October 17, 2008, Newsletter Issue #94: Benefits and risks of custom boat ownership
Tip of the Week
One major issue of buying a custom boat from a small scale boat manufacturer is the possibility of the company going out of business. If that were to happen, any future issues you have with the boat could not be assessed by the factory. If you pay $300,000 for a custom boat and your engine blows a month after the company goes out of business, you are stuck with litigation when you want to be on the water. It's something to consider when looking to buy a custom boat
If you were to look at a slightly bigger boat manufacturer, like Malibu Boats and Hinckley, they are established enough that the possibility of a closure is slim. By purchasing from a company that’s moderately sized, you get the security of a valid warranty and fringe benefits offered to the customers. To give an example, Malibu Boats have a program called Club Malibu. This club is an exclusive benefit offered only to owners of Malibu Boats. It features a magazine, member-only activities, boat insurance, discounts and other great benefits. These types of companies are not only able to sell you a boat, but also a lifestyle.
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