2025 Boat Buying Guide: What to Know Before Buying a Boat

Owning a boat is a great way to enjoy the outdoors and create memories with family or friends. Whether you’re looking to buy your first boat or are ready for an upgrade, buying a boat is a big investment, and you may want to avoid buying the first boat you see. You need to make sure you’re finding the best boat for your needs.

So, how do you know what boat is the right boat? The answer will vary for everyone, but with the help of our first-time boat buyer guide below, you can go into the buying process more confident and well-informed.

What Type of Boat Should I Buy?

There are different types of powerboats, each with a unique design and special advantages on the water. Here are the different types of boats to consider when shopping for a luxurious and reliable powerboat:

1. Bowrider

Formula Boats’ line of Bowriders are reliable speedboats known for their streamlined bow design, which makes cutting through the waves smooth. They have ample room at the bow and more exposed seating areas. Bowriders are versatile and can be used for cruising, fishing and water sports.

2. Crossover Bowrider

The Crossover Bowrider (CBR) is similar to the standard Bowrider in everything except space and cabin. While standard Bowriders are perfect for daytime cruising, the crossover models offer overnight capabilities with spacious cabins. CBR boats are specially designed for comfort and extended trips. If you enjoy water sports, the 330 Crossover Bowrider provides an experience closer to the standard Bowrider.

3. Super Sport Crossover

The Super Sport Crossover lineup from Formula Boats features a series of premier luxury boats with plenty of deck room, comfortable cabins and diverse amenities. Depending on your preference, you can choose between the Super Sport Crossover and the All Sport Crossover models. These are large boats that offer adventure and a home-away-from-home experience.

4. Center Console

The Center Console Boats are vessels designed to blend fishing and water sports. These luxury boats feature a central steering station that offers a 360-degree view. They also have ample room with lounge areas for a comfortable sports fishing experience and adventurous cruising. The hardtops and windshields make for a splash-free environment.

5. Sun Sport

The Sun Sport series features luxurious dayboats with a sleek build and a combination of comfort and adventure. If you’re looking for a balance between the luxury experience of a Super Sport Crossover and the water sports capabilities of a Bowrider, the Sun Sport is the ideal boat for you. It offers on-deck and below-deck space, shaded lounge areas and various amenities to enhance your time on water.

Should I Buy a New Boat or a Preowned Boat?

One of the first things you need to know before buying a boat is whether you want a new or used boat. While buying a new boat is recommended, it may not always be realistic.

New Boats

A quick overview of new boats:

• Updated technology 
• No damage or malfunction history
• Warranty protection
• More options
• Higher cost

One of the most obvious benefits of purchasing a new boat is that it is in pristine condition. You will be its first owner, which means there was no one before you to damage, scratch or wear down the boat. Also, buying new means your boat will have the most current and updated technology, motor and design.

Another benefit of buying a new boat is that you are not limited to the types of boats available. You can shop from a wide selection to find the one that fits your needs. You may even be able to customize your dream boat.

New boats also come with a warranty, so if you experience malfunctions, you can feel at ease knowing the cost of your repairs is covered. Just inform your boat dealer, and they will work on fixing your issues.

Preowned Boats

A quick overview of used boats:

• Lower cost
• Proven to be durable
• Can research the reviews made over the years
• Need a marine survey
• Potential previous damage or misuse

Peace of mind and quality assurance come at a higher cost. If you’re looking to save money, a preowned boat may be a better option. Since preowned boats are older models, you can also research how the model has held up over time, and there is likely to be a lot of information available about the boat’s performance. 

When shopping for used boats, remember that the boat selection is limited. While there is a large market for used boats, the style of boat you are looking for may not be for sale. You may have to look for a different boat option or wait an extended period to finally find the boat you want.

Another downfall of preowned boats is the possibility of getting scammed. A seller may not always be honest, which can leave you with a boat that has a lot of issues. When looking at used boats for sale, you have to wonder why someone wants to sell their boat. Before agreeing to buy a used boat, it is best to have an official inspection, also known as a marine survey, done, so you can feel more confident the boat will perform as the former owner says it will. 

