Pros and Cons of Leasing a Go-Fast
04-12-2006, 08:44 PM
#31
Re: Pros and Cons of Leasing a Go-Fast
Originally Posted by tomtbone1993
leasing companys don't own the items, banks do. Its know different then a conventional loan. Its all about predicting the market value of the ITEM at the end of the term.
For Example
You lease a SC Range Rover from me for 24 Months 10K miles a year
MSRP is $93,450.00
Land Rover Capital Gurantees the car will be worth 59% of the original MSRP after the term.
You Finace the 41% diffence plus the money factor AKA "Intrest rate" Thats how the banks make their money..
So if I was going to lease a boat or be a leasor you need to determine the market value at the end of the term...
The Liabilty falls on the person leasing the item, not the bank..
I hope the is a better explanation.....Tom
For Example
You lease a SC Range Rover from me for 24 Months 10K miles a year
MSRP is $93,450.00
Land Rover Capital Gurantees the car will be worth 59% of the original MSRP after the term.
You Finace the 41% diffence plus the money factor AKA "Intrest rate" Thats how the banks make their money..
So if I was going to lease a boat or be a leasor you need to determine the market value at the end of the term...
The Liabilty falls on the person leasing the item, not the bank..
I hope the is a better explanation.....Tom
04-12-2006, 09:31 PM
#32
Re: Pros and Cons of Leasing a Go-Fast
Is it possible to buy extended warranties and keep it covered while you lease it? That would be the only way I would even consider it.
Pay cash for it at $55k. Collect $28-$36k in payments over three years. Sell the boat after the three years for $30k, $35k, ??? depending on condition and replace the boat.
Honestly, IMO the ONLY way you could make it work would be to have warranty and collect LARGE security deposits for damage.
Pay cash for it at $55k. Collect $28-$36k in payments over three years. Sell the boat after the three years for $30k, $35k, ??? depending on condition and replace the boat.
Honestly, IMO the ONLY way you could make it work would be to have warranty and collect LARGE security deposits for damage.
04-12-2006, 09:58 PM
#33
FIERCE ALLEGIANCE
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Re: Pros and Cons of Leasing a Go-Fast
Just what we need... an easy way for more inexperienced boaters, going too fast with little education. If you can't afford to invest in the hobby, then you shouldn't be in it. We're having a hard enough time protecting our rights. I'd say the payoff is not worth it.
04-12-2006, 10:46 PM
#34
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Re: Pros and Cons of Leasing a Go-Fast
Originally Posted by tomtbone1993
leasing companys don't own the items, banks do. Its know different then a conventional loan. Its all about predicting the market value of the ITEM at the end of the term.
For Example
You lease a SC Range Rover from me for 24 Months 10K miles a year
MSRP is $93,450.00
Land Rover Capital Gurantees the car will be worth 59% of the original MSRP after the term.
You Finace the 41% diffence plus the money factor AKA "Intrest rate" Thats how the banks make their money..
So if I was going to lease a boat or be a leasor you need to determine the market value at the end of the term...
The Liabilty falls on the person leasing the item, not the bank..
I hope the is a better explanation.....Tom
For Example
You lease a SC Range Rover from me for 24 Months 10K miles a year
MSRP is $93,450.00
Land Rover Capital Gurantees the car will be worth 59% of the original MSRP after the term.
You Finace the 41% diffence plus the money factor AKA "Intrest rate" Thats how the banks make their money..
So if I was going to lease a boat or be a leasor you need to determine the market value at the end of the term...
The Liabilty falls on the person leasing the item, not the bank..
I hope the is a better explanation.....Tom
04-12-2006, 11:10 PM
#35
Re: Pros and Cons of Leasing a Go-Fast
Originally Posted by CASH BAR
Holy shiit, no way I'm ever BUYING a Rover. Two years later it's worth like 38k LESS? I thought f'n boats were a hole. Most 100k boats are still worth more than 55k after 2 years...
it would be alot worse in two years if you did a covential finace or stroked a check for it
Thats all High end cars not just Rovers...........
