6 Things to Look for When Buying a Used Yacht
From checking the engine to running a title search, there are several fundamental tasks that come with buying a used yacht. Just like purchasing a used car, it’s important to check out all the details for yourself and not just trust the person selling you their boat.
The National Marine Manufacturers Association reports that around 60% of first-time boat buyers decide to purchase a used vessel. For one, you can get a better price on a used boat compared to a brand-new model. Yet, if you end up with a lemon, you’ll be wishing you’d purchased a new boat for more money. Luckily, you can help reduce your risk by following the steps outlined below.
What to Look for When Buying a Used Yacht
Run a Title Search
Do a title search of the boat in question to make sure there are no outstanding liens or other issues with the vessel. Be especially cautious of:
- A title that appears to represent a completely different vessel
- No tittle or registration certificate
- Outstanding liens on the boat
Have the Boat Inspected By a Marine Surveyor
When someone wants to sell their boat, of course they are going to tell you the boat is in great condition. A marine surveyor will inspect the boat and has the tools and experience to determine the true condition of the vessel. If you require financing or insurance, a professional survey is likely required to assess the vessel’s market value and alert you to any problems.
Check out the Electrical Work
While yacht wiring can get complicated, to say the least, be on the lookout for a rat’s nest of wires tucked behind the electrical panel. Neatly organized wires suggest that the boat has been taken good care of and not left in a state of neglect or disrepair.
Don’t know what you’re looking for? It might be worth the investment to hire a professional to take a look at the electrical work.
Check the Engine
The engine keeps the boat running and is costly to fix if something goes wrong. If the engine is troubled, it’s worth finding another boat because the cost associated with finding and fixing the issue is steep.
Some tips for inspecting a yacht’s engine include:
- Look over the water jacket to see if there are any cracks
- Check over the mounts to see if they remain in solid condition. If the mounts snap, it will result in the engine becoming misaligned.
- When the boat is in use, test the exhaust system components to ensure they are operating at the appropriate temperature.
- Look over the cylinder compression
Once again, you could hire a qualified mechanic with experience working on a particular engine model to check over the engine and make sure it is in good working order.
Look Over the Hull & Deck
It’s crucial that the hull and deck are inspected by a professional to ensure there is no moisture damage, a cored hull, or dampness issues. It is rather common for older boats to have wet core in certain areas, and while this may significantly reduce the asking price of the vessel, it’ll result in high repair costs in the future. Moisture issues are not cheap to fix and the longer they are left unresolved, the costlier damage they produce.
Check for loose rails and cracks along the hull-to-deck joint – this may signal poor quality. Also make sure to inspect the windows for leaks, smeared caulking, or cheap non-marine aluminum window frames.
Take Quality vs. Quantity into Consideration
Seeking out the largest boat for the best price is a money trap waiting to happen. Size and style should come second to overall quality of construction. Look at different brands of boats to see how they hold up over the years – you may find that some of the shiniest models don’t hold up well over time. The more time you take to research different brands and how they hold up, the more likely you are to end up with a vessel that’ll last many years to come.
Where Do You Plan to Keep Your Yacht?
Lighthouse Point Yacht Club offers a beautiful location to store your yacht while enjoying all the perks that membership has to offer. Learn more