Whether you go the new or used route is entirely up to you and your boating needs. Once you know what market you are looking at, you can do some brief background research and find what boat options are available.

What Size Boat Should I Buy?

Boat sizes vary depending on factors like type, purpose and capacity. Still, they all fall within four size classes, which are:

• Class A: These are boats with a length of less than 16 feet.
• Class 1: These boats measure 16 to 26 feet long.
• Class 2: These boats measure between 26 and 40 feet long.
• Class 3: These boats measure 40 to 65 feet long.

Boats over 65 feet don’t have an official class. While size classes matter, the type of boat you choose also affects the size because different boat designs come with specific dimensions. For example, Sun Sport cruisers come in 31-foot and 35-foot models. If you’re looking for something larger, you could go with the Super Sport Crossover models that range from 38 to 50 feet.

Things to Consider When Choosing a Boat Size

Here are things to keep in mind to ensure you select the perfect boat size for your needs:

• Where you will use the boat: Do you plan to use your boat on rivers or lakes, or are you looking to boat on the ocean or sea? For ocean and sea boats, you’ll want to opt for a bigger size to handle unpredictable water. 
• What you will use the boat for: The recommended boat size will change depending on the activities you plan to use your boat for. Are you looking to fish, engage in water sports or cruise around? You’ll also want to consider how much space you will need to leave for necessary supplies. 
• How long you plan to spend on the water: Will you be on your boat for just a few hours, or do you plan to be out all day? Will you ever need to sleep on your boat? The longer you plan to be on your boat, the bigger you may want it to be so it can hold more amenities and make your boating experience more comfortable. You will want to make sure your boat has a cabin and other necessities if you plan to stay on your boat overnight.
• The number of people who will be on board: At some point, you will want to be able to bring other people onto your boat. If you plan to only have a few people on board at a time, a smaller boat may be ok. But, if you’re looking to host a group of friends or take a family outing, you’ll want to make sure your boat is big enough to safely and comfortably fit everyone.

One of the most common first-time boat buyer mistakes is purchasing the wrong size boat. You’ll want to get a professional opinion from a reputable boat dealer. Discuss your intended uses, and they can help you find the boat size that perfectly accommodates your needs. 

What’s the Intended Use?

The way you plan to use your boat will affect the kind of boat you need. Do you plan to use your boat for water sports? What about fishing? Are you looking for a sailboat or a motorboat? The answers to all of these questions will help guide you in finding your perfect boat. 

You will also want to consider your own boating skills when boat shopping. Do you have beginner, intermediate or advanced boating skills? You want to feel confident you can use and handle your boat. If you have advanced boat skills, you can consider buying a boat model with more advanced and sophisticated technology. 

Another aspect to consider is where you plan to store your boat. Will your boat be docked year-round, or do you plan to store it somewhere else? If you need to transport your boat, you will also need to consider how your car will handle towing and what type of trailer you will use to haul your boat.

Purchase and Maintenance Costs

Even if you score an amazing deal, purchasing a boat is a significant financial commitment. Owning a boat is fun, but you must be fully aware of the costs associated with being a responsible boat owner.

The first cost comes with purchasing the boat. Will you be paying in full up front, or will you need financing? Many people choose to finance. Some options include taking a bank loan, arranging dealer financing or getting a loan with a marine lender. 

Getting approved for a boat loan is similar to getting approved for a car loan. Lenders will consider your credit score, debt-to-income ratio, net worth, job stability and homeownership stability. Even with financing, you may still need to pay a down payment. Down payments tend to be around 10%-20% of the total loan amount.

