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0:00
I've been working on new and used boats for over 10 years, so I'm putting everything
0:04
that I can think of when it comes to comparing a brand new boat to a used boat into this video
0:10
This is a 2021, 23-foot Key West, which costs about $85,000 brand spanking new
0:18
And here is a 2016, which will run you about 45,000. And then here's a 1999, which is only going to set your wallet back by about 15,000
0:28
Now that's a pretty big spread, from 85 grand to 45,000, all the way down to only 15, in just a matter of 20 years
0:36
I mean, do boats really just fall to pieces in that short amount of time
0:40
Is it the reliability, the warranty, maybe some major repairs, or are boats just big piles of junk
0:46
Now I know that these are three separate styles and models of boats, so when it comes to the topic of the price and comparison, we'll just be comparing boats of the same length and similar style
0:56
Clearly, you can have a massive spread against different styles and models of boats, from a flats boat to a wakeboard boat
1:04
Obviously, you're going to have way different prices comparing these two types of boats used for two completely different things
1:10
But let's start this comparison off with one of the more obvious topics, being the major repairs that you can think about when it comes to an older boat
1:18
Oh, really? Wow. Well, that's unfortunate. When I say major repair, we're talking about boats that need a new transom. They have stringers
1:26
issues or they need something like a fuel tank to be replaced, which can turn into a super
1:31
expensive project, but we just covered the costs and the process of replacing the fuel tank
1:36
on a used boat in a previous video that you should check out if you missed
1:40
What if you miss? I won't. A brand new boat, by and large, is not going to need some kind of major repair to be done
1:48
to it, outside of maybe the 5% of the whole of every single new boat that is being made
1:53
that has some kind of a major issue. But those are exceptions, not the general rule, and that leads into the warranty subject
2:01
but we'll cover warranty in a little bit. Now, I would say that this also applies to the middle of the mark as well, like your 10 to 15-year-old boats
2:10
These boats usually won't have these major repairs needing to be done to them
2:14
but this is also that gray area that we can get into when it comes to the reasons people sell a boat
2:20
If you are buying a boat, though, it's like anything else. you want to inspect it before you buy it
2:26
You never want to just blindly buy anything, especially not a boat
2:30
Instead, you should hire a surveyor, depending on the amount of money you have on the line
2:35
or you should at the least do some research on inspecting a boat and watch our video on how to inspect a boat
2:41
and then inspect the boat yourself before buying it. If we're talking about having a bad fuel tank
2:46
a rotten transom, rotten stringers, or some major de-lamination issues, you are going to find these types of major reprimmonation
2:53
repairs in the inspection, giving you a warning of what you were getting yourself into
2:59
These are the types of repairs that 99% of the time will come out in the inspection, which
3:04
can set you back 10, 20, or 30 grand in some cases
3:08
These are the major repairs that begin to pop out on a boat depending on the brand, build
3:13
and of course, how the boat was taken care of during its life
3:16
But these issues will usually start to show up around the 25, 30 plus year mark in a boat's life
3:23
Which is one of those main reasons for such a drastic drop in a boat value after that 20 year anniversary mark Oh we went to zero EOO You may have noticed that we left out the topic of repowering the boat as a major repair issue
3:40
That's mainly because this will depend a lot on the engine and how it was taken care of during its life
3:45
But instead of going into that huge subject here, you can watch this playlist in the top
3:50
corner of the screen and we'll link to it in the description for videos diving into the inspections
3:55
life and care of a boat engine. A repower isn't really a major repair though
4:00
It isn't uncommon for a boat to get one, two, three, or even more engines put on it over its
4:06
entire life. I mean some charter boats are putting new engines on their boat every three years
4:12
And some of those super-sponsored charter boats are getting new engines every one or two years
4:17
which is why we aren't considering a repower to be a major repair for a boat
4:22
It's actually just something that gets done on the regular. You'll want to subscribe to the channel though because we'll actually be covering the
4:28
repower process in deep detail from what's included in the process to what it's going to cost
4:34
in our next video. Something that does tie into the major repair and is kind of its own subject
4:39
is going to be the structure of the boat, meaning how the boat was put together and the actual
4:45
quality of the boat build itself. There are many older boats 20 or 30 years old that were
