The second owner boat market is full of used boats and while buying a one is never easy, recent economic conditions could lead to an increase in vessels for sale that may have severe or hidden damages. Many times damaged boats are repaired properly and re-sold, but sometimes sellers and dealers do not always tell the truth. Which makes finding out whether a boat has been hidden damage can be difficult. That difficulty is especially relative if cosmetic repairs have been made.
Here are some tips to help protect you from accidentally buying a vessel with severe or hidden structural damage.
Get a Survey: The boat looks brand new, but did you know that 12% of all boat damage is a result of improper maintenance? Do you know how to look under the covers and know if the boat has been properly maintained? A surveyor hired by you and not someone else has the knowledge and expertise to know what is proper and what is not. Therefore having a survey done by a professional, reputable and independent surveyor is vital, especially if you're looking to invest thousands of your hard earned dollars.
Selling Across State Lines: Buyer beware is an old but true adage and seller's wishing to obscure a boats history only needs to cross state lines. Unlike automobiles a number of states do not have laws requiring the titles of junked or salvaged boats be recognized as such. And only 36 states even have a requirement that powerboats be titled. Often the absence of a salvage title allows an unscrupulous seller to simply trailer the boat to another state and list it for sale with a dealer. Use caution if the seller is unwilling to document where a boat has been berthed or registered for the past few years.
Untrue Reporting: Although some internet websites allege to provide comprehensive background information on used boats, consumers should be hesitant since there is no single clearinghouse for boat information. You could check the records of each boat by calling the boat registration agencies in every state but you must still be aware that, state boat registration records do not include information about accidents or insurance claims.
As Is Condition - Can be expensive: Protections afforded consumers by federal warranty laws and state implied warranties are limited when products are sold in an as-is condition. Without a thorough inspection and survey, you may not find structural or hidden damages until something major happens. It's only then that repair efforts reveal the true extent of damage.
Most insurance policies do not cover pre-existing conditions and will not pay for the repairs. If buying in as-is condition, consider adding a statement in the sales contract that says the seller has revealed everything they know about the boat's pre-existing and existing condition including all repaired damages.
Knowing Before You Purchase: For certain buyers purchasing a used or damaged vessel may be appealing, provided they have the time, budget and sweat equity needed to facilitate repairs. However, knowing it's a used or damaged boat is a must.