I think the break even point is 10 days a year. I base this on a $500 a day tritoon that would probably cost $50,000 to buy new. That works out to $5,000 a year for depreciation, maintenance, storage, insurance, etc. Larger vessels would cost more to rent but have bigger carrying costs too. Monetarily I think it’s 10 days to get your moneys worth. There are other factors - maybe convenience, not being stuck with a marinas schedule, getting something not commonly available as a rental (performance boat?) etc that may impact your decision. The worst is buying a toy you hardly use that costs you money and deteriorates while it sits.
Nice comparison. Thanks for that. I have another option for you that falls mostly on the "rent" side, but addresses some of the concerns you listed about renting. I am a member of Freedom Boat Club in Ottawa. This summer will be my 3rd season with them. Before FBC, I had no prior experience (well, a little way back when I was a teenager) with boating but when Covid hit and my special needs son's day program was cancelled, we needed a way to get him out of the house and kept busy so we looked at boating. It was actually my wife that discovered FBC. Like everything in boating, it wasn't cheap, but the benefits certainly outweigh the cost (at least for us). FBC gives you unlimited access to boats at your "home" club (it's a franchise/multi-territory thing). In year 1, this was access to the Rideau River around Manotick, Kars, and south almost to Merrickville. In year 2, it expanded to the Ottawa River from downtown to Montebello. And this year, we are expanding to near Kingston on the St Lawrence. My monthly dues give me access to boats on 3 rivers across several hundred KMs of waterways. And... you can reserve boats at other member clubs outside your home club. Like Toronto (which has 3 locations), Nova Scotia (2) and all over the US. So what this gives us is: 1. Unlimited access to new boats (never more than 2 years old I think). 2. Cost certainty and no worry. All we pay is our dues, gas for our trips and that's it. Maintenance, slip fees, insurance, dock staff are all paid for. 3. Access to clubs all over North America (and France for some reason lol). So when we go on vacation, we can reserve boats in other FBC clubs 4. Access to different kinds of boats. Bowriders, deck boats, pontoons and now center consoles. All well-equipped and decently powered... and new anyway, I didn't intend on writing this much, but we had looked into renting and it seemed to expensive for what you got. We cannot afford to own, at least right now, and it limits you in many ways and adds a lot of complexity (especially if trailering). We recommend Freedom Boat Club. Our experience with the Ottawa franchise has been very good so far.
@@boatinglessons yes, I did know that. It was actually how I found your CZcams channel in the 1st place. Great stuff! We hope to get down your way this summer. Maybe we will rent a boat 😀
Greetings from Costa Rica. Great information. I have been debating whether to keep renting when I return to the U.S. for visits. Or, buy and sail back to Costa Rica, where maintenance and operating costs are cheaper. This also gives me the opportunity to sail through The Panama Canal!
I recently looked into renting, well not renting but buying into a membership that is $1500 a month $500 day rate everytime I take the boat out. I have only 6-8 allocations a month access to 3 different boats the smallest being a 44 foot, And the largest being a 55foot that sleeps 6 I already own a small bay liner 175 but I would like to experience the big luxury boats, This would cost over AUD30k a year, I’m going to the marina this week to have a look in person, Maybe they have some terms where I might feel comfortable signing up. It’s a lot of money and I only plan to do it for a year max if membership allows
We love our Freedom Boat Club membership. It is quite painful paying our dues in Feb when it's -25c here but at least that keeps the payments spread out across the whole year 😎
What has your experience been? Have you been renting for years and it works for you? Or do you love the pride and freedom that boat ownership gives?
I think the break even point is 10 days a year. I base this on a $500 a day tritoon that would probably cost $50,000 to buy new. That works out to $5,000 a year for depreciation, maintenance, storage, insurance, etc. Larger vessels would cost more to rent but have bigger carrying costs too. Monetarily I think it’s 10 days to get your moneys worth. There are other factors - maybe convenience, not being stuck with a marinas schedule, getting something not commonly available as a rental (performance boat?) etc that may impact your decision. The worst is buying a toy you hardly use that costs you money and deteriorates while it sits.
Nice comparison. Thanks for that. I have another option for you that falls mostly on the "rent" side, but addresses some of the concerns you listed about renting.
I am a member of Freedom Boat Club in Ottawa. This summer will be my 3rd season with them. Before FBC, I had no prior experience (well, a little way back when I was a teenager) with boating but when Covid hit and my special needs son's day program was cancelled, we needed a way to get him out of the house and kept busy so we looked at boating.
It was actually my wife that discovered FBC. Like everything in boating, it wasn't cheap, but the benefits certainly outweigh the cost (at least for us).
FBC gives you unlimited access to boats at your "home" club (it's a franchise/multi-territory thing). In year 1, this was access to the Rideau River around Manotick, Kars, and south almost to Merrickville. In year 2, it expanded to the Ottawa River from downtown to Montebello. And this year, we are expanding to near Kingston on the St Lawrence. My monthly dues give me access to boats on 3 rivers across several hundred KMs of waterways. And... you can reserve boats at other member clubs outside your home club. Like Toronto (which has 3 locations), Nova Scotia (2) and all over the US.
So what this gives us is:
1. Unlimited access to new boats (never more than 2 years old I think).
2. Cost certainty and no worry. All we pay is our dues, gas for our trips and that's it. Maintenance, slip fees, insurance, dock staff are all paid for.
3. Access to clubs all over North America (and France for some reason lol). So when we go on vacation, we can reserve boats in other FBC clubs
4. Access to different kinds of boats. Bowriders, deck boats, pontoons and now center consoles. All well-equipped and decently powered... and new
anyway, I didn't intend on writing this much, but we had looked into renting and it seemed to expensive for what you got. We cannot afford to own, at least right now, and it limits you in many ways and adds a lot of complexity (especially if trailering).
We recommend Freedom Boat Club. Our experience with the Ottawa franchise has been very good so far.
Glad it is working for you Andrew. Some of their boats came from Len's Cove actually :-)
@@boatinglessons yes, I did know that. It was actually how I found your CZcams channel in the 1st place. Great stuff!
We hope to get down your way this summer. Maybe we will rent a boat 😀
@@mojophonic Would love to meet you if you are through the area :-)
My boat rental dealer even pointed out to me how much I could save buying instead of renting. They are good sales folks and the math did make sense.
It can go both ways - glad they were straightforward for you.
If it floats, flies or f##ks, cheaper to rent.
I’m surprised nobody has come up with a boat lease…….like cars.
Greetings from Costa Rica. Great information. I have been debating whether to keep renting when I return to the U.S. for visits. Or, buy and sail back to Costa Rica, where maintenance and operating costs are cheaper. This also gives me the opportunity to sail through The Panama Canal!
I recently looked into renting, well not renting but buying into a membership that is $1500 a month $500 day rate everytime I take the boat out.
I have only 6-8 allocations a month access to 3 different boats the smallest being a 44 foot,
And the largest being a 55foot that sleeps 6
I already own a small bay liner 175 but I would like to experience the big luxury boats,
This would cost over AUD30k a year, I’m going to the marina this week to have a look in person,
Maybe they have some terms where I might feel comfortable signing up.
It’s a lot of money and I only plan to do it for a year max if membership allows
Is it common for someone to rent a boat for a whole season?
What are your thoughts on boat clubs? They seem to be popping up more these days.
We love our Freedom Boat Club membership. It is quite painful paying our dues in Feb when it's -25c here but at least that keeps the payments spread out across the whole year 😎
artcza
czcams.com/play/PLatBUqXIPJGj7c_CsXA3X6WeCYjRcT1Hz.html