The Cost of Owning and Operating a Boat
Starting Up
Naturally, prices for new boats vary depending on size and make, but many boat manufacturers and dealers can put you in the captain's chair for considerably less than a monthly new-car payment. In fact, monthly payments for entry-level boats can be as low as $200. Compare boats and their prices to come up with the ideal choice for you.
The other thing to consider is how boating compares to other family activities that you might be thinking of for your family. Whether you are thinking of a week’s vacation or a few rounds of golf, have a look and see how they compare to an entire summer of fun on a boat using the Affordability Planner.
Boating offers you an entire summer of fun and relaxing activities for the whole family at a reasonable cost. Compared to some other options for vacationing and family activities you'll find boating is an affordable option with all kinds of variety!
Financing
You can finance a new boat just like a new car. As with car and home loans, boat loans have carried extremely appealing interest rates in recent years. Terms can range from shorter periods to longer depending on your needs. Comparing rates on-line is a great starting point.
Outfitting
Similar to new cars, new boats are offered with different accessories and options. When you're pricing boats, factor in the cost of electronics, accessories and water toys and buy what's appropriate for your boat type and size and your home waters. Modern marine electronics are extremely reliable, are loaded with features unheard of just a decade ago and are more affordable than ever. Don't skimp on safety gear.
Today's marine accessories can increase boating safety and fun, and make it downright easier than it was just a few years ago.
Operating Costs
Boating isn't an activity like driving where you are using gas all the time. In fact, when a person is boating, they may be fishing or swimming and not using the motor at all. If you own a sailboat the motor is used even less.
Most of the boats in use on the water today are less than 21' in length. These craft do not require exorbitant amounts of gas, so any impact would be negligible. In fact, 64 percent of boaters say they purchase less than 190 litres (50 gallons) of gas per season* - roughly three trips to the gas station to fill up your SUV or Minivan.
*U.S.-based study
Quick Tips For Reducing Fuel Usage
Boat Maintenance and Upkeep
Boat, trailer, and motor maintenance can be as simple as a freshwater wash down after each use and keeping them covered between adventures. This simple task will go a long way toward keeping your maintenance costs at bay. If you don't feel like you have the time and energy to do it yourself, hire a pro. It'll pay off in the long run. Costs for routine maintenance vary by region, but for more involved services, such as oil changes and winterizing, expect to pay what you would for your car on an hourly basis. If considering a pre-owned boat, bear in mind that they can require more maintenance.
Storage
When it comes to storing your boat, you have several options depending on its size. You won't find a less-expensive way to keep a boat than storing it on a trailer in your driveway or backyard (be sure to check your local bylaws). Another alternative for smaller boats is rack storage. A typical rack storage facility keeps your boat in a covered shed filled with trailer-like cradles. For owners of larger boats, and owners of small boats who crave convenience, a marina slip is the best way to go. Learn more about different types of storage.
Insurance
Boat insurance varies by boat length and type, by the cost of the boat and the level of coverage you want. Consult your insurance agent for quotes or compare rates online. Some smaller boats can be insured for a nominal sum as a rider on a homeowner's policy.
You can reduce the cost of marine insurance premiums by taking a boater's education course.
See Also:
The Cost of Owning and Operating a Boat
Starting Up
Naturally, prices for new boats vary depending on size and make, but many boat manufacturers and dealers can put you in the captain's chair for considerably less than a monthly new-car payment. In fact, monthly payments for entry-level boats can be as low as $200. Compare boats and their prices to come up with the ideal choice for you.
The other thing to consider is how boating compares to other family activities that you might be thinking of for your family. Whether you are thinking of a week’s vacation or a few rounds of golf, have a look and see how they compare to an entire summer of fun on a boat using the Affordability Planner.
Boating offers you an entire summer of fun and relaxing activities for the whole family at a reasonable cost. Compared to some other options for vacationing and family activities you'll find boating is an affordable option with all kinds of variety!
Financing
You can finance a new boat just like a new car. As with car and home loans, boat loans have carried extremely appealing interest rates in recent years. Terms can range from shorter periods to longer depending on your needs. Comparing rates on-line is a great starting point.
Outfitting
Similar to new cars, new boats are offered with different accessories and options. When you're pricing boats, factor in the cost of electronics, accessories and water toys and buy what's appropriate for your boat type and size and your home waters. Modern marine electronics are extremely reliable, are loaded with features unheard of just a decade ago and are more affordable than ever. Don't skimp on safety gear.
Today's marine accessories can increase boating safety and fun, and make it downright easier than it was just a few years ago.
Operating Costs
Boating isn't an activity like driving where you are using gas all the time. In fact, when a person is boating, they may be fishing or swimming and not using the motor at all. If you own a sailboat the motor is used even less.
Most of the boats in use on the water today are less than 21' in length. These craft do not require exorbitant amounts of gas, so any impact would be negligible. In fact, 64 percent of boaters say they purchase less than 190 litres (50 gallons) of gas per season* - roughly three trips to the gas station to fill up your SUV or Minivan.
*U.S.-based study
Quick Tips For Reducing Fuel Usage
Boat Maintenance and Upkeep
Boat, trailer, and motor maintenance can be as simple as a freshwater wash down after each use and keeping them covered between adventures. This simple task will go a long way toward keeping your maintenance costs at bay. If you don't feel like you have the time and energy to do it yourself, hire a pro. It'll pay off in the long run. Costs for routine maintenance vary by region, but for more involved services, such as oil changes and winterizing, expect to pay what you would for your car on an hourly basis. If considering a pre-owned boat, bear in mind that they can require more maintenance.
Storage
When it comes to storing your boat, you have several options depending on its size. You won't find a less-expensive way to keep a boat than storing it on a trailer in your driveway or backyard (be sure to check your local bylaws). Another alternative for smaller boats is rack storage. A typical rack storage facility keeps your boat in a covered shed filled with trailer-like cradles. For owners of larger boats, and owners of small boats who crave convenience, a marina slip is the best way to go. Learn more about different types of storage.
Insurance
Boat insurance varies by boat length and type, by the cost of the boat and the level of coverage you want. Consult your insurance agent for quotes or compare rates online. Some smaller boats can be insured for a nominal sum as a rider on a homeowner's policy.
You can reduce the cost of marine insurance premiums by taking a boater's education course.
See Also:
