Leasing Boats

mawyatt

New Member
Dec 13, 2007
1,001
Clearwater, Fl
Boat Info
2008 Sundancer 38DA
Engines
8.1L Mercruisers
This might be a silly question but here goes. Does the boat community have leasing options like the automotive leases?

Thanks,

Mike
 
Yes & No,

Chartering is the actual term, and is the basis for the way most large commercial ships are operated in the context that I think you mean (multiple years, lessee responsible for many of the owner's obligations, etc.).

Chartering as used in recreational boating is more short term (days to weeks), and is most notably found in the Caribbean for vacationers.

That being said I have a friend whose company chartered a sailing yacht for the boating season that was used for customer outings. It was expensive, but the boat was valued in the higher end of the seven figure range.

Other than vacation usage, or a fishing trip, I am not sure the economics work for personal boating.

Henry
 
I considered a boating club to get started but after I talked to alot of people that had done that I felt it was not worth it because you have to reserve the boat weeks if not months in advance and the boat you want is almost never available. Atleast around here in Tampa that's the way it is. To many people that don't own boats want to go boating so I just purchased one when I saw a good deal I couldn't pass up. Eventually I'd like to upgrade from my Sundeck to a Sundancer.
 
leasing would not work with a boat. too much depreciation and too difficult to re-sell the product when the lease is up. inventory would pile up and dealers would go broke.

it would be cool if that were possible, though!
 
Yeah. . for most people the "monthly number" is too high on a 20yr basis. Can't imagine what the number would be for a 3 year lease.

Most leases that I have seen are horrible deals for the buyer. (like. . . 20% interest, or calculated upon zero car value at 3 years, or your $15,000 trade doesn't make it into the numbers calculated, or purchase price at MSRP + $5000)

So:
$150K boat. 7% loan, 20 years: $1162per month.
$150K boat, 7% "loan", 3 yr lease, 25% depreciation: $1157 per month.

Hmmmm. That not a good deal (for the dealer!) Especially since depreciation is probably more than 25%!! (which is why it ain't offered!)
 
I had a great experience with a boat club. There are 2 of them on our lake. It was clear that 1 of them would be a lot like the one mentioned above, with limited access to what you wanted. The one that we joined was quite easy to reserve a boat that day. They also let you keep it out all night if you wanted (never took them up on this). 2 years of this helped us decide what we wanted to eventually buy.

We were initially going to ge a Chris Craft runabout, based on our experience with the club's rather old and musty cruisers. Before the second year, the club took on a lightly used small Glastron cruiser. It was a short leap from there to realize we would be happy with a Sea Ray cruiser.

BTW, it was significantly cheaper than the slip fees on the boat that we ended up with the next year.
 
teekster:
permission to steal your boat's name someday?? but i'd alter it to "DOC HOLIDAY." he was a dentist - then there's the whole doc/dock play on homonyms, as well as a boat being a summer holiday thing. love the name! maybe for the next boat??
 
Honestly, it was not my choice. The boat was named by the previous owner. As it's supposed to be bad luck to change a boat name, I left it alone. I am a physician, so I guess it fits.

Regardless, permission granted.
 
thanks! we did change the name of this boat, but followed the prescribed (no pun intended) ritual for name-changing and all's been well. i just couldnt live with the old name regardless of what King Neptune has to say...

"Kids-Leg-A-Sea" :smt017
 

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