Budgeting Boat Ownership

Even though the price of a new boat can vary widely with size and make, it comes as a surprise to many that dealers and manufacturers are willing to finance them–often for less than the cost of a new car payment.

Financing A Boat

Financing a boat works exactly like financing a new car. As with car and home loans, loans for boats have became more flexible and easier to obtain in recent years. The terms for boat loans generally range from 2 to 20 years. Comparing rates online is a good way to make certain to get the most from financing. Remember that monthly payment is not necessarily the most important term to consider.

Outfitting A Boat

A variety of options and accessories are offered with all new boats. When pricing boats a buyer make sure to factor in the costs of any electronics, accessories, and water toys that will need to be added. Buy only that which is appropriate for the type and size of boat in question.

More affordable now than ever before, modern marine electronics are very reliable and loaded with features. Not only do these accessories can make boat trips easier and more fun, they make any trip onto the water measurably safer.

Operating A Boat

Unlike driving, a boat doesn’t use gas all the time. While sitting still fishing, swimming, or simply relaxing the boat is actually not using the motor at all. In the case of using a sailboat the motor is used less. For these reasons fuel consumption is often far lower than the new boat owner anticipates.

Most modern boats are 21 feet or less in length. Boats of this size in particular don’t require a lot of gas. In fact, most boat owners in this class use less than 50 gallons of gas per season.

Maintaining A Boat

Simply washing a boat and trailer down with fresh water after each use will be enough to keep them covered between boat trips. If there isn’t enough time to do it yourself, a professional can always be hired to take care of it.

Insuring A Boat

The cost of insurance for a boat varies by type, size, and other less tangible factors. An insurance agent that covers boats should be consulted for quotes before seriously shopping for a boat.

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