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Pros and Cons of Leasing a Go-Fast

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Old 04-12-2006, 04:39 PM
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Default 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.
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Old 04-12-2006, 04:42 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

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Originally Posted by cobra marty
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.
See...thats why I dont want to know
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Old 04-12-2006, 04:47 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

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Originally Posted by Dean Ferry
What, that someone couldn't sue the owner of the boat leasing co. if a person got hurt on one of his LEASED boats? The guy leasing the boat doesn't OWN it, he's just leasing it from the boat leasing co. I know that the leasee is resonsible for providing the insurance, (If he can get it) on the boat, BUT people are going to sue everybody associated with the boat, unfortunately!
I can't the risk vs reward upside on this idea, IMO.
Good luck,
Dean


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
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Old 04-12-2006, 05:16 PM
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Default 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
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Old 04-12-2006, 07:13 PM
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Default 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?
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Old 04-12-2006, 07:20 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

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Originally Posted by rtaylor
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?


2500.00 a month for a both that does not cost over 45K brand new would be a good deal for the leasor
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Old 04-12-2006, 07:33 PM
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Default 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.
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Old 04-12-2006, 07:38 PM
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Default 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....
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Old 04-12-2006, 07:44 PM
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Default 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.
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Old 04-12-2006, 08:09 PM
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Default 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
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