--- title: 5 Questions to Ask Yourself Before Buying a Boat description: Here are 5 questions to ask yourself before buying a boat to make sure you are fully prepared for this exciting purchase! image: https://blog.carolinatrust.org/hubfs/Buying-a-boat-doesnt-have-to-be-difficult.jpg --- [![Carolina Trust Credit Union](https://blog.carolinatrust.org/hs-fs/hubfs/CarolinaTrust_December2019%20Theme/Images/ctfcu-logo-white-v2.png?width=153&name=ctfcu-logo-white-v2.png "Carolina Trust Credit Union") ![Carolina Trust Credit Union](https://blog.carolinatrust.org/hubfs/CarolinaTrust_December2019%20Theme/Images/ctfcu-logo-white-v2.png "Carolina Trust Credit Union") ](https://www.carolinatrust.org/) Routing Number #253279510 [Book Appointment](https://booknow.appointment-plus.com/b986s4ey/) [Contact Us](https://www.carolinatrust.org/contact) [Login](https://carolinatrustfcu.financialhost.org/Login) [![Carolina Trust Credit Union](https://blog.carolinatrust.org/hubfs/CarolinaTrust_December2019%20Theme/Images/ctfcu-logo-white-v2.png "Carolina Trust Credit Union") ![Carolina Trust Credit Union](https://blog.carolinatrust.org/hubfs/CarolinaTrust_December2019%20Theme/Images/ctfcu-logo-white-v2.png "Carolina Trust Credit Union") ](https://www.carolinatrust.org/) Routing Number #253279510 [Book Appointment](https://booknow.appointment-plus.com/b986s4ey/) [Contact Us](https://www.carolinatrust.org/contact) [Login](https://carolinatrustfcu.financialhost.org/Login) × Close search Search Search Submit ## Carolina Trust FCU Blog ![Buying-a-boat-doesnt-have-to-be-difficult](https://blog.carolinatrust.org/hs-fs/hubfs/Buying-a-boat-doesnt-have-to-be-difficult.jpg?width=600&height=300&name=Buying-a-boat-doesnt-have-to-be-difficult.jpg) # 5 Questions to Ask Yourself Before Buying a Boat Posted by [Carolina Trust Federal Credit Union](https://blog.carolinatrust.org/blog/author/carolina-trust-federal-credit-union) on Jan 9, 2025 8:30:00 AM - [Tweet](https://twitter.com/share) Approximately 100 million Americans spend time on the water and recreational boating increased by 35 percent since 2018. Buying a boat ranks high on people’s lifestyle lists, as more than 260,000 were purchased last year alone. But some families still have financial and other reservations about buying a boat. In order to make an informed decision about owning a watercraft of your own, consider the following.   ## Buying a Boat is a Big Investment: Are You Prepared? Although the average cost of a boat hovers around $42,000, prices vary widely. Used boats can be acquired for under $10,000 and large, top-tier models can run into the millions. It may come as something of a surprise, but these statistics support the fact that an increased number of average households are buying boats for recreational activities. - Nearly 12 percent of households own at least one boat. - Millennials comprise more than 31 percent of all boaters. -  Approximately 95 percent of recreational watercraft are under 26 feet long. - More than 60 percent of boat owners have household incomes under $100,000. First-time buyers account for 31 percent of annual sales and 35 percent of all pre-owned boats. Those statistics seem to indicate a great many community members are diving into buying a boat. But before shopping for the right size and style, it’s essential to think through a few questions. ## Questions to Ask Before Buying a Boat Because buying a boat can involve a significant investment, it’s important to make reasonably sure it's right for you. To put that idea in context, think about all the fifth wheels, RVs, and motorhomes parked in front yards with for sale signs. How many owners bought the recreational vehicle impulsively, believing they would explore America’s parks, beaches, and picturesque landscapes? Rather than hastily put down a deposit and make monthly installments on a boat loan, consider the following.    ### What Will I Use the Boat For? What you plan to use your new or pre-owned watercraft for can be a driving force behind the purchase.  The top reason people own boats is to get away from hectic life and relax. Having a watercraft allows people to get outside cell phone range and engage in a rewarding leisure activity. Fishing continues to rank among the most prevalent uses of boats. As they say, a bad day of fishing is better than a good day at work. The point of considering what you will use the boat for trails back to return on investment. Will you get out on the water often enough to make the purchase worthwhile, or will it end up in your front yard with a for sale sign? ### What is My Budget? It’s typically not difficult to fit buying a boat into a monthly budget. Consider reviewing your monthly finances to determine how much you can comfortably afford by using a boat loan calculator. Then add approximately 10 percent to cover the cost of ordinary repairs, upkeep, and mooring fees. Change up the numbers regarding down payment, repayment period, and other factors to zero-in on how much boat you can afford. ### Where Will I Use the Boat? Location plays an important role in buying a boat because it determines whether you’ll need winter storage or incur other expenses. For example, the decision to join a yacht club or dock the boat at a local slip involves paying a few monthly fees. By that same token, you may