Minimise Risk And Consider The Financials

Avoid purchasing disasters and consider your finance options before committing to the purchase or sale of a boat. Minimise your financial risk by doing your research. If you are the buyer check the seller is legitimate, and visa-versa if you are the seller. Never commit to a blind sale for example.

Cash often works out best for everyone despite the fact this often seems to be the most risky way of paying for your new or second hand boat.  Bankers Drafts and cheques are not as secure methods of payment as they used to be.

When buying a boat, make sure you get a survey done and that there is no outstanding finance on the boat. Check out boat mortgages and expect to have to pay a non-refundable deposit. Dealers and brokers may be able to introduce you to alternative sources of borrowing.