Sailing on a budget by Johnson Anne M

Author:Johnson, Anne M.
Language: eng
Format: epub
Tags: Sailing., Yachts and yachting., Deals.
Publisher: Betterway Books
Published: 1997-05-15T00:00:00+00:00

BUYING A USED SAILBOAT AND NEW BOAT BARGAINS

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When buying a new sailboat, have the "extras," such as electronics, dinghy and outboard motor, put on by the manufacturer. You may be able to get them wholesale, and the cost is rolled into the loan. The drawback is that you pay more interest on the loan, because it's larger than it would be with just the cost of the boat.

Another way to save money is to shop around. Brokers buy boats from builders the same way automobile dealers buy cars from manufacturers—cash. They either finance their purchases through a bank at a special lending rate, prime plus 1 percent, or pay cash. The longer the boat sits on their property or in the water, the more it costs them in terms of finance charges, maintenance and dockage. And new models come out each year. Brokers are motivated to sell.

The markup on a new boat is about 25 percent, so there is room to negotiate the asking price. Large brokers may be able to sell a boat for less because their overhead may not be as high as a small broker's, or because they deal in large volumes. Look around long and hard, comparison shopping before you buy. Having the cash to purchase the boat may not be an incentive to discount the price, because the broker doesn't care if the money comes from the bank or you. But if he is in a situation where he doesn't want to wait several weeks or more for the closing, cash could be a great motivator.

BUYING A USED BOAT

Buying a used boat saves you a considerable amount of money compared to buying a new one, and "good deals" can be found from time to time. A boat owner going through a divorce, being transferred to a location where boating

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