Buying a used boat will likely save you a significant amount of money and is a sensible choice to make. Furthermore, this will prevent taking the initial depreciation hit from buying a new boat. However, before buying a used boat, keep these simple tips in mind and protect your new investment with a New Jersey Boat Insurance.
Research the builder.
Determine the quality of the boats that particular builder makes. If they are still in business and have a good reputation, chances are it will be a good buy. In addition, it will be difficult to find replacement parts when necessary if the brand is no longer in business, so it’s important to do your homework.
Why is the boat being sold?
If the boat owner is in financial distress, it might indicate the boat wasn’t well taken care of. However, if the owner wishes to upgrade and buy a larger boat, is implies he or she is passionate about boats and took great care of the vessel. Make sure the boat is in great condition before buying and don’t be afraid to have an inspector come out before signing on the dotted line.
Ask for the maintenance log.
This should list all services, repairs, oil changes, etc. with dates and costs. Many owners keep excellent records which is very reassuring to a potential buyer and be wary of boats with sketchy or non-existent maintenance logs, says Whiteaker Yacht Sales.
How often was the boat used?
It’s best for boats to be used on a regular basis to reduce complications. Make sure the boat’s engine is in good working order and has had regular use.
At Tri-State Insurance Agency, we offer a variety of products to safeguard your valuable assets. To learn more about our services, contact us today at (888) 990-0526.