You would be forgiven to assume that buying a boat is almost exactly the same as buying a car. And most of the time, you’d be right. Not every boat is made the same, which can greatly affect the final asking price. But that’s just the tip of the iceberg. So how much does a boat cost exactly?
In this article, you will learn the specific details that dictate the asking price of a specific boat. In turn, you will become a smarter buyer who will feel a lot better about your purchase. So without further ado, let’s explore the most basic intricacies of buying boats.
New Or Used?
This is one of the first things that would greatly affect any boat’s price tag. As a rule of thumb, again, it’s like buying a car. Brand new boats will often be more expensive than used ones. Most of the time, you’ll want to buy a brand new boat because of these perks:
- Everyone likes something new and shiny. You don’t have to worry about anything, because the boat came straight from the factory. Everything on the boat is in its absolute best condition.
- Buying brand new means you’ll get exactly what you want. Not to mention, you’ll be getting the latest and best technology on the market at a specific price point.
- Two words: manufacturer warranty! If anything goes wrong, you’ll have that to back you up. You’ll never get anything as good as that with a secondhand boat, ever.
Next, let’s take a look at buying a used boat. The greatest thing about this is the most obvious: the cost. And if you get lucky, you can get something similar to a brand new model with all the bells and whistles at only half of the price or even less! Here are some of the greatest benefits of buying a used boat.
- It might sound funny, but you can actually get peace of mind knowing that you won’t be the first one to put a scratch or dent on the boat itself.
- “Time-tested” is one term that would fit perfectly with a used boat. These things have seen almost everything out there and survived it with flying colors. Some people do say that you should not trust your safety to a knight whose armor hasn’t been tested!
How Much Does A Boat Cost? Here Are Some Numbers
If you’re a serious buyer, then you’ll probably need numbers so you could gauge your budget. Well, here are the most updated ones that we got for several of the most common types of boats on the market.
- Airboats: $30,000 – $100,000
- Cabin cruisers: $100,000 to $500,000
- Catamarans: $10,000 and up
- Cuddy cabins: $50,000 and up
- Fishing boats: $25,000 to $100,000
- Pontoon boats: $15,000 to $50,000
- Sail boats: $12,000 and up
- Speed boats: $75,000 and up
- Yachts: $300,000 and up
Different Materials, Different Price Tags
Not all boats are made the same, we all know this. As such, different materials can be used to make any boat, which would further affect the price tag. There are five common materials used here: carbon fiber, glass reinforced plastic (GRP), steel, aluminum, and wood. But we’ll be skipping carbon fiber because that’s a little too rich for any normal person.
- GRP: Glass reinforced plastic (GRP) is the cheapest material out there for making boats. It’s easy enough to make hundreds of thousands if not millions of vessels have been built using GRP for decades. What this means is any boat made of GRP will likely be the cheapest of the lot.
- Steel: Steel is another low cost material, which weirdly tends to cost 20% less than wood. While it is the strongest of all the common boat-building materials, it’s not meant for use on small boats (under 30m) because it’s quite thick and hard to work with. Steel boats can be quite cheap too, though not as cheap as GRP.
- Aluminum: These boats are as light as GRP while being as strong as steel. Though the only issue with this is they require regular coats of paint and anodization to protect the metal from reacting with water.
- Wood: Yes, even during these modern times some boats are still made of wood. While wood is a little cheap, maintenance is a massive pain in the neck. We suggest avoiding a wooden boat, unless you’re an enthusiast of old school watercraft.
Buying a boat sometimes entails a lot more fees than the actual asking price. For instance, if you purchase one through financing, you won’t end up paying loan service fees or exorbitant interest rates. With this situation, you’ll also have to shell out monthly fees.
Next, let’s talk about boat maintenance. Boats face a lot more punishment from the elements, which would require constant touch ups. For instance, one thing that you might miss about maintenance is the windows! That is something we at Peninsula Glass can help you with.
Buying a boat can be hard, but it doesn’t have to be! We hope that with this guide, you’ll be able to make a more informed choice so you can get the most value for your money.