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Go Back   SailNet Community > General Interest > General Discussion (sailing related) > Charter Vs. Buying
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Topic Review (Newest First)
03-16-2002 10:01 PM
Peter_pan
Charter Vs. Buying

I''ve been to the BVI. Fly down and rent a boat there.
P.P.
03-03-2002 12:37 PM
Snap
Charter Vs. Buying

Please let me apologize to any and all (and especially to Dana125) who may have had their sensibilities maligned by my post regarding chartering vs. purchasing and then reselling. I certainly meant no harm.

In my comment I assumed that davejam was, in fact, seeking rental advice, not long-term ownership advice. He made no mention of wanting to shoulder the normal responsibilities that generally attend boat ownership nor did he say that he was interested in assuming the commitment it generally takes to own and maintain a sailboat. He simply asked if he would be better off, financially speaking, if he chartered for four months or bought, sailed and then sold at the end of four months. Having owned and maintained several boats, I certainly would not consider owning a sailboat for four months a commitment to boat ownership and would, if given to labeling, liken it more to dealing in "property" leasing. For that reason I felt that he would be much better off, renting, enjoying just the "fun" aspects of boating (although I enjoy the work too) and then turning the boat back over to the leasing company to worry with all the other parts of owning and maintaining.

In my apparently rather feeble attempt to interject some levity into the posts, I have succeeded only in being abrasive. For that I am sincerely sorry and, again, offer an apology to those so offended. FWIW, the comment I quoted was one that was stated by a fellow crewmember and, although not his, came following several failed marriages and some rather large monetary losses involving aircraft and boat ownership; innocently offered by me but probably not appropriate for this Message Board. I accept reproval.

Snap
03-03-2002 08:37 AM
JohnDrake
Charter Vs. Buying

As for BigRed comments... I have always thought the US Navy could be a self funded organization ;o). Perhaps then they would give out bonuses :O)))))
03-03-2002 08:31 AM
JohnDrake
Charter Vs. Buying

I think with Dana125''s comments you have now three ways to go:

1. Charter, 2. Purchase and resell and 3) purchase of a smaller cruiser that can be easily trucked. Perhaps another choice is buying a boat that stays in a charter fleet after you are done and you get the charter income (after expenses ;o)

There is a finite cost breakdown for each that I am sure you can work out. First, you have to decided if you want a boat after you sail for a few months. I recently met a couple in the Keys who had their 30ft boat trucked from New England. Very cost effective. They have had the boat a long time (pehaps its paid off) and whenever they want to get away, even if it is someplace far off, they send the boat. Then they have a boat they know and love. The cost for a small boat might be $2/mi. Their cost from New England and back is probably around $6k. Obviously, this is after the cost of the boat. Trucking a larger boat is about $2.5/mi.

Charter is fine if you have the disposable income and you don''t want a boat after this trip. You may be able to negotiate a much more attractive price for such a long duration trip. This will involve a bit of legwork on your part. Lets even say it comes to a grand per week. We will round that off to perhaps $20k for your adventure, depending on the boat and what you can negotiate.

Buying and selling a boat involves lots of costs. First, the costs involved in your search for a boat, survey, yard fees etc. Then upgrades for your trip and sales tax, slip fees and documentation. All this can easily add up towards $10k depending on the boat. THEN when you go to sell, 10% goes to the brokers, the buyer will certainly get you down from your planned selling price and will ask for some repairs. All THAT will cost you $10k or more depending on your boat. I could be off, but I would suggest that buying and selling a $75-90k boat in the islands will cost $20k.

Hope this helps

03-03-2002 07:54 AM
Dana125
Charter Vs. Buying

davejam (and snap):

Snap first: Your rental comment implies that you''re dealing with property-incredibly crass.

davejam: Maybe a partnership interest is in order. I note in Cruising World and other magazines that part ownerships come up for sale. That may be an option. When you say "we" are you talking about a spouse & kids; just you and your wife.

If it''s just you and your wife, you can scale back to a small cruiser (such as a Pacific Seacraft Dana 24), and even have it freighted over to the islands. It''s small but emminently liveable for a couple, and it will retain a fair resale value.
03-02-2002 09:23 AM
Snap
Charter Vs. Buying

Could it be that, in a rush to judgement, perhaps you overlook the possibility of a committment to perfecting the rental process?
03-02-2002 08:37 AM
Jeff_H
Charter Vs. Buying

Its a shame that the "wise old sage" never learned to make a committment in life.
03-02-2002 07:17 AM
Snap
Charter Vs. Buying

A wise old sage once offered this bit of sound advice, "If it flies, floats or f***s, rent it - don''t buy it."
03-01-2002 12:34 PM
danaa
Charter Vs. Buying

davejam -

The answer to your question is "it depends". If you live near the coast and want to have a boat for after your cruise, then buy one. Remember, you must have the experience for the ocean passage (short as it may be) to get to the wonderful BVI.

If you don''t want a boat for afterwards, then charter it. It is far less hassle. If you''ve got 25k to burn, it will be an experience that will be with you the rest of your life. Spend the extra and go with a reputable company that will assist you (with chase boats) if you have problems. My opinion is if your going to own a boat, it should be for a longer haul then 4 months, otherwise, it is not worth the hassle. Good Luck!
01-21-2002 07:26 AM
bobneidhardt
Charter Vs. Buying

davejam,
I like BigRed''s attitude, but here''s my 2 cents. At, say, $2000. per week, a 3-4 month cruise would cost you $25,000. to $32,000. I would think you could buy a boat in the $75,000. range, maybe a used charter -boat already there - use it and sell it with only half that in net, out of pocket expense. The down side is you will probably need to spend some time with it, making sure it''s right or getting it that way. If you buy directly out of the charter fleet - maybe that can be part of the deal.

I wish I had 3-4 montns to do it!
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