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-   -   Looking for Sunsail/Moorings Owners Feedback? (http://www.sailnet.com/forums/chartering/101230-looking-sunsail-moorings-owners-feedback.html)

Bowedtoothdoc 07-10-2013 10:19 AM

Looking for Sunsail/Moorings Owners Feedback?
 
I have four individuals interested in the Ownership Program with Sunsail on a new 444 Catamaran. We are attempting to see if the financial numbers would make sense. The spreadsheets provided by Sunsail has indicated that at the end of the 5 year term the owners would have around 64K in equity or profit if we decided to sell the boat. So out of our initial investment of 32K per owner we would get almost half of that back. Also each owner would get approximately one week of use per year for five years depending on season. Can anyone comment as to the validity of the information provided by Sunsail and their experience/satisfaction with the ownership program?

svHyLyte 07-10-2013 10:56 AM

Re: Looking for Sunsail/Moorings Owners Feedback?
 
Quote:

Originally Posted by Bowedtoothdoc (Post 1056927)
I have four individuals interested in the Ownership Program with Sunsail on a new 444 Catamaran. We are attempting to see if the financial numbers would make sense. The spreadsheets provided by Sunsail has indicated that at the end of the 5 year term the owners would have around 64K in equity or profit if we decided to sell the boat. So out of our initial investment of 32K per owner we would get almost half of that back. Also each owner would get approximately one week of use per year for five years depending on season. Can anyone comment as to the validity of the information provided by Sunsail and their experience/satisfaction with the ownership program?

Some friends of ours looked into this alternative at one point several years ago and the Company (Sunsail) was quite willing to give them a listing of other owners/participants in the program (that had agreed to allow others to contact them) they could contact for references. I suspect you might find the same true today by simply asking the Company, eh?

Bowedtoothdoc 07-10-2013 11:54 AM

Re: Looking for Sunsail/Moorings Owners Feedback?
 
Thanks for the reply,
That was one of my first questions to the agent involved. Unfortunately I was told that I could not get the information until we were further along in the purchase process including loan approvals and a 2000$ deposit. So that being said I am hoping some happy owners can chime in?

svHyLyte 07-10-2013 12:29 PM

Re: Looking for Sunsail/Moorings Owners Feedback?
 
Quote:

Originally Posted by Bowedtoothdoc (Post 1056974)
Thanks for the reply,
That was one of my first questions to the agent involved. Unfortunately I was told that I could not get the information until we were further along in the purchase process including loan approvals and a 2000$ deposit. So that being said I am hoping some happy owners can chime in?

I don't know whether that was the policy when our neighbors were looking into the program but, if not, I suspect that may be/have been a policy instituted in an effort by the Company to insure that their owners/participants are not repeatedly contacted by folks that are just tire-kickers and, understandably so. N'any case perhaps someone more knowledgeable will chime in. In the mean time, however, there might be some useful information at Sunsail Yachts - SailboatOwners.com

Bowedtoothdoc 07-10-2013 01:38 PM

Re: Looking for Sunsail/Moorings Owners Feedback?
 
Quote:

Originally Posted by svHyLyte (Post 1056996)
I don't know whether that was the policy when our neighbors were looking into the program but, if not, I suspect that may be/have been a policy instituted in an effort by the Company to insure that their owners/participants are not repeatedly contacted by folks that are just tire-kickers and, understandably so. N'any case perhaps someone more knowledgeable will chime in. In the mean time, however, there might be some useful information at Sunsail Yachts - SailboatOwners.com

Your assumption is correct from what I have been told...Thanks for the link!

petem@iafrica.com 07-13-2013 03:40 AM

Re: Looking for Sunsail/Moorings Owners Feedback?
 
We have had 20plus years on a Sunsail programme - 4 of us - and are now on our 5th boat. Been a wonderful investment - sailed in many varied places around the world - used upgrades to larger boats and cats when required. Over the years the 4 of us have got at least a week a year - probably 2 weeks if out of high points use. The roll over has been simple - trade values good if not spectacular. The trick is to try and buy in at the cheapest option in the boat class you want (if boat use is the aim) - if ownership is the ultimate aim then the 5 year period needs to fit with your plans. Boat maintenance has been good to excellent and across our multiple uses there hardly ever has there been a problem. If I never see my original investment so be it - we have had 20 years of wonderful sailing experience.

Options409 07-13-2013 12:09 PM

Re: Looking for Sunsail/Moorings Owners Feedback?
 
I am 3yrs into my first 5 year program. I have a Jeanneau 409 based in Tortola. So far all good. I took a trip to BVI to inspect the condition of the boat earlier this year and was pleasantly surprised by the condition of the boat given the amount of use it gets. Was a lot better than most privately owned/maintained yachts that i see parked at marinas.

There were some small issues, but nothing more than you'd expect.

I am on a French contract since I was living in France at the time of the purchase. I took the deposit down and finance option and chose to receive a fixed income from Sunsail each month. So far they have always paid.

I think unless you want to roll straight over to a new Sunsail contract after the 5yrs, then Sunsail will not give you the value indicated on their cash flow forecast. They play on the fact that your boat is costing you money to maintain once outside the contract and most people are desperate to sell.

I plan to take my boat, cruise the Caribbean for an extended period after the contract expires, so this isn't an issue.

I am sure there are some nightmare stories, but my experience has been great so far. Took the chance to cruise Greece, Thailand, BVI so far. Turkey, Croatia and Tahiti still to go.

Hope this helps.


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