The dilemma sounds familiar. Is it better to buy a new boat or a used boat? While there is no single “right” answer that works for every boat buyer, certain factors may drive your final decision.

As with automobile purchases, some owners demand that new boat “smell,” comfortable in the knowledge that no one else has ever driven their new purchase before. Other boat buyers elect to avoid the initial value depreciation and may even acquire a well-maintained used boat for less that may also have a few more accessories.

If you are not sure which is the better option for you, here are some thoughts to consider while making your choice.

Why I Questioned Beneteau

Having spent the first 30-plus years of my professional career building semi-custom, high-quality, sail and power boats, I like to think I know a thing or two about marine manufacturing and what it takes to build a good boat. Many of us in the business around New England were pretty proud of our efforts and questioned the quality and reliability of the much less expensive production-built boats. So, when the opportunity arose to leave the manufacturing world and join the Cape Yachts team in 2008, I have to admit, I had my nose in the air about representing Groupe Beneteau. After all, how could a boat that cost so much less than boats I built be any good – right?

Believe it or Not, a New Boat Might be Cheaper!

You are thinking of buying a boat and believe that buying a used boat will be less expensive than buying a new boat of the same type. This can be true, but a broader view shows a new boat might actually cost you less.    The way we come to that is to consider the Cost-to-Purchase versus the Cost-to-Own a boat over time. 

So, You want to Buy a boat do you!

Great idea. What kind of boat should you get? That decision requires some soul-searching on your part. You need to ask yourself a lot of questions about what you want to do with a boat. Who will go with you? Where will you be boating – ocean or bay or lakes? How much money will you spend? Understanding in broad brush strokes the different types of boats available and how they answer your questions can save you from making a mistake and save money at the same time.

It’s safe to say I have seen many poorly-staged boats in the brokerage market since starting my yacht sales career in 1996. Our responsibility as listing agents representing a seller, is to advise on best practices and work to get the best offer possible. Below are a few critical areas where sellers can help themselves.