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Pros and Cons of Leasing a Go-Fast

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Old 04-13-2006, 11:37 AM
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Default Re: Pros and Cons of Leasing a Go-Fast

This is all good input.

If you weigh the costs of ownership over several years, then selling the boat, and losing money vs. leasing one for 6 months or so for an expensive, but limited cost, I think it could make great sense for a lessee.

Now, as for attracting newbies who cant afford to buy a boat, as a lessor I would certainly provide a training course or require a boating license that certain states require. This isnt really geared towards someone who has not been around boats before. To the contrary, it could be desigend for those of us who have previously owned boats and dont want to commit to all of the ownership trials and tribulations.
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Old 04-13-2006, 12:21 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

If you can afford 12K for 6 months on a lease,, you can most certainly afford 55K for a new one. at that rate it would be paid off in 5 years...
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Old 04-13-2006, 12:48 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

Chris:

I disagree. Whether yuo can afford it or not is not really the question. It's whether or not you wnat to take on a longer term responsibility aqssociated with owning a boat: storage in the off season, mooring, gerneral upkeep, rebuilds, losing out on depreciation, oh and the payments. The shor tterm lease is perhaps more expensive on a monthly basis, but there is limited exposure to the lessee. This is the point: if you could enjoy a boat for a season and a season only and could walk away from it at the end of that season, would you? A short term lease would be designed for the person who would answer "yes" to that question, most likely a person who has already owned boats before.
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Old 04-13-2006, 06:40 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

Quote:
Originally Posted by rtaylor
Chris:

I disagree. Whether yuo can afford it or not is not really the question. It's whether or not you wnat to take on a longer term responsibility aqssociated with owning a boat: storage in the off season, mooring, gerneral upkeep, rebuilds, losing out on depreciation, oh and the payments. The shor tterm lease is perhaps more expensive on a monthly basis, but there is limited exposure to the lessee. This is the point: if you could enjoy a boat for a season and a season only and could walk away from it at the end of that season, would you? A short term lease would be designed for the person who would answer "yes" to that question, most likely a person who has already owned boats before.
I agree, the affording part is not the issue at all. A lot of people with money don't want to deal with what comes with OWNING a boat long term. They would rather make the payments on a short term agreement and walk away with no strings at the end.
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Old 04-13-2006, 06:56 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

Hello gentlemen. Leases isn't bad but the monthly payments are lower than a purchase. I lease a 550 Ferrari with Permier leasing. Premier owns the car I insure it & lisence it. On a high end lease it's really a purchase with a balloon payment at the end of the term. It's only atractive because the monthly payments are lower than a purchase not higher. Premier & DonL. are two leasing companies that handle high end cars. It would be really hard to make sense of it on a boat.
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Old 04-13-2006, 07:54 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

Most non boaters who would be prospective "leasees" have no concept whatsoever of what it really cost to own or operate a boat, They would fall on the floor from shock if someone actually added up the cost of wear and tear to a boat,purchase price minus depreciation and final residual value etc and divided it by 12 months or 36 months and presented them a contract. Then add some money into the equation so the company or person leasing out the boat to the individual could actually profit and it would be pure and simply un-economical to a individual. The only way I could see it possibly working would be if you were a boat manufacture and were stuck with some 3 or 4 year old models that you were absolutely desperate to get ANY kind of short term return on and were able to refurbish them at the end at a wholsale cost just to see them go away,Smitty
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Old 04-14-2006, 07:37 AM
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Default Re: Pros and Cons of Leasing a Go-Fast

Not a good idea.....L I A B I L I T Y

....some above posts are comparing this to cars......NOT EVEN CLOSE.......way to many things can go very wrong on the water and you leave yourself and all your assets wide open for law suites.
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Old 04-14-2006, 03:37 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

Quote:
Originally Posted by tomtbone1993
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...........

But you are better off because of higher resale and therefore lower deprecition going high end in a lease over going lower.

My last leased vehicle was in 1998. I chose the Navigator over the Expedition for two reasons. Free servicing while under warrenty, included tires and brakes. The second the Nav would be worth more at the end of my lease.
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Old 04-14-2006, 03:48 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

[QUOTE=Zudnic]But you are better off because of higher resale and therefore lower deprecition going high end in a lease over going lower.

yep
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Old 04-15-2006, 12:46 PM
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Default Re: Pros and Cons of Leasing a Go-Fast

What are some of the insurance ramifications if, instead of leasing a boat to a lessee for 6 months at a time, the owner rented the boat for a weekend at a time? Say, $2,000 bucks rental fee plus some kind of insurance waiver and fuel expense. Then the renter is completely free of responsibility beyond the weekend, albeit a little expensive weekend. A club could be started whereby 4 renters alternate weekends for a summer of 3 months. Tootal rental fee is $6,000 plus insurance and fuel. Im looking for feedback in concept, please dont read into the actual fee or the number of renters.

Thanks.
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