Can you believe that around 100 million people go boating each year in America?
We can all agree that there’s no better feeling than the refreshing spray hitting your sun-soaked skin and the wind whipping through your hair. If you’re passionate about boating, then it may make more sense to buy your own boat instead of continuing to pay premium renting rates.
One of the biggest questions that buyers need to ask themselves is if they’d prefer new or used vessels. Keep reading so you can learn about the top pros and cons of buying a used yacht so you can make the smartest decision.
Pro 1: A Used Yacht Costs Less
One of the best benefits of buying a used boat is that you can find a beautiful vessel for a bargain. When you do lots of research to find a suitable yacht, you can feel great about getting the best value for your investment.
If you’re on the fence about new or used yachts, you can check out reliable sellers that offer both new and used galati yachts to learn more about the options.
Con 1: Pre-Owned Yachts Could Require More Repairs
Whether you’re buying a boat, a car, a television, or any other big-ticket item, there are always some risks associated with pre-owned things. Some shady businesses or individuals could sell you something despite knowing that there are big problems.
This is why you need to ensure that the seller is reliable. Do some research on common signs of yacht damage so you can inspect the vessel yourself and avoid pouring tons of money into repairs.
Pro 2: You Don’t Need to Worry About Depreciation
It’s discouraging to know that the second you sign papers to buy a new boat it’s already worth less than the original price. As a general rule of thumb, boats tend to lose up to 15% of their value within a year and up to 30% by the fifth year.
When you buy a used boat, you can avoid the sharp decline within the first few years of having a boat.
Con 2: A New Yacht Could Have a Longer Lifespan
New yachts come with a clean slate, which means that you can keep them running as long as possible with proper maintenance. It’s difficult to know how well the previous owner took care of their yacht before selling it to you.
This is another risk that you can reduce with thorough research and proper maintenance.
Pro 3: Insurance Will Cost Less
Since used yachts aren’t as expensive, this means that they’re also cheaper to insure. Having full coverage can give you peace of mind whenever you’re out on the water.
The last thing you’d want to do is underinsure a new yacht because the cost is too high.
Owning a Yacht Can Work Wonders for Your Lifestyle
There are many pros and cons of buying a used yacht. After reading this guide, you can make the best decision for your unique needs.
Want other tips to become a smarter shopper? Check out our blog articles.