Boating Is Not Just For The Rich Affording A Boat On Any Income

Boating Is Not Just For The Rich: Affording A Boat On Any Income

In recent years, owning a boat has become more than affordable for most households. This is due to the fact that there are now lenders offering boat loans on both new and used boats. Finding a used boat for sale can become one of the most affordable options. Still think you can’t afford a boat? The majority of boat owners are within the middle-class spectrum and have a median household income less than $100,000 per year. If you can save up for a boat and pay cash, finding a used boat for sale with give you more options in a lower price range. If you cannot pay cash up front, both new and used boats can be financed through lenders.

Perks Of Owning A Boat: Recreational Boat Use For Everyone

So, you’ve figured out how to financially afford a boat. But still contemplating if owning a boat is right for your family? How often will it be used? Will it be worth the cost? How will I find a reputable boat dealer in the area? Finding used boats for sale is an easy task. A simple internet search will turn up hundreds of local boats for the choosing. Statistically, 95% of all Americans live within an hours drive of a body of water where a boat can be utilized. In addition, around ninety-five percent of boats on the water (including powerboats, personal watercraft, and sailboats) in the U.S. are small in size at less than 26 feet in length. Boats of these lengths can easily be trailered by a vehicle to local waterways. Getting a boat to and from the navigable waterways can be an easy task for the avid boater. In fact, the recreational boating industry in the U.S. has an annual economic impact of more than $121.5 billion including direct, indirect and induced spending. This includes directly supporting 650,000 direct and indirect American jobs and nearly 35,000 small businesses. With around 95 percent of boats sold in the U.S. being made in the U.S., a boat purchase would support American industry. Americans are already overworked as is, why not take advantage of a fun past time that allows your family to spend quality time together and enjoy the beautiful weather?

Boat Insurance? Planning For The Worst

Boat insurance is just as crucial as, say, homeowners insurance. If something goes wrong with property that you own, you want to make sure that it is covered by insurance. Many boat dealers that have used boats for sale can point you in the right direction when it comes to quality boat insurance. Astonishingly, boating property damage totaled approximately $49 million in 2016. Insurance is there to protect this damage and absorb many costs of paying for it directly out of pocket. Whether buying a new or used boat for sale, boat insurance is the best way to financial protect you and your new recreational vehicle.

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