Should You Trade In Your Boat Or Sell It?

In Key Largo, boats are almost always for fun. Boatowners enjoy all features of their boat when the match is perfect. But what happens when the match is no longer right? Maybe you want to go fishing more, but your family is switching its interests to water sports. Or perhaps growing kids or grandkids want to join you on your favorite boat - and it is time for a size upgrade.

No matter your reason, trading in your boat shouldn't be difficult. You are not the first to need to trade in your boat for one that better suits your current needs and waterside lifestyle. Whether you are looking to trade in your boat for one better equipped for your new adventures, Riva Motorsports & Marine of the Keys has a selection ready for browsing.

First, let's talk about what goes into selling your boat independently vs. a trade-in with a boat dealer.

Selling Your Boat

When it comes time to sell your boat, it is important to know the next steps. Most people know how to sell a used car, but selling a used boat is a little different. In Key Largo, Florida, selling your boat or trading in is about as normal as doing the same with a car. All you need is a ready buyer or a boat trade-in dealer. 

Selling Your Boat Yourself

Selling your boat privately will require you to identify the resale value of your boat, list it locally to find a nearby buyer, and handle the transaction yourself. You may wind up dealing with a large cash purchase, but, more likely, your buyer will take out a customary boat loan to pay you the full amount.

How to Price Your Boat

To price your boat solo, start with the Kelley Blue Book price for the make, model, and year. Then calculate the boat's condition and whether you've made improvements or have some wear-and-tear to consider.

Where to Sell Your Boat

Most people sell their boats by listing them with online boat-buying marketplaces. If you search for places to sell a used boat in Key Largo, you will likely find the right place to list.

When to Sell Your Boat

The best time to sell your boat to a private buyer is early spring and late fall. This is when demand is highest, and many boat buyers are looking for something new.

Trading In Your Boat

Trading in your boat is a smooth and easy process in comparison because you are working with a boat dealer who is ready to handle almost 100% of the process on your behalf.

Working With a Key Largo Boat Dealer

Selling your boat by choosing to trade in provides the convenience of working with a boat trade-in dealer. A Key Largo boat dealer can price your boat and handle any maintenance concerns in-house, which means a worry-free sale. Your boat dealer will also have a great selection of boats for your trade-in or trade-up.

Assistance with Boat Loans

If there is still a balance on your boat loan, don't worry. An experienced boat trade-in dealer will know how to help you close your previous loan during your trade-in process.

Tax Advantages for Boat Trade-Ins

Trading in your boat also offers tax advantages. You are only required to pay taxes on the new boat's price minus the trade-in value. So trading up only costs the difference in both taxes and cash.

Boat Trade-In Frequently Asked Question

"Where Can I Trade In My Boat?"

You can trade in your boat with most local boat dealers. Riva Motorsports & Marine of the Keys is always available to help you price your boat and select a trade-in that better suits your new needs - whether that's a larger boat., a different kind of boat, or something else entirely.

"Can You Trade In a Car for a Boat?"

Absolutely, yes. At Riva Motorsports & Marine of the Keys, you can trade in any motorsports vehicle for any other on the lot, meaning you can trade your boat in for a motorcycle, ATVs, UTVs, jet skis, or even golf carts if that is what will bring new delight to your recreation or household.

"How Much is My Boat Worth on Trade-In?"

Upon bringing your boat to Riva Motorsports & Marine of the Keys, we can give you a fair estimate for any boat or motorsports vehicle at the beginning of your trade-in process.

Shop for Your Next Adventure in South Florida with Riva Motorsports & Marine of the Keys

If you are in the market to trade in your boat for something bigger or uniquely better, shop for your next adventure with Riva Motorsports & Marine of the Keys. As a boat trade-in dealer, our experienced staff will give you a concierge boat trade-in experience, helping with pricing, selection, financing, and logistics to achieve the greatest satisfaction. 

Whether you choose to trade in for a new boat or a land-based motorsports adventure, Riva Motorsports & Marine of the Keys is here to help you find your next joyful South Florida adventure. 

Image Credit to Maciej Majewski / CandyRetriever