For boat enthusiasts, there is a, everlasting debate around whether it’s best to buy or rent a vessel. There are advantages and disadvantages to both methods.
Still, on an individual level, the right choice will depend on a number of different factors – most importantly, the budget and level of boating knowledge and expertise.
Here are a few factors to consider when pursuing a new boat.
Initial Considerations
There is no right or wrong choice when it comes to the decision to rent or buy. It is important to establish that right off the bat.
The decision is unique to each captain and their family. The answer will be affected by flexibility, cost, maintenance and upkeep needs, storage and ownership.
– Before weighing up each of the pros and cons, be sure to ask and explore the following questions.
– Where will the boat be kept, and is there extra storage costs involved?
– How often would the boat be used?
– Who is trained and registered to operate the boat both safely and legally?
Answering those questions should be able to give an idea of buying vs renting. It is important to also consider previous experience.
If there is a limited knowledge and/or experience in boating, it may be worth renting first to ‘test the waters’ – pun intended!
The first step for any budding boater should be boat rental as it allows initial experience on the water. It’s the best way to learn very quickly if this is going to become a long-term hobby or if it is simply a brief flight of fancy.
For more established boaters ready to buy, there are a few important factors to consider in the buying process.
Buying a Boat
When buying a boat, there are many advantages as opposed to renting. Firstly, there’s customization. From outrageous paint jobs to internal builds, buying a boat offers the freedom to tailor the vessel. When the boat is owned, almost everything can be changed as long as it adhered to local laws and regulations.
Secondly, owning a boat is a sound investment. This is assuming, of course, that is is taken care of. Ownership is not only a financial investment; it can be a social investment too. Owning a boat can lead to further personal and professional opportunities.
When owning a boat, the owner is able to track the upkeep on the vessel and be sure it is very well maintained. With rented boats, it is less likely to be cared for because the people who hire the boat aren’t that overly cautious with how it is taken care of. It is often the case of maximum profit and minimal upkeep with boat rental companies and over time, this can be detrimental to the boat’s physical health. This can lead to trouble during a trip such as the boat breaking down unexpectedly.
If buying a boat seems the most feasible option, it is recommended to use a reliable website that offers luxury boats for sale. There’s always vessels being offered at most budgets and preferences.
Renting a Boat
Renting a boat comes with many advantages too. Firstly, is the luxury of choice and not being tied down to any one boat in any one area. Boats can be rented almost anywhere in the world and it is simply a matter of dropping off the rental without having to worry about storage fees.
Renting a boat is also often cheaper in the short term as there is no responsibility for additional fees that are associated with owning a boat. For example, all boats require maintenance, but when renting, it is the responsibility of the owner for the cleaning and maintenance of the boat.
Another advantage of renting a boat is trying different types and styles of boating. When starting out and looking for boats for sale, this is hugely advantageous as it helps to steer toward a decision when purchasing a boat.