How Much Do Jet Skis Depreciate? Quick Answer

Explore all of your options in this article, or read on to learn about How Much Do Jet Skis Depreciate? If you cannot live without a brand-new feature in this year’s release, you might be prepared to upgrade. Or you’ve just concluded that PWCs aren’t for you and are moving on.

Whatever the situation, selling your jet ski is an important decision that needs careful consideration and investigation. If you’ve spent the time and effort maintaining or upgrading your baby, you want to ensure you’re receiving the greatest deal.

The market might be challenging for first-time sellers. We created this information on selling your jet ski for both new and seasoned sellers. You surely have many inquiries regarding what to anticipate when you sell your PWC.

It’s a good idea to become familiar with some of the peculiarities of selling before preparing your bike for sale and gathering paperwork. Before you go in, consider the following points.

How Much Do Jet Skis Depreciate?

Like autos, they start losing value when you “drive them off the lot.” Most experts predict that a brand-new jet ski will lose up to 22% of its value in the first year after purchase and then lose 8% annually.

Are Jet Skis Worth The Money?

It would appear that the answer is yes—there are more than a million registered jet skis in the United States! Jet skis are a great choice if you enjoy traveling fast and spending your summers by the water.

But keep in mind that jet skis require expensive upkeep in addition to their endless hours of entertainment. Additionally, they need ongoing maintenance and care, such as pre-ride checks, post-ride care, yearly maintenance, winterizing, etc.

How Much Is A Used Jet Ski?

As a general rule, used jet skis are much less expensive than new ones, and for good reason. Jet skis often become unstable after a few years, which causes a sharp decline in their asking price.

Depending on the model, a jet ski will normally depreciate by 20–30% in its first year. After the first year, used jet skis are priced at $1,000 to $5,000 less than new ones. However, it is safe to conclude that a jet ski’s performance and features significantly impact how much it depreciates.

Rec-Lite jet skis hold their worth very well, whereas the Performance and Luxury versions lose a significant amount of value. Jet skis depreciate most quickly in the first year, similar to many other vehicles, and more slowly in the subsequent years.

How Much Does It Cost To Own And Maintain A Jet Ski?

In addition to the purchase price, a Jet Ski comes with additional expenses. An individual will typically utilize a jet ski for 30 hours a year. About 100 to 150 gallons of gasoline should be burned annually, costing about $400.

For a Jet Ski, you’ll need insurance; the cost will vary, but you should budget $300 annually. Your Jet Ski will need routine maintenance. This covers maintenance such as oil changes, battery swaps, spark plug replacements, winterization, and any other issues that could arise.

Although the cost of maintaining a Jet Ski can vary substantially, you should typically budget between $800 and $1200 per year. Monthly average of around $100.

Jet Ski Maintenance Costs – The Running Costs

The price of buying your ideal Jet Ski is one thing, but the cost of maintaining it is another. This is a crucial component of your Jet Ski ownership costs, ranging from monthly/annual charges to overhead operation costs, which you might only need to pay once. Let’s find out the rates and up-front fees when we’ve established what they are.

Jet Ski Insurance

Unlike your road vehicles, you are not required by several state laws to acquire Jet Ski insurance. In most states, this watercraft can be used without one in comfort. This will undoubtedly reduce your overall craft cost in the short run.

However, if your jet ski is involved in an accident or explodes, running it without protection could cost you much more in the long run! Consequently, it is a cost that is strongly advised.

Once we’ve determined that your insurance payment should be considered a key maintenance expense, you might have to pay $100 to $500 yearly for insurance. If you have a Jet Ski license, you may qualify for lower-cost insurance packages. Therefore, you should think about getting one.

Storage

If you still need to consider it, storing your jet ski will be your top priority after purchasing one. It can only be left at the dealer store once your upcoming excursion. What will it cost you to store your new craft, and where will you store it?

Your Garage

This is the least expensive way to store your craft, provided you have adequate space in your garage. If your garage isn’t very big, you might give up room for a future car or equipment for your PWC.

Of course, using a Jet Ski lift and rolling stands will allow you to avoid this. You can expect to pay some money even if space wasn’t an issue. First, whenever you require your jet ski trailer, you will have to tow it.

This entails having the appropriate vehicle and fuel for it. You may have to pay docking and launch fees in some marinas to utilize their ramps, which adds to additional costs. (However, the good news is that you can readily locate public boat ramps nearby!)

Your Yard

If your garage is too small for your jet ski, but you still want to keep it at home, you can store it in your yard. This exposes your PWC to additional factors and is often less secure than garage storage. Even if you cannot increase security, you should be able to fend off the weather with a storage shed in your yard.

Floating Docks And Lifts

Do you own a lakeside home? If so, a PWC lift or a floating Jet Ski dock are both excellent and practical storage options, albeit a bit pricey. Despite this, installing it is still significantly less expensive than a standard dock and can be moved anytime needed.

Self-Storage Garage

What if you are worried about the safety of your watercraft but need more room in your garage to keep a PWC there? A self-storage garage is a rented-out garage that lets you keep your possessions secure and weatherproof.

Marina

Another choice is a marina. You’ll dry-store your jet ski at a marina. This implies that a unique forklift will be used to launch it each time you wish to use it. On the other hand, it might be kept on a dock that floats in the water so you can utilize it easily.

In either case, you will be charged each month the PWC is stored in the marina. This could cost $100 or several hundred dollars, depending on the amenities provided and the marina’s location.

How Do You Help Keep Your Boat From Depreciating?

The greatest thing you can do to prevent your boat from depreciating significantly is to keep it covered from the summer sun and store it indoors during the off-season. UV rays from the sun can especially harm your paint and seats, lowering the boat’s resale value.

Waxing your boat at least once a season can also prevent UV ray damage. You may hire a yacht detailer to do it for you or learn how to do it yourself by watching this YouTube video.

Additionally, you should prevent people from stepping on your seats and avoid washing them with strong chemicals to keep them safe. Washing the chairs should only be done with soap and water.

Should You Buy A New Or Used Boat?

Depreciation will likely cause new boats to lose a significant portion of their value, making them absurdly overpriced. This is why I advise buying a yacht that is only a few years old (3 to 10), as you won’t lose as much money to depreciation.

Naturally, older boats also have costs associated with them, such as engine maintenance that may be lower for newer boats. This is why it’s crucial to check that the engine(s) is in good working order and perhaps even have a professional give them a brief inspection before you make a purchase.

Additionally, check the boat’s exterior for sun damage, seat damage, and any other type of exterior deterioration that could reduce its value. A damaged boat should be purchased at a maximum price. This article shows you exactly how much boat you can afford if you’re wondering how much one is within your budget.

How Do You Find Out How Much A Used Boat Is Worth?

Check out this website if you discover a good used boat but are still determining how much to offer. You may enter practically any boat model currently on the market, and they will provide you with a fairly accurate value estimate.

It would help if you made further considerations, such as the boat’s condition, but this is an excellent starting point to ensure you don’t get taken advantage of.

Conclusion

This was How Much Do Jet Skis Depreciate? It would help if you also considered the cost of ownership, upkeep, and buying price. This includes a trailer’s price and fuel, insurance, and maintenance costs. You always have the option of renting a Jet Ski, a popular choice, if you decide buying one is outside your budget.

Frequently Asked Questions