When is the Best Time to Buy a Boat?

Buying a boat can unlock a world of adventure, freedom and fun with the people you love most. However, as with all major financial decisions, a little research and planning could help you find the best deal for your budget. Because boating is a seasonal sport, the market fluctuates throughout the year.

Timing your purchase may make all the difference when it comes to your options. So, when is the best time to buy a boat of your own? Here’s what to consider to help you navigate the big decision.

Season makes a big difference

Generally, boating season starts in the spring and ends in the fall, though each region’s climate may influence the exact dates. If you live in an area with harsh winters, like Minnesota, your boating season may be significantly shorter than for someone living in San Diego or Florida.

Timing your boat purchase to a specific point in the season can help you find the right fit for your needs and your budget.

Buying a boat in the off-season

If you know what you’re looking for and have done your homework, the off-season can be a smart time to buy.

As the season winds down, fewer people tend to buy boats. Dealers and owners may be eager to move inventory off their lots at that time to avoid paying for boat storage over colder months. Many boat owners also put off maintenance until the end of the season.

By shopping in the fall, you may be able to land some end-of-season discounts or promotions. However, you might incur extra expenses to cover storage and maintenance yourself.

As winter begins, you may continue to see prices go down, especially on used boats, as owners make room for new models. Your selection may be slimmer in wintertime, so fall may be a better option if you have specific features in mind.

Buying a boat at the start of the season

While you might get a great deal on a boat in the fall or winter, you may not be able to find the latest models until boating season officially begins.

Typically, dealers introduce new boat models in late spring or early summer. That means you might find dealer incentives on the latest models or score something brand new at a lower introductory price.

Shorter seasons might mean shorter windows to buy new models. If you live in a colder region, you might want to establish a clear idea of the features you’re looking for, your budget and your financing options before you start shopping, so you can be ready to jump on the right purchase.

Consider the used boat market

One of the biggest factors affecting the best time to buy is whether you’re looking at a new or used boat. As a result of the COVID-19 pandemic, record numbers of families purchased boats in 2021.¹ However, since then, the used boat market in particular has flourished² as newcomers to the hobby either realized it wasn’t for them or upgraded their watercraft.

Finding a boat dealership

You may want to try shopping local dealers first, then expand your search to nearby areas and the closest major city for more options if you can’t find what you’re looking for. Check with dealers of all the major manufacturers, too, because different brands may offer more savings.

The dealer in your town may only represent one or two brands, but a brand at a dealer an hour’s drive away may offer deep discounts, specials or other perks to make the drive worthwhile. Just as with cars, some dealers are more motivated at the end of a month to move their inventory, which means you might score a great deal if you visit at the right time.

Set sail for your next adventure

If you find a boat you like within your budget, there’s no time like the present. Even going home to sleep on your decision may mean the difference between getting the boat you want and losing out to the person who’s next in line.

That said, it’s important to have a plan. The right boat loan could help make your purchase more manageable, but make sure you have room in your budget for other monthly expenses before you take the plunge.

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Sources

1. https://www.researchandmarkets.com/reports/4987235/recreational-boating-market-growth-trends
   
2. https://www.consumeraffairs.com/boats/boat-sales-trends.html#boat-sales-trends

This article has been updated from previous postings in 2020. Kim Gallagher and Jeff Rasmussen contributed to this post.