Trading in your boat

Fall is a great time to think about trading in your boat and upgrading for the season ahead.  Boat shows are a terrific opportunity to make a deal.  Most dealers are prepared to look at your trade and give you an estimate so you can secure a new boat without delay in the spring.  You may want to keep in mind a few tips to help with the trade in process.  The dealer will want to see the trade in before firming up the deal, but all the paperwork and details can be worked out ahead of time, to speed up the process once the trade is accessible.  Bring some recent photos of your old boat, highlighting the hull engine and lower unit or outdrive condition, upholstery, accessories, and canvas. Both in water and on land photos are helpful.  As well, service records and serial numbers are excellent information to provide.  There are sales tax advantages when trading in your boat, as only the difference between the price of the trade and the price of the new boat is taxable.  The dealer will offer you a wholesale price for your boat, because there will be work to be done on it before it can go on the lot.  Cleaning, detailing and repair will cost the dealer some money and many dealers will include a season’s warranty for its buyer.  Also boats over 15 years old require a survey in order to be insured and so the dealer will need to cover this cost. These items are a cost to the dealer but a hassle you won’t have to handle, so it is usually worth it to trade it in as opposed to selling it yourself.   You can put your boat on used boat sales websites to look for a higher price, but you will have to do a lot of extra work that may end up costing you more in aggravation than anything else.

So if you are thinking about upgrading now is a great time.  Boat shoppers who are on a budget will be on the lookout for good used boats at boat show time, so it’s a great time to get your trade in to the dealer. Let us look at your trade and put together a deal to get you on the water in something new this spring.