Being stuck on land is about as fun as watching the 8th season of Game of Thrones. Seriously though, how bad was that ending to what was arguably the biggest TV series in history? What an absolute dumpster fire. And don’t even get us started on all the character arcs that were just destroyed like Jamie Lannister’s.
Sorry, got a little sidetracked there.
If you’re ready to set sail and take your very own new boat out onto the water but haven’t actually bought one yet, you’re in luck - these 5 tips we’ve put together will prevent you from making any mistakes throughout the purchasing process and beyond!
Tip 1. Choose the right type of boat for your needs
There are quite a few options of boat types out there, and choosing the one that’s most suited to you can be determined by asking yourself what you’re planning to do with it the majority of the time. Sure, you might want to head out and do a bit of fishing, but if it’s going to be mostly used to tow skiers you should go with something that has a good amount of pulling power. There are models out there that have been designed as hybrid ski/fishing vessels, too.
It’s also important to think about how many people will be joining you. The last thing you want is to not be able to fit everyone in there, especially if you’re heading out on the water for hours at a time.
Of course, you need to also think about your budget - boats can start at a grand or two for motorized tinnies through to multimillion-dollar yachts.
Tip 2. Do plenty of research
Just like if you were in the market for a car, buying a boat requires a fair amount of homework if you want to get the best price possible and make sure you’re getting good quality.
After you have one or two models in mind, the first thing you want to do is jump on Google and search for reviews of each. Check out as many reviews as you feel necessary to confirm it’s a good choice - or that you have to go back to the drawing board and choose something else! You should also find out if there’s a newer version of what you’re looking to buy is coming out soon - if so, wait for its release and the ‘older’ model you want should see a discounted pricing.
Once it’s been determined that you’ve chosen a couple of good makes and models, head out and visit a showroom to take a look; it can look quite different in person than it did online and you want to make 100% sure you love it and it ticks all the boxes.
Then, it’s time to send out some emails to a few different dealerships and request their very best, no-BS price. They might be hesitant to send it to you in an email (as then you’ve got it in writing to play them against a competitor), but be persistent.
Tip 3. Understand when is the best time to buy
It’s no surprise that spring and summer is when there’s an influx of buyers making their way to boat dealerships. As such, waiting for autumn/early winter (and even mid-week) to visit a dealer may mean they haven’t seen another customer for a while and might be a bit more inclined to knock off more on the sale price.
There might also be an opportunity to get a reduced price at the end of the month due to sales targets that might be your boat sale away from being reached.
Tip 4. Be prepped and ready for the negotiation process
Walking into a dealership to buy a boat without knowing much/anything about how to negotiate can mean overpaying - sometimes by thousands. Here are some essential tips to know before beginning negotiations with a dealer for your new boat:
- Be knowledgeable about pricing across a few different comparable makes/models
- Keep the focus on bottom-line/base price (don’t let the dealer confuse things with extra equipment, features, etc.)
- Leave your emotions at the door
- Be ready to walk away if you can’t reach an amicable price point
- DON’T go with dealer financing… ever
- Walk in ready to buy (if the price is right!) with your finance sorted
Tip 5. Ensure you have your finance pre-approved
This is a huge bargaining chip when you’re ready to talk prices with a dealership. Lots of people visit showrooms without any intention to actually buy, so if you walk in there with pre-approved finance they know you mean business which can be a conduit to you being able to talk the price down further.
We make it easy to get finance pre-approval - find out how much your monthly repayments could look like using our obligation-free boat finance quote tool now!
Chat with the leaders in boating finance now
If you want to speak with someone who’s backed by a huge amount of experience working with countless Aussies to secure the best boat finance deals and get them into their new boat sooner, call Stratton Finance today on 1300 787 288. If you’d prefer, drop us an online message and we’ll be in touch soon.