Tips for Buying a Boat From Craigslist
Buying a boat from Craigslist can be scary.. Everyone these days seems to know someone who knows someone who's been scammed or spammed through Craigslist. However, that shouldn't be a deterrent as Craigslist can actually be a very resourceful and cheap (FREE!) way to sell and purchase a boat. That being said, there are some things you should know going into it...
Here are the are the initial steps needed to take before actually going on Craigslist:
1. Decide what kind of boat you even want! Don't browse classifieds without a basic idea of what you are looking for or your will get caught up in the glamor of a boat, rather than the practicality of it. What kind of boat? How many people should it hold? Is it for fishing or just cruising? Based on where you will store it and how you will tow it, how big or small should it be? Etc... There are so many options out there, you should have a basic idea of what you are looking for before you even open Craigslist.
2. Look up prices and read reviews of boats that you are interested in. You can go to sites such as nadaguides.com, boattest.com, discoverboating.com, and boattrader.com for information and a general idea. The will give you a heads up when it comes to pricing and reliability of different makes and models.
3. If you are going to need financing for your boat, it would be wise to check your credit history before applying for a loan. Take advantage of one of the multiple free credit score websites that allow you to check your credit history. Since you are buying the boat on Craigslist, your loan will come from a third party. Make sure you apply for your loan and get your financing in order before talking to sellers. If you find the boat you want but do not have the financing in order the seller may not be willing to wait for it and the boat might be gone before your financing is approved.
4. Buy an subscription to a boat history site (My favorite is http://www.boathistoryreport.com), similar to CARFAX, that will show you previous reported damage and liens on the boat, as well as recall and warranty information which you should be aware of. For $44.99 you can run unlimited HIN's of boats you are looking at.
Once you have completed these steps you should have compiled a list of boat models and years with a price range you are comfortable with. You shouldn't necessarily limit yourself to one make or model because you are limiting your chances at a good deal. You can definitely have a favorite but it is always good to have options.
If you have all of the information listed above you are ready to start searching Craigslist for boats. Log on to your local Craigslist (you can also search further locations but traveling far might not be worth it if you don't end up buying that boat). You will find boats under the "For Sale" section and "boats"
I suggest searching only posts with pictures. Also, if you are able to purchase from a dealer, it might be wise as they usually offer some sort of limited service warranties. If there are no boats you are interested in you will have to expand your search to other Craigslist locations, but don't go too far.
Now you should be able to compile a good list of boats you could be interested in. Go through each one and compare it to the average prices from your research and see if you can find a good deal.
Each will have different amenities and engine hours and other variables. When you have some you are interested in, run their HIN's through your boat history account to make sure the report doesn't show any incidents that you are not comfortable with. Clean reports are always the goal.
When you find the one that you are interested in enough to buy, set up a test drive. Make sure you spend a decent amount of time with the motor running near full speed to make sure there are no problems. You also, (especially if the boat is over 35ft) want to get a marine surveyor to inspect the boat. They can find problems and flaws that the average consumer may not notice. If there surveyor finds something minor it may be a bargaining chip to negotiate a lower price. If he finds something major you may decide to pass on the boat. If you aren't able to see the boat in person, proceed with caution!
If you have followed all these steps and are still feeling comfortable, make an offer on the boat. Always make sure you use cashiers checks or money orders to pay for a boat. Most importantly, ENJOY YOUR NEW BOAT!!
Here are the are the initial steps needed to take before actually going on Craigslist:
1. Decide what kind of boat you even want! Don't browse classifieds without a basic idea of what you are looking for or your will get caught up in the glamor of a boat, rather than the practicality of it. What kind of boat? How many people should it hold? Is it for fishing or just cruising? Based on where you will store it and how you will tow it, how big or small should it be? Etc... There are so many options out there, you should have a basic idea of what you are looking for before you even open Craigslist.
2. Look up prices and read reviews of boats that you are interested in. You can go to sites such as nadaguides.com, boattest.com, discoverboating.com, and boattrader.com for information and a general idea. The will give you a heads up when it comes to pricing and reliability of different makes and models.
3. If you are going to need financing for your boat, it would be wise to check your credit history before applying for a loan. Take advantage of one of the multiple free credit score websites that allow you to check your credit history. Since you are buying the boat on Craigslist, your loan will come from a third party. Make sure you apply for your loan and get your financing in order before talking to sellers. If you find the boat you want but do not have the financing in order the seller may not be willing to wait for it and the boat might be gone before your financing is approved.
4. Buy an subscription to a boat history site (My favorite is http://www.boathistoryreport.com), similar to CARFAX, that will show you previous reported damage and liens on the boat, as well as recall and warranty information which you should be aware of. For $44.99 you can run unlimited HIN's of boats you are looking at.
Once you have completed these steps you should have compiled a list of boat models and years with a price range you are comfortable with. You shouldn't necessarily limit yourself to one make or model because you are limiting your chances at a good deal. You can definitely have a favorite but it is always good to have options.
If you have all of the information listed above you are ready to start searching Craigslist for boats. Log on to your local Craigslist (you can also search further locations but traveling far might not be worth it if you don't end up buying that boat). You will find boats under the "For Sale" section and "boats"
I suggest searching only posts with pictures. Also, if you are able to purchase from a dealer, it might be wise as they usually offer some sort of limited service warranties. If there are no boats you are interested in you will have to expand your search to other Craigslist locations, but don't go too far.
Now you should be able to compile a good list of boats you could be interested in. Go through each one and compare it to the average prices from your research and see if you can find a good deal.
Each will have different amenities and engine hours and other variables. When you have some you are interested in, run their HIN's through your boat history account to make sure the report doesn't show any incidents that you are not comfortable with. Clean reports are always the goal.
When you find the one that you are interested in enough to buy, set up a test drive. Make sure you spend a decent amount of time with the motor running near full speed to make sure there are no problems. You also, (especially if the boat is over 35ft) want to get a marine surveyor to inspect the boat. They can find problems and flaws that the average consumer may not notice. If there surveyor finds something minor it may be a bargaining chip to negotiate a lower price. If he finds something major you may decide to pass on the boat. If you aren't able to see the boat in person, proceed with caution!
If you have followed all these steps and are still feeling comfortable, make an offer on the boat. Always make sure you use cashiers checks or money orders to pay for a boat. Most importantly, ENJOY YOUR NEW BOAT!!
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