Boat Buying Guide: Setting New Boat Expectations
Buying New? Don’t Make These Four Assumptions.
If you’re thinking about a new boat, you're likely focused on a few key factors: custom specification, a "shiny" new warranty and no prior owner history to worry about. With the good also comes the not-so-good, where boats can be delivered with problems stemming from poor production quality, bad parts and even transportation damage.
Manage these four assumptions and create a pathway to maximizing your new boat experience.
ASSUMPTION 1
NEW BOATS ARE Perfect
Your new boat should arrive from the factory in flawless condition. The assumption is fair, yet unfortunately, reality strikes. Coaching your boat’s systems to work in perfect harmony can take much more than a quality control checklist on factory departure. Production completion and subsequent factory departure is only the beginning of a delivery process which can be riddled with unresponsive components, unexpected damages, improper assembly and performance inefficiencies.
While horror stories do exist, its more realistic for us to discuss the average experience. Your new boat will not leave the factory perfect; it will come with manageable defects for the dealer to remedy. This is a good reason to have an experienced broker on your side, to identify important issues and prevent you from taking ownership until those issues are effectively resolved.
ASSUMPTION 2
NEW BOATS ARE Less Likely to Malfunction
As mentioned in the prior section, ‘just because its new doesn’t mean it’s perfect’. It’s still a boat. Components are bound to malfunction, and just because they do doesn’t mean your new boat is trash. When comparing its rate of failure to, say, a used boat, the rates may be similar, but the specific reasons for failure are vastly different. Used boats issues are largely due to wear and tear and poor maintenance, while new boats have components just flat out not working and you don’t know why. Most of the time its a simple labor error fixed quickly. While new boat issues are frustrating, they don’t compare to the complexities and costs of large issues on used boats. And don’t forget, any new boat issues are covered under a warranty.
It’s always expected the first few hours of a boat’s life are spent working out the kinks and getting to know the vessel. When you combine combustion engines, stored energy, plumbing, air conditioning, electrical wiring, consumer electronics, refrigeration and more, there are bound to be a few loose screws. With the right support, you’ll be on your way in no time.
ASSUMPTION 3
NEW BOATS HAVE DEPENDABLE Delivery TimeS
Covid was an anomaly, but its effects on shipping will stay around. While international shipping prices skyrocketed in the last three years, so did the list of acceptable excuses from factories, dealers, and transport agents alike. Although supply lines have generally normalized, estimates expect transport companies will try to keep prices high by limiting their total routes. The Port of Los Angeles reported 17 canceled voyages in January alone, and more are expected.
Beyond transport, factories are still blaming a variety of production delays on Covid and supply chain problems. Protect yourself by including terms in your purchase agreement penalize unexpected delivery delays. One or two months is nothing in the grand scheme, but four or more can ruin a season, and you need to make sure the factory is incentivized properly to deliver according to the promised delivery time.
ASSUMPTION 4
NEW BOATS HAVE Seamless Warranty Fulfillment
Many times, we find ourselves comparing boat ownership to car ownership. Relating to warranty, this could mean bringing your boat to the dealer for a few days, fixing a list of items, and having it back for the weekend. This is not a precedent you should set for yourself. Boat warranties are complicated, and to no fault of the brand. Your boat’s warranty is composed of the brand’s warranty on proprietary build components plus the aggregate of many smaller 3rd party warranties. Managing your boat’s warranty yard period can include orchestrating remedies from several different companies, each with their own warranty request process that can take weeks.
Discuss the warranty fulfillment process with your brand ahead of time to set everyone’s expectations.
Even if you endure a production delay, drama-filled delivery, and a slow warranty fulfillment process, a new boat customized to your wishes is something special. Understanding what to expect with a new boat delivery process can help you set expectations get the most out of a momentous occasion.
Purchasing through a brand with a professional delivery system, an active service staff and a considerate executive team will make a huge difference. Having a seasoned broker on your side to manage your expectations in real-time can save you real dollars, limit your headaches and move your boat through delivery and warranty in a stress-free fashion.
For a list of brands I love working with on new build projects, contact me at Reed.Nicol@WaveYachtSales.com.
