Is it a Good Time to Buy a Boat?
As the summer season is coming to a close and winter is right round the corner, boat owners and dealers find that they have to winch their vessels out of the water, pay for their docking in the marina, pay their licenses, pay for maintenance and pay insurance for the upcoming winter season.
Due to all these substantial costs, it’s more advantageous for the dealers and owners to sell their boats off just at the end of boating season, which happens to also work in the favour of those seeking to buy a boat at a competitive price.The following points serve as helpful tips for those who are on the search for a boat in these times, but aren’t sure what to look for.
Know the dealership
There are many dealerships to pick and choose from when it comes to buying a boat, and it can prove challenging to discern which one is the right one for you.
The obvious recourse is to do thorough research about the dealerships on the internet, and indeed this is an important part in the research process. However, research should also be done ‘in the field’ or, in other words, at a boat show.
Boat shows are an invaluable way of meeting dealers and comparing boats at leisure. Dealers will welcome any queries you might have, and the event itself presents the opportunity to ask around about dealerships you’re interested in.
Know the deal
Once the dealership has been chosen, the next step involves arranging a deal which satisfies both parties.
Given that dealers at the end of boating season are eager to sell, they might offer extreme discounts on the hull of the boat. This can be a tactic employed by the dealer to distract the buyer from other costs - like the anchor or engine - which make the overall price of the boat exorbitant, no matter the discount on the hull.
In order to avoid this, it’s best to approach the dealer with a full list of what you intend to purchase, and to get a deal on the entirety of components combined rather than only on one main part. In this way you ensure that there are no hidden costs that will greatly affect the bill.
Request a boat survey
It doesn’t matter whether the boat you intend on purchasing is used or brand new, it’s always advised that you get a boat survey for your vessel in order to ensure the state and condition it’s in.
The best way to get a boat survey is to ask your dealer to include it in the deal itself. This way, a professional third party can examine the boat and give you a full account of the boat’s condition. If you find that not everything is to your satisfaction, you can negotiate with your dealer to either fix what is wrong with the boat, or to lower the price of the initial deal.
Whatever the case may be, a boat survey should put your mind at ease that your purchase will not lead to unwanted surprises further down the line.
Now is the best time to buy a boat
By keeping these primary tips in mind, as well as carrying out personal research regarding the boat you want, buying a boat does not need to be a stressful financial burden. Instead, it can be an exciting hunt for that perfect vessel you’ve always dreamed of.
With this information in mind, and given that boating season has just come to an end in Malta, now is the best time to buy a boat and take the first step towards the relaxing nautical lifestyle you want.