Re: Pros and Cons of Leasing a Go-Fast
 

Even if you leased it for $1000/mo for 36mo you'd still have a 3yr old boat that cost you $19,000.(approx)

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.

Re: Pros and Cons of Leasing a Go-Fast
 

See...thats why I dont want to know :p

Re: Pros and Cons of Leasing a Go-Fast
 

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

Re: Pros and Cons of Leasing a Go-Fast
 

WOW. i don't even know what to say about that, but i think is you don't have the $$$ to get a boat and pay gas , repairs and insurance(that is not chip) find a friend that is responsible and own one and pay his gas he will give you a Sundays ride,rf

Re: Pros and Cons of Leasing a Go-Fast
 

So there are a lot of considerations to be aware of. Some things to do to mitigate a loss at the end of the lease term are to lease a used boat which is fully depreciated. But assuming that insurance is not prohibitive, etc. do you guys generally think its a good idea for the lessee, assuming 2,500 a month for like 6 months or so, plus insurance?

Re: Pros and Cons of Leasing a Go-Fast
 

2500.00 a month for a both that does not cost over 45K brand new would be a good deal for the leasor

Re: Pros and Cons of Leasing a Go-Fast
 

Pro: Guy who leases boat; gets to beat chit out of boat that is not his.

Con: Guy who leased boat to guy above gets back POS boat.

Re: Pros and Cons of Leasing a Go-Fast
 

Why not start out with a used boat? That's exactly what you'll be left with.......i guess the bank wouldn't touch it, as it's a lot tougher to figure out the depreciation....

Re: Pros and Cons of Leasing a Go-Fast
 

If anyone has ever turned a leased vehicle in they are aware of the back charges for all of the nicks and dings.

Re: Pros and Cons of Leasing a Go-Fast
 

If you start out with a used bot that will no longer depreciate then its easy. For that matter, if you own the boat yourself and want to lease it to people then its even easier