Our first boat was about 23 years old when we purchased it. We paid $5600 and put $3000 into it throughout ownnership. We just put it out to auction and sold it for $6800. We had planned on a new boat but at $80000, we couldn’t justify it. We found a very nice 2006 SeaRay for $18000 and it’s in excellent shape. We figured that we could maintain it and even take on a major repair and still be ahead. This episode was good advice.
I have a 30 year old Larson All American 17’ I bought last year, and this fit the tips I learned from here, since it was a boat that was used a lot. 4.3 v6 with an old Volvo penta DP out drive. I probably have about 20 hours on it this year and it is awesome. After adding a better radio, speakers and a depth finder, I’m in it for about $4300. Runs and drives great.
I agree with everything you said. I’m on my second new boat and I’ve had a bunch of used boats, including my dads boats…………..new is better ! Buy what you can afford new. 👍
Boat, new or old, is never a good investment. Look at the money you spend on a boat like money you spend on expensive vacations you always wanted. You never get the money back of course, but you paid for the experience you wanted.
I've been boating for decades, owned 5 boats, all were used and I can tell you there is nothing more disappointing than sitting at the boat launch on a nice summer day and that used out of warranty boat will not work, never seen it happen with the a new boat. If you are going to keep the boat for a few years always go with a new one.
The used trawlers we’re looking at are $20,000-$50,000. A new one in the same models as our short-list are upwards of half a million. Spending 10x the money will never be worth it to me, and frankly, I enjoy quirky old boats, and if the cabinets don’t give my wife the fizz, I can swap them out. Don’t like the fold-out couch the factory installed? Go down to the furniture store and get the best one you can find, it’ll STILL be cheaper than the trash they put in new boats. People who buy brand new boats have “SUCKER” written on their foreheads. We were at the antique boat show on Lake George back in August, and there were GORGEOUS powerboats that were 100 years old, still being used and in fantastic condition.
I realize the audience for this video is likely the fiberglass sport boat crowd, however, living in the PNW hand built welded aluminum fishing boats are the top selling boats in the region because of there versatility, and appeal to sportsmen. In contrast to your comments on depreciation (2:15) you may find it interesting that they not only don't depreciate, they appreciate significantly especially if you purchase from a premium manufacturer. It's not uncommon for a seller to be asking what they paid for it 10 years ago and sellers are getting what they paid for it because new ones have climbed 20-30% in price in the last 2 years alone and are 6 months to a year out in production. I purchased my boat in 2019 and could easily get $15-$20K more for it now, than what I paid for it and it would sell today. Yes, $60-$90K is a lot for a non commercial use fishing boat, but somehow when I see so much attention to detail and a mile of hand laid welds it just seems like I can see what the money went into compared to a boat that comes out of a mold. Its turned into one of my best investments ever, even compared to Wall Street where my investments returns are less than impressive. I don't have anything against Fiberglass boats, they make a few good ones here too, but are there any that appreciate as wildly as hand built aluminum boats do? You know we live in fictitious times when boats are appreciating.
My first boat is a hand me down (grand father to father to me) it still floats and runs and gets used. I just got my second boat which is bigger but still use the small boat for training and for areas where a larger boat is not feasible, however after seeing the work I will probably buy new for my next boat to give myself less headache and more enjoyment by not having as much initial maintenance.
New boats are not worth the money. However, used boats sales are always a 50/50 gamble. I have owned both and believe that buying used is the best option. Pay to have it inspected prior to buying, if the seller objects, walk away, the seller is hiding something.
I think that comment about boat owners buying used and then new and continuing to buy new is more of a statement about the financials of boat owners more then it is about them preferring new over used. Boat owners tend to be more financially secure so they probably bought used to see if they like boating, if they find they like it they have the means necessary to buy new so they do at that point and there’s no reason to buy used after they determine they like boating. I bought my first boat new, now after owning it I’d be perfectly happy buying a 2-3 year old boat or new again. Either or is fine with me. I liked the part of picking out the colors and such of buying new but I had first year issues that needed to be fixed that I may not have had with a 2 year old boat. I also added close to $7k worth of stuff to the boat that I’d likely get as free upgrades on a 2 year old boat. Personally I’d say the ownership of a new boat has been very low troubles however I have a few friends that have the same brand boat and they had issue after issue in the first year and troubles with the dealer getting those issues fixed. I’d say a 5 year old boat and new boat will be very similar in quality. A big thing though is look at how the boat was cared for. A neglected salt water ran boat can deteriorate very fast in 5 years. A well cared for one will run like new still. A fresh water boat probably won’t have much issue other then cosmetic issues. Like not being clean or stains on the fabrics and gel coat. Things that a good detailed can fix.
