Looking to buy first boat, need advice.

BULLWARKS

BULLWARKS

Petty Officer 1st Class
Joined
Mar 22, 2005
Messages
257
Re: Looking to buy first boat, need advice.

Don't know about the others but let me know what you think about the Lammy book.

BW
 
Bigprairie1

Bigprairie1

Commander
Joined
Jun 13, 2007
Messages
2,568
Re: Looking to buy first boat, need advice.

I'm with the 'buy quality used' camp. There is such a buyer's market out there right now particularly for the boat you mentioned in your price range. :D
The depreciation in your first month with a new boat would probably pay for that moorage you aren't keen on.
I'd look at 1-3 year old boats and hire someone to survey/test the boat to get a high level of confidence going into it. You shouldn't have to look far to find some mint 50 hr. driveway queens out there.;)
Oh, and I would definitely go for mooring the boat rather than constantly trailering it. I think the easier the boat is to use, the more you are going to use it. If you're boat is at the lake ready to spin the key, its easy to jump in the car (rather than the truck and it's fuel?), whip out there and go for a quick spin. We took this approach and we are getting great, easy usage out of our recent boat and it's really paying for itself.
I do think you're fuel costs are low tho'. If you set yourself up to use the boat...which is why you would want it, then you're probably going to burning a bit more fuel. Another reason for a quality used.;)
My two bits.
BP:cool:
 
danond

danond

Lieutenant Junior Grade
Joined
Jun 11, 2007
Messages
1,118
Re: Looking to buy first boat, need advice.

You'll recognize the deck boats when you're looking around. They're the seriously ugly ones that look like tri-hulls on steroids!

:D
 
G

glocklt4

Cadet
Joined
Jul 8, 2008
Messages
28
Re: Looking to buy first boat, need advice.

Bigprairie1 said:
I'm with the 'buy quality used' camp. There is such a buyer's market out there right now particularly for the boat you mentioned in your price range. :D
The depreciation in your first month with a new boat would probably pay for that moorage you aren't keen on.
I'd look at 1-3 year old boats and hire someone to survey/test the boat to get a high level of confidence going into it. You shouldn't have to look far to find some mint 50 hr. driveway queens out there.;)
Oh, and I would definitely go for mooring the boat rather than constantly trailering it. I think the easier the boat is to use, the more you are going to use it. If you're boat is at the lake ready to spin the key, its easy to jump in the car (rather than the truck and it's fuel?), whip out there and go for a quick spin. We took this approach and we are getting great, easy usage out of our recent boat and it's really paying for itself.
I do think you're fuel costs are low tho'. If you set yourself up to use the boat...which is why you would want it, then you're probably going to burning a bit more fuel. Another reason for a quality used.;)
My two bits.
BP:cool:
Click to expand...


Yeah, I have decided i'm going used like this unless there is a HUGE sale on a new and they offer me financing that I can't get on a used.

Can any of you guys help me figure out what kind of financing you can get on a used boat? I am not worried at all about qualifications, just the type of loans that are offered on used (5,7,10 year... ?)
 
Fu-Inator

Fu-Inator

Petty Officer 3rd Class
Joined
May 15, 2008
Messages
81
Re: Looking to buy first boat, need advice.

Being a new boat owner my self, I went through this same process back in Apr/May time frame. I could type for 20-30 min on my experience (learned a lot) but I will keep it short.

1. Ask around! iBoats is a great start and there is no shortage of people you know that own or used to own a boat. People LOVE to talk about their boats.... lol. Ask lots of questions.

2. Check the registration fees/requirements for your state (especially if you buy used). All states are different, some require title/registration on the trailer, some don't. I had to pay sales tax on my used boat, so half of my "stimulus check" when right back into taxes.:rolleyes:

3. Your tow vehicle is also part of the cost equation. I had to get some minor work done on my vehicle before I could use it to pull a trailer.

glocklt4 said:
Can any of you guys help me figure out what kind of financing you can get on a used boat? I am not worried at all about qualifications, just the type of loans that are offered on used (5,7,10 year... ?)
Click to expand...
Best advice is to shop around, every bank is different. Most banks have different terms based off of the cost of the boat, not just whether it is used or new. The two banks I narrowed it down to had different ways to calculate the loan value. One used 90% of the NADA value and the other used 95% of the purchase price, not to exceed NADA value.

Good luck!:cool:
 
triumphrick

triumphrick

Lieutenant Commander
Joined
Jun 26, 2008
Messages
1,737
Re: Looking to buy first boat, need advice.

Looks as tho you have been given lots of useful advice. Also it seems that you are actually using some of it, buying books, etc. :) Also I usually recommend the boat shows just to get a feel for what's out there. Most salesmen do a good job of promoting their products. Looks as tho' you have that covered as well.
Now, if you shop iboats, Boat Trader and Craigslist.com, you will get a good feel for what some used, nearly new boats can be had for. This process should take a while, however as you want to compare apples to apples. Give it at least a month.
Armed with all that, make sure you have someone knowledgeable, even if you have to pay for a marine surveyor, to go with you.
Your season in the Dallas area will allow you to enjoy your rig almost year round, which is good. Boats don't do well just sitting around! Have fun and good luck. ;)
 
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