4:51
made out of wood and it's this design that usually leads to these rockies. cotton stringers and transoms, as well as the fuel tanks and other issues that you might find
5:00
But this is when some investigation is going to need to be put into whatever boat you are looking at
5:05
As with most stuff, certain years, models, and types of boats are prone to certain issues
5:11
Take a Mako Center console. Many Makos back in the 80s and 90s had wood, transoms and stringers
5:16
But in that design of the build was actually where the stringers and the transom would butt up to each other and they would be glassed together
5:23
So, as with any wood cord boat, when one or the other would rot out, depending on who
5:28
all had been putting holes in the boat throughout the years, then that rot, a lot of times
5:33
would run from one to the other. If you had a rotten transom on a lot of models, you would also have rotten stringers, or
5:39
vice versa. But that's not to say anything bad about these boats, because they are actually one of
5:45
the more desired haul designs that are out there, even to this day
5:48
Because of how that boat haul performs in the water, it's a great boat to have, and even
5:53
to restore because of how nicely they ride. It's just an example of the boat structure and how that will play into the age and depreciation
6:00
of the boat. Being our next topic and just a plain simple fact that a boat, just like anything else that
6:06
has wheels or an engine, depreciates super quickly, based on the life expectancy of the actual
6:12
boat and all the components that are inside that boat. The short and simple description is that depreciation is an accounting term or factor that
6:21
is used to factor in the value of an asset. or a company vehicle, and the general decrease in the value of a boat is usually seven to ten years
6:30
So from the time that it is new to the time it's about seven to ten years old, the boat's value is pretty much fully depreciated
6:37
from an accounting standpoint that is. This actually leads us into another factor when comparing a brand new boat to a midlife boat down to the 20 or 30-year-old boat
6:47
and why the price goes down so quickly being the warranty factor that we touched on earlier
6:53
Pretty much every single boat comes with some kind of a warranty when they are brand new For most boats that warranty is a 10 warranty Then for some others that is only going to be a five warranty which does add a lot of value and comfort to the
7:07
ownership and value aspect of a boat. Now, what is covered by that warranty is a completely different
7:12
subject in and of itself. But by and large, the warranty is just going to cover the whole of the
7:18
boat and the structured components of the boat. Things like the teetop, an engine bracket
7:23
or manufactured doors, pretty much anything that, that the boat builder has built, but most of the boat brands don't cover any of the components
7:31
that are inside the boat. The engine manufacturer usually covers the engine in its components, and all the other stuff
7:43
like pumps, electronics, cushions, and all of those kinds of things are not covered by the
7:48
boat manufacturer's warranty. Some of the components have their own warranty, but by and large the components in the
7:54
boat don't have any warranty that comes from the boat builder, which is why it's always called a
7:59
limited warranty. I do think that some of the boat builders will cover some of that stuff for like
8:04
one, two, or maybe three years, but in all honesty, it's brand new stuff. And you usually don't
8:10
have issues for a few years with stuff like that. Giving an advantage and the price value of the new
8:15
boat over the used boat. Now this leads us into the next discussion of these parts that are in the
8:21
boat. Many people look at a used boat, whether that be 10, 15, 20, or even more years
8:27
you'll be thinking that you're going to be dealing with all these old parts that are on their
8:31
last leg. Though a lot of boaters have come to realize that in reality, the harshness of the
8:36
boating environment where everything is constantly either wet or living in a moisture-rich
8:41
environment and multiplied even more when close to salt water, where the moist air is just so
8:46
salty that it's even harsher, that a lot of these components will randomly fail at any time
8:52
between the pounding that they take from the boat pushing through the water to the environmental
8:56
abuse that they have to endure. Yes, the 20-year-old boat is going to have a higher chance of
9:01
dealing with miscellaneous component failures compared to the new boat, but it's not going to be
9:06
as much as you would think, or as bad as you might think. Again, depending on the care of the boat
9:11
and who has been in it working on stuff throughout the years of that boat's life. This is our next
9:16
subject though, and the question of does a used boat have a more legitimate frequency
9:21
and repairs that need to be made on the boat compared to the new boat
9:25
And my answer would be yes for the 20 year old boat and no for the 10 year old boat
