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Tips for Buying a Boat

Updated on February 8, 2010

 Buying a boat can be a very exciting process.  There are several factors you should look at before you make your final purchase.   When finding the right boat for your family, you need to figure out what kind of boat you would like, obtain a boat inspection and then seek out boat financing and insurance.

 First you should determine the type of boat that you would like.   In today’s market, there are several different boat designs for water activities such as water skiing, sailing and sea fishing.   The all purpose fishing boat and the bow rider are two of the popular boats available to you.  The all purpose fishing boat is great for boating in rough water and can be used for a variety of fishing activities.   The bow rider is a popular family boat due to the extra seating available to seat up to 10 people.   The bow rider is often using for swimming and skiing activities.

 After you find the right boat, your next step should be to obtain a boat inspection.  The step is very important no matter if the boat you are purchasing is new or used.   The boat inspection should cover all parts of the boat such as the electrical components, fuel tanks, propeller, and boat engine.  The hull of the boat should also be examined for any damages so may sure an out of the water inspection is done.  An independent marine surveyor can be hired by you to perform the inspection.

 Once the inspection is done, you should try to obtain financing and boat insurance.  Just like a car, you are able to finance a boat up to six years.  However, you should shop around to find the right low interest and payments for you.  You can purchase your boat insurance from your local insurance agent.  The cost of the boat and the amount of coverage requested will determine the insurance premium amount.   Insurance agents recommend purchasing an “All Risk” policy that will cover all types of damages.

 By following the steps above, buying a boat should be an easy experience for you.  The best time to purchase a boat is during the winter since boat dealers will be offering discounted deals to clear out the old inventory for new boat models in the spring.   Just remember to take your time until you feel comfortable with your purchase.


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