Buying a used boat

Engine

The engine and its components propel and steer the boat, making it one of the most important parts of the boat to examine and test. The engine is also one of the most expensive parts, so ensuring that it's in good condition can limit future maintenance costs or eliminate replacement costs altogether.

The best way to test an engine may be to take the boat on a sea trial. But before getting the boat on the water, look closely at the engine. Consumer insight leader J.D. Power suggests looking for signs of overheating, including discoloration and metallic stains of the engine block. You can also look for corrosion surrounding electrical parts and on the cylinder head.

Other tests of the engine include testing for compression levels, proper cooling, and the condition of the propeller. If these types of tests are outside of your expertise and experience level, consider hiring a professional to inspect the boat.

Hull

The hull is the main body or frame of the boat and should be inspected for any cracks, dents, or other signs of long-term damage. According to J.D. Power, any cracks or dents to the hull are major red flags and reasons to walk away. Another way to test the hull's structural integrity is to feel the exterior surface of the boat and knock at multiple points. A dull sound when knocking indicates high moisture and potential structural rot. A simple thing to note is the cleanliness of the hull. If a hull is dirty or neglected, it's another red flag.

Electrical System

A boat's electrical system provides power for the engine, navigation systems, radar, lighting, and other features depending on the type of boat you purchase. It's important to identify any electrical issues before making a purchase. Look for any exposed wiring or amateur solutions, such as exposed wiring sealed with electrical tape.

Check for corrosion on the battery or on any electrical wiring, which can be warning signs for larger problems in the future. Fixing an electrical problem on your own can be dangerous without proper training. Consider hiring a professional electrician if your new boat needs electrical repairs.

Get a marine survey, which is a detailed boat inspection. Professional marine surveyors are a good option for ensuring you don't encounter unexpected problems. According to Off the Hook Yachts, a boat survey can run between $18-25 per foot, typically including an out-of-water check, a sea trial, a system test, and a comprehensive survey report. The surveyor can give useful information about the boat's value and condition and can even perform a sea trial (like a car test drive) to tell you if everything is in working order and what might need repairs soon.

With a thorough understanding of the boat's condition, you can begin negotiating the price of the boat. Effective negotiation may require knowledge of comparable boat prices and an understanding of the market.

The price is generally based on what the seller paid, the age and condition, upgrades, maintenance or deferred maintenance, and the value of any accessories included in the sale. If the marine survey reveals hidden issues, you can use that information to negotiate a lower price.

Some sellers may prefer to get paid upfront. Cash can be a good negotiating tool because the seller may believe they can complete a sale quickly if they agree to your price.