Timing is everything when it comes to purchasing a boat. In most cases, a boat is a huge investment that typically requires financing. Knowing the best time to buy a boat can help you get the best deal possible as well as better loan terms.


So, when is the best time to buy a boat? Here’s some advice to help you make an informed decision for your upcoming boat purchase.


Make Your Purchase Off-Season

The ideal time to buy a boat is in the off-season. This is typically in the fall and winter months when the weather is colder and boating activities are less frequent.


Spring is usually when dealers are trying to get rid of leftover inventory from the previous year, but you can also do your boat shopping in autumn and winter. During this time, dealerships offer excellent incentives for helping them make room for the newer models coming in. The only downside to this is that the dealership may not have the boat you want in stock. You can certainly get an excellent deal, but the boat may not fully satisfy your wants and needs.


Do your best not to purchase a boat during the summer when boating activities are at their peak. The latest models have just be unveiled, and the price tags on these vessels is at an all-time high. If you want something that has been newly released, it is best to wait until winter or late spring of the following year.


Do You Want a New or Used Boat?

As with anything that comes with a price attached, the principles of supply and demand are highly influential. For example, in 2008, during the recession, boat production dropped. Boat owners looking to trade-in or upgrade their boat had to wait years before the vessel they wanted became available.


The demand for a specific boat model will most definitely impact the price you pay. Even if the boat is used, the number of models available, as well as how many others are searching for it, could elevate the price beyond your budget. The question is whether you want to wait or search for something else.


Fortunately, many used boats hit the market in autumn and winter, when they have been traded-in at the beginning of the year for something newer.


Snag a Deal at a Boat Show

The boat show season typically goes from late winter to early spring, and it’s when manufacturers unveil their newest models. Many boat dealerships and sellers use this time to showcase their inventory, and they may offer incentives and promotions to lure buyers. However, the prices of the latest models are often inflated, so if you’re not set on purchasing the latest model, it may be best to wait until the off-season.


Boat shows also give you the advantage of looking at hundreds of models at once. You can do some market research on competing models, manufacturers, and technology. You may also find that there are lenders at boat shows offering special pre-qualification deals, meaning that there are plenty of options within your budget.


Keep Interest Rates in Mind

If you’re planning to finance your boat purchase, interest rates may fluctuate throughout the year. Interest rates are influenced by the overall economy, and they may increase during peak boating season when demand is high. Therefore, financing your boat purchase during the off-season may result in lower interest rates, saving you money on the overall cost of the boat.


On the other hand, waiting too long to purchase a boat may result in limited inventory, as many boats may have already been sold. If you wait too long, you may miss out on the best deals and dealership incentives.


Open up a conversation with a reputable lender to see if they offer more flexible options throughout the year. That way, you can get the boat you want when you want it.


Finance Your New Boat with Atlantic Horizon Capital

If you are looking to purchase a new boat, the best time to buy it is off-season, which is typically fall or winter, though it depends on your location. During the off-season, boat dealerships and sellers are more motivated to sell boats, and you may find reduced prices, additional incentives, and the opportunity to inspect and survey the vessel before the peak boating season. However, it’s important to keep in mind that waiting too long may result in limited inventory and missed opportunities. Ultimately, the timing of your boat purchase should depend on your specific needs and circumstances.


Looking to finance the boat of your dreams? Atlantic Horizon Capital can make your dream of boat ownership come true. We offer flexible boat loans for a variety of vessels. Apply today or contact our experienced team with your questions.

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