Owning your own boat can give you a sense of freedom without parallel. Think about it–whenever you get the itch to get out on the lake, all you have to do is head down to the dock or marina and untie your vessel. If you happen to be a Canadian resident, or if you just visit often, you are also in something of a boater’s paradise. Our beautiful country is home to thousands of pristine lakes, so the boating possibilities are virtually endless. While boat ownership may be a hobby that follows you throughout your life, it stands to reason that your vessel needs could evolve over time. If you are thinking about downgrading or upgrading your boat, you may want to think about selling it on the secondary marketplace. This allows you to fetch a fair price on your vessel in exchange for creating a dynamic, engaging listing and completing a bit of paperwork, which typically includes a bill of sale in Canada. Read on to learn more.
Selling a boat is never a decision that is arrived at lightly. For many, boats hold near and dear memories, and it can be tough to part with a vessel that has become so important to you and your family. Still, if it is time to move on, you can take some solace in the fact that boats tend to retain their value pretty well. If you are willing to navigate the sale of your boat yourself instead of, say, trading it in, you can collect a tidy return on your investment. To do this, you will want to market your boat in print and digital marketplaces using a copy that highlights your vessel’s finer qualities. It will also be important to use as many high-resolution photographs of your boat as you can. Once you have found a buyer and the money is ready to change hands, you may also need to complete some paperwork. Fortunately, by working with a private service such as ours at the National Vessel Registry Center, this process can be a breeze.
What is a Boat Bill of Sale in Canada?
So, you may be wondering, just what is a bill of sale? Well, in simple terms, you can think of it as a receipt, not terribly different from what you get from a store. Boat bills of sale do tend to include a bit more information, though, including the price, some information about the vessel itself, and the names of the buyer and seller. If the boat you are selling carries a pleasure craft license (PCL), you may want to prepare a bill of sale for the completeness of your records, but Transport Canada does not require it.
Registered vessels are a different story. If your boat carries a vessel registration from Transport Canada, you will need to fill out what is known as a Form 6 – Bill of Sale. Luckily, you can do it on our website with just a few clicks.
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From bills of sale to vessel registrations to PCLs, we have the online forms you need. To learn more, check out our Frequently Asked Questions page, or take a minute or two to explore our website.