It's summer and it's a buyer's market. What better time to buy a used boat? Due to financial strains, many people are giving up their luxury possessions. In the used boat market, selection is high and prices are low. There are currently a few different sources to find used boats for sale.

Explore Your Sources

As a buyer, you can explore many of the same options that boat dealers use to purchase inventory. Here are a few ideas:


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1. Classified ads are a great way to find boats for sale by owner. Online classified websites such as craigslist are often also a good choice. If you are lucky, you might be able to find a deal. Unfortunately, unless you are an expert, you probably won't be able to determine the mechanical condition of the boat. Nobody wants to go home with any unpleasant surprises.

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2. Many boats get repossessed by banks or other financial institutions. When an owner fails to make payments or owes a large sum of money, the banks will sometimes sell their boat to recover the investment. Although these boats often go for %20 to %60 of their value, the banks seldom advertise these sales.

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3. Government auctions are a great option. Between federal, state, and local government auctions, there is a wide selection of boats at a wide range of prices. Sometimes bidding starts as low as $100. These auctions are also not well advertised, so there will be fewer bidders competing for your favorite watercraft.

Your Best Source

If you have decided to explore your options, you are probably wondering where to start. There are websites that list online auctions, and give information on how to bid. Joining one of these sites will allow you to search out some of the best deals available and make an informed purchase. Take advantage of this market. This is a great