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Should I put my yacht into a lease program?

Discussion in 'General Yachting Discussion' started by BenSeattle, Aug 20, 2006.

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  1. BenSeattle, Aug 20, 2006
    #1
    BenSeattle

    BenSeattle New Member

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    The yacht I'm GOING to buy, I mean. :)

    We love the idea of a boat for family and business outings, but like many others, I have budget.... one that could be assisted by placing the boat we purchase into a "yacht-lease" arrangement. The potential income from such a move would allow me to buy even more boat, something larger that I wouldn't ordinarily choose based on price, insurance, upkeep and moorage.

    Question is, aside from the normal reservation (i.e. strangers using my boat) has anyone had any positive or negative experiences in this arena?

    Thanks and happy cruising.
  2. AMG, Aug 20, 2006
    #2
    AMG

    AMG YF Moderator

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    I have no such experience, but my advice to yacht buyers, (which is very conservative) is to buy a yacht for the same amount you can put aside to keep it. Like if you have 2 millions accessible for a yacht, just spend 1 on the purchase and have the other to guarantee the running costs.

    Boring, I know, but this will make you sleep a lot better than buying a larger yacht and relying on income from it....
  3. Ken Bracewell, Aug 20, 2006
    #3
    Ken Bracewell

    Ken Bracewell Senior Member

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    Very good advice.
    Chartering should be considered gravy and shouldn't be a factor when buying the boat.
  4. Garry Hartshorn, Aug 21, 2006
    #4
    Garry Hartshorn

    Garry Hartshorn Senior Member

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    You can't count on the income of chartering to many variables, the potential for world events, weather, or anything else may put people off wanting to charter in the area where the boat is. And in many cases I believe that it costs more to set the boat up to charter and advertise than one makes out of it.

    Mind you there have been a FEW that are very successful.