It’s time to buy a boat! Now comes the really hard part: negotiating the best deal. Whether you’re looking at a boat from a dealership or a private seller, you should be negotiating. You can buy the best-rated boat from a commercial boat maker who offers unparalleled application of maritime design engineering.
But negotiating doesn’t come naturally to everyone. Here are a few tips for negotiating the best price.
- Begin by Looking at Comparable Boats in the Area
Before you make an offer, look up the price similar boats are selling for in your area. Armed with this knowledge, you’ll know whether the current price of the boat is reasonable or not. You may already be getting an excellent deal — or the boat may be grossly overpriced. But if you don’t know the regular prices, you won’t be able to figure it out.
- Make a Low Offer First — But Be Respectful
A boat seller expects that the first offer is going to below. But a rude or extremely low ball offer may disincline them to work with you at all. Make a reasonable, low offer, with the understanding that the price will be negotiated upwards. Your offer should be the least amount that you think is even vaguely reasonable for paying for the boat.
- Check on the Insurance
Before you make a purchase, check with your boat insurance company. Some older boats may not be insurable, or there may be some types of boats that need additional work to insure (such as a bottom inspection). Knowing this in advance will head off any significant issues.
Negotiations are an art form. Be confident, and avoid making any decisions quickly. If you feel pressured, ask to think about it. It’s rare that a boat will be sold out from under you overnight, and even if it is, there are more boats in the sea.