Reduce the Cost of Ownership by Buying a Used Boat

If you're in the market for a boat, buying a used one can be a smart financial decision. Not only can you save thousands of dollars on the initial purchase price but owning a used boat can also save you money in the long run through lower insurance and upkeep costs. In this brief guide, we explore all the ways you can save money by buying a used boat.

Lower Sticker Price

First and foremost, the most obvious cost-saving benefit is the initial purchase price. A used boat has already undergone its initial depreciation period, which means that the value of the vessel has already dropped. This means that you can often purchase a pre-owned model for thousands of dollars less than you would pay for a brand-new one.

Spend Less on Insurance

Insurance costs for a used boat are also typically lower than for a new one. This is because the value of these vessels is lower, and the risk of damage or loss is also lower. This can result in significant savings on your insurance premiums.

Lower taxes

Additionally, this buying approach can also save you money on taxes. In some states, sales tax is only charged on the value of a used boat, not on the full sticker price. Furthermore, property tax is often based on the value of the vessel, so a used boat will typically have a lower property tax bill than a new one.

Ready to check out our selection of used boats for sale? Visit The Harbor in Branson, MO, today! We proudly serve all those in Springfield and Kansas City.