Affordable Boating. It’s a common misconception to consider “boat ownership” an over-the-top, luxurious endeavor. The truth is that just like automobiles, you’re allowed an extensive range of options when choosing a boat within your budget. Not to mention, the cost associated with boat maintenance isn’t as much as most people initially assume. On top of it, people neglect that there are also several ways to make a side income from your boat if you want to make the most out of your investment.
However, if you’re here to know how to boat on a budget and keep your costs in check, we have you covered. In this article, we’re sharing the best affordable boating tips to ensure you don’t overspend on unnecessary things from the start!
1- Save to Pay in Cash and Skip Loan Interest Rates
If you have been saving for your boat for some time now and have enough to pay for it in cash, it’s best not to take out a loan when you don’t have any emergency needs. This saves you the hassle of making monthly payments to the dealer with interest rate charges.
2- Finance Your Boat via Specialized Marine Lender
On the contrary, if you need to take out a loan to invest in your boat, your best bet would be to talk it out with a specialized marine lender. They can offer you the best deals so you can finance your boat within a budget when you have limited resources.
3- Know What You Want
A common mistake that costs people big time when buying a boat is choosing the wrong type of watercraft. You have to consider the number of people you would be taking out with you and the purpose of your boat to contemplate the size and model of a vessel that’s best for you. Otherwise, you may end up paying monthly maintenance costs for a boat that only sits around in the storage, gathering dust.
3- Visit the Used Boat Option
You can also save a good chunk of money by opting for a pre-loved boat. As long as you know how to investigate a used boat and review its background, or you know someone who can do it for you, this can be a practical and budget-friendly investment for you.
4- Consider Attending a Boat Show
Attending a boat show is like shopping at a boat supermarket where you can get the best deals on multiple kinds of boats, both used and unused. So before you look elsewhere, it’s best to evaluate your options at a boat show.
5- Do Your Own Maintenance Where Possible
Not to mention, if you’re naturally handy with mechanical jobs and have a positive experience in automobiles and home repairs, you can do a lot of your boat’s maintenance work by yourself. However, it’s best not to tackle the complex jobs yourself since that can cost you much more if you end up invalidating a potential warranty or doing some other physical damage to your boat.
6- Know Your Storage Options
Lastly, it’s best to store your boat in a home shed if you have one. If not, you can always have it built for this specific purpose. This can save you a lot of money instead of paying monthly storage charges at the marina.
By keeping these six affordable boating tips in mind, you can boat on a budget and save yourself from burning an undesired boat-size hole in your wallet.