New Boat vs Pre-Owned

[Poppa]

Wanted to get some pros and cons from folks when have purchased somewhat recently. Really interested in financing something new but a lot of people saying prices are too insane right now and should only buy pre owned.

Any thoughts from members here?

[roper1]

I bought used 10 year-old boat in August. Been shopping since March, thought it might not happen this year. My observation is the first few years are big depreciation-wise, then level out quite a bit.
I think we can use our boat steady next couple years to decide if it's for us, keep it if we want, sell at a smaller loss if we don't get enough use.
Couldn't stand the thought of boat payments at -20, not really a finance type guy anyhow. Can't imagine making payments on a toy of any type, recipe for doing without something needed, mebbe. Good luck!

[Ken07AOVette]

When the lot of guys make your payments let them decide for you. Personally I bought used because I wanted to be sure I was doing the right thing, wanted to see if I liked ocean fishing on my own boat as much as I should, and buying a new $200,000.00 striper just wasn't in the cards.
If you can afford it, why not? Warranty is a wonderful thing, you get to break it in how you want, and you have no preowner gremlins.
My buddy bought a 30' kingfisher last year for $320,000 and can sell it this year after 80 days+ fishing for more than he paid.
There are pros and cons both ways, it just depends on how deep your pockets are.
If I was going to do it again, I would have bought new although my boat has been great to me.

[RavYak]

It is the same as buying a car, you get some peace of mind knowing the boat is brand new and that you have some warranty. I believe you can usually get better financing rates too.

Buying used can save you a ton of money if you find a good deal but some guys like to try to get what they paid for the boat(especially jet boats).

Either way we are approaching the best time of the year to buy a boat. Figure out what you want, research the new prices then search up used options and compare the price difference. If new price isn't that much different then try and talk dealer down a bit and go with new, if it is significantly different then buy used. That is what I would do anyways.

[58thecat]

Shop around....lots of pre owned boats that will save you a lot of dollars and fill your needs too.

[SamSteele]

Hey Poppa,

One thing to remember about boat warranties. Many manufacturers advertise their lifetime hull warranties (Princecraft, Lund, Crestliner, etc.) which are great, but they are lifetime to the original owner only. If you are the second owner you get a 10 year prorated warranty from the date of manufacture and the dealer needs to submit paperwork to transfer the warranty to you, usually for a fee. The pro rated warranty means that if the boat is 5 years old, you get 50% coverage. 7 years old, you get 30% coverage.

I know warranty isn’t everything to many people so that info may not matter in your decision process but I thought you should be aware.

Another thing to keep in mind is that many of the older (pre Brunswick) Lund’s has issues with rotting wood in transoms. If you are looking at an older boat keep an eye out for any paint bubbling on the transom (a sign of the issue) and ask the seller about it. In essence the top cap on the transom wasn’t sealed well so water gets in and rots out the wood. The only solution is to rip out all the old wood and replace it, often for significant cost. It can be done, but you should know what you’re getting into first.

SS

ETA: With the wet summer we had it wasn’t a great year for boat sales. Dealer lots are still full of 2018s so there should be some good deals on new to be had.

[AndrewM]

Keep interest in mind when you are purchasing. If you are going to purchase used at 6.5% interest and can get new for cheaper rate you may eat some of your savings away from buying used. With that said, there are lots of used boats in Alberta that get very minimal use.

[Walleyedude]

You'll get a lot more bang for your buck going used. It's not just the boat, motor, and trailer you have to pay for, it's all the other stuff - trolling motors, electronics, anchors, life jackets, ropes, etc..., etc... That all adds up in a real big hurry. Most of the time, you're getting a bunch of that stuff "thrown in" when you buy used, or at the very least, you're buying it at a significant discount to new. The end result is a bigger, better equipped boat for the same money.

That being said, there's something to buying new as well. You know exactly what you're getting, you've got full warranty, there's more financing options, and it's a great experience (or at least it should be). 2019 was one of the worst years ever for fishing boat sales in AB and SK. There are lots of dealers from all the brands with 1 and 2 year old boats still sitting on the lot, and the last thing they want to do is finance them for another winter. If you know what you want, start contacting dealers and negotiate a price, you might be surprised at the deals to be had.

[pinelakeperch]

It's not much different than new vs used cars. There's peace of mind in owning something brand new with a warranty, and finance rates are generally much better when new.

Buying used, you save on depreciation (in most cases), but there's less peace of mind and finance rates are generally poorer. I would imagine that if you bought the boat from a reputable place that there'd be some sort of warranty attached to it, similar to a certified pre-owned car.

[AndrewM]

Always a trade off. Can do a lot of work in warranty if you save $10,000 off the price.

[Dean2]

Originally Posted by Poppa

Wanted to get some pros and cons from folks when have purchased somewhat recently. Really interested in financing something new but a lot of people saying prices are too insane right now and should only buy pre owned.

Any thoughts from members here?

