Articles Consumer Spending

Top Tips For Buying A Boat Without Spending A Fortune


Let’s get one thing out of the way quickly: you don’t have to be wealthy to buy a boat. It’s a long-held belief that stops many people from fulfilling their dreams of taking to the seas on a glorious summer’s day.

Of course, if you are planning on buying a fifty-foot yacht, it’s going to set you back a few million dollars. But, it doesn’t have to cost you double your life’s savings. In today’s brief guide, we’re going to go through some of the ways you can buy a boat without spending a fortune.

Go small

The vast majority of boats on US waters are less than 26 feet long – and the bigger your ship, the more it will cost. Not just in the purchase price, either. Fuel costs will be enormous to power a large boat, and even things like moorage fees will cost you more per foot. So, the smaller the ship, the cheaper it will be to run and look after it.

Buy used

Just like cars, boats decrease in value from the moment they leave the shop floor. In fact, they depreciate even quicker – and steeper. It makes no sense whatsoever for anyone who is careful with their money to buy a brand new boat. Always look towards used boat sellers – you might be surprised by how many bargains there are out there.

Fix her up

Another way to save big when buying a boat is to buy one and fix it up. It’s worth getting any potential boat checked by a professional first, of course. Some boats are just too damaged to be worthwhile spending money on. But, there are bargains to be had and plenty of spare parts sellers such as RPM Diesel, who you could use to fix things up a little.

Look after her

A lot of the costs of boating are to do with fixing the damage, so make sure you care for your new pride and joy. Take the boat out of the water if you aren’t using it for long periods of time, and learn how to make repairs yourself. There are plenty of sail repair guides out there, for example. As long as you are prepared to put in some hard work, there are plenty of ways to save when it comes to boating.

Find a friend

Most people with boats don’t use them all the time, so in many cases, it makes sense to share them. Ask around your family and friends and see if anyone is interested. You can slash the personal costs of boat ownership in half with a single agreement. And, you could even go for multiple owners to cut back the costs even more. It makes perfect sense, and as long as you arrange your calendars well, no one will have an issue.

Get a diving qualification

Divers are always needed, so think about investing in a qualification. You could hire yourself out and end up diving to inspect moorings, change underwater equipment or even just give a hull a scrub. And, of course, you will save a lot of money on spending on these things for your boat. Sure, the course costs can be expensive, but a single job will pay back what you spend. After that, it will more than pay for your boating hobby.

Let us know if you have any more tips!