Couple key points seem to be missed in your video with regards to some of the new boats hitting the market and the sale of some new/used boat models. 1) You are at the mercy of the manufacturer to produce quality electronics on mass. Unfortunately all new boats seem to be going the way of intense electronic integration. I have seen first hand a few new wake boats come through the shop with a faulty touch screen (WHICH THE BOAT WILL NOT OPERATE WITHOUT) only to be told a warranty replacement is 4 months out. So the owners had to sit and make payments on a boat that wasn't usable for the whole 2021 season! I cant for the life of me understand why boats need such heavy reliance on electronics, nor why the customer base would be happy with them when they do. 2) Purchasers of new or used wake surf boats should be aware of new legislation coming down the pipe regarding wake surf boats used on shallow rivers and lakes or smaller congested bodies of water. If you're thinking of purchasing a new or used wake surf boat, make sure you have the ability to use it on a deep lake and a large body of water. If your only option is a shallow body of water or one with lots of other users, you may find yourself forced to sell that boat again soon as it will no longer be legal to operate where you once could. I really enjoy your videos. Please keep the information coming!
Our first boat was about 23 years old when we purchased it. We paid $5600 and put $3000 into it throughout ownnership. We just put it out to auction and sold it for $6800. We had planned on a new boat but at $80000, we couldn’t justify it. We found a very nice 2006 SeaRay for $18000 and it’s in excellent shape. We figured that we could maintain it and even take on a major repair and still be ahead. This episode was good advice.
I've had 3 boats in 30 years. All were 5-8 years old when purchased. I can't justify $80K plus on a toy.
I have a 30 year old Larson All American 17’
I bought last year, and this fit the tips I learned from here, since it was a boat that was used a lot. 4.3 v6 with an old Volvo penta DP out drive. I probably have about 20 hours on it this year and it is awesome. After adding a better radio, speakers and a depth finder, I’m in it for about $4300. Runs and drives great.
I agree with everything you said. I’m on my second new boat and I’ve had a bunch of used boats, including my dads boats…………..new is better ! Buy what you can afford new. 👍
I love how people talk about warranty etc. What you'll pay in interest on a new bass boat you could buy a new motor easily
Boat, new or old, is never a good investment. Look at the money you spend on a boat like money you spend on expensive vacations you always wanted. You never get the money back of course, but you paid for the experience you wanted.
Either way make sure it’s the right boat for all your needs !
I've been boating for decades, owned 5 boats, all were used and I can tell you there is nothing more disappointing than sitting at the boat launch on a nice summer day and that used out of warranty boat will not work, never seen it happen with the a new boat. If you are going to keep the boat for a few years always go with a new one.
The used trawlers we’re looking at are $20,000-$50,000. A new one in the same models as our short-list are upwards of half a million. Spending 10x the money will never be worth it to me, and frankly, I enjoy quirky old boats, and if the cabinets don’t give my wife the fizz, I can swap them out. Don’t like the fold-out couch the factory installed? Go down to the furniture store and get the best one you can find, it’ll STILL be cheaper than the trash they put in new boats. People who buy brand new boats have “SUCKER” written on their foreheads. We were at the antique boat show on Lake George back in August, and there were GORGEOUS powerboats that were 100 years old, still being used and in fantastic condition.
I realize the audience for this video is likely the fiberglass sport boat crowd, however, living in the PNW hand built welded aluminum fishing boats are the top selling boats in the region because of there versatility, and appeal to sportsmen. In contrast to your comments on depreciation (2:15) you may find it interesting that they not only don't depreciate, they appreciate significantly especially if you purchase from a premium manufacturer. It's not uncommon for a seller to be asking what they paid for it 10 years ago and sellers are getting what they paid for it because new ones have climbed 20-30% in price in the last 2 years alone and are 6 months to a year out in production.
