Selling your boat? Don’t get duped by a fraudulent buyer. We’ll list the most common scams sellers need to watch out for, along with smart steps to take for a safe boat sale.
DealNow is the only platform that offers a suite of transactional tools that let you sell your boat safely and quickly. List your boat for sale, invite prospective buyers to your private dealroom, and complete the transaction securely.
Here’s how you can protect yourself from scams when selling a boat.
Scammers hide behind fake profiles to avoid detection. That’s why you need to verify a potential buyer’s identity before agreeing to a boat inspection.
Most online boat listing platforms have weak (or nonexistent) identity checks. DealNow solves this problem by verifying your buyer’s identity; it also provides a bunch of other protective features.
Once you’ve found a prospective buyer, invite them to your DealNow deal room where you can confirm their identity and verify they have the funds to purchase your boat.
Many scammers aren’t just hiding their identity—they’re hiding their empty bank accounts. You need to confirm that a potential buyer can afford your boat.
Combine identity verification with funds verification to filter most fraudsters. Fund verification also saves you from wasting time with well-meaning but financially unequipped buyers who can’t afford your boat.
When you bring a potential buyer to DealNow, their funds are verified. This way you know you’re dealing with a legitimate buyer who’s financially ready to complete the purchase.
A bill of sale gives you additional protection against scammers—but only if your buyer is verified and signs the document under their real identity. A bill of sale records the terms of the deal and serves as a legal record in case a buyer wants to cause problems in the future.
Include the following in your bill of sale:
DealNow’s digital bill of sale automates this process, guaranteeing all necessary information is included and compliant with state-specific requirements. Your bill of sale is electronically saved and secure against theft, loss, or destruction.
Boat scams often involve shady forms of payment. You’re better off not accepting the following payment types:
Even the more secure ways to get paid put you at risk and require some extra steps on your part. Cash can be counterfeited, checks can be forged, wire transfer requests can be pretexts for data mining, and escrow companies can be faked.
DealNow makes it easy, fast, and secure to get paid for your boat, no matter the sale price. Enjoy the immediacy of cash, the security of wire transfers, and the added trust of escrow services without verifying bills, checks, or businesses. Once the bill of sale is digitally signed and the buyer pays, the deal is done and the money is yours.
Your intuition is your best friend for fraud avoidance. If something feels off, even if you can’t pinpoint exactly why, it’s best to walk away. There will always be other buyers.
Now that we’ve covered preventive measures, let’s dive into the most common scams that target boat sellers. Beware of these tactics to avoid fraudsters.
Some scammers use boat purchases as a pretext to steal your personal information:
DealNow protects your personal information with secure in-app messaging. You can communicate with potential buyers without exposing your phone number, email address, or other sensitive details.
This scam targets sellers eager for a quick sale:
Not to say that all out-of-town buyers are crooks; DealNow verifies the legitimacy of buyers, long-distance and otherwise, and enables long-distance boat sales that are quick and safe.
When selling your boat privately, watch out for the following warning signs.
Stay alert and trust your gut feeling. Genuine buyers will understand and respect your need for caution in such a significant transaction.
Imagine a transaction platform that protects you from boat-selling scams without compromising convenience or speed. We created DealNow to be the ultimate solution for high-value boat transactions.
After experiencing DealNow, you’ll never want to sell a boat any other way.
The fastest way to sell a boat is to list it on multiple platforms. Popular options include Boat Trader, Facebook Marketplace, Craigslist, and eBay Motors.
Whichever platforms you choose, use DealNow to close the sale. It provides a safe and speedy transaction, whether you found your buyer on Boat Trader, Craigslist, or through a friend. DealNow’s tools protect buyers and sellers, making it the smartest way to finalize any boat sale quickly.
The safest and most convenient payment method when selling a boat is DealNow. Unlike cash (which can be counterfeit) or cashier’s checks (which can be forged), DealNow facilitates instant, verified transfers of any amount directly between buyer and seller.
DealNow’s platform secures transactions by:
With DealNow, you get the immediacy of cash with bank-level security.
Boats depreciate, but not as rapidly as cars. On average, boats lose 10-15% of their value in the first year, then about 5-10% per year after that. Well-maintained boats in popular models hold their value best.
Spring and early summer are the best times to sell a boat. As the weather warms, more people plan boat trips and water adventures. This increased interest leads to higher demand and potentially better prices for sellers. In warmer climates, the selling season can extend through fall.
Bank drafts can be a secure payment method for boat sales. While they’re guaranteed by the issuing bank, caution is still necessary.
For the security of a verified bank draft, without the time commitment and inconvenience, have the seller pay you via DealNow.
DealNow is the easiest way to close your own vehicle deal, anytime. It’s the safe and simple way to avoid fraud, sign documents, and instantly transact, all in one app.
