What is the oldest boat you should buy?
It’s easy to get off track when you only pay attention to price versus focusing on the type of boat you’d like to buy. Your next step is to pay attention to the used boat’s age and engine hours, we recommend looking for used boats that are under 10 years old with less than 500 hours logged. Today, many lenders will finance a boat for 20 years. Obviously, that can bring down your monthly payments quite a bit; you can use our Boat Loan Calculator to figure out exactly how the monthly payments would differ between a 10-year term and a 20-year boat loan.
What is the most expensive part of owning a boat?
Storage Costs and Docking Fees Proper storage is a crucial ongoing cost of boat ownership. Monthly storage fees vary depending on location, type of storage, and the size of your boat, and in some states or municipalities, boats must either be stored indoors or always stay on the water. Your major costs will be yacht crew, dockage, fuel, and maintenance. Please understand everything is variable based on those decisions plus the age of your yacht. Owners can expect to spend about 10-15% of the purchase price annually on operating and maintaining a yacht.