Once you are approved for a loan and purchase your boat, you will make monthly scheduled payments to pay off your loan. Expenses on top of your monthly payment include:

• Maintenance: Keeping your boat in top condition is important and requires some investment. Maintenance can include washing, cleaning, servicing and detailing. 
• Gas: On average, gas prices are higher at a marina dock than they are on land. Fox Business reports that the average cost to fill up a boat in 2022 is $600, but the amount can fluctuate depending on your boat size and how fast you like to go.
• Dry docking: To keep your boat performing its best, it is optimal to store your boat out of water. You will need to pay for a space to store your boat and a boat lift to remove your boat from the water safely. 
• Cleaning: You can get your boat cleaned professionally, or you can take on cleaning yourself. However, cleaning yourself is not always cheaper, as you’ll still need to purchase boat-specific cleaning supplies. How often and how deeply you need to clean depends on your location and how often you use your boat. 
• Insurance: Your insurance payment will depend on a few factors like the type of boat you own, the age and condition of your boat and your location. Typically, insurance is around $200-$500 a year or 1%-5% of the boat’s value for extra-large or expensive boats.
• Winter storage: Storage costs will vary depending on your location and boat size. Prices will also vary depending on whether you choose to store your boat inside or outside. 

Where to Store Your Boat

You want to ensure you are properly taking care of your boat to keep it running the best it can and get the most out of your money. One of the best ways to keep your boat in good condition is through proper storage.

Three common boat storage options include in-water storage, outdoor dry docking and indoor dry docking. How you choose to dock your boat is up to you, but dry docking is recommended, especially if you live in an area with harsh winters.

In-water storage is a good option if you live in an area with very mild winters or if you are able to completely winterize your boat. Winterizing a boat has many steps, including finding a durable, tightly fitting cover and replacing any water in the boat’s system with antifreeze to prevent ice formation.

Dry docking removes the boat from the water and stores it on land, either indoors or outdoors. Outdoor dry docking is the cheaper option, but you will want to make sure your boat is properly covered to protect it from any weather. You can either dry dock your boat at an outdoor boat storage facility or in your yard if you have the space. You will want to ensure your boat is properly secured by a fence, security cameras or another security measure. 

Indoor dry docking is the most expensive option, but it also provides your boat with the most protection and helps extend its lifespan. Storing your boat indoors ensures it is completely protected from any damaging weather. Finding a storage area with enough space available may take time and effort. If you have a garage, you could dry dock your boat yourself by storing it inside your garage. 

Common Mistakes When Buying a Boat

If you’re new to boating, you may need to know what questions to ask or consider when buying a boat. Common first-time boat buyer mistakes include:

• Choosing the wrong boat size: Purchasing a new boat is exciting, but don’t let your excitement lead you to buy a boat that is too large for your needs. Consider your boating skills and what size boat you truly need. A large boat requires more maintenance and may require more experienced boating skills. However, you also want to avoid buying a boat that is too small if you plan to have others join you on the water. 
• Failure to consider future needs: As mentioned before, a boat is an investment. You will likely have your boat for years, so you want to buy a boat that can meet your needs now and continue to meet your needs in the future. Thinking about how you plan to use your boat and considering how you will want to use your boat in a few years can help determine which boat styles you should and should not buy.
• Inadequate research: You want to enter the market as an educated buyer. Especially if you are looking at used boats, you need to know what to look for when boat shopping to ensure you get the best deal. Taking the time to research will help you feel confident in your purchase. 
• Not budgeting correctly: Remember, owning a boat is more than just the monthly payments. You need to ensure you can afford all maintenance, cleaning, insurance, gas and docking fees. Consider these fees when budgeting for your boat so you can plan manageable monthly payments. 

Explore Formula Boat Options

Are you ready to become a boat owner? Explore our large collection of high-quality boats and find the perfect boat for you. With customization options available on all of our new boat models, you can feel confident your boat will cater to all your personal needs. If you’re looking to buy used, our preowned boat inventory offers high-quality used boats at affordable prices. 

 Start enjoying luxurious boating fun today by shopping our online catalog or finding a Formula Boats dealer near you.