Costs of boat ownership

Discussion in 'Boating' started by JPritch, Oct 30, 2006.

  1. JPritch

    JPritch New Member

    Messages:
    1,852
    State:
    Lynchburg, VA
    I am in the market for a used boat, and think I found a boat that fits my needs.

    I am wondering what types of costs can I expect to incur up-front and ongoing with a boat of this nature? It would be a private party transaction, not sure if sales taxes would apply, or if they stick me when I go to title it? How much are typical title fees (I'm in VA if that helps). We have annual personal property taxes here in VA, bummer. What type of maintenance is needed and how much can that run? Luckily, I know somebody willing to let me store the boat on their land, so storage fees are n/a.

    I appreciate the insight guys!
     
  2. KajunPCB

    KajunPCB New Member

    Messages:
    22
    State:
    Panama City Beach,Fl.
    well it depends on what type of boat you get...how much it costs etc...i live in norfolk....and bought a used boat ...you pay a registration fee..like $35 or so.. and you need to get the trailer registered..another $30-40..sales tax...i'm not telling you to do this but ALOT of people never tell DMV the correct amount you paid for the boat and...people always give a price way under what they paid for it..that way they only charge you tax on the amount that is given...again..i'm not telling you to do this but its common.......property tax is not much.. and again its based on the price of boat.....but these things are all nothing compared to the real cost of owning a boat...the upkeep and maintenance!!.....do you know what BOAT stands for? Break Out Another Thousand! lol they arent cheap.. they arent an investment..and they dont appreciate in value....some say they are a floating hole in the water that you throw money into....i bought a boat last year...cost me $4500..in one year i have put atleast $2000 into fixing the motor....last month the motor blows a piston:( i'm in the process of repowering now...more $$

    of course this all depends on your boat and if you can do all you maintence by yourself....i suggest learning how to work on your own engine..buy a service manual and learn it...or pay mechanics big $$ to fix it....hope this helps...i'm not trying to discourage you from buying but trying to be honest.. boating is not cheap....but with proper maintence and upkeep it can be managable.
     

  3. JPritch

    JPritch New Member

    Messages:
    1,852
    State:
    Lynchburg, VA
    Thanks for the great info Chad. I was kind of suspecting maintenance would be a bear. Seems like alot of the descriptions of used boats say something to the effect of just had this repaired or replaced, or it needs x part etc...

    The boat I'm looking at has a 6 cylinder 190HP inboard motor. The owner says it runs good. But being so powerful it sounds like I could be in for some major $$$$ if something were to break.
     
  4. AwShucks

    AwShucks New Member

    Messages:
    4,532
    State:
    Guthrie, Oklaho
    It depends on what your wanting a boat for...if your gonna run the Chesapeake or York river and use it quite a lot in salt water, the TIME and EXPENSE required for maintenace increases. It has to be flushed good after every trip. If your talking about everyday expenses, they are not bad. 6 to 10 gallons of gas a trip, oil, lower unit lubricant, trailer bearings and grease... just common things. The horror storys don't happen daily - like 2 or 3 thousand for motor repairs...they can happen, but not usually once a year... more like once every 5 or 10 years. Buying second hand though, you never know when that 5 years is gonna hit. Thing that gets you is the unaccounted things...like grinding your propellor blades off on a large rock, dropping the motor while driving and messing up the skegs. Most of the expense is brought on by ourselves. If your comfortable with your monthly salary now, and figure you can spare 50 to 100 dollars for the boat (as needed) go ahead. I don't think inboards are as bad as an outboard - they are just cars that run on the water. LOL. Outboards are freaky to me... how do they run? Any rate, good luck.
     
  5. JAYNC

    JAYNC Active Member

    Messages:
    1,312
    State:
    Newport N.C.
    To me my boat is a big money pit, seems like I am always buying something to put in it. So far I have basically done just routine maintenance, but thats still expensive, especially if you but the parts from a dealer. I have about 150 hrs on my engine now in a little over a year, so far I have changed the oil and filter 4 times, first three times with regular mercury oil, then I went to mercurys synthetic blend, I have changed the lower unit oil, changed the impeller, spark plugs, thermostat-- because I run in salt occasionally. As far as the biggest expense I would say- gas, but then you have to buy ring free, stabil, and anti corrosion sprays, grease. It never ends with boat maintenance. I went to florida for a week and got back saturday, I had left the anchor light in the socket. When I was getting the boat ready to go out sunday, none of the accessories would work, depth finder, bilge, airator, nav lights. I checked the fuse on the pos battery cable and it was blown. I didnt leave anything on, so I was like what the heck. I pulled the anchor light pole and the bottom of it was green with corrosion. I guess so salt water got in there and had a little fun. So off to west marine I went to buy a new socket for the anchor light, a new anchor light pole, and a couple other things, that came to $82 After that I went over anything electric on my boat and put a big coat of di-electric grease on it. It never ends with boats, but most of the costs are from not doing preventative maintenance. If I had di-electric grease on it in the first place I would have had a lot more gas money, oh well thats how it goes I guess. If I were you I would have a certified mechanic look over your engine if your buying used, sure he will probably charge you 75-100 but if you dont have him look at it, and the power head or the lower unit blows up you will be wishing you did. Good luck with your new boat
     
