers look good except for the gas number. $100/month and going out twice a month is $50 each time. That's about 12 gallons. A 4.3 is going to use about 5 gallons/hour at most efficient cruise, around 25 MPH.



A full day of cruising, skiing, tubing and wakeboarding will probably be at least $100 each day. Of course that is highly dependent on how much time you're actually running the boat versus just sitting on the water. If you plan to concentrate more on the "party cove" aspect than $50 should work fine!

Yeah, i think it will be a good mix. I was just throwing $100 out there. I would be fine with $150 too. Most of the people that are going to end up going out with me are willing to pitch in some gas $ to go out anyway.

 

[glocklt4]

Re: Looking to buy first boat, need advice.

buy a boat then you can use it when you want, and not be at the mercy of availability of a rental. your maintenance cost is high. especially if you do your own winterizing. 4.3 fine for 18ft, larger for the larger boat. i usually spend around 200 a year on my outboards. and $300 a year on my I/O maintenance.

i also suggest that you look at the deckboats that are available. they have more usable room than the bow rider, with the same performance. most have the potty for the girls.

Ok, good.. you hit on a subject I have yet to find ANY info about online (maybe searching with the wrong terms).

I have no idea what exactly a deckboat or runabout boat is. Where can I read about the different types so that I can narrow down what I'm looking for better. Thanks!

 

[glocklt4]

Re: Looking to buy first boat, need advice.

I will only add this question: are you up north or down south?

This is just my opinion, but I believe there are certain things you NEVER finance, and among them are motorcycles, televisions, and BOATS. Taking on a note for a boat is ok if you can justify it, will be using it as a primary source of recreation, and can get year-round use out of it.

If you're up north, the boat will spend a lot of time in storage, and you might get occasional use out of it, find a clean used boat that you can pay cash for, and save that boat payment to put in the gas tank.

Again, just my opinion. . .there are just too many good used boats out there to consider brand-new right now.

I'm in Dallas, so I will be able to use it a lot more for sure!

 

[Uraijit]

Re: Looking to buy first boat, need advice.

A runabout is a small boat used for transporting up to 6-10 people (basically any watersports boat is a runabout). Generally they will be a V-hull.

A deck boat is generally a "pontoon boat".

You should check out this site. It's got lots of good information for people new to boating. http://www.boatingbasicsonline.com

 

[glocklt4]

Re: Looking to buy first boat, need advice.

A runabout is a small boat used for transporting up to 6-10 people (basically any watersports boat is a runabout). Generally they will be a V-hull.

A deck boat is generally a "pontoon boat".

You should check out this site. It's got lots of good information for people new to boating. http://www.boatingbasicsonline.com

Perfect, thanks for the link!

 

[glocklt4]

Re: Looking to buy first boat, need advice.

Depends on your area, but rental may not be quite that bad. When I've rented, it's always been for a half day. Which is a good deal less than full day charge.

Kelly

Rentals here are about $300-350 for 4 hours. We always end up going over the 4 hours because we're having too much fun so it ends up costing closer to $400-50 for 5 hours. From all of my calculations so far, it would be better to buy if I go out frequently than rent at these prices since half days just don't work for me.

 

[jbjennings]

Re: Looking to buy first boat, need advice.

Being a cheapster with a little mechanical ability, I have a few things for you to think about. BTW, a deckboat isn't a pontoon boat. Unlike a pontoon boat, it's more like a normal boat in that it will plane out and run a lot faster. It's kind of hard to describe but if you do a google pic search you can easily find pics of one. I've never owned one but can see where it'd be great for skiing and family cruising and such. Personally, I think the runabouts are not great for fishing. take your time and make sure you get a long test drive. Insist on getting to drive it at least a little ways away from the dock. A boat surveyor would be a good idea.....sometimes I get a little excited and forget to check important stuff.
Good luck,
JBJ

 

[tmh]

Re: Looking to buy first boat, need advice.

Just to clarify....there are sort of 2 kinds of "deck boats". One is the old style basically a smaller pontoon type boat I guess. Now there are many deck boats that are "sport decks" and are more like a bowrider with a wider, more square bow. The have a hull similar to a bowrider. These are the ones that may fit a family well for cruising and water sports. They offer a bit more space to move around, and some have bow ladders for swimming, etc.

You'll never "get it" all until you go look where they have lots of different boats. Shows are great for this as are marinas with bigger showrooms and more lines carried.

Have fun.

 

[glocklt4]

Re: Looking to buy first boat, need advice.

Thanks guys. I am hitting up the Dallas Boat Show here in a couple weeks, so I am excited to learn a lot there as well. Maybe I'll find a good deal there too, never know!

 

[azlakes]

Re: Looking to buy first boat, need advice.

Thanks guys. I am hitting up the Dallas Boat Show here in a couple weeks, so I am excited to learn a lot there as well. Maybe I'll find a good deal there too, never know!

... boat shows are excellent. you'll see a lot. if you find a dealer that has boats you really like, ask them if they have any 07 inventory or close out models. those can be some of your best deals if you decide to go newer.

have fun

 

[glocklt4]

Re: Looking to buy first boat, need advice.

... boat shows are excellent. you'll see a lot. if you find a dealer that has boats you really like, ask them if they have any 07 inventory or close out models. those can be some of your best deals if you decide to go newer.

have fun

Good idea on the older inventory of new boats, thanks!