How Much Does a Speed Boat Cost? A Complete Breakdown

If you’re looking to treat yourself to a new purchase, one of the best ways to do so is by buying a boat. If you're an adrenaline junkie, you may be interested in purchasing a speed boat. But, how much does a speed boat cost? Below, you'll find a complete breakdown of the cost of speed boats and the numerous factors that determine the price.

The Cost of a Speedboat

There are typically two different types of speed boats: inboard and outboard. Inboard speed boats feature the motor inside of the shell of the vessel, similar to your car. Outboard speed boats, on the other hand, have the engine on the exterior of the boat, in the water.

Inboard speed boats tend to be more expensive than outboard speed boats because of how challenging they are to maintain. Accessing the engine and vessel parts is more difficult in an inboard speed boat. Additionally, there are very few manufacturers who produce inboard boat parts, so your options are a bit more limited.

You’ll also find that there is not as much room on inboard speed boats as there is on outboard speed boats, because the motor takes up a lot of the floor space. However, inboard speed boats tend to go considerably faster than outboard speed boats.

So, just how much does a speed boat cost? You can purchase outboard speed boats for as little as $20,000 for a basic model. Inboard speed boats, on the other hand, are much pricier. They can cost hundreds of thousands of dollars.

Other Factors Driving Costs

In addition to the purchase costs, some other things could drive up the cost of owning a speed boat. Boats tend to depreciate very quickly, typically losing 20 percent of their value in the first year, 15 percent in the second, and 14 percent in the third. Within a decade, boats can depreciate entirely, which could make resale challenging.

Second, maintaining boats tends to be quite a pricy endeavor. Because speed boats contain powerful motors and intricate parts, maintenance costs could escalate quickly. Furthermore, you're also going to have to pay insurance on your speed boat. Insurance rates for speed boats tend to be much higher than they would for, say, sailboats.

Another cost you’re going to want to consider is fees and taxes. Many local governments require you to secure a boating license and registration, which could be costly depending on the type of speed boat you buy. You may also need to pay local taxes on the ownership of the boat as well.

Lastly, you're going to have to pay to store your boat. Membership at a marina will likely run you a couple of thousand dollars per years. If you live somewhere where the weather gets cold in the winter, you're also going to have to pay to wrap your boat and put it into storage.

Boats with outboard motors tend to be easier to store than those with inboard motors because you can lift their engines out of the water. This means that you don't necessarily have to put the boat into dry storage, which could save you a considerable amount of money.

While depreciation, maintenance, and storage costs could all vary depending on the type of speed boat you purchase, the bottom line is that these costs could drive up the overall price of the boat considerably. You should look into these extraneous costs when considering the final cost of purchasing a speed boat.

Ways to Cut Costs

One of the best ways to reduce the cost of a speed boat is by purchasing a used model and repairing it. For instance, it’s quite possible that you find a boat that is in excellent shape besides the fact that it needs a new motor. You could purchase this boat and then search for used boat motors.

The cost of purchasing a used boat and one of those used outboard motors out there, is likely going to be significantly cheaper than paying new boat prices. Before purchasing a used boat, however, you'll want to research the vessel's history to ensure that it's in good shape. 

Comparing the Costs of Speed Boats

If you're looking for a better gauge of how much speed boats cost and the different specs that you'll receive with the included price, you're in luck. Below, you'll find a comparison of some of the most popular speed boat options available on the market today. We’ve included these options merely to serve as a guideline to better indicate how much speed boats cost.

2018 Chaparral Boats 227 SSX

The 227 SSX from Chaparral is the company's Suncoast model. The cost has a suggested list price of roughly $66,000 and an average retail price of about $51,000. This vessel is a Stern Drive Power Boat with a 250-horsepower, gas-powered engine. The beam on this boat is 8'6," and the length is 23'. 

2018 Chaparral Boats 210 Suncoast

Another speed boat option from Chaparral is the 210 Suncoast. The suggested list price for this boat is just shy of $42,000, while the average retail price is $39,000. This bowrider features a Yamaha Fourstroke outboard engine. The four-stroke, gas-powered engine delivers 150 horsepower.

The 210 Suncoast measures 20’ 10” and has a beam that’s 102”. Although this boat does not sleep anyone, you can take up to ten people out on the water comfortably.

2018 Chaparral Boats 223 Vortex VR

The 223 Vortex VR from Chaparral has a suggested list price of about $47,500 and an average retail price of $45,000. This model, which is another type of bowrider from Chaparral, features a Bombardier Rotax 4-TEC 200 ECT inboard engine.

The engine delivers an astonishing 204 horsepower. The engine is gas-powered and has a jet drive propulsion. The vessel measures 22’ 3” and has a 102” beam. This boat can fit up to ten people comfortably and is an excellent choice for those who like to fish.

2019 G3 Boats Bay Boat Series Bay 18

The Bay 18 from G3 Boats is a model that’s a bit more affordable than the Chaparral options. This vessel has a suggested list price of just under $29,000 and an average retail price of around $23,600. The Bay 18 comes with an outboard engine that delivers 90 horsepower. This boat is smaller than some of the others on the list, measuring 18’. The beam is 7’ 3”.

2019 G3 Boats Bay Boat Series Bay 20

The next product in the Bay Boat Series line is the Bay 20. This product has a suggested list price of about $33,700 and an average retail price of $27,600, making it slightly more expensive than the Bay 20 model. The boat runs on an outboard engine that delivers 115 horsepower. The beam length is 7' 10," and the total length of the vessel is 20'.

2019 G3 Boats Bay Boat Series Bay 22 DLX

The Bay 22 DLX from G3 Boats is the most high-end product in the Bay Boat Series product line. The suggested list price of this vessel is a bit more than $52,000. The average retail price is about $42,750. This outboard boat runs on an engine with an astounding 200 horsepower. The beam length is 8’ 1” while the overall length of the boat is 22’.

Final Thoughts

Owning a speedboat could allow you to create new memories on the water. However, the cost of a speedboat is a considerable investment. You should thoroughly consider how much speed boat ownership will cost before committing to purchasing a new model.