Guide to Purchasing a Boat

So you picked out the perfect boat, now what? 

At Pocket Yacht, we are committed to ensuring you have a seamless boat buying and delivery experience.

The following outlines the four major milestones that occur in the time between your decision on what boat you want and driving your new boat home:

 

1. Contract and Deposit – To solidify your new boat purchase, it will be necessary to put down a $5,000.00 (For boats under 29′) or $10,000.00 (for boats 29′ and over) deposit to secure a hold temporary hold on an in-stock or ordered boat. To take a boat off the market until closing or to order a boat, a purchase agreement must be signed. For ordered boats under 29 feet, a 10% deposit is required when the boat is 90 days from leaving the factory. For ordered boats over 29 feet, a 10% deposit is due upon signing a purchase agreement; it can be made via personal check or wire.

 

2. Financing and Insurance – We know that the purchase of a boat is a significant one. Our go-to financier is Lisa Di Domenico who has over 25 years of experience in the marine industry. Financing is an important step and you need a plan that will work with your budget.

You’ll make some of the best memories on the water in your new boat, but boating does come with some risks. Whether it be a storm or random accident, you need to be able to protect yourself and your property. That’s why our in-house insurance agent Liz Childs will work with you to get you the best product. Your policy will be tailored to your boat and region.

 

3. Closing – Once you have secured financing (if you are not paying cash) and insurance, it will be necessary to close financially on the boat by signing the final closing documents and transferring the final amount due by wire. If a boat is in stock, the closing should happen within 7 days of making the 10% deposit and if the boat is on order, it will happen 7 days prior to the boat shipping from the factory.

 

4. Delivery and Orientation – The delivery date is set up around the time of closing to ensure that you have adequate time to get to know your new boat. You’ll have time to use the boat while still at our marina. We require that you take delivery at one of our marinas initially so that if there are any items that need adjustment, they can be easily made. We want the boat to stay at our facility for at least 7 days in order for us to make any final adjustments. You will be given up to a full day’s worth of orientation on the boat’s systems while at the dock and then an additional half-day of Captain’s Training to familiarize you with your boat’s operation on the water. More training will be made available if you or the staff feels you may benefit. We want to create boaters, not just boat owners.

For our customers in the Mid-Atlantic Region – If you purchase your boat and close in the fall or winter months we are happy to store your boat and set you up for spring delivery.

 

Once these steps are complete, you will be ready to “Live Life at Sea Level” and take off on your next adventure.

Have a Question About Purchasing a Boat? Contact Us!