Many people are asking why renting a yacht is better than owning. What are the main differences and why they should choose one or go for the other option? It is a very controversial question and the answer depends on your particular situation that includes the amount of money you are ready to spend on your hobby, free time and the lifestyle in general. Of course, it’s a very serious decision that should be analysed with all its pros and cons to make sure that you make the right choice.
Broadly speaking there are several economic and noneconomic criteria used to estimate the return on purchase or to figure out why you should consider a boat rental. Among these crucial factors are encountered:
1. Tangible part – Economics
Normally people tend to use a yacht around 2-4 weeks per year. Of course, there are some exceptions, however, this rule is applicable in the majority of cases keeping in mind the average vacation duration. The planned period of exploitation is the first thing to think about if you are considering whether to rent or buy a yacht. Let’s count that, roughly speaking, renting a sailing boat in the high season will cost you about 2,000 euros per week depending on the yacht model, the brand, the year when it was launched and your destination. However, don’t forget that in a case you don’t have a sailing license or don’t feel secure to navigate alone, you may need a skipper whose services go for about 150 euros or about 1,050 euros per week on average. As for further details, don’t forget about the final cleaning expenses that stay at around 100 euros. You also need to keep in mind that you will need to pay a security deposit when making a reservation. Don’t forget that you can share all these expenses with your travel companions making yacht charter an affordable way to have an amazing time on your next holidays.
Now let’s consider if you want to purchase a yacht. Well, lucky you! It’s the first thought that comes to the mind, but normally some factors may make people regret about the hasty decision. Just think if you are ready to spend a minimum of around 70,000 euros on it and additionally quite a lot on mooring, regular technical inspection, some taxes. Legal formalities and port procedures also require your attention and time, which is the most important being a scarce resource. Well, you always have an option to hire somebody to do it for you, anyway, additional costs rising in a geometrical progression are guaranteed. Just imagine a situation if you want to sail on your wonderful yacht that you’ve just bought and you need a skipper, well, you’d better to start searching as soon as possible because it’s always easy to find anybody but quite hard to find somebody reliable and with the solid background and experience. So, if you go sailing for a long time, the skipper/captain can require higher salary, however, here everything depends on you and your ability to negotiate. To conclude the previous idea about the set of additional expenses, you’ll need to think about insurance and repair works. That´s why buying a yacht looks like a new sophisticated toy for “children” or passionate navigation and yachting fans. In the real life the main part of the “lucky owners” try to get rid from this expensive toy in several years after the purchase or to rent it to somebody as an alternative.
2. The freedom of navigation
You can rent a boat in any destination you want without going deeper into details of mooring. While planning your route, you have an additional advantage of being able to finish your sailing journey somewhere else and to leave your rented yacht there without the need to return it to the initial port. Take a look at the advantages of yacht rental. The world is yours! You can choose any of the established routes or make your own, everything depends on your fantasy and preferences. Boat rental provides you with more flexibility, you can choose a new sailing destination everyt time you go on your sailing vacation: Mediterranean, Caribbean, Australia, any place you dream about, while crossing so large distances with your own sailboat is something almost impossible.
3. The freedom of choice
When choosing a boat rental you have an opportunity to enjoy sailing on a new yacht switching the models each time. Which yacht do you like best this year? Each holiday you can try a different model just because your tastes have changed or you’ve decided to try a new one. So, if craving for new things is among your aspirations, try a boat rental and you’ll enjoy a new sailing experience each and every time!
4. Amortization price
According to the basic economic principle, the value of a product decreases with time. If you purchase a boat at a decent price, you will need to sell it with a huge discount in, let’s say, 5 years. There are different criteria to determine it more precisely taking into account the exploitation time, general condition and technical aspects. Just think about the possibilities to spend the money wiser, for instance, by making a deposit in a bank or through shares where you can gain a profit from 3 to 20% per year. At the same time you you shouldn’t forget about liquidity or how quickly you can obtain the real money. In this particular case it becomes quite difficult to sell a yacht at the price that you determine initially.
Buying a boat is an enormous investment of money, so it is necessary to take into account a variety of factors when we are trying to make that decision. Maintenance costs of a boat, plus the berths and the different taxes, among others, may increase the final costs that must be paid monthly in order to preserve our boat. Taking into account that normally people do not sail throughout the year but just sometimes during summer, it is better to rent a boat during our vacations so that we are able to save the money we would have otherwise spent maintaining our yacht. In addition, if we rent a boat we can choose among a wide variety of types of ships, from a zodiac to motorboats or sailboats wherever the client wants to sail.
In addition, if we have our own boat, it is really expensive to transport it everywhere we want to sail. Nevertheless, if we rent a boat it is possible to sail in awesome places such as Phuket, in Thailand, Sibenik, in Croatia, Corsica, Stockholm or even the British Virgin Islands paying much less than if we stayed in a hotel, and much less than the resulting costs of transporting our own boat to those places. Each sailing vacation can become a new adventure in which we can choose the kind of boat we want and the destination we wish! Definitely, the advantages of renting a boat outnumber the ones from buying it.
Not convinced yet? Visit us and find out more about boat rental advantages and possibilities!