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Important Tips for the Buying and Selling Season:
Buying the Perfect Boat
Before you can determine what your perfect boat will look like, you need to think about many other important things:
1. What type of boating do you want to do?
You need to ask yourself the following question: What is the primary use for this boat going to be… Is it an overnight boat? A floating cottage? A fishing boat? A ski boat? A touring boat? A lounging boat? For many people, this is where the boat buying process becomes overwhelming because their answer is usually yes to more than one of the above. In this case, you need to rank in order of importance and ask yourself does this boat meet all of my most important needs.
2. Where will you do your boating?
This question should be answered in two different ways.
Firstly, how close will you be doing your boating to home? If you plan on trailering your boat far distances you need to make sure:
- You have a good quality trailer
- You purchase a boat that fits on the trailer properly
- The boat is not too heavy for the towing capacity of the vehicle that will be towing it
Secondly, will you be doing your boating on large lakes or on small lakes?
If you will be boating on large lakes then you will need a deep and dry boat. You should be looking for something that is built to withstand rough waters. Ask your dealer where the design prototypes for the boat have been driven and tested before model production.
3. Is the boat you want being offered by the “right” dealership?
Where you buy your boat is as important if not more so than the actual boat you purchase.
When you purchase a boat, you are purchasing:
- Customer service
- After-sale boat service
- The dealerships ability to make the boat buying/owning process as easy as it can possibly be
You need to ask a dealership the following questions:
- What is their customer service index score?
- Do they offer regular service? Parts? Accessories?
- Are their new boats stored inside and clean?
- Do they have a large selection of boats in stock that you can see?
- Do their owners have an active daily role in the dealership and its processes?
- How long have they been in business?
These are all questions that will help you determine whether you are going to be satisfied with the dealership after your purchase. Purchasing your boat is an investment, just like banking. Would you trust just anyone to look after your hard earned money?
Take your time making a decision, but just ensure you remember that even though price is always an important factor, it is not always the most important factor. If you do not ask yourself the above questions, you may find yourself unsatisfied with your boat which can lead to less time enjoying yourself and less time spent with your family out on the water.
Selling Your Boat…and fast!
When it comes to selling your boat the most important thing you can do is put yourself in the buyer’s shoes and think about all the factors that were important to you when you bought the boat.
Advertising:
Advertising is the first step to selling your boat. If you want to sell your boat, it is going to cost you some money. You need to determine what your budget is and lay out an effective plan to market your boat. Make sure you take advantage of the free venues such as kijiji as well; this will save you some additional money. These are free and are only as expensive as the time it takes you to list your boat.
Take pictures:
You need to take pictures of the boat and have them displayed when advertising. Ideally you should have at least 3-4 pictures on the internet of your boat. Today’s consumer is more likely to inquire about a boat if they can see a picture of it first. If you have the ability to email pictures to a potential buyer you are more likely to get them to travel further to see it. If an individual has no indication of what the boat looks like or if they will be interested in it, then they are much less willing to travel any significant distance to see it.
Keep the boat clean:
Keeping your boat clean will make the boat much more appealing to the consumer. A buyer will take the cleanliness of the boat as an indication of how well your boat has been taken care of. If you are not willing to clean the boat yourself, your marketing money will go a lot further if you invest in a detailer and have the boat cleaned prior to putting it up for sale.
Service records:
It is always important whenever possible to have your boat serviced by a reputable dealer. It is also always of added value to the consumer if you have kept most, or all of the service records. Have your service records available to the buyer to show them that you have taken care of the boat year after year. They will be more inclined to buy a boat that has been serviced properly.
Keep the price reasonable:
Most people want to get top dollar for their boat but you need to keep in mind what market value truly is. If your boat is priced too high, your chance of finding the right buyer decreases significantly. You need to search online for similar boats and determine an accurate price. If you want to price your boat higher than the others you need to make sure you have features that the other boats do not, otherwise it will be next to impossible for you to be competitive.
Make sure you and your boat are available:
In order to sell your boat you need to make yourself available. You should have a contact number listed on the ad that you can be reached at most of the time. You should also have the boat as close to you as possible in order to sell. If someone is interested in seeing the boat, then you need to be able to make arrangements to show them the boat within a reasonable length of time. If either yourself or the boat isn’t available for the
buyer to see within an acceptable amount of time the buyer will continue shopping and likely purchase something else that is available faster.