04-12-2006, 11:40 PM
#36
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Re: Pros and Cons of Leasing a Go-Fast
I understand the finance system of leasing. I know the factories (and co sponsored finance) hold abnormally hi residuals. I was just commenting on the supposed myth about boats being the biggest losers.....
I wouldn't ever consider a purchase of a hi-end or exotic new. Only used for this kid. It's the only way I can have more than one toy anyway.
I wouldn't ever consider a purchase of a hi-end or exotic new. Only used for this kid. It's the only way I can have more than one toy anyway.
04-12-2006, 11:45 PM
#37
Re: Pros and Cons of Leasing a Go-Fast
Originally Posted by CASH BAR
I understand the finance system of leasing. I know the factories (and co sponsored finance) hold abnormally hi residuals. I was just commenting on the supposed myth about boats being the biggest losers.....
I wouldn't ever consider a purchase of a hi-end or exotic new. Only used for this kid. It's the only way I can have more than one toy anyway.
I wouldn't ever consider a purchase of a hi-end or exotic new. Only used for this kid. It's the only way I can have more than one toy anyway.
i agree
04-13-2006, 07:57 AM
#38
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Re: Pros and Cons of Leasing a Go-Fast
Is there anyone out there willing to plunk down 24K / year at 2 grand a month to lease a 30 foot boat ??? that in this part of the country you can only use 8 months ?? I wouldn't even pay 12 K per year... I say if you got 24K to spend yearly on a boat, you aint gonna be tooling around in a 55K 30 super-boat, and if you did have that kind of cash why not buy it ?? what would be the benefit of the lease...
04-13-2006, 08:06 AM
#39
JC Performance Engines
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Re: Pros and Cons of Leasing a Go-Fast
[QUOTE=cobra marty
Then the cost of your original$55,000 @9%= $5,000/year and the boat will need new engines at a cost of about $20,000 with labor and selling the worn out motors(for twins) So really after 3 years the boat costs you $19k+$15k+$20k=$54,000. WOW I just made $1,000 in three years.[/QUOTE]
Buy in cash... so no 9%.
Single 496 w/ 5yr warranty... so no repower... still 2yrs warranty left on motor.
"If anyone has ever turned a leased vehicle in they are aware of the back charges for all of the nicks and dings."
-exactly, but you leasing out 10 boats may not have the leverage/strong arm tactics GM has.
"that in this part of the country you can only use 8 months ??"
- I think you missed in the initial post... 1/2yr up north, other half down south. Each leasee only pays for 6 months.
I am not trying to make a case that this is smart or will even work. Just helping Noboat make his point.
Then the cost of your original$55,000 @9%= $5,000/year and the boat will need new engines at a cost of about $20,000 with labor and selling the worn out motors(for twins) So really after 3 years the boat costs you $19k+$15k+$20k=$54,000. WOW I just made $1,000 in three years.[/QUOTE]
Buy in cash... so no 9%.
Single 496 w/ 5yr warranty... so no repower... still 2yrs warranty left on motor.
"If anyone has ever turned a leased vehicle in they are aware of the back charges for all of the nicks and dings."
-exactly, but you leasing out 10 boats may not have the leverage/strong arm tactics GM has.
"that in this part of the country you can only use 8 months ??"
- I think you missed in the initial post... 1/2yr up north, other half down south. Each leasee only pays for 6 months.
I am not trying to make a case that this is smart or will even work. Just helping Noboat make his point.
04-13-2006, 10:20 AM
#40
Re: Pros and Cons of Leasing a Go-Fast
Originally Posted by Chris288
Is there anyone out there willing to plunk down 24K / year at 2 grand a month to lease a 30 foot boat ??? that in this part of the country you can only use 8 months ?? I wouldn't even pay 12 K per year... I say if you got 24K to spend yearly on a boat, you aint gonna be tooling around in a 55K 30 super-boat, and if you did have that kind of cash why not buy it ?? what would be the benefit of the lease...
tax write offs for business, you don't have to track the hours for business vs personal in a lease. in TX you simply write of 90% of the payment
