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How to Trade in Your Used Boat [Yacht Trade-Ins]

Marina Nazario | May 11, 2023

Take advantage of new boats in stock by trading in your old boat with Denison Yachting.

Demand for late-model used boats is exceeding supply, which means you can get more for your trade-in than in years past. The process isn’t as daunting as you may think. It’s actually quite simple when you trade in your used boat with Denison Yachting. We’ll offer you the best trade-in numbers for your used boat, in exchange for one of our new boat models. Ready to get started? Here’s how to trade in your used boat.

FAQS About Trading in Your Used Boat

32' SŌLACE 2023

Q: What are the benefits of trading in my boat?

A: Mainly that you’ll be out enjoying your new yacht faster. You can skip the process of managing and negotiating with potential buyers, sea trials, and surveys, giving you more time to enjoy life aboard your new yacht.

As an added bonus, there may be sales tax advantages to trading in your used boat as part of the purchase of a new boat. For example, if the new boat is $70,000 and the old boat’s trade-in value is $30,000, then you only pay taxes on $40,000. If the sales tax is 5%, then you would have a sales tax of $2,000 at closing. Many states only tax the difference between the trade-in value and the new boat price. Local tax laws do vary, so check with a Denison broker for details applicable to your state.

Q: Is there a difference between trading in my boat and selling it with a broker?

A: Denison makes the process of trading in your boat simple and easy. After we give you a fair price for your used boat, we’ll take ownership of it and manage the sale while you enjoy the new boat. When you trade in a used boat with Denison, you’ll be relieved of expenses such as transportation, insurance, crew, and dockage fees that might accompany owning two boats at once while you’re trying to sell one with a broker.

Q: Do you accept trades for your new-boat lines?

A: Yes. Denison’s new boat lines include Beneteau, Gran Tourismo, Beneteau Swift Trawler, SŌLACE, Excess CatamaransVan der Valk. We offer everything from motor yachts and powerboats to catamarans and center consoles.

Q: Can I trade in my used boat for a brokerage boat?

A: Possibly. The answer will depend on the values involved and the seller’s willingness to participate in the process.

Q: What happens if my used yacht has a balance on the marine mortgage?

A: In many cases, the mortgage can be paid off with funds from a new loan. However, bank policies can differ, so it’s best to start by consulting with a Denison yacht broker who can help guide you through the process.

Q: How quickly can I close my trade-in?

A: Once we determine the condition of your boat and its market value, you’ll be able to upgrade to a new model. The process typically takes a few weeks.

Q: I’m ready to trade in my used boat with Denison, how do I get started?

A: Contact a Denison yacht broker who will assess your current boat and complete a trade-in evaluation. Make sure to have all of your paperwork in order, including specifications, maintenance records, and title and registration. We’ll provide the best offer to boats and yachts that are in tip-top mechanical condition. We’ll also work with you to find your next dream yacht. Fill out and submit the trade-in details form below to get started.

Trading in your boat is a hassle-free solution to getting rid of an old boat so that you can enjoy a new one. Call a Denison broker today to learn how to trade in your used boat and start the process.