How to buy a boat
Buying a boat is one of the most important experiences in a sailor's life. In this guide to buy a boat we help you step by step to search, find and organize the purchase of your new boat.
It does not matter if it is your first boat or if you are already an experienced sailor in search of a larger, more comfortable or faster boat. The steps for you to buy the best boat for you are the same and although many times you get carried away by the excitement when visiting a nautical show, or while diving in the offer of occasional boats online, it is best to consider the purchase process of a boat methodically and use the reason, in the end the emotion will always be assured when you are on board your new boat.
Before starting, remember that you can consider the possibility of using a nautical broker to advise you during the whole process, mainly if you are going to spend a considerable amount of money. The commission that you will have to pay will be fully justified since in the end it is possible that you save both time and money, gaining in tranquility.
How to buy a boat in 10 easy steps:
- Define your budget
- Choose the best boat for you
- Search your boat
- Consultation specialized portals in the sale of boats
- Visit the ship
- Take the navigation test
- Negotiate the price of the boat
- Prepare the contract and documents
- Pay taxes and change ownership
- Hire the mandatory liability insurance
source: Buying Boat
Define your budget
The cost of the boat is only one of the items that you will take into account when defining the budget to buy your new boat. If it's your first boat, talk to friends, acquaintances or a broker to get an idea of the costs of having a boat . You will see that the fuel, the candles (if it is the case), the maintenance, the mooring, the insurance, the winter storage, etc. they are expenses that add up a lot. These expenses have to do with the age of the ship, its model, length and even with the geographical area.
A new boat implies less maintenance costs but for the same length the price will be higher and for example, the costs in mooring, winter storage, fuel, will be identical to that of a second-hand boat. Make your accounts and decide your priorities. When you have an idea of the budget that you can spend and the items included, you will know how to define the price range of the boat you are going to buy.
Tip: Boat sellers know how to identify a buyer who is not aware of the costs associated with a ship, and even if they do not do it to hurt you, they may end up influencing your decisions more than you think, so devote your time to the Prepare your budget and review it when you decide exactly which boat you want to buy.
Tip: Boat sellers know how to identify a buyer who is not aware of the costs associated with a ship, and even if they do not do it to hurt you, they may end up influencing your decisions more than you think, so devote your time to the Prepare your budget and review it when you decide exactly which boat you want to buy.
Choose the best boat for you
Choosing the type of boat that best suits your needs is as important as the budget. If it's your first boat maybe you have not decided yet if you prefer sailing or motor. This would be the first decision: Autonomy and silence or speed and simplicity in navigation? How about combining everything in a motorsailer? Monohull or catamaran? Classic wooden boat if you like to spend long hours doing DIY, fishing boat if you are fond of fishing, sports boat to enjoy water sports, family cruise to do some crossings, weekend boat ... Each boat has its uses and it is adapted to certain navigation programs. Do not forget that some boats combine several possibilities, for example, there are many fishing boats that also serve for family cruises.
If what you are looking for is not your first boat, you may only have to decide for more length, more habitability or more stability. In any case, do not forget that the type of boat you choose and the budget are related. Another aspect that you must take into account is the type of nautical qualification required by the boat you have chosen. It is time to start a course to get it, if it is the case.
Tip : If you still have doubts about the type of boat that best suits your needs, talk to a broker who will know how to help you identify it. If you still have doubts, how about renting a boat equal or close to the one that seems most appropriate to see if you really like it? There are many boat fairs of second hand or in stock, where you can get on board some boats without the formalities of a boat show.
Nowadays your computer or mobile phone is an open window to the pleasure craft market and you have an enormous amount of options at your disposal. Each brand has its own site and each distributor too, so you can familiarize yourself with your favorite models and get to know them thoroughly without much effort. However, if you are looking for a particular boat in a price range and length, you will notice that the supply of quality boats that meet your specific requirements is not so great, mainly in the second-hand market, since good boats They tend to sell very fast.
Searching on a boat sale website that combines new and used boats, ads from professionals and individuals and where you can refine your searches can be a great help. For example, CosasDeBarcos allows you to search by brand, but also by model, price range and year of construction, among other criteria, so you do not waste time with what does not meet your requirements. Remember all the previous work and do not get away from your beacons.
Tip : By registering in CosasDeBarcos you can create your list of preferred boats so you can always have it accessible from your computer or mobile. If you find boats that are very close to your budget you can ask to be notified if they go down in price and your list will be updated automatically.
Consultation specialized portals in the sale of boats
Make a list of priorities, that is, a list with the essential characteristics that the boat you want must have. It adds other desirable characteristics but, on the other hand, they are not fundamental. This list will help you rule out options. Look at the ads and read all the available information. Many of the ads that you will find are from brokers so they are very complete and you will be able to verify if the boats have what you are looking for or not. Analyze well the photos and the general condition of the ship; Make sure that the photos are indeed of the boat for sale and not pictures of shipyard or when the boat was new. Do not let yourself be influenced only by the aesthetic aspects, neither for the good nor the bad: do not overlook a good boat just because you do not like your cushions.