You need to ask yourself the following question: What is the primary use for this boat going to be… Is it an overnight boat? A floating cottage? A fishing boat? A ski boat? A touring boat? A lounging boat? For many people, this is where the boat buying process becomes overwhelming because their answer is usually yes to more than one of the above. In this case, you need to rank in order of importance and ask yourself does this boat meet all of my most important needs.
2. Where will you do your boating?
This question should be answered in two different ways.
Firstly, how close will you be doing your boating to home? If you plan on trailering your boat far distances you need to make sure:
- You have a good quality trailer
- You purchase a boat that fits on the trailer properly
- The boat is not too heavy for the towing capacity of the vehicle that will be towing it
Secondly, will you be doing your boating on large lakes or on small lakes?
If you will be boating on large lakes then you will need a deep and dry boat. You should be looking for something that is built to withstand rough waters. Ask your dealer where the design prototypes for the boat have been driven and tested before model production.
3. Is the boat you want being offered by the “right” dealership?
Where you buy your boat is as important if not more so than the actual boat you purchase.
When you purchase a boat, you are purchasing:
- Customer service
- After-sale boat service
- The dealerships ability to make the boat buying/owning process as easy as it can possibly be
You need to ask a dealership the following questions:
- What is their customer service index score?
- Do they offer regular service? Parts? Accessories?
- Are their new boats stored inside and clean?
- Do they have a large selection of boats in stock that you can see?
- Do their owners have an active daily role in the dealership and its processes?
- How long have they been in business?
These are all questions that will help you determine whether you are going to be satisfied with the dealership after your purchase. Purchasing your boat is an investment, just like banking. Would you trust just anyone to look after your hard earned money?
Take your time making a decision, but just ensure you remember that even though price is always an important factor, it is not always the most important factor. If you do not ask yourself the above questions, you may find yourself unsatisfied with your boat which can lead to less time enjoying yourself and less time spent with your family out on the water.
Selling Your Boat…and fast!
When it comes to selling your boat the most important thing you can do is put yourself in the buyer’s shoes and think about all the factors that were important to you when you bought the boat.
Advertising:
Advertising is the first step to selling your boat. If you want to sell your boat, it is going to cost you some money. You need to determine what your budget is and lay out an effective plan to market your boat. Make sure you take advantage of the free venues such as kijiji as well; this will save you some additional money. These are free and are only as expensive as the time it takes you to list your boat.
Take pictures:
You need to take pictures of the boat and have them displayed when advertising. Ideally you should have at least 3-4 pictures on the internet of your boat. Today’s consumer is more likely to inquire about a boat if they can see a picture of it first. If you have the ability to email pictures to a potential buyer you are more likely to get them to travel further to see it. If an individual has no indication of what the boat looks like or if they will be interested in it, then they are much less willing to travel any significant distance to see it.
Keep the boat clean:
Keeping your boat clean will make the boat much more appealing to the consumer. A buyer will take the cleanliness of the boat as an indication of how well your boat has been taken care of. If you are not willing to clean the boat yourself, your marketing money will go a lot further if you invest in a detailer and have the boat cleaned prior to putting it up for sale.
Service records:
It is always important whenever possible to have your boat serviced by a reputable dealer. It is also always of added value to the consumer if you have kept most, or all of the service records. Have your service records available to the buyer to show them that you have taken care of the boat year after year. They will be more inclined to buy a boat that has been serviced properly.
Keep the price reasonable:
Most people want to get top dollar for their boat but you need to keep in mind what market value truly is. If your boat is priced too high, your chance of finding the right buyer decreases significantly. You need to search online for similar boats and determine an accurate price. If you want to price your boat higher than the others you need to make sure you have features that the other boats do not, otherwise it will be next to impossible for you to be competitive.
Make sure you and your boat are available:
In order to sell your boat you need to make yourself available. You should have a contact number listed on the ad that you can be reached at most of the time. You should also have the boat as close to you as possible in order to sell. If someone is interested in seeing the boat, then you need to be able to make arrangements to show them the boat within a reasonable length of time. If either yourself or the boat isn’t available for the
buyer to see within an acceptable amount of time the buyer will continue shopping and likely purchase something else that is available faster.
These are all important factors to keep in mind when purchasing a new boat or trying to sell yours, but always remember, if you ever have any questions, please contact a sales rep at Don Hyde Marine. We would be more than happy to help you in any way we can!
Cheers and happy boating in 2010!