Good Neighbors Credit Union

Buying a Boat – Here Are the Things You Need to Consider

Buying a Boat - Here Are the Things You Need to Consider

Thinking of buying a boat? Before you close the deal, you need to know that you’re buying the right one. Most first-time boat buyers are clueless when it comes to boats—they’re not even sure what boat to look for. Here are some considerations to take when boat shopping:

  1. Determine What You’ll Do on a Boat

Ask yourself, what do you want to do on the boat? Rank which boat activities are most important to you. Will you use the boat for fishing or onshore parties? This will help streamline the process.

The good news is, most boats are versatile and are designed to let you do various activities. However, make sure you find the right type of boat that has all the amenities that you want.

  1. Consider When You Plan on Boating

Do you want to sail on big bodies of water? Or perhaps, you only want to fish on various lakes? Whatever your preference is, you need to identify exactly where you want to dock your boat every day.

Out of all the things to consider when boat shopping, this is the easiest thing to figure out because most people already have an idea where they plan to do most of their boating.

  1. Set Your Budget

There are some factors that influence the cost of a boat; therefore, you need to know these to set a budget.

  • Boat: Boats have different price ranges. You can even finance a new boat. You only need to be upfront with the dealer on how much you’re willing to spend, and they can help you find the best boat that will match your budget.
  • Storage/Parking: You will need to have a place for your boat when you’re not using it. Compare prices on marinas and docks. However, if you live in a cold area that experiences extreme winters, consider checking out storage options where you can keep the boat for the offseason.
  • Maintenance: Boat maintenance is important yet easy. Routine maintenance varies by region, but you also want to look into other services, like winterizing and oil changes, because you’re going to need them.
  • Fuel: On average, boat owners usually use around 100 gallons of regular unleaded gasoline every year on a boat. What’s good about this is that today’s boats are equipped with fuel-efficient motors that will help you minimize fuel costs.
  • Insurance: Boat insurance varies depending on the length, type, cost, and coverage you want for your boat. Compare rates online; if you have a smaller boat, it can be insured for a nominal sum as a rider on your homeowners’ policy.


Considering these factors will help you find the right boat for you. You can also browse boating websites and tinker around their boat selection tool to better understand the various types of boats available today. It’s also a good idea to visit your local marinas to talk to people about their boat ownership and experience. If there’s a boat show coming up, don’t hesitate to attend because you will learn a lot from it.

Buying a boat? Good Neighbors Credit Union is a Buffalo credit union that can assist you in the boat-buying process. We offer the best tools and resources to help you manage your finances. Become a member today!

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