  6. zappaf19

    zappaf19 New Member

    Messages:
    1,574
    State:
    Monticello,IN
    My I suggest a compression check on ALL the cyclinders before handing over the $$$. I have a old tower of power merc 115. It has treated me good. I have rebiult the carbs a couple times and put a new starter on it. Thats about it.
    Bill
     
  7. jim

    jim New Member

    Messages:
    2,579
    State:
    Jacksonville NC
    Jason gave you good advice on getting the motor checked by a certified mechanic.Take a good look at the lower unit.If the prop is dinged up and the skeg busted,paint all gone keep walking.Ask where it was stored ,was it used in salt water, what maint was done on it, when were the plugs changed,etc etc.DON't get caught up in the excitement of "I gotta have this boat" No you don't and major engine repairs will take the fun out of ownership.I love working on my boat and doing the maint is part of that relationship.Of course I was a Tanker in the Army and if your tank doesn't run then you are a grunt.:angry: :crazy: :eek:oooh: If you aren't handy with tools etc you might want to re think.I personally would not buy a used boat.You just can't know how that motor was treated.I might buy a used boat but I would repower.Inboards have more maint requirements for the most part so anything that is down "There" or below deck etc can easily get ignored or forgotten.They can be a lot of fun but at the risk of being politically incorrect they are a lot like women in that you have to be constantly aware of their moods,signs and signals,lest you miss something important.:big_smile: :lol:
     
  8. ka_c4_boom

    ka_c4_boom New Member

    Messages:
    2,252
    State:
    Bedford,Ky
    i have a 1983 river jon it has the original motor 40hp mariner iv put probly over 1000 hours on it since i bought it back in the spring it runs good but my biggest problem is mixing the gas iv had to replace the plugs bout 5 times and i always keep a pair in the boat in case i need them . plugs are my biggest expense other than i did spin the prop but i got a refurbished one for $75. thats not alot .
     
  9. snooker_hooker

    snooker_hooker New Member

    Messages:
    251
    State:
    sc
    open a direct deposit right to the water. any boat will need more and more nomatter what size. you will alway want more and better things. my 16 ft alumacraft as so many upgrades and mod done to it. i am always looking. now that im almost done i want something bigger for the family. go figure!
     
  10. CatHound

    CatHound New Member

    Messages:
    164
    State:
    Missouri
    I have an older boat - it's a 16 foot 1973 Crestliner with a 1982 Evinrude. I bought it from an older gentleman that had 3 other boats. He took care of them immaculately for the most part. When I agreed to buy it, I had no trailer light hook ups. When he saw that, he said wait a minute. He came back from his garage with some wires and connectors and in 5 minutes he had my truck all ready to go. He was a fine man to do business with. He also threw in an electric trolling motor and an extra swivel seat just for the heck of it. I have had my boat now for a number of years and it does not leak one drop of water nor have I had any issues with the motor. It starts every time right off the bat and purrs like a kitten.

    If you look carefully and do your home work, you can also find deals like that.

    However, I have heard some real horror stories from a few of my buddies who have bought boats and had all kinds of problems.

    BTW - Do you know what the acronym B.O.A.T stands for ?

    (B)low
    (O)ff
    (A)nother
    (T)housand $

    Also, There is a saying around these parts. The two best days of a boat owner's life are - the day he buys his boat and the day he sells it.

    Good luck in your quest.
     
  11. tobystan_2000

    tobystan_2000 New Member

    Messages:
    81
    State:
    Texas
    I recently registered my boat and trailer here in TX. I cost roughtly $125 for both. Good luck.
     
  12. FishMan

    FishMan New Member

    Messages:
    2,293
    State:
    Tennessee
    Boat ownership can be the best money spent for outdoor enjoyment. Buy wise and know that it cost to enjoy. It's only money and every person must have enjoyment of life. Life cost money....spend it on things you enjoy and don't look back. You can not boat or fish when you are gone.

    Have fun.
     
