Buying a used boat can be a stressful undertaking. BoatUS Consumer Affairs created this helpful list of do’s and don’ts to help prevent some common boat buying errors.
1. Never buy a boat sight unseen. Yes, people do it all the time. Go and see the boat in person and inspect it from bow to stern and then take a test ride. If you absolutely can’t get there yourself, find a friend or hire someone who can.
2. There is no such thing as a free boat. If the owner is literally giving their boat away for free, there is a reason. It’s up to you to find out why and be smart about calculating the true cost of bringing that “Free” boat back to seaworthy condition. Consider costs of survey, towing, shipping, storage, repairs and slip fees before you take ownership. It may be cheaper in the long run to buy a boat that is in good working condition.
3. Hire a competent marine surveyor. Even if you’re not required to have a survey for insurance or financing, hire your own surveyor to ensure he or she is working on your behalf. Have a separate engine inspection to include a compression check, if appropriate, and oil analysis. The engine is the most frequent problem with a used boat, and engines are usually the most expensive component, often making up half or more of its value. A survey is cheaper than a replacement engine. A survey and sea trial costs about $15-$20 per foot.
4. Check for open recalls or problems. Email ConsumerAffairs@BoatUS.com to request a search of the BoatUS Consumer Affairs Consumer Database to see if the boat or engine you’re looking to buy shows up as having a pattern of problems or is the subject of a service bulletin or recall. Finally, check the U.S. Coast Guard website for recalls.
5. Photograph the boat’s HIN. Find the Hull Identification Number (HIN) on the upper part of the starboard side of the transom and make sure it matches both the registration and title. If it doesn’t match exactly, at the very least there could be issues retitling the boat. The boat’s title will list any liens on the vessel, such as a bank loan that will need to be paid off in order to transfer the title.
6. Protect yourself with a contract. Most private-party sellers sell their boat in \”as-is\” condition. As-is sales offer virtually no recourse against the seller should a problem arise, so having a survey, engine inspection and sea trial is even more important. A purchase agreement is your final protection. It spells out the details of the sale, including contingencies (such as an unacceptable survey or sea trial, or inability to obtain financing and/or insurance) that allow you to renegotiate or even back out of the deal completely. Generally, there’s no legal obligation on the seller’s part to volunteer information for which the buyer doesn’t ask. Consider adding a line in your purchase contract that asks the seller to state if he or she is aware of any serious defect, prior accident, or sinking in which the boat may have been involved.
Don’t forget to note the boat’s 12-digit HIN and engine serial numbers on all forms. You’ll also want to include, in writing, all equipment (along with serial numbers) that is part of the deal, or any repairs to be made by the seller. For more on buying your next boat go to https://www.boatus.com/products-and-services/membership/consumer-affairs
