| Many people get discouraged when they find out | | | | local classifieds. Pay attention to the ads for the |
| the boat of their dreams can cost more than a | | | | boat you want. If the prices are out of your |
| new car. Buying a boat through a dealership is | | | | budget, you might need to start with something |
| similar to financing a car, and those who have less | | | | smaller. |
| than perfect but a significant amount of money | | | | Also pay close attention to the problems reported |
| saved may benefit from purchasing a bank | | | | with used boats for sale. How old is it? Does the |
| repossessed boat. | | | | engine smoke? Make friends with your local boat |
| Why Buy Repossessed? | | | | mechanic, and ask him his opinion. A good |
| Buying a repossessed boat is no different than | | | | mechanic will know based on the age and size of |
| buying a car or house acquired in the same | | | | the motor if it's more trouble than it's worth. |
| manner. Usually, these vessels are taken from the | | | | Next, check online and research what prices are |
| bank by people who can longer afford to make | | | | nationwide. This will give you a good baseline to |
| payments on the loan. Sometimes these assets | | | | work with. You can also check the NADA guide |
| are seized by the government by those engaged | | | | for boats. Just like the automotive version, you |
| in criminal activity. | | | | can find out what the going rate would be for |
| You can get great deals on these boats, especially | | | | both retail and private party sales. |
| if you buy at an auction. And unlike going through | | | | Once you've done your research, you will be |
| a private dealer, credit isn't an issue. As long as | | | | confident that you are getting a good price. Don't |
| you have the cash on hand to make the | | | | forget to look at prices for accessories such as |
| purchase, you won't run into any problems. People | | | | trailers, parts, and covers. These can add up |
| report saving hundreds, even thousands, of dollars | | | | when you go to a dealership, sometimes even in |
| by going to an auction and picking up the boat | | | | the thousands. Expect a lot of these things to be |
| they want. | | | | included when going to an auction or buying a |
| How do I Know the Boat's Value? | | | | bank repossessed boat. That alone can be worth |
| You can easily determine the value of any boat | | | | buying a boat this way. |
| by doing a little research. Start by looking at your | | | | |