By Sharon Jones
If you dream of spending your weekends on the clear blue waters, enjoying the sunshine and relaxing on a boat, you may be wondering whether the best approach is to buy or rent. There is no right or wrong solution, as there are pros and cons associated with both options. Let’s take a look at each approach in further detail to help you make up your mind…
PROS OF RENTING A BOAT / CONS OF BUYING A BOAT
Let’s start with the most obvious benefit of renting, and this is the flexibility that comes with it. You can try before you buy, so to speak. This will help you to determine whether a boat is right for your lifestyle and if it is something you will get enough use out of. Another evident benefit is the cost. A lot of people find it more manageable to rent a boat, as they will make manageable payments, as and when they need it. However, when you buy a boat, you obviously need to make a large upfront investment.
There are also additional costs that are associated with owning a boat. This includes maintenance, and you may need to pay for custom boat docks and, of course, storage too. A lot of people prefer the certainty that comes with renting. You know exactly what you are paying because you won’t need to take care of repairs and such like, meaning no nasty surprises along the way.
PROS OF BUYING A BOAT / CONS OF RENTING A BOAT
The main benefit associated with buying a boat is clearly the fact that you will own it. You will have something to show for your money – something that is yours, and something that you can sell when you no longer need it. Plus, while buying may cost more to begin with, you will often spend a lot more in the long run if you rent a boat. Plus, a lot of people will say that you stand a greater chance of breaking down on the water if you rent because the maintenance on a lot of rental fleets is substandard. Of course, this depends on where you hire the boat.
Another con associated with renting that a lot of people overlook is that you are going to have to haul all of your gear to and from the boat with each and every trip you take. This means everything you have aboard needs to go in and out of the car, and be transported to the boat, and then back again every time. If you own the boat, you can load it up with the gear you need and leave it on board for next time.
Hopefully, you now have a better understanding of the pros and cons linked with owning and renting a boat. Of course, it is all about determining what is right for you. Consider the option with the greatest benefits in your eyes, and make sure you can handle the downsides.