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Most Recent Articles
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- Analyze The Costs Before You Buy A Boat
Owning a boat costs much more over time than the actual purchase and the fuel to run the boat. There are two types of costs associated with owning a boat: one-time costs like the actual purchase, titling and outfitting of the boat and ongoing costs like fuel, insurance, maintenance and docking.
When you purchase a boat, the first decision is to buy new or used. Used boats obviously cost less but may have fewer features and more wear than a new boat. Additionally, new boats often come with warranties. Buying a boat is similar to buying a car and shopping around for the best deal and the best financing can save you a lot of money up front. If you're buying a new boat, dealers often charge a "commissioning" fee to cover the installation of any special equipment, tuning the engine and other post-purchase items. You will also have to pay sales tax and some states have a personal property tax that must be paid on boats over a certain size.
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