There are several ways to get into boating on a budget

Setting a budget

Everyone will have a different view of what “budget” means. You can find boats for a few hundred pounds, but at this price point don’t expect something that is safe and ready for the water.

For less than £2,500 the options are quite limited but you can find older speedboats around 14-15ft. Increasing the budget to £5,000 you can expect to find more variety and at this price a decent trailer should be included. Stretching the budget even further up to £10,000 will tap into bigger, newer boats with good service history.

It’s tempting to look for cheaper boats that need a bit of work, but avoid this unless you are very confident about the effort and costs involved. A better approach is to set a realistic maximum budget and find the best boat for the money that satisfies your requirements.

Buying used

Needless to say given this budget you will be looking at used boats. Don’t be afraid of looking at boats up to 30 years old - if they have been well looked after ideally by one owner you can get a lot for your money.

Be aware that older boats won’t have current certification levels or category ratings. These systems exist to state what a particular boat is capable of, including the maximum number of passengers and the type of usage - inshore, offshore, capable of ocean crossings.

In the absence of standards and category ratings let common sense prevail. You wouldn’t try to cross the Atlantic in a small speedboat, would you?!

Shared ownership

This option is becoming more popular, especially where there is a thriving boating scene. It usually involves buying into a syndicate with a one-off payment plus ongoing monthly costs. Since you are buying a share, your budget will get you a bigger or newer boat, so long as you are happy with sharing access and use.

At time of writing this, I found a quarter share in a 6.75m RIB kept in a marina for £5,750 plus £90 per month.

Join the club

If you prefer the idea of a fixed monthly cost with no upfront investment then a boat club may be suitable. Clubs provide access to a fleet of different boats for a flat fee covering everything except fuel.

Although boat clubs often quote monthly costs you generally have to commit to a 12 month membership, and there will be penalties if you want to leave early. Some clubs offer a 1 month ‘zero commitment’ trial to help you decide if an annual membership is worth it.

The entry level price (June 2020) seems to be around £350 per month in my area. This typically equates to 12 days use of one or two boats. If you want more days or access to additional boats the monthly cost can easily exceed £1,000.

Joining a boat club makes sense if you want access to a variety of different boats but I don’t consider it a budget option.