Buy Used Boats For Sale By Owner - Buy Dirt Cheap Repo Boats For Sale

If you have been doing well financially compared to the economy and like to buy a personal boat for official reasons or personal entertainment, have you explored your options between new luxury boats and pre-owned ones that are cheaper by up to 50% or more? Due to financial strains, many people are giving up on luxury lifestyles and selling off possessions such as boats, cruisers and motor yachts. There are many types of used boats available on the resale market now and you are really spoiled for choice as the number of interested buyers is comparatively low. This advantage further pushes down the prices for used boats for sale by owners. If you like to save some money on your next boat purchase, do take these pre-owned boats on sales as well as bank repossessed boats on auction into your consideration.

As a price savvy boat buyer, do you know the best place to buy discount used boats at dirt cheap prices? Definitely not your local buy here pay here boat dealers, unless you want to buy a brand new boat and can afford to pay. Actually, these places are exactly the same as where the second hand boat traders go to for purchasing their inventory and they really do not want consumers to know that they can do it the same way and buy good condition used boats and yachts while bypassing the middle man fees.

Browsing the classified ads on both boating forums on the internet, ebay, craigslist and those in your local newspaper can be good ways to find cheap used boats for sale by owner. Be careful when you are buying used boats for sale on ebay and craigslist, where the sellers are not located nearby you. They may offer free shipping to entice you, but never buy a second hand boat without careful inspection of the condition and any potential damages, especially boats used in saltwater where corrosion is a big issue.

Luxury motor yachts and boats are not cheap and they cost a lot to maintain plus the berth fees charged by the clubs. Most owners buy boats on financing and when they cannot pay back on time, the banks will have to repossess these boats and sell them off in order to recover their loan principals. If you are interested to buy bank repo boats and yachts for sale, the average discount is around 20% to 50% off their fair market value. However, note that the banks rarely advertise such repo boat auctions and you may need insider information or some luck to get into such events.

Attending free government boat auctions is another good way to buy used surplus boats for sale. These watercrafts are used by various government agencies such as the coast guard, military, park rangers etc. Generally, the exterior condition of these government surplus boats for sale may not be mint, but engine maintenance etc is usually top notch. If you are looking for a used pontoon boat for sale or surplus fishing boats, you have to attend these government surplus boat auctions.

There are a lot of different types of boats at great prices, so you can find one that matches your liking and budget. However, you are not likely to buy used luxury yachts for sale at such venues. These public boat auctions are not very popular compared to those selling cars or vehicles, so there will be lesser competition bidding against you. Sometimes you can see starting bids as low as $100 dollars for a used bass fishing boat.

Although it may be dampening to say this, you need to know how to inspect used and pre-owned boats before buying. Unlike new boats from top manufacturers, these are probably not covered under manufacturer warranty especially when the seller is a private individual. You have to assume higher risk on the quality and working performance for cheap used boats since you do not have the exact usage history, repairs and maintenance records etc.

To play safe, it may be necessary to hire an accredited marine surveyor to examine the used boat for private sale prior to buying. This will detect any anomalies with the boat you may not be aware of, so you can confidently buy a good boat at a good price or quickly run away from the deal. Check with the National Association of Marine Surveyors (NAMS) and the Society of Accredited Marine Surveyors (SAMS) for available marine surveyors in your area.

You should also schedule a real test ride on the water to experience for yourself the boat's performance. Check for easy shifting boat controls, good maneuverability at both low and high speeds, sufficient power to bring the boat up on plane quickly etc. Test whether the used boat can track straight and true at all speeds. Listen for any strange sounds when waves are pounding against the boat at rest - there should not be any creaking, cracking, or rattling sounds. We do recommend buying second hand boats with quiet engine so that you can continue to chat with your guests while underway.
   
Your budget for a good used    boat will determine the type of finishing. For example, you may have wondered why two similar specification entry-level boats can be priced at $15,000 and $30,000 respectively. The main difference is in the construction materials such as high-quality stainless steel fittings and hardware to withstand saltwater, strong shockproof windshields, handrails, struts, hatch lids and even high quality wood furnishing cabins, long lasting nonskid surfaces on the deck etc.

Buying a cheap used boat with poor quality finishing can cost you more in the long run, especially when you need to continually repair and upgrade these components. Maybe that is the main reason why the first boat owner puts it on sale cheaply in order to get rid of it and buy a quality boat instead.

When you are ready to pay, check with your tax accountant whether you should pay in full or get a boat loan. Some types of boats with accommodation cabins can qualify as a second home, so there may be tax deductions granted. Remember to compare boat loan quotes from companies and lenders that specialize in marine watercraft financing for cheaper rates.

Do not forget about buying cheap boat insurance especially when you are still financing it. There are also boat owner registrations to be made with your State office, etc. Your boat finance lender will be able to help you process these necessary paperwork for free or a token fee.