Want a great deal on a boat? You have come to the right place for "tips on buying used boats" for less then they are worth and far below retail prices. I have always been fascinated with boats of all sizes. I am sure it has something to do with my love of water, but either way, Since I could never really afford one, I had to get creative when purchasing. I would like to share a few ideas with you about how to buy a used boat for as little money as possible, and circumvent the need for financing at the same time. Below are a few tips I use for finding a good deal on a used boat, and they should work even better now then they did in the past!
Find Good Deals At Your Local Marina
This can be a gold mine for buying a used boat for a great price, especially if you live in a larger city with plenty of marinas to scour through. Even so, as long as your town or city has a marina, you may be able to get a great deal on a used boat there. One thing all marinas have in common is they charge for you to moor your boat. In a poor economy like this, some owners either cannot afford the payments any longer, or have just lost interest in the boat. This is an opportunity for you to snap it up.
One thing a marina can do to protect itself from non paying boat owners is to file against the owner and get a judgment. In most cases the owner would rather just sign over the vessel instead of having a lean filed against them. Standard practice is for the marina to now sell the boat to recover what is past due in moorage fees. Sometimes this may only be a handful of months. If the boat is decent, chances are you are getting a fantastic deal. Heck, you may even be able to afford gas for it!
The easiest way to find a cheap used boat this way is talking to those who are living at the marina on their boats. These are generally pretty tight little communities so try and make friends with them if at all possible. Give them your number so if they happen to hear about the marina repossessing a boat, or putting one up for sale, you will get a phone call and be in a good position for negotiating before the public finds out.
Bank Repo Boats
This is one many people who are looking for a good deal have already heard about Besides just checking with local boat brokers and looking in the boat trader and newspaper to find repos. you will want to talk to banks directly. They will usually have a whole department set up for just this one area. Ask you is in charge to find out what assets they may have for sale. Don't forget about the small banks or lending institutions either. One of the best bargains I ever got was from a small scale lender who had to get the asset of of their books and was willing to lower the price quite a bit to get it done.
This is why I said it may be possible to buy a used boat or bank owned boat without financing. It is possible to get the price down far enough where cash is a real option. If you don't have quite enough cash to buy the boat out-right, ask the banker what types of financial arrangements he / she is willing to make? It may even be possible to secure the balance against some other personal property you own. Maybe not, but who knows? It is worth a try if the bargain is good enough
Buy Salvage Yard Dry Dock Boats For Cheap Prices
The boat yards are many times the final resting place for boats who have seen better days. They are also used by owners who are not planning on using the boat often and want to save money on storage. No matter what the reason is, this is one of the easiest ways to buy a used boat for little to nothing. Now you have to be very careful when buying a boat this way. Without it being in the water, there is no way for you to tell if it even floats. As with any boat purchase, it is always recommended to get a survey and a sea trial, before making a final offer.
When I was younger, I used to visit these yards on a very regular basis. You would be surprised how many people are out there working on their project boats while full-filling a life long dream as a boat owner. These are the first people you want to talk to. Just as with the live aboard folks at the marina, these folks will tend to know what is happening within the yard. You can get advice and possibly even a little insight on what is being asked for any boats that are for sale
Once you are armed with all of the information you have gathered, go to the yard office and speak to whoever is in charge. Heck, I have seen people make deals right there in the boat yard. I have actually done one myself. I bought a 79 Ranger sailboat for $300.00 cash on the spot. It came with three sets of sails and just needed a little clean -up. Well, there you have it!
Thanks for stopping by and reading about how to buy a used boat and get a great deal.