I am running a 19' Warrior Deep V, Dual Console Walleye Tournament boat with a 150 HP and an 8 horse kicker. The boat is in top notch shape and has always been stored in doors. New that boat would be north of $120,000 today. Used mine would go for about $20-$25,000 despite being nearly pristine. You tell me if buying new makes sense, it sure doesn't to me. If you can find one that was well cared for, clean and not all scratched up you can save a ton of money. It isn't hard to tell looking at a boat if it has been cared for or not.

[Walleyedude]

Originally Posted by Dean2

I am running a 19' Warrior Deep V, Dual Console Walleye Tournament boat with a 150 HP and an 8 horse kicker. The boat is in top notch shape and has always been stored in doors. New that boat would be north of $120,000 today. Used mine would go for about $20-$25,000 despite being nearly pristine. You tell me if buying new makes sense, it sure doesn't to me. If you can find one that was well cared for, clean and not all scratched up you can save a ton of money. It isn't hard to tell looking at a boat if it has been cared for or not.

I think you're WAY underestimating what your current boat would sell for, there's big demand for them and not much supply. Check the Walleyecentral classifieds and some of the Facebook pages. Depending on condition, I'm guessing you'd get those numbers, or more, in USD for it. I think you're likely overestimating the new price too.

As for your point though, I completely agree, you're still saving a LOT of cash. It makes a ton of sense to go used if you can find the right boat that's been taken care of at the right price. I sold mine, 4 years old, loaded, like new condition, with under 200 hrs on it and still under warranty for $25-30K less than the cost to replace it new. That $25-30K is a giant leap in how much boat you get when it comes to comparing prices on new boats.

[dutchpirate]

Picked up an amazing used boat from leisureliquidators.com They have a yard at Toefield that they will move a boat to from their Winnipeg yard for free. We got an 1989 Bayliner 1810 Fish 'n Ski with a 1999 120HP Force 2 stroke and trailer for $6500 shipped! (The boat is my profile pic)

[Buckhead]

My last 2 boats have been new and I will explain why.
Let’s say I’m in the market for a new 18 foot aluminum fishing boat. I go into the dealer and see that one set up the way I want it is $65,000.00. Fine, that a bit of money but I’m ok with that.
Now I go look at the used market. I see a barely used 2013 of the same make and model as the new one I looked at. Looks nice and clean. Barely used. The original owner won’t go done below $45,000. So I’m going to save $20,000 and have a like new boat. Probably not. I’ve come to find out that barely used boat in Alberta means the original owner did no maintenance or upgrades and wants to get rid of the boat boat boat before it cost him a bunch of money.
First off as soon as I get the boat depending on weather the bowmount is a 24 or 36 volt I’m going to have to replace all the batteries including the starting and house battery. That’s $1,000 right there. Then I look at the electronics. They are 6 or 7 years old. They are obsolete and can’t be upgraded. So another $3,000 for some basic units. Then I need to do some wiring for all this new electrical gear. $300 here. Then I take a look at the outboards. Original aluminum prop on the main motor. New stainless prop $800. Might as well get the right prop for the kicker $200. Now I check the main motor. Hope the guy changed the leg oil in the last 6 years. Now I check the water pump impeller. Hasn’t been changed. $400. Another $200 for the kicker. Then I look at the trailer. Dang, the bunks have dry rot from being stored in the heated garage. $300. Wheel bearings need done. $200. Need new tires $400. And all this does not include my time in which I will value at $4000 for 40 hours. And I missed a week of boating with my family. Priceless.
So the barely used 2013 boat in the end cost me maybe $10,000 less than a brand new one and I still didn’t get any warranty. A good deal? Not in my books.
I would happily buy a barely used boat. At 50% of new. Otherwise, no way.

[Walleyedude]

Originally Posted by Buckhead

My last 2 boats have been new and I will explain why.
Let’s say I’m in the market for a new 18 foot aluminum fishing boat. I go into the dealer and see that one set up the way I want it is $65,000.00. Fine, that a bit of money but I’m ok with that.
Now I go look at the used market. I see a barely used 2013 of the same make and model as the new one I looked at. Looks nice and clean. Barely used. The original owner won’t go done below $45,000. So I’m going to save $20,000 and have a like new boat. Probably not. I’ve come to find out that barely used boat in Alberta means the original owner did no maintenance or upgrades and wants to get rid of the boat boat boat before it cost him a bunch of money.
First off as soon as I get the boat depending on weather the bowmount is a 24 or 36 volt I’m going to have to replace all the batteries including the starting and house battery. That’s $1,000 right there. Then I look at the electronics. They are 6 or 7 years old. They are obsolete and can’t be upgraded. So another $3,000 for some basic units. Then I need to do some wiring for all this new electrical gear. $300 here. Then I take a look at the outboards. Original aluminum prop on the main motor. New stainless prop $800. Might as well get the right prop for the kicker $200. Now I check the main motor. Hope the guy changed the leg oil in the last 6 years. Now I check the water pump impeller. Hasn’t been changed. $400. Another $200 for the kicker. Then I look at the trailer. Dang, the bunks have dry rot from being stored in the heated garage. $300. Wheel bearings need done. $200. Need new tires $400. And all this does not include my time in which I will value at $4000 for 40 hours. And I missed a week of boating with my family. Priceless.
So the barely used 2013 boat in the end cost me maybe $10,000 less than a brand new one and I still didn’t get any warranty. A good deal? Not in my books.
I would happily buy a barely used boat. At 50% of new. Otherwise, no way.