9:30
Of course, being based on how well and what kind of care the boat is received throughout
9:34
its life. The 20 year old boat is going to be needing more frequent repairs and or preventative maintenance
9:40
or parts replacements being done to it. This is because we are talking about a 20 year old steering system
9:46
20-year-old hydraulic hoses, water lines, fuel lines, other plumbing and fittings. You've got your through halls, the teetop canvas, strings, and other what I would call major
9:58
components on the boat. Drain hoses for live wells or discharge hoses for bilge pumps get brittle, stiff, and begin
10:04
to break. So when we compare that to the brand new or 10-year-old boat, you're going to be dealing
10:10
with these components on a really random basis. So the frequency of repairs or necessity of having to deal with you, we're going to deal with you
10:16
with something is going to be a lot more with the older boat, which will bring that value
10:21
of the boat down and or the desire for the boat also depending on who it is that is looking at it I got a call about a boat C 50 I want you guys opinion on Now I want to cover the reliability factor for the age spectrum of the boats but we also haven talked about the cosmetic difference yet
10:39
either, and that is something that adds a big change here when comparing
10:43
boats of different ages. These brand-new boats are going to have the
10:46
freshly waxed, brand-new boat shine to them, when the gunnels look like
10:51
a mirror that you could use to brush your teeth in. And who doesn't like shiny stuff
10:55
Whereas even the 10-year-old boat, if it wasn't protected against the sun
10:59
or wax throughout its life, is going to show fading or even some oxygenization
11:04
Then your 15, 20 year old boat is just going to have even more sun fading to it
11:09
This appearance or visual difference in the boats is going to make a huge difference to a lot of people
11:15
But you've also got to factor in the aluminum and metal components as well, like a teetop
11:20
If the aluminum is left long enough being exposed to the elements
11:24
and never gets any wax put on it, it will begin to pit, once the pitting starts, there's really no way to restore it. That pitting is going to be there
11:32
forever. You can slow it down, but it is still going to be there. The same thing comes into
11:37
effect when we're talking about powder coating on the boat. Powder coating has become super popular
11:42
and it looks amazing on brand new boats, which brings that price up. But if we look at the powder
11:48
coating on that 15 to 20 year old boat, a lot of times you're going to find it's chipping off
11:53
and bubbling. Because once you get a scratch or a nick in the paint, then the air
11:57
and water will get behind it and make it bubble up and chip off. And it's impossible to actually
12:02
use the boat and not end up getting some scratches and nicks in the powder coating. The only fix
12:07
for this kind of thing is to remove the component, sandblast it, and re-powder coat it, which can be a super
12:13
expensive repair. The same goes for rusting components, or torn upholstery seeds, canvases, or other
12:20
items like that. So the cosmetic factor, which will be based on the care of the boat, is a major
12:26
decider in the value comparison of the brand new boat versus the used boat
12:31
So do all of these topics and differences make the new boat more reliable than the used
12:35
boat, regardless of whether it is 10, 15, 20 years or even older
12:40
The real answer is going to be no, it doesn't. When it comes to the topic of reliability, we need to think about what does reliable really mean
12:49
To me, reliable really means that you are actually going to get out on the water and have
12:54
the ability to get back to the water. to the dock or the ramp without sinking
12:59
If you are going to be left stranded on the water or in danger of sinking, then that is what we would
13:04
call unreliable. So reliability ultimately has to do with the care and the maintenance of your boat and engine
13:11
The boat's reliability deals with making sure that there isn't any leak in the boat and
13:15
that it's structurally intact, where you've got a good fuel supply to the engine and then
13:20
that you've got a good reliable engine on the boat. Making reliability really have to deal with your engine
13:26
more than anything else. On the new or used boat, a failed washdown pump or light or radio
13:31
or electronic doesn't make the boat unreliable. It just makes it a boat that you have to deal with
13:37
when you get back off the water. But you can learn how to fix any of those kinds of issues on your
13:42
boat by joining our boating academy at born againboating.com. And it's also why we'll be covering
13:48
this topic of the engine, putting a new engine on your boat, what that costs, what it entails
13:53
and this entire topic on our next video. So check out this playlist for those videos
13:58
and make sure you are subscribed to the channel
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