In a country surrounded by water is it any wonder so many Australians love their boats?
|Finding the right boat|
The search can be almost as much fun as your first day at the helm. People love talking about their boats and you’ll find more opinions on a dock than you will listening to talk radio.
Those opinions can be helpful (and sometimes not) but finding the right boat for you is about narrowing your search.
Apart from budget, the first thing to think about is how you’ll use your boat, most of the time. The reason we emphasise most of the time is that, like many things, boating is about compromise.
It’s likely there’s no perfect boat. If you’re going to spend 90% of your time fishing, 5% entertaining and 5% spending weekends onboard, then consider carefully the need for the two-cabin layout with sleeping for six!
The key is making sure the boat is most suitable for what you’ll do most of the time. You also need to buy a boat that’s capable of going where you want to go.
So consider if you want to:
Answering those questions will narrow down the search, if you’re after a day boat then a cabin maybe superfluous, however, you may also want a bit of cover.
Types of boats
They come in all shapes, sizes and materials; including timber, aluminium, steel, concrete, fibreglass, polyurethane, carbon fibre and plastic.
In terms of types of boats and their uses here are some basics.
This is by no means a complete list and many of these boats are multi-purpose The more boats you see, the more you’ll begin to understand what suits you. Every year there are boat shows across the country which will feature the latest craft available.
Will you keep the boat on a trailer or in the water?
This decision has both practical and financial implications. Obviously some boats are simply too big to be carried on a trailer. You will also need to consider the capacity of your towing vehicle.
Keeping your boat on a wharf or a mooring is a step up in terms of expense. You’ll have to pay a fee for the berth or mooring and the boat will need to be regularly slipped and anti-fouled.
Depending on the design you may also face greater expense for engine maintenance, although this isn’t always the case.
Second-hand or new?
This will be a question of budget and your desire for a new craft and willingness to accept the almost inevitable depreciation that comes with buying new.
Buying new may save you the risk of buying someone else’s headache, but then there are ways to avoid buying a lemon.
Boats are sold privately or through dealers or brokers. There are countless boats on the market and you can do a lot of searching via the web. Sites such as boatpoint and boatsales list thousands of boats.
You can narrow your search based on type, use, length, location and price. Both sites also feature regular reviews from experts.
|Buying the boat|
So you think you’ve found the right boat for you. Now’s the time to take a deep breath and make sure.
You should obviously make your initial search thorough. And hopefully you’ve inspected a number of similar makes and models so you have an indication of what is and isn’t good value.
Some things to consider:
This search may reveal potential problems and you can then eliminate any boat which you feel could be costly to repair or a risk on the water.
Remember, the lives of everyone on board depend on the structural integrity of your boat.
If you still think you’ve found the right boat then it may be time to employ a professional surveyor. These experts can examine your boat and deliver a detailed report of any potential problems.
If the boat’s in the water, you’ll need to pay to have it slipped. Often you can negotiate to have this cost deducted from the purchase price if you proceed with the deal. So it’s best to negotiate the price first and pay a deposit. The deposit should be held in trust and you should obtain a written agreement that it’s refundable if you change your mind based on the survey.
Sometimes the survey will reveal real problems, while other times it may pick up some issues that are easily rectified and you can negotiate to have these done prior to taking ownership.
If you’re looking for a surveyor you can go through the Marine Surveyors Association.
Finally, before you hand over your cash - do a REVS check to ensure there’s no money owing on the vessel.
|How we can help|
At ANZ we have a range of finance options and insurance solutions, which may help you get out on the water and protect your new asset.
An ANZ Personal Loan could get you on the water sooner and you can choose from a variable or fixed-rate Personal Loan that suits you.
ANZ Loan Protection: help to meet your repayments for your Personal Loan should the unexpected happen1. If you have loan protection in conjunction with an ANZ Personal Loan, for the term of the loan, you may be entitled to a discount on the interest rate of the loan.
ANZ savings accounts: if you need to save to buy your dream boat, we could have the savings account to suit you:
1. ANZ Loan Protection is underwritten by OnePath Life Limited (OnePath Life) ABN 33 009 657 176 and QBE Insurance (Australia) Ltd ABN 78 003 191 035. Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522) is an authorised deposit taking institution (bank) under the Banking Act 1959 (Cth). OnePath Life is owned by ANZ it is the co-issuer of the product (along with QBE Insurance (Australia) Limited ABN 78 003 191 035 AFSL 239545) but it is not a bank. Except as set out in the issuer's contract terms (including the Product Disclosure Statement), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuers. Terms and Conditions apply. View further details and important information. It is important that you read and understand the Product Disclosure Statement including terms, conditions and limits (PDF 288kB).
2. The ANZ Progress Saver account pays bonus interest in addition to the current base interest when you make a single deposit of $10 or more per month and make no withdrawals or debits in that same month. Month commences on account opening date.
3. ANZ Online Saver is only open to customers who are the account holders of, or signatories to, eligible ANZ deposit accounts with ANZ Internet Banking and/or ANZ Phone Banking access. Eligible accounts include ANZ Access Advantage, ANZ Access Select, ANZ Access Basic, ANZ Access Deeming, ANZ Progress Saver, ANZ V2 PLUS, ANZ Premium Cash Management Account and ANZ Everyday Visa Debit. Terms and conditions and fees and charges apply to the eligible account.
Terms and conditions are available on application. Fees and charges apply.
The information provided is general information only and does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Before making any decision to acquire, hold or sell any financial product, ANZ strongly recommends that you seek financial planning and/or tax advice and read ANZ’s Financial Services Guide (PDF 104kB), the relevant Product Disclosure Statement and/or Terms and Conditions.