Should You Buy A New or Used Boat?

The freedom to explore Australia aboard your very own boat is a timeless dream, but the decision to buy is one that demands lots of research.

For most, that research starts with working out what suits your needs – and budget.

But, is it better to buy new or used?

Honestly, there are pros and cons to both – beyond the sticker price.

Why Buy New?

Fewer worries

Ostensibly, no history means no hiccups.

When you buy new from a dealer, your dream boat’s unlikely to be harbouring secrets, meaning no sleepless nights wondering whether you’ve landed a lemon.

It saves some legwork, too – you can avoid the time and cost associated with surveyors; as well as trying to uncover whether storage, commissioning, or accidents are an issue.

Plus, not only are you getting a boat free from wear and tear, buying the latest model often means a more fuel-efficient, economical craft that’s easier to maintain – so you spend more time on the ocean; and less in hot water.

Read Our Complete 9 Step Boat Buying Guide

Watertight warranties

While problems are already less likely when you buy new, if something does go wrong, your boat will have a manufacturer’s warranty to rely on, which is quite a big draw.

Better yet, with the exceptional build quality of modern vessels, more manufacturers are confident providing long warranties that cover every component of your boat, with some guaranteed for the lifetime of your ownership!

With repair or replacement sorted, running costs come down and joy goes up – just remember that your warranty is usually served by your dealer, so choose local.

Finance a new or used boat through Credit One – The boat finance specialists.

Your boat, your way

When you buy new, you’re buying a blank canvas. As the first owner, you get to make a new boat truly your own.

From tech specs like size, configuration and hull construction, to aesthetic choices like interior materials, colour palette and decor, you can opt for exactly what you want.

Plus, you can choose factory-fitted options including new technology and innovative solutions to further customize your boat.

Related Article: 12 Questions To Ask Before Buying Your Boat

Why Buy Used?

More boat for your buck

Buying used is great because not only is the initial cost lower, but the savings go beyond day one.

Buying used, you’ll also avoid the hit that comes with the first few years of depreciation.

Considering a two-year-old vessel could be up to 20% cheaper than a new one, that’s a pretty attractive drawcard!

Happily, boat model cycles are long – five to six years – meaning you could be speeding around in the same used model that someone else just bought new.

Finally, you can save more depending on how you buy.

Motivated private sellers will be more affordable than brokers, who themselves will cost less than dealers, meaning shopping used can save you a bundle.

Browse new and used boats for sale on Trade A Boat

The test of time

A great used boat plus a thumbs up from your marine surveyor equals peace of mind because many potential problems (especially with the motor) will have already surfaced and been dealt with by now – possibly under warranty.

With the technology tried, tested and fine-tuned, buying used can give you confidence your boat will run smoothly when you’re out on the waves.

Plus, it might sound strange, but knowing you won’t be the first to ding your new-to-you pride and joy means you can relax and enjoy.

All the kit

Buy used, and you’re more likely to score a boat that has everything you need included, courtesy of the first owner.

Many second-hand boats will come with navigation and essential safety equipment; such as flags, flares and life-jackets – adding even more savings to the overall deal!

Be sure to check with the seller what gear’s included.

Buying new or used is up to you, as both options have benefits and downsides.

Buy what suits your plans, pocket and passengers, do your homework and treat boat buying as a lifestyle investment.

Save or splurge, you’ll soon be looking forward to the weekends like never before!

Related Reading

Guide to Boat Storage

The True Cost of Owning A Boat in 2021

When Is The Best Time to Buy A Boat?

If you’re looking to upgrade your caravan, camper, boat or 4WD, get a 30 second quick quote on finance with CreditOne – Australia’s best rated finance broker.


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