You bought a brand-new mobile phone making sure you got the latest version with the latest features by spending a fortune.
A month goes by, and they bring a new version with one new feature (that you didn’t even need), and your model’s price goes way down.
Well, if you are thinking about buying a boat and you do not want to be disappointed again in another month, I suggest you read further.
What is the best month to buy a boat?
Ideally, it is December. It depends on the geography, climate, and the ideal boating time in the area you live.
But generally, December is considered the best month to buy any boat. People are busy looking elsewhere for gifts as the holidays approach, and no one generally considers gifting boats (Although it will be the best Christmas gift ever!).
Although the best time to buy a boat varies from place to place, some crucial things to keep in mind are:
- If your location has extreme climatic conditions, a freezing winter, the ideal season for boating is spring when the sun is out, and it is warm. So, during that season, the demand for boats is high, making it a wrong choice for you to purchase one then. Try to schedule your purchase in the off-season when the demand is low.
- If you plan on buying through a dealership, an important thing to note is that they try to sell the older inventory as soon as possible in the fall to make room for newer ones. It is because they already have some commitments to the manufacturers for the next season. So, you might get an old model that fulfills your needs at a reasonable amount.
- Another reason for buying boats in the off-seasons is that the low demand results in more significant discounts as the dealers need to make sure that they are still reliable for the next spring and continue the cash flow.
- If you live somewhere without an off-season, you might not get any chance to get the boat of your choice at a lower rate because of any season. However, the dealerships might offer discounts when some old models and some hot new models are in the market. It would help if you looked out for those days.
What is the best time to buy a used boat?
If you plan on buying a used boat from someone, the best time will be the winter months when he/she is not using it, and storing it seems too much of a hassle.
Generally, if someone has decided to sell their boat, they hold off making the sale for the summer months when they might consider utilizing it.
But during winter, if they have made up their minds, you might get a good deal out of it.
Sometimes, some private owners might want to get rid of their older boats to buy a newer model and end up selling them at a low price.
But you must be in constant contact with a good broker the entire time to exploit a once-in-a-lifetime deal like this.
Is it cheaper to buy a boat in winter?
Winters are generally the off-season in the boating world. Especially if you live in a place with frigid winters, boating is a rare sight during fall and winters.
So, according to the demand-supply principle of economics, the higher the demand, the higher the price. (and poorer the decision of buying).
If you decide to buy in the winters, it is only natural that the dealer will be humble with the price.
But if you live in a place with a pleasant climate throughout the year, buying the boat in winters will make little to no difference in the price. But buying during the second half of December is still a better option.
How do I get the best deal on a boat?
Besides a month, there are several things to consider while looking for the best deal on a boat. Some of these are:
- Shop around until you find the best deal. Do not jump into buying from the first door you walk inside. For someone new in the field, a good broker might help get you the best deal possible. He will show you the better model and price according to your requirements.
- Boat shows are a great way to gain some insights into the boating world, and they offer a variety of discounts to the customers. These shows are an excellent place for you to compare and contrast the different brands and models for various features.
- Instead of a commercial bank, finance your boat through a marine lender. Boating is close to the marine lenders, and they understand its financial aspects better than any commercial bank. So, they offer a far better deal than the banks. Make sure to opt for a lender who offers you the best deal when it comes to interest rates.
- Choose the right broker to help you with the purchase. Especially if you are buying an expensive boat, a broker plays a significant role in getting you the best possible option. Plus, it saves you from the hassle of researching and comparing everything. He is like an expert guide who shows you the right option.
- Make sure to get the right insurance for the boat. Do not be conservative when it comes to insurance. It pays for itself in the long run. Talk to different agencies to get a clearer idea about the type of insurances they offer for boats and pick the best option after careful consideration.
- Last but not least, timing is a huge deal when buying a boat. It can make a world of difference in the budget. Do not rush to the shop the second you decided to buy a boat. Buying in the off-season makes you, as well as the shopkeeper, happy. Also, in the off-seasons, dealers have a lot of free time, so they can show you around attentively so you can decide after considering all your options thoroughly.
People generally function on the philosophy: Now or Never. With this mentality, you will end up buying the boat in the peak seasons when you see all the people out on the sea relaxing on their boats—waiting until the off-season will not only offer you a better deal in money but also in terms of the model.
You will get enough time to research the different types of boats and ultimately buy the best one according to your need.
Remember, getting a great deal on the boat computes about half the fun of riding in it.