Hiring Vs Buying A Boat – Which Is Better

Hiring Vs Buying A Boat – Which Is Better

There is no doubt that boat rentals is well and truly entering the internet age. Yes, compared to renting a car, boat renting is certainly not an easy job. This is because boat rental are not as common as renting a car. However, things are changing quite a bit and today there are dozens of people are also into renting of boats. However, there is a common question that often comes to the mind of many of us. The question is which is a better option? Renting a boat or buying it outright? We therefore would do well to find answers for the same over the next few lines. Buying a boat involves spending thousands of dollars and therefore for many it could be out of reach. However, this is not the case as far as renting a boat is concerned. Hence, we are happy to share some common advantages as far as boat rentals are concerned.

Buying A Boat Is Expensive Proposition

Buying a boat requires spending big money upfront. In fact it could be tens of thousands of dollars. This would vary on the type of boat, size of boat and the capacity of boat that you are buying. Even a basic boat should cost you around $100,000. If you are planning to go in for a 40 foot yacht you could end up shelling out $800,000 and more. However, this is not the case when you decide to rent a boat. You pay only when you use the boat and therefore the upfront cost is eliminated.

Boats Depreciate Rapidly

There are many who spend quite a bit of time on their boats and yachts and use it even as their home. While it certainly is a great living experience, there are a few points that one cannot ignore. Investing in real estate or landed properties results in appreciation of the property value, this is not the case with buying a boat or yacht. Boats depreciate in value and within a span of 10 years, you can expect the value to go down by more than 50%. Hence, if you are looking it from the investment perspective, there is no doubt that boats are not good investments.

Have You Heard The Term BOAT (Burn Out Another Thousand)

Boats are expensive when it comes to maintenance and therefore the phrase Burn out Another Thousand fits well. You have to regularly spend big money on upkeep and maintenance because boats are always open to the vagaries of nature and they develop corrosion and rusting.