2021 Boat Buyers Guide

Buying Boats in 2021

Purchasing a boat of your own is a gateway to maximum fun and enjoyment. However, in the face of multiple options, the boat buying process may seem complicated. Also, a significant financial investments will go into the purchase of the boat. As such, a lot of thought and attention should go into choosing your boat.

We do know that you don’t compromise on your comfort and enjoyment. Thus, we have prepared this guide to help you navigate the confusing task of selecting the right boat for you in 2021. So, read on!

Type of Boat

The first factor you have to put into consideration is what purpose you want the boat to serve. Just like with road vehicles, all boats are not the same. In fact, there are numerous types of boats – pontoon, bowriders, cuddy cabins, deck boats, cruisers, and much more.

Thus, you have to answer the question, “Which type of boat would I like to purchase?”

The answer to this will depend on your tastes and preferences. Are you the type that likes water sports? Then gunboats may be the best for you. If you prefer to fish while on the water, then go for a fishing boat. The choice of the type of boat may, to some extent, determine the insurance, registration, and even financing for the boat.

Used vs New

The debate of whether to go for a new or used boat never ends. To decide this, you have to take a look at your budget. This is because the choice of either a used or new boat will also affect the cost of the insurance premium on the boat. Furthermore, it will affect the maintenance fees, the registration process and fees and other costs that you will encounter going forward.

If you go for a used boat, ensure you take a careful look at its parts and engines, the maintenance history and overall condition.

Financing Options

There are several options through which you can finance the purchase of your boat. The most obvious is to put down the cost yourself. However, this can be quite expensive, especially if it is a new boat. The other alternative is for you to take up a boat loan.

Generally, boat loans have longer maturity periods than car loans. There are boat loans that take up to 15 years to mature. The result of this is that you get much lower repayment costs every month.

Legal and Government Issues

Like with road transportation, in water transport, you still have to deal with some form of legal and government issues from time to time.

For instance, you have to make sure that you register your boat, and you have to renew that registration every other year.

Furthermore, some types of boats attract taxes, which you have to remit to the state regularly. Then there is insurance to secure and pay for. This will largely depend on the cost and age of your vessel.

Fuel Usage

Which type of fuel will you like your boat to be powered on? The most popular option is gas. However, there are now electric boats.