Buying a New Yacht Checklist & Tips
Much like buying a new car, purchasing a new yacht is not as complicated as one may think. Whether you’re moving up to a bigger yacht or looking to become a new yacht owner, the material in this guide can help ensure the yacht-buying transaction is effortless. View our new yacht-buying checklist below.
1. Determine the type of yacht
First things first, you’ll need to determine what type of yacht best fits your lifestyle. Are you looking for a boat to fish on, a yacht for cruising, or maybe one that will double as a charter? At Galati Yacht Sales, we offer it all. We sell new sportfish yachts and premier center consoles for sportfishing ventures, motor yachts, and express cruisers for those who enjoy cruising the waterways, and even teamed up with Hargrave Yachts to customize the G120 superyacht that can double as a charter yacht. Whatever style you need, we can help. View our leading new yacht manufacturers.
2. What can you afford
After you have determined what type of yacht you want to buy, you will need to figure out how much you can afford. Buying a yacht is no doubt a large investment, but well worth the memories that are sure to last a lifetime. View our new yacht-buying guides by price below.
Remember, if you plan to finance a yacht, your credit rating will factor into your purchase. Also, don’t forget to budget for expenses during the sale process and after the sale. Usually, there are a few additional costs not listed on the sticker price that include dealer fees, insurance, registration, taxes, accessories, storage, and upkeep. Discuss these costs with the dealer or your broker early on in the shopping process to determine the full cost of boat ownership and to avoid surprises later. Nonetheless, you should expect to spend at a minimum, 10% of the overall cost of the yacht on annual maintenance.
3. Get the help of a yacht broker
Now you can start your yacht shopping experience, but before you go off and do it alone, it’s a smart idea to enlist the help of a yacht broker. Like a real estate agent, yacht brokers assist in making the process of buying a yacht faster and less stressful. There are many advantages of working with a yacht broker including, their knowledge and understanding of current market conditions, direct point of contact with yacht manufacturers, their training and integrity, and much more.
Not to mention, when you work with a certified yacht broker, you are also backed by a team of customer support specialists, helping every step of the way. Sales professionals work on your behalf to find the best deal based on your preferences and lifestyle. View our team of certified sales professionals.
4. Start yacht shopping
If you enlisted the help of a yacht broker, they will be able to help you find new yachts that match your criteria and preferences, taking the stress off you. If you decided not to enlist the help of a broker, starting with a simple online search is best. From there, refine your results by deciding which manufacture and model best suit you. For many yacht buyers, it’s important to be able to feel, touch, and see the boat that they are purchasing; working with a dealer will allow you to do so.
Simplify Your Boat Shopping Experience with Yacht Shopper
Use our Yacht Shopper tool for an automated yacht shopping experience. It is the easiest way to shop online for a yacht and allows you to be the first to know about new listings that hit the market. Users can create yacht searches based on their preferences, such as builder, price, length, location, and more. Instead of going online and constantly checking for new yachts that meet your criteria, you’ll be notified automatically. Yacht Shopper does the work for you.
5. Schedule a showing & sea trial
After searching for yachts that match your criteria and price range and narrowing down your results to the manufacturer and model, it’s time to schedule a showing. Seeing the vessel in person will help you decide whether you could see yourself owning the yacht. A showing will also bring to light whether or not the boat has everything you are looking for or can be built to your liking with added options and upgrades. Once you have decided on a yacht, it’s essential to take it on a test run. Sea trials are imperative to make sure you are entirely satisfied with performance standards and comfort. Typically, when buying a new yacht, an expert yacht broker or specialist will be on board to answer any questions.
6. Yacht Buying process
If you are completely satisfied with the sea trial, it’s now time to start the buying process. After discussing the price and additional features with the dealer, a deposit and signed contract will be required to start the closing. In most cases, a 10% deposit is expected and placed in an escrow account. Your yacht broker will be able to assist you through this process with ease.
If you plan to finance your new yacht, talk to your yacht broker about options. Your broker and their support teams will be able to help you find you the best marine insurance companies to work with and extended warranties to ensure you are set up for success after the sale.
7. Delivery
Once the buying process is complete, the moment you have been waiting for is here — the delivery of your new yacht. Ask your broker or dealership what to expect after closing. You’ll want to make sure you have a complete rundown of system operations before getting behind the helm. Also, be sure to ask about scheduling maintenance or repairs when the time comes. It’s better to get a head start on annual maintenance requirements. Now it’s time to enjoy your new yacht purchase with family and friends.
Buying a New Yacht with Galati Yacht Sales
The Galati Difference is a term we use to describe the level of service that we believe each and every one of our clients deserves. The truth is that the only difference between ordinary and extraordinary is that little extra. Galati Yacht Sales provides our clients with the best support on the Gulf Coast and beyond. We provide closing services for over 600 transactions annually, all unique to the buyers and products purchased. Our team will ensure the closing process is performed with the highest levels of integrity. We pledge to continue making your purchase experience the best available our industry offers. Our knowledgeable and professional staff works with other industry relationships to ensure we are providing consumers with a seamless closing solution.
Also, when you purchase a new yacht from Galati Yacht Sales and take delivery from our marina, you get a red-carpet delivery unlike you would anywhere else. In addition, we offer maintenance services on what we sell. Our service team is solely dedicated to our Galati customers on new yacht purchases. Our entire company strives every day to continually exceed your exceptions, before, during, and after the sale. Contact us today for more information.
