Buying a New Boat - Checklist

This handy guide will provide you with the essential questions that you should be asking your broker/dealer when purchasing a new boat - print this page out and take it with you.

Payment

• Is the retailer/dealer a member of an association (BMF, BRBA or ABYA) that requires its members to adhere to a code of practice?
• What are the payment arrangements/are there any stage payments?
• When does title in the boat pass over to you?
• What are the arrangements for payment and discharge of the finance?
• What title documentation will be provided - Part 1 Registration, Boat Builders Certificate, Bill of Sale, RCD compliance, invoice with proof of VAT payment?
• Can you view these documents in advance of completion?
• At what stage do you become responsible for the boat and liable for the payment of insurance and mooring fees?
• What are the arrangements for completion eg payment of monies, delivery/pick up, handover of keys and title documentation?

Contracts

This is a formal agreement between you and the seller. Don’t be tempted to buy a new boat without one, although if you are making a smaller purchase, such as a canoe or dinghy, you are unlikely to enter into a formal written agreement.

• Is the organisation using an approved standard contract such as the standard BMF/ABYA agreements?
• Is the contract subject to a sea trial and a survey or is there a Pre-Delivery Inspection note you can obtain?
• Does the contract contain a specification or inventory?
• Does your contract have an agreed delivery date, and detail any penalties if the delivery is delayed?

Finance

BMF Members that can help you include HSBC Marine Finance and Lombard

To find out how to finance your new boat

Post purchase

• Will the retailer/dealer take care of registration on your behalf?
  Are there any after sales services you can obtain?
• Is there a warranty in addition to your statutory rights?
• Can the retailer/dealer suggest any qualifications / training that you can embark on?

For further advice and information

Download the New and Used Boat Buyer’s Guide produced by the BMF and RYA packed with even more information.

Just pick up the phone to the company you are thinking of buying from and don’t be afraid to ask all you questions and iron out any potential worries.

Royal Yachting Association

If you are member of the RYA call their legal department for plenty of sound advice on sailing and power boats.

Pick up a boating magazine which often has articles on this type of thing.

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