370ss: True Cost To Ownership (saltwater)
 

I'm considering a 2006-2008 Formula 370ss with 496 HO's with 150-300 hrs.
It will be lift kept and flushed after use because it will be used in saltwater.
I'm wondering from previous owners what the true yearly cost will be to own a 370ss.

Any feedback appreciated!

Curious to read the numbers! Do you also want the depreciation of the boat in your numbers?

http://4.bp.blogspot.com/-5TVeQPhWUC...s400/boat1.jpg

:party-smiley-004:

My buddy had a red one he bought new. 2 things he b!tched about was the red paint (keeping it clean) and the fuel economy sucked for a boat that really wasn't fast! His previous boat was a 33 Powerplay, complaint there was lack of shade!.......Can you see a pattern?

It won't get a mile a gallon average overall. Figure just under that. And if you like to run in the upper rpms figure 1/2 mile per gallon. That's where my 350SS was at and they should be similar.

I ran the numbers one year, made me sick so I decided not to run the numbers again. You have to ask yourself how much you enjoy boating. Me, I love boating....so cost is not a factor. If I had to give up all hobbies boating would be the last, not the first. You have to love it, if you do you won't care (if its in your budget).

Things to factor

Slip $1500-4000
Winter storage $1200
Winterizing $400
Maintenance $1000 +/-
Insurance $1000-1500
Gas $2000-$8000 (I spent $7500 last year on fuel)
Food/drink/transient fees $XXXXX this is an X factor that can be controlled, I choose not to control it :D

First year is usually the most expensive. You will find things you want need. Does the boat come with cables, fenders, ropes, jackets, coast guard $1000-2000 just to get you started

Overall I find your question interesting for that size of boat. Honestly it is not usually a concern for people in that caliber of boat. If this is a first time venture I would suggest starting with something smaller or a tad older, that is a killer deal so you can move up or out of boating if needed.

Thank you for taking the time to write this out.
I am surprised that your maintenance bill was only about $1000/year.
I believe you can spend over $1000 on cleaning/detailing alone in a year.
We wont be winterizing and have a house on the inter coastal with a 24k lift, so the slip fees aren't an issue.

I am also looking at 36-40 diesels (IPS and inboard) and have cost data for them.
I find the question completely valid to learn whats involved with running a large, gas powered boat in saltwater.

Wouldn't there be more then $1000 in preventative maintenance that should be done annually on this boat?

Depends on whether you do the maintenance or hire it out, and what all you are including in annual maintenance. If oil change, drive service, impellers, filters, 1000 should cover it. Other non annual stuff will be on top of that. New bank of 4 batteries will be $500-$600 plus labor. Rebuild a bravo 3 now and then, a few thousand. And so on. There are so many variables this gets hard to predict. Add depreciation and total cost of ownership will be over 20k per year for used. Over 30k per year new.

I rebuilt my engines last year, so my maintenance bill was over 10 thousand :D

Again, so many variables. I maintain, repair, buff and wax my boat myself. Arrives is hard to find in my area, and is ridiculously expensive IMO.

It's really going to depend on how much you use your boat, and how well you care for it. It you can't do things yourself you may want to talk to a mobile marine mechanic before hand and see what he would charge to do the maintenance on site. For me it's part of the hobby, I like doing it myself and I don't have to wait. Paying someone to do what I do each year would change my cost of ownership significantly.

A boat is the about the worst investment you can make, your daily driver car is second. That's is why I said I don't think about, because for me I can't put a price on something that' my family and I truly love. We spend every single weekend we can (and week days) on our boat. We travel to different areas, meet great people, and we are always doing something all summer long. People ask me all the time how much, and honestly I don't care because it wouldn't change a thing. You can't put a price on enjoying life.

I sometimes wonder what I would do without boating? Watch baseball with the AC on all summer? Start a garden? Sit on the deck and watch birds? Idk.

Is the cost your deciding factor for boat ownership? If so don't do it! Basing it on cost, or even a superficial return on investment philosophy, will come out as a loss on paper.

4bus, How many hours of use did you get for $7,500 in fuel?