Your goal now is to get to a list with your favorite boats, your shortlist, which will include those that comply with all the essential characteristics and some of the desirable ones and then decide what additional information you are going to ask and which ones you want to visit.
Trick : The list of priorities is very useful but we must also admit that a little spontaneity can play in your favor, for example: even if a boat does not have everything you want, your price may leave enough room to put it completely to your taste. Keep that in mind.
Visit the ship
If you are an experienced navigator or you are going to visit your first ship, it is always good to do it with someone who can advise you. It can be a broker or a friend who knows about boats; someone you trust First impressions count, but it is more important to be objective and methodical. Check the condition of the interior of the ship: the carpentry, the electrical installation, the electronics, the batteries, the engine, the water and fuel tanks, the bilge, bathrooms, kitchen, cabins etc ... Look for signs of humidity, condensation, if the doors open and close well. Take your notes of what you think needs repair or update to budget; Knowing these costs will help you in the negotiation phase.
If you have been satisfied you can stay to inspect the hull and its components, which requires taking the boat out of the water; it is a cost that you must cover but that you can negotiate so that it is subtracted from the final price of the ship, if the purchase comes to fruition.
Be courteous and try to always maintain cordiality without being too critical of the defects of the ship. Everything can be arranged and negotiated and the defects can play in your favor, remember that there are sellers who like their boat to be appreciated by their next owners and will be more willing to negotiate if there is empathy.
Tip : It is useful to visit owners' forums to find out about common problems in the type of ship you are going to visit. With this information in hand you will be able to ask more informed questions during the boat visit to better know the history of breakdowns and problems.
Tip : It is useful to visit owners' forums to find out about common problems in the type of ship you are going to visit. With this information in hand you will be able to ask more informed questions during the boat visit to better know the history of breakdowns and problems.
More information: How to avoid online fraud when buying a boat
Source : Buying Boat GUIDE
The navigation test
After visiting the ship and checking that everything is in order and that the ship complies with the list of priorities that you have prepared, it is time to take the boat out to sail.
For both the visit and the navigation test, make sure you have enough time for you to do all the necessary checks. Having someone you trust on board, who can assess better than the behavior of the boat sailing is essential. Also take your notes to remember some detail or to ask for estimates of an arrangement or change that you think is necessary.
Trick : Another way to achieve more peace of mind is to hire a boss so that the test is as professional as possible and nothing is out of scrutiny. For more information about how to do the navigation test, click here .
In some cases it is useful to request a pre-purchase inspectionin which an expert will make all the necessary checks to know exactly the condition and condition of the boat. The inspection report and its conclusions will be very useful in the negotiation phase.
Trick : Another way to achieve more peace of mind is to hire a boss so that the test is as professional as possible and nothing is out of scrutiny. For more information about how to do the navigation test, click here .
In some cases it is useful to request a pre-purchase inspectionin which an expert will make all the necessary checks to know exactly the condition and condition of the boat. The inspection report and its conclusions will be very useful in the negotiation phase.
Negotiate the price of the boat
The time has come to negotiate. You have the budgets of everything that will have to be replaced or fixed on one side and the other, the prices of similar boats and that you have consulted on portals such as CosasDeBarcos or YachtWorld . The fundamental thing is to pay no more than the market value of the boat and get the seller to accept a reduction in the sale price equivalent to the expenses that you will have to bear to bring the boat up to date. But be reasonable.
Define the range of prices that you are willing to pay and the form of payment you are interested in, use carefully the information you have collected during the visit and the navigation test and, if applicable, the report of the expert. Demonstrate seriousness and remember that the seller may have another potential buyer with whom the negotiation goes better. The negotiation can be long, since the seller can suggest making the repairs himself and maintaining the sale price or proposing to pay for the repairs by half. Keep calm and remember that at this moment you are very close to achieving your goal, which is better than being intransigent and having to go back to the beginning of the process. However, do not yield too much or feel pressured to agree deadlines or conditions that you do not feel comfortable with.
Trick: If the ship has a lot of electronics, but you are going to remove it to put everything new, ask the seller what discount it would cost; You can also do it with other components that are not fundamental for you or that you prefer to replace, such as the auxiliary or an outboard motor.
Define the range of prices that you are willing to pay and the form of payment you are interested in, use carefully the information you have collected during the visit and the navigation test and, if applicable, the report of the expert. Demonstrate seriousness and remember that the seller may have another potential buyer with whom the negotiation goes better. The negotiation can be long, since the seller can suggest making the repairs himself and maintaining the sale price or proposing to pay for the repairs by half. Keep calm and remember that at this moment you are very close to achieving your goal, which is better than being intransigent and having to go back to the beginning of the process. However, do not yield too much or feel pressured to agree deadlines or conditions that you do not feel comfortable with.
