How Much Does A Speed Boat Cost?

Outboard speed boats cost an average of 20,000 dollars for a basic model. Outboard speed boats cost less than inboard ones. An inboard speed boat can cost hundreds of thousands of dollars.

Speed boats are useful when racing above water. Their hulls are usually long and narrow, with wide outboard engines mounted on the rear. Multiple outboard motors are often strapped to the stern of the hull. But these boats can be used anywhere.

A speedboat is a nice gift for yourself as well as for your special one. Investing in a speedboat is a treat to yourself if you are an adrenaline junkie. But, before we dwell in speed boats, you must know its price.

How much do speed boat costs?

First of all, there are two types of speed boats – inboard and outboard. The motor of the vessel is inside of the boat in the case of inboard speed boats, just like a car. But in the case of outboard speed boats, a special motor is attached to the outside. This outboard motor is available in various horsepowers.

However, very few companies manufacture the inboard speed boat. Hence, your options are limited. Inboard speed boats cost more because additional space is needed to fit the motor inside, and their maintenance can be challenging as well. Generally, these motors are placed on decks where the decking pads end. The space inside the boat is also decreased. But inboard speed boats go faster than outboard ones.

Outboard speed boats can cost you 20,000 dollars, and inboard speed boats can cost much more.

What are the other costs?

Speed boats are themselves expensive, and it requires maintenance. Maintaining the speed boats can prove to be very pricey. The boat contains intricate and powerful machinery which can depreciate quickly and hence, need to be maintained. Maintenance costs can rise up as well.

Boats depreciate quickly. 20% in the first year, 15% in the next 2 years. This way, a boat can completely lose its value after 3 years, and reselling can be challenging.

Make sure to have insurance for your boat. It can be expensive as well. They are much more expensive than regular boats.

Apart from these, you will need to store in your boat PFDs, first aid kits, etc. These products will increase your cost by a few hundred.

If you wish to color your boat, that will cost you extra. You can purchase deck paints from online stores and do it yourself.

A boating license and registration are required when you buy a speed boat. The cost depends on the type of speed boat you buy and also on the local Government. Depending on the Government, you might have to pay ownership and taxes for your boat.

The boat needs to be parked and stored somewhere when you are not riding it. Memberships can cost you thousands of dollars a year. You might also need to wrap it up and store it somewhere safe. This can prove to be pricy depending on your boat’s size and the place you live in.

The bottom line is that speed boats are expensive. While buying any, make sure to know all the costs, rules, and regulations to keep your boat safe. Have an idea of your yearly costs and plan it accordingly. If you are seeking just fun, we advise you to buy used small boats.

Sources:

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