It is easy to set your heart on any boat at an auction, but make sure you are looking for a specific boat for your needs and not just any boat. Boats are too expensive for frivolous buying, not only in terms of the cost and financing, but also in terms of the upkeep and repairs that are needed as well as the storage and transportation. Ask yourself the following questions:

• How will you use the boat? Are you ocean fishing, or lake fishing? Perhaps you are a water skiing enthusiast, scuba diver, or just taking day trips and maybe week long trips. Will you need protection against harsh climates?

• Who will use the boat? Do you plan on taking just yourself and one other buddy? Or do you plan on taking the whole family and all your friends?

• How much can you afford to spend? Don't forget that there are many considerations in terms of cost besides just the boat itself and the financing.

• How often do you plan to use the boat?