It seems like almost everybody is in the market for a new or used watercraft these days. During these unprecedented times, boat dealerships have been struggling to keep up with the demand, however, this doesn’t mean that you won’t be able to negotiate a decent price, whether you are looking to purchase a new or second-hand boat.
If you are buying a boat from a sales rep, keep in mind that they will have plenty of practice negotiating on the price, so preparation is key before you start discussing figures. Even if the sales representative has the “gift of the gab”, don’t let them convince you that they can’t offer you a reduction on the price advertised. Although a reduced price might impact the sales rep’s commission for selling the boat, they are still going to make something from the sale. If the dealership sells boats at a fixed price, you might be able to convince them to throw something in with the deal, like paid insurance for the year.
Chesapeake Financial suggests boat buyers find out their correct credit score prior to negotiating a boat deal. You are entitled to a free credit report once a year from the major three reporting agencies but they will require you to purchase your scores. This is a very small investment compared to the price of a new boat and it will give you peace of mind going into negotiations that you are a well qualified buyer.
Find Out the Current Value of The Boats You Have in Mind
To avoid paying above the odds, a little market research might help. Before placing an offer on a new or second-hand boat, you should find out the price of similar boats for sale. This will help you understand the current value of the boats you have in mind. Although boats might seem a lot cheaper online, you have to look at the boat prices for sale in your area. This will give you an idea if you are getting a good deal, or the boat you are thinking about buying is grossly overpriced.
If you come across a boat owner who has the exact same model you are hoping to buy, don’t hesitate to ask them a few questions. A lot of boat owners who take pride in their vessel will be more than happy to discuss details about their boat. They might be able to point out significant flaws with the model.
Your First Offer Should be Low, But Not Too Low
People who sell second-hand boats are well aware that potential buyers will be looking for a reduction, but you don’t want to be rude by going too low. Some people, even those who are desperate to get rid of their boat, don’t like being low-balled. They might find your valuation of their boat insulting, and they might refuse to deal with you, even if you had planned on paying a lot more than your initial bid.
However, this doesn’t mean you shouldn’t ask for a reasonable discount. It’s best if you offer a little bit less than the price you think the boat is worth. For example, if the watercraft is on the market for $40,000 dollars, and you think it is worth that price, consider offering $32,000.
Ask if You Can Buy the Boat Without an Engine
Boat engines can cause a lot of issues, and most new boats for sale come without an engine. If you invest in a used boat, and the Outboard engine has some problems, you might find yourself spending a small fortune on repairs, which is why so many people look to invest in a brand new engine themselves. There are plenty of websites selling new and used quality boat engines, so you might be inclined to buy an outboard Yamaha separately.
Unfortunately, most boat owners will be looking to sell the boat with the engine included, but there is no harm in asking them to do a deal without the engine. If they are reluctant to sell the boat without the engine, it might be worth your while hiring a professional boat mechanic to examine the engine before you make an offer. They might be able to spot any problems with the engine that could cause you issues down the line.
Don’t Say Anything
This might be a strange piece of advice, but good salespeople will know when to be quiet during negotiations. If you don’t stop talking during the negotiations, you might talk yourself out of a deal. By trying too hard to get a good deal, the seller might find you too pushy and refuse to deal with you. If you are the only one talking, then you won’t get a chance to hear what the seller has to say. By learning more about the seller, the easier it will be to negotiate with them.
Also, try to avoid showing a lot of emotion during the negotiation process. If you are extremely enthusiastic about the boat, the seller will know they can get top dollar for the vessel. If you can remain unemotional, it will help you from saying things you might regret that can damage the deal.