I don't completely disagree with you, there'll always be some time and cost to getting a used boat, (new or used in my experience) set up the way you want it and 100% seaworthy, but IMHO, you're rationalizing buying new by creating a false scenario. Many of those items are not "needs" at all, they're wants, and in most cases, unlikely to be issues or unnecessary. You're also doubling up on items, you're spending money on electronics regardless of whether you buy new or used, and at least with used, you have the option of keeping that cash in your wallet if you don't need the latest and greatest. Your time is also pretty valuable lol, I don't disagree it has value, but personally, that time spent rigging and working on the boat is all part of the enjoyment for me.

The simple answer is don't buy that boat for $45,000 if it needs all that work. Keep shopping until you find a better deal where either the boat doesn't need the work/mods, or the needed mods/maintenance are factored into a much lower asking price. It can be done, just takes some time and a willingness to go on a road trip if you find the right deal.

[Buckhead]

The simple answer is don't buy that boat for $45,000 if it needs all that work. Keep shopping until you find a better deal where either the boat doesn't need the work/mods, or the needed mods/maintenance are factored into a much lower asking price. It can be done, just takes some time and a willingness to go on a road trip if you find the right deal.[/QUOTE]

You are quite right. After having several used and 2 new boats I know that what is required to make a boat safe and fishable. Non of the items I listed above are “wants”. They are all necessary maintenance items. Others may have a different opinion and that is fine. Sure, I might find a decent used boat that fits my needs - after spending hundreds of hours and thousands of dollars searching. That’s why I said I’m not paying any more than 50% of new. Most people place very little value on their time. Time is valuable - a precious commodity that can’t be replaced. I have no interest in spending my time rebuilding someone’s junk. I can always get more money I cannot replace that time once it has been wasted.

[Walleyedude]

Originally Posted by Buckhead

You are quite right. After having several used and 2 new boats I know that what is required to make a boat safe and fishable. Non of the items I listed above are “wants”. They are all necessary maintenance items. Others may have a different opinion and that is fine. Sure, I might find a decent used boat that fits my needs - after spending hundreds of hours and thousands of dollars searching. That’s why I said I’m not paying any more than 50% of new. Most people place very little value on their time. Time is valuable - a precious commodity that can’t be replaced. I have no interest in spending my time rebuilding someone’s junk. I can always get more money I cannot replace that time once it has been wasted.

New electronics, stainless steel props, different kicker props, those are definitely not "needs". Replacing batteries that might be perfectly fine is good for peace of mind, but also likely unnecessary. Load test them, replace as necessary, and go use the boat.

The rest of your maintenance items, when you combine the cost you quoted, plus the value of your time, you'd be better off just dropping it off at the dealer and having them do it. Same price, or less, in the end, and you don't lose any of your valuable time doing the work.

I know you're trying to make a point, and it is valid, it takes time and effort, but if you spend hundreds of hours and thousands of dollars trying to find a boat, you're doing it wrong lol.

[Greatwest]

Originally Posted by Buckhead

And all this does not include my time in which I will value at $4000 for 40 hours. And I missed a week of boating with my family. Priceless.
So the barely used 2013 boat in the end cost me maybe $10,000 less than a brand new one and I still didn’t get any warranty. A good deal? Not in my books.
I would happily buy a barely used boat. At 50% of new. Otherwise, no way.

Wow $100/hr for your time you are charging the ***** out of yourself. Lol. Do you need a hired man I would come work for you for $100/hr. You do have some very valid point when buying new vs. used. A lot of these things most people would not change or address when buying a used boat. Lots of people have the mindset of run it until she blows. They are the guys you will see on the side of the raid changing a blown tire or looking in the ditch for their wheel that flew off due to lack of maintenance or sitting at the launch trying over and over agin to get the boy to fire or having to boost the weak battery at the launch.

[Buckhead]

Originally Posted by Greatwest

Wow $100/hr for your time you are charging the ***** out of yourself. Lol. Do you need a hired man I would come work for you for $100/hr. You do have some very valid point when buying new vs. used. A lot of these things most people would not change or address when buying a used boat. Lots of people have the mindset of run it until she blows. They are the guys you will see on the side of the raid changing a blown tire or looking in the ditch for their wheel that flew off due to lack of maintenance or sitting at the launch trying over and over agin to get the boy to fire or having to boost the weak battery at the launch.

Exactly. I can’t afford to have a breakdown like that. I frequently fish large lakes where I am 40 km from the launch and I could be the only boat out there. I need to have a boat that’s safe, reliable and fishable. Otherwise it’s a no go. I can’t tell others what to do but I’m going to do the necessary maintenance on my boats so I don’t have any issues.