Trading in a boat is the best way to sell your boat. The process is simple as it eliminates all of the hard work on your part.
You bring the boat to a dealer; they use their experience to determine the boat’s value and apply the cost to your new boat.
If there is anything to fix, the dealer sorts it out. Depending on your state, you may enjoy tax benefits since you pay the sales tax only.
Can You Trade in a Boat for a New Boat?
You can sell a boat to buy a new boat if your dealer offers this option. In such cases, you skip the hassles of selling your boat to a private dealer. It’s easier to manage potential buyers, surveys, and sea trials. You don’t have to transport the boat to the new owner, and you may gain some sales tax benefits.
Do Boat Dealers Take Trade Ins?
Most dealers accept used boats for trade-ins to facilitate the sale of a new boat. They refurbish the boat before listing it for sale and advertise their trade-ins at good prices. This allows them to recover the repair cost and maximize profits.
Other boat dealers have age restrictions. For instance, some dealers accept trade-ins for boats five years old or newer. They don’t want the financial risk of handling used boats in their inventory.
How To Trade in a Boat
Here is how to trade in your boat:
- Determine the Type of Boat You Want To Buy Next. Consult your boat dealer to understand what options they have in store.
- Clean and Detail Your Boat Before Presenting It to Your Dealer. This helps make your boat more appealing and may increase its value.
- Request a Trade-in Valuation for Your Used Boat From Your Dealer. Let the dealer assess your boat’s condition and estimate the final value.
- Negotiate the trade-in price to get the best deal for your boat.
How To Determine Boat Trade-in Value
Follow these tips to determine your boat’s trade-in value:
- Check your boat’s value online using the BOS, NADA, and ABOS guidelines. These act as the official bluebook for various types of boats.
- Select a trustworthy and reputable boat Such dealers have experience and various tools or technologies to help determine your boat’s trade-in value based on factors like age and condition.
- Check the internet and local boat listings to understand your boat’s worth.
What To Expect When Trading in a Boat
Some of the best used boats for sale you’ll get in a trade-in include:
Who Buys Used Boats?
There are many boat dealers and brokers who buy used boats. They offer varying prices depending on your boat’s make, model, condition and age. If you are looking to trade, FYI in Miami has a worldwide inventory of boats for sale.
If you’re looking to sell a used boat or yacht, our sales representatives at Florida Yacht International are ready to help. We are the best boat dealer in Miami that specializes in selling and buying all kinds of boats at incredible prices. Call 305-239-4978 today to speak with one of our expert yacht consultants. You may also contact us online.