What is the Cost of Owning and Operating a Boat?
Starting Up. The prices of boats depend on several different factors: size, make, year, etc. Buzz's Marine can put you in the captain's chair for considerably less than a monthly new-car payment. If fact, it's not uncommon to get monthly payments under $200 per month.
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 range from 2 to 10 or even 15 years depending on individual credit and the boat being purchased.
Outfitting. Similar to new cars, new boats are offered with different accessories and options. When pricing boats, factor in the cost of electronics, accessories and water toys and buy what's appropriate for your boat type and size as well as the size of lakes in your area. Modern marine electronics are extremely reliable and loaded with features unheard of just a decade ago and are more affordable than ever.
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 crafts do not require exorbitant amounts of gas, so any impact would be negligible. In fact, 64% of boaters say they purchase less than 50 gallons of gas per season. Which is roughly 2 trips to the gas station to fill up your SUV or Minivan.
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. Costs for routine maintenance are very minimal, oil changes, winterizations, etc. Especially when you take into consideration the cost in the long run for not maintaining your vessel.
Storage. When it comes to storing your boat, you have several options depending on the size of your boat. You won't find a less expensive way to keep a boat than storing it on a trailer in your driveway or backyard. 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 more information on storage facilities in your area contact us at (866) 366-2899.
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. You can reduce the cost of marine insurance premiums by taking a boater's education course. See www.ngpc.state.ne.us for course information.
Source: www.discoverboating.com/owning/costs.aspx
