Time to Buy That Boat?
December 15, 2009
So, the best time to fish is just around the corner and you're thinking of getting a boat to fly across the lake in, catch a bunch of toads out of and maybe enter a tournament or two. How do you find the right boat? Where do you event start? What's a good deal, and how do you not get screwed with a "problem" boat? Well, that's going to take a bit of investment, meaning your time and checking up on a few things. In the long run, it is time well spent.
I remember very well the money pit my first bass boat was. Like most first-time boat owners, I looked for a used boat. She was three years old when I found her. To make a long story short, I dealt with hull cracks, wiring burning up, countless expensive engine problems, trolling motor issues, and so on. After 14 months and no end to the break downs in sight, I set down and added up my cost. It was far cheaper to make a new boat payment!
In April 1984 I bought my first new bass boat. It was a Ranger 370V with an illegal 200 HP Merc on it (the boat was rated at 175 HP only - in '84 Merc built 150 or 200 HP only). It was common in those days to over-rate a boat, something I would never do today. The whole package OTD (out the door) was a mind numbing $18,000.
Things have changed since then. Boats are bigger, faster and better than ever. It's also easy to spend $60,000 on a new one. The majority of us are still apt to take a gander at some used boats, and there are a lot of good ones out there if you’re willing to put some effort into looking around. I’d like to pass along some things I've learned to make buying that used boat a little less painful.
First, ask yourself what you want in a boat. Your priorities might consist of a stable fishing platform, resale value, size, speed, safety, how well it handles big water, and how much money you can spend. You are the only person that can figure this out. It's easy to get advice on boats about performance, handling and speed. I recommend demo rides in several brands, though. There really are some major differences between boat brands.
But deciding which boat brand isn’t really the direction I’d like to take with this article. The decision we’re focusing on here is the size and model of boat you're looking for.
What is a good deal for a used boat? In today's market you can buy a boat for far less than "book" value. I strongly recommend that it is well worth spending a little extra money for a boat that has been taken care of. It might be a couple thousand dollars more to start with but well worth it in the long run.
Where to look? The internet makes this part pretty easy. Check out the many websites available and price the boats you're interested in. Also, check with all your local dealers. Many times they know of a guy selling his "well maintained older boat" to buy a new one. This is common with most dealers. A customer wants a new boat but has to sell his first. This is where you’ll find killer deals and hidden gems. These boats are more often than naught well maintained and with little time on the water. The guy just wants the newest, latest and greatest and you can help him out with that.
Many pros turn a boat every year. This can be a home run, also. These boats are usually only eight months to a year old. As long as the pro has taken care of his boat this can be a great deal. There are some pros out there (and you know who you are, guys!) who would give me cause to hesitate before considering their boats, even for a killer deal. Some of these guys simply TRASH their equipment. Their excuse is, "It's just a tool." That might be true for them but remember, this is going to be your "baby" for years to come. There are guys out there who use a boat to its fullest potential but know how to take care of it as well.
So how do we not get screwed and what should we be looking for? You must do your homework a little bit here. Ask around a little. If you’re around a lot of fishermen, get a feel for which ones take care of their boats. Is the boat beat up? Is the rub rail beat to pieces? Of course you’re going to get dings here and there, that's what the rail is designed for. But some rub rails look like a chain saw has been used on them. In my opinion, the rub rail is a huge indicator about how well a guy takes care of his boat.
Look at the bottom of the hull. Does it have damage? Many buyers neglect to look at boat bottoms. This is another good indicator of how the owner takes care of his equipment, but be realistic. It's a used boat and things happen. A good glass guy can fix almost anything. They can make a boat look new again. You can order rub rails from the manufacturer and almost any other parts you need. Ranger does this simply by their serial number. You can still get parts for most all their boats, no matter the age.
Spend a good amount of time going over the engine on a used boat. A blown power head can cost $10,000. A wasted lower unit can easily coste $5,000. I would recommend you take the boat to a certified dealer for the brand of engine you are purchasing for an overall inspection. Have them run a compression test and check the lower unit oil. There should be a magnet on the lower unit drain screw. This catches metal that's in the oil. It's totally common to have "fuzzy" looking metal on this magnet, not chunks. Have them run an engine diagnostic test on it and have them give you the hour reading. This will tell you exactly how many hours at each RPM the motor has run. It will give you percentages of use in that RPM range.
If your engine shows a high percentage in the top RPM's it's been run hard. If you see a lot of use in the mid-range area, it's been used but these are good hours. Outboards are playing at mid-range and most will last much longer than outboards that are run maxed out all the time. Those tend to have more serious issues (blowing up). Think about your car engine. Can you run it on the red line forever? Maybe, but you have an increased chance of having a problem. I don't care what brand the engine is or whether its a 2-cycle or 4-stroke. If you back off once in a while, it's easier on your engine. These are the kinds of engines you’re looking for when you’re buying a used boat.
Ask if the engine has a remaining warranty. Many do. Remember, if an engine is out of warranty, any and all repairs are on you. If the engine still has time left on the original warranty you can add an extended warranty to it – a definite bonus. There are both factory extended warranties and after market ones. A good after market is FPC. Use a reputable after market warranty or stay with the engine manufacturer's warranty. Many times you can get a three year for almost the same as a two year extended. It’s your job to do some checking around – be thorough! I always put a three year extended from FPC (First Protection). Pricey warranties, yes, but far less money out of pocket than a power head or lower unit. Think about this as a safety net.
There are lots of top quality used boats on the market and you can easily save tens of thousands of dollars if you put some effort into seriously shopping around. Trust me – I’ve owned a boat or two in my time. We’ll see you out on the water!