gain some nice perks and a sense of boater's camaraderie. If you decide to keep the craft at home and haul it to area boat ramps, you’ll likely need to register a trailer. Where you use the boat may also influence how often you find yourself relaxing on the water. ### How Much Time Can I Devote to Maintenance and Upkeep? Properly maintaining a boat does not necessarily require a significant time investment. It does, however, call for consistency. Before taking a craft out on the water, owners and operators follow a boat checklist to ensure that safety and critical elements function. These include fluids, batteries, cables, fuel lines, propellers, electronics, and the condition of the hull, among others. After returning from an excursion, most vessels need a good hosing down or scrubbing. It’s also important to set aside time for regular maintenance every 100 hours of use or at least once annually. ### Am I Comfortable with Boating Safety and Regulations? Before operating a boat, you will need to learn basic boating safety as well as state and federal regulations. Most states ensure everyone knows how to safely negotiate open water by requiring operators to get a boating safety card. There are online safety courses available to help educate first-time boat owners. If you’ve answered these questions for yourself and feel passionate about buying a boat, it may be the right quality-of-life investment for you. ## Carolina Trust Is Here to Help! If you are ready to take the plunge and make your boat dreams a reality, Carolina Trust has a [Boat Loan](https://www.carolinatrust.org/loans/vehicle-loans/boat-loans/) that can help! If you have any questions, [please contact us](https://www.carolinatrust.org/about-us/contact-us/) today! Topics: [Recreational Vehicle Lending](https://blog.carolinatrust.org/blog/tag/recreational-vehicle-lending) ## Carolina Trust Federal Credit Union Blog  Welcome to the Carolina Trust Federal Credit Union Blog! We're excited to share financial tips and information for a variety of different topics. ### Subscribe Here! ### Recent Posts ### Posts by Tag - [Personal Finance (158)](https://blog.carolinatrust.org/blog/tag/personal-finance) - [Seasonal (98)](https://blog.carolinatrust.org/blog/tag/seasonal) - [Home, Life & School (87)](https://blog.carolinatrust.org/blog/tag/home-life-school) - [Home Loans (21)](https://blog.carolinatrust.org/blog/tag/home-loans) - [Real Estate & Home Buying (21)](https://blog.carolinatrust.org/blog/tag/real-estate-home-buying) - [Auto Loans & Car Buying (13)](https://blog.carolinatrust.org/blog/tag/auto-loans-car-buying) - [Coastal Carolina University (11)](https://blog.carolinatrust.org/blog/tag/coastal-carolina-university) - [Credit Cards (10)](https://blog.carolinatrust.org/blog/tag/credit-cards) - [Debt Consolidation (10)](https://blog.carolinatrust.org/blog/tag/debt-consolidation) - [Home Improvement Loans (10)](https://blog.carolinatrust.org/blog/tag/home-improvement-loans) - [Youth Financial Literacy (10)](https://blog.carolinatrust.org/blog/tag/youth-financial-literacy) - [Commercial Lending (8)](https://blog.carolinatrust.org/blog/tag/commercial-lending) - [Credit Building (7)](https://blog.carolinatrust.org/blog/tag/credit-building) - [Home Equity (6)](https://blog.carolinatrust.org/blog/tag/home-equity) - [Identity Protection & Security (5)](https://blog.carolinatrust.org/blog/tag/identity-protection-security) - [Personal Loans (5)](https://blog.carolinatrust.org/blog/tag/personal-loans) - [Investing & Retirement (4)](https://blog.carolinatrust.org/blog/tag/investing-retirement) - [Home Improvement (3)](https://blog.carolinatrust.org/blog/tag/home-improvement) - [Recreational Vehicle Lending (3)](https://blog.carolinatrust.org/blog/tag/recreational-vehicle-lending) [See all](https://blog.carolinatrust.org/blog/questions-to-ask-yourself-before-buying-a-boat#) ![swoosh](https://blog.carolinatrust.org/hs-fs/hubfs/CarolinaTrust_December2019%20Theme/Images/img-swoosh-footer.png?width=2000&height=63&name=img-swoosh-footer.png) [![EHL and NCUA](https://blog.carolinatrust.org/hubfs/CarolinaTrust_December2019%20Theme/Images/EHL-and-NCUA-Logo-300x83.png "EHL and NCUA Logo") ](https://www.carolinatrust.org/2019/12/19/equal-housing-lender/) Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency [facebook ](https://www.facebook.com/carolinatrustfcu) [instagram ](https://instagram.com/carolinatrustfcu/) Carolina Trust Federal Credit Union is committed to the accessibility and usability of our website for everyone. If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at [ada@carolinatrust.org](mailto:ada@carolinatrust.org). All products and services available on this website are available at Carolina Trust Federal Credit Union branches. NMLS # 410644 © 2026  Carolina Trust Federal Credit Union VPS   ## You are now leaving Carolina Trust Federal Credit Union **We have provided you with a link to another website that offers you greater access to information you may find helpful. Carolina Trust is not responsible for the website's information, content, products and services, accuracy or security and privacy policies.** In 6 seconds you will be redirected to   in 6 seconds... Click the link above to continue or [CANCEL](https://blog.carolinatrust.org/blog/questions-to-ask-yourself-before-buying-a-boat#)