This is a collaborative post.
There are a number of advantages to buying a boat second hand or used. The money you can save is especially attractive to potential buyers. However, if you are buying a used boat, there are some things that you should consider first; as most people who buy used are purchasing for the first time and so this checklist is important for the safety of you and your money.
Also, before deciding about purchasing, you might want to try renting a a boat at first so search for yacht rental Toronto to see what are your options.
The following is a guide that you can you when purchasing a used boat.
Research is Key
Most retailers are obligated to make potential buyers aware of any previous issues or problems with the boat, but doing your own research can be helpful. Resist all temptation and impulses to buy a boat without carrying out the proper checks first. A thorough background check can help you ensure that the boat is reasonably priced for the market and that all the necessary equipment it should have is present and correct.
Once you have found some boats that meet your criteria and your preferred specifications, you should arrange some viewings. Some owners keep their boats at their home, and some keep them at their moorings, whether that be a harbour or a marina. If you are meeting the seller where the boat is docked, ask them to bring along identification that proves that they are the seller.
When viewing the boat, look inside and out to catalogue and areas of rust, scratches, wear and tear or missing equipment—test safety equipment, appliances, and the engine too. Any faults or issues you find can help you to negotiate a price reduction. If you are a novice, make sure that you bring someone with a decent amount of boating knowledge and expertise.
Try Before you Buy
Either as part of the viewing or further along into the process, you should always take the boat out onto the open water and drive it yourself. Being a passenger is not the same as you cant get a good idea of how the boat feels or operates. You can also gauge whether or not the boat is in good working order.
Finding the boat that you want to purchase can be an arduous process, especially for first-time buyers. It can be hard to find reputable sellers, which is why you should consider purchasing through a reputable service. For example, if you were to use TheYachtMarket to find your new boat, you would know you are going through proper channels, and you have more choice. They have both new and used boats for sale from locations across the globe.
Check the Documents
When buying anything substantial such as a car or house, it is simply good practice to ensure that all the documents are there and in order. It isn’t always mandatory to keep a service history for boats. Still, any diligent owner will have a thorough paper trail, such as previous owners or sales and maintenance and bills that detail the boat’s history. It may also be worth checking whether the boat has previously been written off or declared stolen.
Buying a boat is an investment, and it should be treated as such. It should be taken seriously. Make sure you draw up a contract with the seller before making any commitments or any money changes hands. Once you are satisfied and the sale has gone through, welcome to your new life as a proud boat owner!