Trick: If the ship has a lot of electronics, but you are going to remove it to put everything new, ask the seller what discount it would cost; You can also do it with other components that are not fundamental for you or that you prefer to replace, such as the auxiliary or an outboard motor.
Prepare the contract and documents
If everything goes well with the negotiation and finally there is agreement on the purchase price of the boat and payment method, a contract must be drawn up - in this link you can download a model of purchase-sale contract that the National Association of Nautical Companies ( ANEN) and the Association of Recreational Navigators (ANAVRE) have in their sites for this purpose. You can also consult a nautical agency that deals with the entire process of formalizing the transaction.
If you have taken this whole process with the help of a broker, he will take care of both the contract and all the ship's documentation is complete and up-to-date. It will also deal with the taxes that apply. You can consult a lawyer to advise you or write a specific contract for the purchase of your boat.
This is the documentation that the seller must provide so that everything remains in order and so you can do the procedures at the end of the purchase process:
This is the documentation that the seller must provide so that everything remains in order and so you can do the procedures at the end of the purchase process:
Seat sheet (issued by Maritime Captaincy).
CE Marking and / or Certificate of Navigability.
Navigation license or dispatch and manning role and Technical Inspection of Vessels Report (ITB).
Certificate of suitability for the installation of radio equipment.
Application for Installation Authorization and / or dismantling of radio equipment.
Invoices of equipment, engines, auxiliary.
Owner's manual and other equipment manuals on board.
Copy of the seller's ID.
Permit of circulation of the trailer, if it is the case.
CE Marking and / or Certificate of Navigability.
Navigation license or dispatch and manning role and Technical Inspection of Vessels Report (ITB).
Certificate of suitability for the installation of radio equipment.
Application for Installation Authorization and / or dismantling of radio equipment.
Invoices of equipment, engines, auxiliary.
Owner's manual and other equipment manuals on board.
Copy of the seller's ID.
Permit of circulation of the trailer, if it is the case.
Tip: If you have done a pre-purchase inspection, the report of the expert will help you in the preparation of a list that reflects the status of the boat and its equipment to attach to the contract. If not, make a detailed inventory of the boat and the equipment that is the object of the sale.
Pay taxes and change ownership
source : Boat inspection
The sale of a boat between individuals leads to the payment of the ITP - Transfer Tax, which is basically the way to legalize the purchase-sale contract giving rise to the change of ownership; VAT applies only if you buy the boat from an agent or broker. In this case the invoice includes the VAT and the liquidation is done by the seller, as in any other transaction.
In the case of the ITP, you will pay 4% (8% for boats over eight meters in length) of the price stipulated in the contract, although the tax rate may vary according to the Autonomous Community (CA). The model to be filled is usually the 620 , but it can also vary according to the CA; you can do it online and pay the fee in the collaborating banks or process it and pay it personally in the tax office of your fiscal domicile. After payment, you must stamp the original of the purchase-sale contract and make a copy to present in Captaincy, where you will change the property. Make sure you have photocopies of all the documents you already have in your possession.
Fill this form in duplicate to request the transfer of ownership of the boat and present it in the Captaincy accompanied by the documentation listed on the form itself. The name change of the ship is also processed in Captaincy and you must pay the corresponding fee.
Now it's your turn to fill in the model 790 code 025 for the payment of the registration fee of ships and shipping companies (by inscription on the seat sheet); You pay at the bank or you process and pay this online registration fee .
The registration process may take a few weeks but at the time of the application they will give you the corresponding flyer, so if you have your nautical certificate and the insurance of the boat made, you can take the boat to sail whenever you want!
Consult the page of the Ministry of Development on purchase and sale of pleasure boats for more details and / or updates.
The registration process may take a few weeks but at the time of the application they will give you the corresponding flyer, so if you have your nautical certificate and the insurance of the boat made, you can take the boat to sail whenever you want!
Consult the page of the Ministry of Development on purchase and sale of pleasure boats for more details and / or updates.
Note: Keep in mind the list of Average Prices of Motorboats used during the first year after registration , if the price agreed in the contract is lower than the price of the boat and the engine as they appear in this list (from page 705 for boats and 767 for engines), the corresponding taxes will be based on the list price and not the contract price. For boats with more than 10 years the base price is the contract price.
Hire the mandatory liability insurance
Source: boat insurance
The civil liability insurance for boats is mandatory in Spain and covers the risks of death or bodily injury to third parties, material damage to third parties, economic losses that may be caused to third parties and damage to ships by collision or without contact.
These coverages can be expanded with voluntary insurance. There are policies with a wide variety of coverage but the most common are: own damages, occupants, assistance in navigation, assistance in travel, claim of damages to third parties and legal defense.
These coverages can be expanded with voluntary insurance. There are policies with a wide variety of coverage but the most common are: own damages, occupants, assistance in navigation, assistance in travel, claim of damages to third parties and legal defense.
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