EVALUATING USED BOATS

If Santa didn’t bring you a boat this year, you may be looking to purchase a boat in the new year. But have you considered buying used instead of new? Just like cars, new boats take a huge depreciation hit as soon as you sign the paperwork. A used boat bypasses that hit in value. However, there are some things you need to look out for when evaluating a used boat.

While many used boats are for sale simply because of finances, damage can be hiding underneath the surface. Even those experienced with sailing don’t have the knowledge to spot all the possible defects. Accordingly, hiring a marine surveyor to evaluate your purchase is a good idea. Their evaluation fee could save you thousands of dollars in the long run.

If you don’t have the extra money for an inspection or if the boat isn’t worth a lot of money, you might want to risk evaluating it yourself. In that case, there are a few things you can do to better protect yourself. Variations in color and texture of the boat’s materials are a red flag. These variations often indicate repairs. Any new items within the boat such as carpet or electronics could also signal repair work. Many owners replace these items after water damage but fail to disclose this to new buyers. Make sure to carefully inspect interior elements such as hardware and system components for hidden corrosion.

Whether you’re storing your boat, RV, or other large items, Big Item Storage can accommodate your needs. Both our Rockport and Corpus Christi locations are clean and secure. For more information or to reserve your spot, check out our website here or call us at 361-937-2423 (Corpus) or 361-238-7177 (Rockport).

TIPS FOR PURCHASING A USED BOAT

Used boats can be a great investment. Savvy boat operators who can invest in upgrades and repairs can often find deals. Many insurance companies will sell used boats to recoup losses. When boat owners cannot pay their payments, either the owner or their finance company may be looking to get the boat sold quickly. But while there is a great deal of opportunity, there is also a lot of risk in purchasing a used boat. Here are a few things to look for in investigating a potential purchase.

Your best course of action is always going to be hiring a marine surveyor to evaluate the boat. No matter how experienced you are, you do not have the training to spot many defects. A boat can look fantastic on the outside but be hiding damage. Surveyors can also spot repair work that wasn’t disclosed.

If you do decide to inspect the boat yourself, here are a few things to look for. The exterior color and interior wood are hard to match after repairs, so look for any variations in color and texture. Another red flag is any update to things like cushions or carpet. This can signal repairs made to the structure. New electronics can also indicate replacement due to sinking or heavy water damage. You’ll also notice rust on interior hardware and electrical system corrosion in water-damaged boats.

Whether you’re storing your boat, RV, or other large items, Big Item Storage can accommodate your needs. Both our Rockport and Corpus Christi locations are clean and secure. For more information or to reserve your spot, check out our website here or call us at 361-937-2423 (Corpus) or 361-238-7177 (Rockport).

TIPS FOR BUYING A STORM-DAMAGED BOAT

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With hurricane Harvey having devastated the Gulf Coast, many insurance companies will be selling damaged boats to the public to recoup payouts. Some boat owners may also want to sell to cover repairs to their home or business or because they’re relocating away from the coast. For savvy boat operators who have the ability and money to invest in repairs, these damaged boats can potentially prove to be a good deal. However, they can easily become money pits. Here are a few things to look for if you’re evaluating whether to purchase a boat damaged by Harvey.

Insurance companies declare boats a Constructive Total Loss for two reasons: the cost to repair the damage to the boat would exceed its value or the owner did not insure it for much money, so it’s more cost-effective to pay off the policy. Owners selling directly may act in good faith and disclose any damage, or they may fail to disclose and perform patchy repairs that wouldn’t pass a closer inspection.

To determine whether purchasing a boat is worth it, hiring a marine surveyor to evaluate the boat is the best option. Close inspection can reveal repair work that wasn’t disclosed. Pay attention to variations in the exterior color since it’s hard to match after repairs, same with interior wood work. Signs of updating soft materials, such as new cushions or carpet, are also red flags.

If the boat sank, there will likely be rust on hinges and other interior hardware, as well as corrosion in the electrical system. New electronics can indicate a replacement to cover up sinking. Submerged engines can possibly be saved if dealt with immediately after the storm, but that isn’t likely after a hurricane.

If you choose to purchase a storm-damaged boat, or any used boat for that matter, careful inspection is key. Hiring an expert to evaluate the boat is well worth the money so you don’t get stuck with a bad investment.

Whether you’re storing your boat, RV, or other large items, Big Item Storage can accommodate your needs. Both our Rockport and Corpus Christi locations are clean and secure. For more information or to reserve your spot, check out our website here or call us at 361-937-2423 (Corpus) or 361-238-7177 (Rockport).