Boat ownership is expensive. It’s one thing if you are using the boat and enjoying the lifestyle that boating offers; it is another story when you are not.Whether you are simply looking for cash for your boat or you have a new, different boat in mind, we’ll look at why selling your boat fast can be the best way to keep more of that money in your pocket.
It’s Costing You Daily
If your current boat is no longer doing it for you, take a look at the following reasons why it may be in your best interest to sell your boat fast:
Payments
Are you still making payments? The longer you wait to sell, the more that boat is costing you. You are paying interest daily on an item you no longer need or even use. If it’s winter and your plan is to wait until the spring to sell your boat, keep in mind that you will be making another 3-6 months of payments in order to get through the winter, depending on where you live. This decreases your net profit when you finally do sell.
Fees
Is your boat at a dock or at a storage facility? Factor those fees into your monthly expenses every day you wait to sell.
Depreciation
Time is working against you. Depreciation factors greatly into the decision between waiting to sell and selling now.
Your current boat is getting older by the day and since boat values are calculated by year of manufacture, every January 1, the value drops significantly.
Repairs
“Break-Out-Another-Thousand.” We’ve all heard that acronym used to describe the inevitable toll that boat repairs take on our wallets. The simple fact is that the longer you keep your current boat, the more things will break and need to be repaired. The more repairs you have to pay for, the more it takes away from your net profit when you sell your boat.
Maintenance
Monthly maintenance such as washes, details, winterizing and other scheduled items will continue to subtract from your net profit
Insurance
If you are at a dock, you’ll most likely need that policy binder to reflect that the marina is covered as “additionally insured”. Many marinas also have minimum coverage requirements that you have to maintain. They are usually steeper than what’s needed for simply covering the boat while in storage.
How to Sell Your Boat Fast
Armed with the knowledge above, you can see why it may be in your best interest to rid yourself of current and future costs associated with your boat and simply sell your boat fast.
That is where we come in. Here at Cash In My Boat we buy boats fast through our wholesale purchase process. Our team of wholesale experts will work with you and give you the most cash for your boat possible so that you can move on to your next adventure.
We start by conducting a quick inspection. Next, we offer you the highest offer possible. Finally, we provide a hassle-free paperwork and quick closing process.
Conclusion
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- Owning a boat is expensive, as is waiting to sell once you have made the decision to do so.
- Payments, fees, depreciation, repairs, maintenance and insurance all take away from your net profit.
- Cash In My Boat helps you to sell your boat fast by working with experienced wholesale experts who will walk you through the sales process and help you get the most cash for your boat.