Used Boat Vs Newly Build Vessel - Articles - Ship Building Shipyard Factory Indonesia - Ratson

If you have to choose one of them, which one do you choose? What is the best choice for you right now, used boats or newly build vessel? Which one will make the best out of our investment to buy a vessel? Which one is better at the time being? Which one is better for the sustainability of the business? There are a lot of questions to choose between used boats or newly build vessel.

Both of the options will have a benefit as well as the risk. Let's start with a used boat. What is the benefit of purchasing a used boat? First, the price. Purchasing a used boat will save you some money because the price will be lower than purchasing a newly built vessel. In some cases, you can even get a lower offer than the market value because the previous owner needs to sell their vessel fast enough because of they in need of cash. This deal will help you to run your business with lower capital. Second, time-wise, you will get the boat faster. The used boat already exist and sailing and are ready to be used. If there is a repair process needed, it will take you a maximum 1 month before the vessel is ready to generate money for you. Third, you know the real form of the vessel and you can judge objectively.

However, there are also negative sides of purchasing a used boat. First, the quality of the vessel has been depreciated. Since you are purchasing a used boat, it has been used for some time by the first party. Depending on how they maintain the vessel and how they use the vessel, it will determine the condition of the vessel before you purchase it. However, the vessel is not in her full potential when you buy it. Second, there is regulation related to the age of the vessel that gets the permission of sailing, usually 15 years or more, depending on the country. Having this regulation lower the time for you using those vessels to generate more money for you. Third, you don't have warranty privilege. Purchasing a used boat gonna exposed you to the safety issue. If there is something happen to the vessel after the purchase, you cannot rely on the warranty. Especially, if you do not have the expertise that helps you to inspect the vessel before you do the purchase. This might be the biggest issue in purchasing a used boat.

On the other hand, you will have 3 negative sides. First, you will need more capital to do the purchase, because a newly built vessel is relatively more expensive than a used vessel. Second, you must wait for the lead time or building process before you are able to put your money to operate and generate you money. Third, in some cases, shipbuilder will need to make several adjustments to the vessel to match with the regulation. This will make the real result a little bit different than the first design.

However, purchasing a newly built vessel will keep you safe. First, you will get your warranty privilege (You have to ask for this), so if there is something happened within the warranty period, you can always claim it. Furthermore, having this feature will help you to get a better quality of the vessel because the shipbuilder will build it good enough to lower the warranty claim issued in the future. Second, you know the quality of the vessel because you are following from the start of the building process. Third, you have the full benefit from the lifespan of your vessel. This factor is important for your sustainability. Owning the vessel from the first time helps you to ensure that the vessel is maintained well, and you can harness the full potential of the vessel from the first time you use the vessel. Lastly, you can have the vessel to built specifically customize to your needs. This is the greatest benefit in purchasing a newly built vessel. If you have a specific job for the vessel, you can always custom your vessel to be 100% suitable with your needs and solve all the problems that you have.