Boat buying checklist

Work through the stages in order. Some items apply only to used boats or private sales; skip the ones that do not fit your purchase. Not every step is required by every lender or state, so treat this as a practical guide rather than a legal requirement list.

Tip: use your browser's print option (Ctrl+P or Cmd+P) to print this page or save it as a PDF, then check items off as you go.

1. Budget and numbers

• Decide on a comfortable monthly payment range, then estimate the boat budget it supports with the affordability calculator.
• Decide how much cash you can put down without draining your emergency savings. The down payment calculator shows how different amounts change the loan.
• Compare loan terms. A longer term lowers the estimated payment and typically increases total interest; see the loan term calculator.
• Add taxes, registration, dealer fees and any add-ons you plan to finance to the price, so your estimate reflects the full amount financed.
• Estimate yearly ownership costs: insurance, storage or slip fees, fuel, maintenance, winterization and trailer upkeep. Try the ownership cost calculator.
• Check your credit reports for errors before you apply for financing.

2. Choosing the boat

• Write down how you will use the boat: fishing, cruising, watersports, day trips or overnights, and how many people usually aboard.
• Decide where you will keep it (trailer at home, dry stack, marina slip) and confirm availability and cost.
• Check that your tow vehicle can safely handle the boat, trailer and gear if you plan to trailer.
• Decide whether to consider new, used or both. Compare scenarios with the new vs used boat calculator.
• Shortlist models and compare asking prices with valuation guides and comparable listings.
• Ask for an itemized quote (dealer) or the full equipment list and service records (private seller).
• Get an insurance quote on the specific boat before you commit.

3. Inspection

• Inspect the boat in person in good light: hull, deck, transom, stringers, upholstery, canvas and bilge.
• Arrange a sea trial and, if possible, start the engine cold.
• Test steering, throttle, trim, gauges, electronics, pumps, lights and safety equipment under way.
• For a used boat, hire an independent marine surveyor you choose yourself, and consider a separate engine survey.
• Ask whether your lender and insurer will accept the surveyor's report before you book.
• Review the survey findings and decide whether to renegotiate, ask for repairs or walk away.

4. Paperwork

• Match the HIN on the transom to the title, registration or Coast Guard documentation.
• Confirm the seller's name and ID match the ownership record.
• Check for any lien, and get a written payoff statement if there is one.
• Confirm engine serial numbers and the trailer title or registration, where your state requires one.
• Collect maintenance records, owner's manuals and warranty documents.
• Prepare a purchase agreement or buyer's order with contingencies for survey and financing.
• Draft or obtain the bill of sale, using your state's form if one exists.

5. Financing

• Run your final numbers in the boat payment calculator using the agreed price.
• Gather common application documents: ID, proof of income, and the purchase agreement or quote.
• Apply for financing, and ask how long any approval remains valid.
• Compare offers on amount financed, APR, term, monthly payment and total of payments.
• Ask about prepayment penalties and how extra principal payments are applied.
• Confirm what the lender needs before closing, such as a survey, proof of insurance or the title.

6. Closing and delivery

• Read the buyer's order or bill of sale line by line: price, fees, add-ons, trade-in, taxes and amount financed.
• Make sure the loan documents show the APR, term and payment you agreed to.
• Bind insurance coverage effective on the day you take possession.
• Pay through a traceable method or let the lender or escrow service handle the funds.
• Confirm any existing lien is paid off and a release is on its way.
• Do a final walkthrough to confirm all listed equipment is aboard.
• Get copies of every signed document, and keep the keys, manuals and spare parts together.

7. First season

• Complete title and registration transfer within your state's deadline and display registration numbers and decals.
• Check whether your state requires a boating education card for the operator.
• Confirm required safety gear: life jackets for everyone aboard, fire extinguisher, visual distress signals and sound device, as applicable.
• Set up automatic loan payments and note your first payment date.
• Schedule routine maintenance and keep a service log; it helps resale value later.
• Track your actual monthly costs against your ownership estimate and adjust your budget.
• If you plan to pay extra principal, see the effect with the extra payment calculator.

For more on each purchase path, see the guides to buying a used boat, buying from a dealer and buying from a private seller, and the overview of how boat financing works.