Buying a Pleasure Boat: The Expenses to Anticipate

Between 10,000 and 300,000 euros for buying a boat, or even more

Individuals seeking to purchase a boat can opt for either a new or used vessel. Similar to automobiles, classifieds websites are filled with opportunities, ranging from a few hundred euros for an old small boat to several million euros for a new yacht, with custom options.

In the used market, a 1980s Beneteau Caplean or Forban or Ombrine 600 can be found around 2500 to 3000 €. Prices can quickly escalate depending on the date and type of vessel. A recent First 20 sailboat, for instance, may be negotiated around 30,000 euros, while a 6 meters Barracuda 7 with a 150 CV engine would be around 45,000 euros. At Jeanneau, a late 1990s Cap Camarat or a Sun Odyssey sailboat can be found for less than 20,000 euros. It all depends on what one is looking for.

For those with a significant budget to invest, the choices are even broader. For a budget of one to two million euros and more, one could opt for a recent 15 to 20 meters sport yacht.

The Jeanneau Yacht 55, a 17 meter yacht sailboat, offers 8 berths including 2 private cabins, as well as a covered outdoor dining area. Expected purchase budget: approximately 1 million euros. The Grand Trawler 62 from Beneteau, designed for 6 to 8 people, is priced around the region of 2 million euros. For this amount, you can enjoy a large living room, a double deck with a spacious outdoor area, a separated kitchen, and several cabins including a beautiful suite.

Every purchase should come with a thorough evaluation, taking into account size, type, overall condition, and the specific needs of the future owner.

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How to finance your boat: credit and lease with option to buy

To finance the purchase of a boat, several types of nautical loans are available, each with its own pros and cons.

Personal Loan

A personal loan is a flexible option for financing a boat purchase. Unsecured, it allows the funds to be used for various expenses, but often at a higher interest rate, between 3% and 6%. The procedure is quick and less burdensome, but the monthly payments can be high due to a shorter repayment period.

Allocated Loan

The allocated loan is specifically intended for the purchase of a boat. It offers lower interest rates as it is secured by the boat's purchase. However, the funds must be used exclusively for the boat purchase, and the approval process may be stricter.

nautical Leasing

Nautical leasing, or lease-purchase, allows for the rental of a boat with a purchase option at the end of the contract. This option offers financial flexibility with often lower monthly payments. At the end of the leasing period, the boat can be acquired for a favorable residual value. However, usage restrictions and termination penalties may apply.

Bridge Loan

The bridge loan is useful for those wishing to buy a new boat before selling the old one. This type of loan finances the purchase of the new boat while waiting for the sale of the old one, thus avoiding interruptions in boat enjoyment. However, it carries risks if the old boat does not sell within the planned timeframe, resulting in additional costs.

Specialized Loans from Banks

Some banks, such as Crédit Maritime and Société Générale, offer loans specifically dedicated to boats. These loans often include preferential interest rates, extended repayment periods, and additional services, such as personalized advice. Comparing offers and reading the terms and conditions carefully is essential to avoid surprises.

Budgeting for boat insurance costs

Sailing without insurance is a recklessness that no wise sailor would commit! The uncertainties of the capricious and unpredictable sea make the subscription to boat insurance essential. It covers damages, theft, civil liability, and accidents at sea.

The cost of insurance depends on several factors: the value of the boat, its age, type, use, and sailing area. On average, an owner can expect to pay between 500 and 3,000 euros per year for comprehensive coverage. Sailboats, often perceived as less risky than motorboats, may benefit from slightly lower premiums. However, each owner must carefully examine the contract clauses to avoid unpleasant surprises.

Most major insurance companies offer specialized contracts: Generali, April, Axa... To estimate the one that meets your needs, specialized online comparison tools can help you.

Marina and docking fees: not to be neglected

Once the boat has been purchased, you need to think about docking, this place where the vessel rests peacefully while awaiting the next outing. Marinas offer various services such as electricity, water, security, and sometimes even repair facilities. However, spaces are often scarce... And expensive! When the boat is not sold with its ring, or if you want to dock it in a specific port, it is strongly recommended to inquire about availability... and costs!

The docking fees vary considerably depending on the location and length of the boat. In the prestigious marinas of the French Riviera, a space can cost up to 10,000 euros per year for a medium-sized yacht. Conversely, in less frequented ports, these fees can drop to less than 1,000 euros per year. Some owners prefer floating moorings, which are less expensive but less secure, especially during storm season.

These rates often include water and access to sanitary facilities, but electricity can be charged based on consumption for extended stays. In addition to these base fees, other costs may apply for additional services, such as winter storage and dry storage or mooring buoys.

On average, dry storage costs between 1,500 and 4,000 euros per year. Some marinas also offer put-in and take-out services for an additional fee. The transport of the boat to the storage location, if it is far away, must also be taken into account.

The maintenance and upkeep costs of boats

A boat requires constant care to not only preserve its beauty, but also its functionality. Regular maintenance includes cleaning the hull, applying antifouling, checking the electrical and mechanical systems, and repairing any potential damages.

The annual cost of maintenance can hugely vary depending on the size and condition of the boat. This fact can hugely impact an investment decision: it may be better to buy a slightly more expensive, newer boat than to end up spending a lot of money on refurbishments and repairs.

Sailboats, with their complex rigging, may require special care, while the engines of motorboats necessitate frequent inspections.

Equipment and accessories

A boat usually needs to be equipped to handle unexpected situations and offer optimal comfort. Safety equipment, such as life jackets, fire extinguishers, and distress beacons, are necessary. To these, navigation instruments are added like the GPS, VHF radio, and depth sounder, which are essential for safe navigation.

The cost of these equipments can amount to several thousand euros. A complete set of safety and navigation for a medium-sized boat can cost between 5,000 and 10,000 euros. Comfort accessories, although not essential, add a touch of luxury: furniture, appliances, and audio systems can significantly increase the budget.

Fuel and consumables: up to several hundred euros per day

Fuel consumption is a recurring expense for motorboat owners. The cost depends on the frequency of use and the distance covered. On average, a leisure boat engine consumes around 20 liters per hour. Therefore, a day of boating can easily cost several hundred euros in fuel.

In addition to fuel, there are consumables such as engine oil, cleaning products, and replacement parts. Although these costs are often overlooked, they quickly add up. An annual budget of 1,000 to 2,000 euros for consumables is a reasonable estimate for a medium-sized boat.

Taxes and administrative fees

Navigating legally involves paying various taxes and administrative fees. The Annual Francization and Navigation Right (DAFN), for example, is due each year for all boats registered in France. Its amount depends on the size and power of the boat. For a standard pleasure boat, this tax can vary from 200 to 1,000 euros per year.

The registration of the boat, on the other hand, is an essential formality, associated with administrative fees. Obtaining the necessary permits and seaworthiness certificates also incurs costs, often overlooked but essential. These procedures can cost between 100 and 500 euros depending on the case.