I purchased my boat in 2019 and could easily get $15-$20K more for it now, than what I paid for it and it would sell today. Yes, $60-$90K is a lot for a non commercial use fishing boat, but somehow when I see so much attention to detail and a mile of hand laid welds it just seems like I can see what the money went into compared to a boat that comes out of a mold. Its turned into one of my best investments ever, even compared to Wall Street where my investments returns are less than impressive. I don't have anything against Fiberglass boats, they make a few good ones here too, but are there any that appreciate as wildly as hand built aluminum boats do? You know we live in fictitious times when boats are appreciating.
Handmade boats are always made to a higher standard than production boats.
My first boat is a hand me down (grand father to father to me) it still floats and runs and gets used. I just got my second boat which is bigger but still use the small boat for training and for areas where a larger boat is not feasible, however after seeing the work I will probably buy new for my next boat to give myself less headache and more enjoyment by not having as much initial maintenance.
New boats are not worth the money. However, used boats sales are always a 50/50 gamble. I have owned both and believe that buying used is the best option. Pay to have it inspected prior to buying, if the seller objects, walk away, the seller is hiding something.
I think that comment about boat owners buying used and then new and continuing to buy new is more of a statement about the financials of boat owners more then it is about them preferring new over used. Boat owners tend to be more financially secure so they probably bought used to see if they like boating, if they find they like it they have the means necessary to buy new so they do at that point and there’s no reason to buy used after they determine they like boating.
I bought my first boat new, now after owning it I’d be perfectly happy buying a 2-3 year old boat or new again. Either or is fine with me. I liked the part of picking out the colors and such of buying new but I had first year issues that needed to be fixed that I may not have had with a 2 year old boat. I also added close to $7k worth of stuff to the boat that I’d likely get as free upgrades on a 2 year old boat. Personally I’d say the ownership of a new boat has been very low troubles however I have a few friends that have the same brand boat and they had issue after issue in the first year and troubles with the dealer getting those issues fixed. I’d say a 5 year old boat and new boat will be very similar in quality. A big thing though is look at how the boat was cared for. A neglected salt water ran boat can deteriorate very fast in 5 years. A well cared for one will run like new still. A fresh water boat probably won’t have much issue other then cosmetic issues. Like not being clean or stains on the fabrics and gel coat. Things that a good detailed can fix.
A very thoughtful reply to help our viewers. Thank you!!
Couple key points seem to be missed in your video with regards to some of the new boats hitting the market and the sale of some new/used boat models.
1) You are at the mercy of the manufacturer to produce quality electronics on mass. Unfortunately all new boats seem to be going the way of intense electronic integration. I have seen first hand a few new wake boats come through the shop with a faulty touch screen (WHICH THE BOAT WILL NOT OPERATE WITHOUT) only to be told a warranty replacement is 4 months out. So the owners had to sit and make payments on a boat that wasn't usable for the whole 2021 season! I cant for the life of me understand why boats need such heavy reliance on electronics, nor why the customer base would be happy with them when they do.
2) Purchasers of new or used wake surf boats should be aware of new legislation coming down the pipe regarding wake surf boats used on shallow rivers and lakes or smaller congested bodies of water. If you're thinking of purchasing a new or used wake surf boat, make sure you have the ability to use it on a deep lake and a large body of water. If your only option is a shallow body of water or one with lots of other users, you may find yourself forced to sell that boat again soon as it will no longer be legal to operate where you once could.
I really enjoy your videos. Please keep the information coming!
They should make an override feature if electronics fail. Those are definitely some good points.
Not true for aluminum, bought a new weldcraft in 2020 for 69, its now listed at 89
I smell the gas from outboard. How to prevent it?
Light a match.
Buy a pre Covid boat
Used boat definitely
Do not buy new.
Just about anyone can be talking in to selling a boat. Ask around, feel people out that you know have taken good care of their boats.