If you are planning to buy a boat then there are many things you must consider before actually buying a boat. First of all, you must understand your needs. You have to decide which type of boat suits you the best. The type of water you will be boating on and the climate are other important considerations. Small, sheltered bodies of water don't require a boat with as much freeboard and dead rise as those used on larger bodies of water where you will encounter bigger waves and rougher conditions.
In a colder climate, the boating season is relatively short. To prolong it you may want a boat that offers more protection from the elements. In warmer climates an open boat with a Bimini top for shade may be the better choice. Once you have decided which is the best then comes the next part, should you go for a Used Boat or New Boat. Used boats can be much cheaper and may come with many accessories, but there may be some extra expenses to be done for minor repairs and upgrades.
As you can use your bargaining skill to the most. It is always good to do a background check of your favorite boat in advance, through your friends, internet researching, Manufactures website etc. If you have decided to opt for a used boat then it is better to call the Coast Guard and ask for information about manufacturers' recalls for that particular model. If a recall has been issued, ask the owner if the repair has been performed. If not, find out if the period of recall is still in effect. One important tip is to check the seller's proof of ownership. If the price is a "steal," the boat may very well be stolen.
Things to consider before buying a boat:
1. Check the necessary documents, and if they can't be produced.
2. You can also inspect the boat and it's Engine for the following:
3. Oil Leaks
4. Are there signs of lubricant leakage around gaskets, freeze plugs and hoses?
5. Are the hoses, belts and fittings cracked or brittle?
6. Pull a spark plug and see if it appears relatively new, or burnt and poorly gapped. (This will provide an indication of how well serviced the engine is.)
7. Is there a white chalky residue on the engine or drive? (This may indicate that it has been running hot.)
8. Check the engine's oil condition and level. (If the oil looks milky, water may have entered, indicating the possibility of serious mechanical problems.)
9. Check gear case oil.
10. Are the sacrificial anodes on the drive in good shape, or should they have been replaced long ago?
11. Are there signs that the drive, rudder or propellers have hit submerged items?
12. Look for signs of cavitations damage on the propellers, which is indicative of poor performance.
13. Check for broken engine mounts.
14. Compression checks the engine
If you want to have your own small pleasure boat or even a larger yacht there are many loan companies that provide specialist boat loans to help make your dream a reality. There are a number of types of boat loans but the majority will use the boat as collateral, similar to a home loan or mortgage.There are two types of boat loans, secured and unsecured boat loans. A secured boat loan is secured against collateral a home or the boat itself. This loan is available at a low interest rate with flexible repayment options. Unsecured boat loan is not secured against any collateral.
As with car insurance, policies come with an excess to discourage small claims for boat insurance, this is usually quite a large sum of money, as the intention of the insurance is to cover you against substantial losses instead of just scratches and dents. When buying online boat insurance one should get proper coverage for man-made catastrophes, burglaries, or natural disasters. By taking advantage of certain offers, one should be able to obtain a discount on online boat insurance rates. Premiums depend on the size of the boat, its horsepower and navigational range, and the experience of operator.