  13. Pilgrim

    Pilgrim Guest

    Well....first post by the way. I just bought my first boat knowing nothing about doing so. It is a 75 FishMaster only gave $200 for it. I go to DMV today to register the trailer and come to find out the trailer don't have a VIN # so I have to pay $140 to get a new VIN # issued. They look at the hand written bill of sale and say I need one that is notorized. The seller has agreed to get me a notorized bill of sale tommorrow.
    Be sure to check the trailer and get the title for it..the state I bought this boat/trailer from did not require the trailer to be titled, Virginia does.
    I did get a copy of the registration from the Wildlife agency but they had let it expire in 2004. I will probably run into trouble when I go to get that transfered also.
    Make sure all the paperwork is in order and all the VIN # and Hull # and engine ser# match up.
    If I ever get this boat in my name and legal then I can begin to spend some real money.
     
  14. rcneman

    rcneman New Member

    Messages:
    482
    State:
    TN
    As usual with the BOC, you already have a LOT of good information. This place ROCKS! :cool2:

    I am certainly glad i do not have to deal with the saltwater issues...sounds like a whole lot more work! lol :tounge_out:

    If you spend a lot of time on the water, I would think that routine maintenance issues come up more frequently. This has generated the most frustration for me, personnally, as i have had to spend a perfectly good fishin day, in the back yard workin on the boat.
    It's necessary to sacrifice some quality fishin time though, instead of findin yourself stranded a LONG ways from your vehicle. :eek:oooh:

    cyas
    robert
     
  15. JAYNC

    JAYNC Active Member

    Messages:
    1,312
    State:
    Newport N.C.
    I usually use all the nasty and windy days for working on the boat, that way when its nice out I have time to go. Using the boat in the salt was terrible for me for a couple months. Now I just got some salt away and right after I get back now I flush the motor with it and spray down the boat and all the electrical connections. So far I haven't seen any corrosion since I started using it.
     
  16. cincycatman

    cincycatman New Member

    Messages:
    27
    State:
    Ohio
    anyone know what boat insurance runs in Ohio on a simple Jon boat??
     
  17. redfishman

    redfishman New Member

    Messages:
    187
    State:
    South Louisiana
    Without wanting to be trite- The bigger the boat---the bigger the sieve the money goes thru.....There alot of secondary costs with boat ownership. For example:If you trailer a boat to your favorite haunt long distances and don't have the right tow vehicle--you'll tear up the transmission--wear out tires-lower gas mileage significantly--not to mention having to replace brakes everytime you turn around. Then there is wear and tear on the trailer itself. Keeping bearings and hubs in good shape-replacing wiring and lights esp if you drop it in saltwater. Then there is wear and tear on the boat. If you store your boat outside be prepared to replace electonics every 3-4 years with corrosion to terminals. Vhf units and gps mapping units are not cheap.

    Whatever you choose GET INSURANCE--It's really cheap--most policies cover theft-breakdown-towing on water-and liability-. Over the years I've had policies with Allstate and Progressive(which specializes now in watercraft).

    One thing I've learned over 29-years of marriage: If you find a way to finance the boating hobby thru other means like odd jobs or side line business where it does not impact the family budget thru "her" or "your"
    main income----"she" won't care how often or where you go...
     
  18. keithcatfish

    keithcatfish New Member

    Messages:
    148
    State:
    Maryville, TN
    I had to sell a kidney on EBay to keep my boat running. I think that sums up the cost of boat maintenence.
     
  19. Lngbo

    Lngbo New Member

    Messages:
    622
    State:
    Marion Ark
    My boat was five years old when I got it and it had been in the water once and parked in the pasture. I changed the oil, got new batteries and a new boat cover. Changed oil in lower unit and repaired a slight wiring problem. I hve had it two years and that is it other than buying gas and oil to go fishing.

    I store it in the garage.
     
  20. oh no

    oh no New Member

    Messages:
    11,108
    State:
    Indiana
    I have heard a boat is a hole in the water you through money into. And it's true and fun to do.

    If you are like any ordinary man, you will develop a Tim Allen syndrome. ouh ouh. lol lol You know that Home Improvement guy. Bigger is better, more toys are better. MORE POWER!!!

    Hey if we can't laugh at ourselves, it's pertty sad. I have spent ton's of money on boats over the years, and if you enjoy your boat, it's all right.

    I think my 99 Lowe cost me 77 dollars to register in Indiana when it was new, now I think it's down to about 45 dollars a year.

    I had insurance on it the first few years, not now. I have changed so many things on it over the years to make it, what I thought I wanted, that no one is going to steal it. LOL LOL After years of chicken liver and flies, I'm lucky if someone even get's near it. LOL LOL

    The flies leave at about 30 mph. only to catch up when I slow down or drop anchor. LOL LOL

    Hey you only live once, so enjoy life. Get out on the water and enjoy God's creation, the planet earth.

    And another thing if God did not want us to have boats, he would not have covered the earth, 75% percent of it anyway with water. It is kind of a spirtual thing so to speak. LOL LOL

    :smile2: :smile2: :smile2: