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Old 04-20-2016, 12:48 PM   #1
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Newer vs. Older

I'm considering my options at purchasing a 45 - 55 ft. trawler. I'm looking for opinions and things I may not have thought of. Here is my dilemma.

Do I purchase a "newer" boat with low hours for 600 - 700K, or purchase an "older boat" for 200K, and spend 1 or 200K putting in a new motor and new electronics, still saving 200 - 300K?

Thoughts?
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Old 04-20-2016, 12:58 PM   #2
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Originally Posted by wbnphd View Post
I'm considering my options at purchasing a 45 - 55 ft. trawler. I'm looking for opinions and things I may not have thought of. Here is my dilemma.

Do I purchase a "newer" boat with low hours for 600 - 700K, or purchase an "older boat" for 200K, and spend 1 or 200K putting in a new motor and new electronics, still saving 200 - 300K?

Thoughts?
It really depends on the boats that are available and that meet your needs/wants. I don't think you are going to save $300K buying an older boat and installing a new engine and electronics. It's still going to be an older boat and other systems may need repair or replacement.
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Old 04-20-2016, 01:01 PM   #3
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Questions:

1. Do you have the ability to do most of the work yourself? If not then I would say don't buy an older fixer upper.

2. Do you want to cruise or work on a boat?

Even newer boats will need some stuff, so don't forget to leave some money (20% of purchase price?) left over for that.
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Old 04-20-2016, 01:05 PM   #4
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Originally Posted by wbnphd View Post
Do I purchase a "newer" boat with low hours for 600 - 700K, or purchase an "older boat" for 200K, and spend 1 or 200K putting in a new motor and new electronics, still saving 200 - 300K?

Probably somewhere in the middle. Lots of older boats out there that aren't going to need a new engine. And lots of navigation is relatively easy with decent -- but not necessarily the latest and greatest -- electronics.

Find candidate boats that offer the features you need/want/like, then worry about the minor details.

-Chris
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Old 04-20-2016, 01:18 PM   #5
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Could'a said ..

Newer v/s older BOAT.
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Old 04-20-2016, 01:26 PM   #6
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It is a personal choice. I suggest finding the type of boat that will best suite your needs. If it is an older boat, go that direction.

Personally, I wanted a newer boat since I don't have the time or temperament to do all the rehab and maintenance required on an older boat. Even a newer boat has enough. If I had the money you are talking about to spend, I would look at boats around 5 years old. Lots of them out there in that age, size, and price range.
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Old 04-20-2016, 01:28 PM   #7
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If you want to save $2-300K buy a boat the current owner spent scandalous amounts of cash refurbishing/repowering. There out there but the trick is to not have feet of clay when you find one.

Also keep in mind the purchase price is nothing more than the ante to buy a seat at the table. Forget diesel fuel, boats run on cash.
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Old 04-20-2016, 01:33 PM   #8
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What is your objective??? To work on a boat??? If you actually want to use the boat as a boat then I would suggest you go newer. I am a little hesitant to answer the question because it really isn't as simple as you make it seem. Bottom line, if you rehab an old boat you still have an old boat. Strictly from a resale value perspective, i think you will do better with the newe boat.
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Old 04-20-2016, 03:02 PM   #9
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It's all based on you. Your skill. Your desire to do work on one. Your tolerance for problems and headaches. Your anxiousness toward getting on the water now, if not sooner. I would never have the patience or tolerance to go through the major rebuilds so many have here. Some love that work though and there are a few who like that part of boating more than getting on the water. I also don't have the skills. Probably have the least applicable skills of anyone here when it comes to a rebuild of an old boat.

The more the project, the more you can potentially save if you can do all the work yourself.

The more the project, the greater the odds it will take years if it ever gets completed and the longer the time until you'll actually be on the water.
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Old 04-20-2016, 08:28 PM   #10
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New is not everything it's cut out to be. A brand new boat has all sorts of problems. A 10 year old boat has equipment that needs to be replaced, especially electronics. So the sweet spot on new is three years old to maybe seven.
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Old 04-20-2016, 08:36 PM   #11
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New is not everything it's cut out to be. A brand new boat has all sorts of problems. A 10 year old boat has equipment that needs to be replaced, especially electronics. So the sweet spot on new is three years old to maybe seven.
A brand new boat from the right builder doesn't have all sorts of problems. Still I won't argue that financially three to seven years old makes more sense, even though we buy new.
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Old 04-20-2016, 09:02 PM   #12
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For me it was an easy answer--I couldn't afford the type of boat I wanted if it was newer. When I bought my boat it was 15 years old, priced right and in good condition.
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Old 04-20-2016, 09:10 PM   #13
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For me it was an easy answer--I couldn't afford the type of boat I wanted if it was newer. When I bought my boat it was 15 years old, priced right and in good condition.
Exactly. I bought a 6 year old boat. Well equipped, not too much ready to fail (other than batteries) but not too expensive for me.

TF represents a huge range of financial resources. I spend more money on my boat than many could ever dream of spending. OTOH, some of the boats represented here (new or used) will always be far far above what I could ever afford.

I am truly grateful for those that can and choose to spend money on new boats. It is only because of them that the rest of us have used boats to consider.
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Old 04-20-2016, 09:14 PM   #14
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Newer vs. Older

Quote:
Originally Posted by ranger42c View Post
Probably somewhere in the middle. Lots of older boats out there that aren't going to need a new engine. And lots of navigation is relatively easy with decent -- but not necessarily the latest and greatest -- electronics.

Find candidate boats that offer the features you need/want/like, then worry about the minor details.

-Chris

Ditto. I am the second owner of my boat, but I may as well be the first. The person that bought it new was unable to keep it for various reasons after only 80 hours of use. He agreed to sell it for a substantial discount to a new boat, after he installed many after market items-dinghy, electronics, etc. I have since seen similar boats come on the market under similar circumstances. Be patient and target the newer boat that has to be sold.
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Old 04-21-2016, 03:20 AM   #15
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In a few years if you decide to sell you gota remember the younger the boat is the easier it will be to sell and just think you won't have to worry about whats going to break down next week
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Old 04-21-2016, 04:02 AM   #16
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Quote:
Originally Posted by ranger42c View Post
Probably somewhere in the middle. Lots of older boats out there that aren't going to need a new engine. And lots of navigation is relatively easy with decent -- but not necessarily the latest and greatest -- electronics.

Find candidate boats that offer the features you need/want/like, then worry about the minor details.

-Chris
Like he said...
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Old 04-21-2016, 06:57 AM   #17
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A really older boat might be a better choice as the installed equipment may be of a higher quality.

Jabsco and Sureflow make nice bilge and FW pumps but not 1/10 the quality of say Galley made.

Same with toilets , the older loud unit may just need a kit installed , for another decade of service.

The older boat with sound engine and fine equipment might only need an interior freshening and what ever electronic toys you can not live with out.

Autopilot quality will be easy to spot KISS!

I always look at the windlass quality and the deck method of stowing ground tackle, to cull the "built to be used: , from the "built to play cottage".

Just avoid the teal deck overlays and shoot for the highest quality builder you can find.
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Old 04-21-2016, 10:23 AM   #18
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older boats that were somebody's baby are often a great deal. They are out thee and don't sell for much more than average junk.
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Old 04-21-2016, 02:12 PM   #19
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If you want to save $2-300K buy a boat the current owner spent scandalous amounts of cash refurbishing/repowering. There out there but the trick is to not have feet of clay when you find one.

Also keep in mind the purchase price is nothing more than the ante to buy a seat at the table. Forget diesel fuel, boats run on cash.
1. $$100K charge cards - If too rich to care

2. $100 dollar bills - If not too wise an owner... and/or too rich to care

3. $50 dollar bills - Not too different two reasons than #2 above

4. $20 dollar bills - If smart and conservative

5. $10 dollar bills - But, plenty of em - if smart, conservative, and very frugal
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Old 04-23-2016, 03:51 PM   #20
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This is a pretty classic question and one for which "to each his own" is the most apt answer I suppose.
My perspective: Simply put, quality and simplicity of design and materials are timeless if the caretaker holds up his end of the deal. Care is likely more about discipline than money though plenty of both are involved.
While I do not hold credentials as a long time big boater, I have owned and operated significant fleets of equipment on land and my experience there has been reflected on water so far and is also reflected in my choice of the two large boats I have purchased. Robust quality of build materials and design in the original build stands the test of time and use consistently. I run some very modern, very complex, and very expensive equipment with lots of electronics and no linkages and it is fun to run and impressive when it does. Often, it is not as long on reliability and longevity as some of the late 70s and eighties Caterpillar construction equipment that has logged over 25000 hours in some cases with original frame, block, and much of the auxiliaries.
With the way that the vast majority of us boat, I think there is almost no risk of "using up" a high quality boat if we take decent care of it no matter how old it is. Some of the modern marvels, perhaps not so much in my view. Though I may not feel that good about it, I expect I could "afford" either.

I expect both of the thirty year old boats that I own to outlive what remains of my boating years and though I won't give a care about it when my body temperature makes its final descent, my guess is they will still be worth what they are now if I do my part in the meantime. Some parts of boats are 'consumable'. That is as true of new boats as it is of old boats. The more of this 'stuff' that you have, the more you need to work on or replace. You may get a honeymoon with a new boat but the consumption is still occurring and the hourly or daily cost is the same.
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