Anyone out there own in a charter fleet Sunsal, Moorings etc? If so do you think it is a good deal? How have your experiences been with your charter company? In what condition are the boats after the contract term expires? I am giving ownership some thought, but I want some REAL OWNER feedback before I SINK (no pun intended) some cash into this endevor. I thought it may be a good way to get a boat in the caribbean ready for when I retire. Thanks in advance for your feedback.
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D
dave
charter boat
Bill We looked at both of those groups for our new (in 1999) Beneteau 36CC. Either program promotes the fact that their program will help you own the boat you want. We chose a smaller program in Deltaville. I think that the facts remain the same with any program you use. You will get help with finances...you will get income...but will it be enough to cover your expenses, slippage, additional insurance (you are a charterer now) theft, cleaning programs, loss of gear and worst of all....tremendous wear and tear on YOUR boat. The programs will tell you that the wear and tear are minimal. I would say that unless you are doing this for purely economic reasons, you will cry the first time you see the boat after a mere handful of charters. Dings, bangs, stains, scrapes, holes and I am not talking about the hull. It is like dog years, one year in charter is like seven normal ones. I made enough to cover slippage and insurance and about 15% of my boat payment. What I paid was outrageous...almost every charter had some "additional charge" to me...loss of lines at $100, cushion lost at $200, reattach furling drum at $300 and so on. Factor in the other "charges" and I really only traded dollars. Don't even think of putting a used boat in the program, all now require new boats, and many will even kick you out if the boat is older than 2 years or "looks" old as charterers want NEW. There are few tests to insure that your charterer is capable. Wear and tear was awful...similar to that of a rental car.
Bill We looked at both of those groups for our new (in 1999) Beneteau 36CC. Either program promotes the fact that their program will help you own the boat you want. We chose a smaller program in Deltaville. I think that the facts remain the same with any program you use. You will get help with finances...you will get income...but will it be enough to cover your expenses, slippage, additional insurance (you are a charterer now) theft, cleaning programs, loss of gear and worst of all....tremendous wear and tear on YOUR boat. The programs will tell you that the wear and tear are minimal. I would say that unless you are doing this for purely economic reasons, you will cry the first time you see the boat after a mere handful of charters. Dings, bangs, stains, scrapes, holes and I am not talking about the hull. It is like dog years, one year in charter is like seven normal ones. I made enough to cover slippage and insurance and about 15% of my boat payment. What I paid was outrageous...almost every charter had some "additional charge" to me...loss of lines at $100, cushion lost at $200, reattach furling drum at $300 and so on. Factor in the other "charges" and I really only traded dollars. Don't even think of putting a used boat in the program, all now require new boats, and many will even kick you out if the boat is older than 2 years or "looks" old as charterers want NEW. There are few tests to insure that your charterer is capable. Wear and tear was awful...similar to that of a rental car.
J
Joe
If it is such a good deal....
Bill: The previous points about wear and tear are key elements if you are thinking about using the charter option as a vehicle to ultimatlely own a boat at reduced cost. By the time a charter boat has made it through four or five seasons, it is indeed dog years and the boat will have suffered through years of abuse (generally unintended, but abuse nonetheless). This topic comes up several times each year. The best response I have seen to date is, "if it such a good financial deal, why is it that none of the charter companies own their own boats?"
Bill: The previous points about wear and tear are key elements if you are thinking about using the charter option as a vehicle to ultimatlely own a boat at reduced cost. By the time a charter boat has made it through four or five seasons, it is indeed dog years and the boat will have suffered through years of abuse (generally unintended, but abuse nonetheless). This topic comes up several times each year. The best response I have seen to date is, "if it such a good financial deal, why is it that none of the charter companies own their own boats?"
Nope
Hi Bill - I remember going thru the same thought process. And I chartered a lot of boats, in part to form an opinion about what charter company best had their shit together - thinking I might buy into one of the programs. Alas, I kept thinking about how I drive rental cars. All things considered - mostly the problem of putting an "owner's version" cat into charter (income too low) - I punted the idea and devoted myself to finding the best brokerage cat I could find that met my preferences. Dave S/V Pas de Deux Catana 471-44
Hi Bill - I remember going thru the same thought process. And I chartered a lot of boats, in part to form an opinion about what charter company best had their shit together - thinking I might buy into one of the programs. Alas, I kept thinking about how I drive rental cars. All things considered - mostly the problem of putting an "owner's version" cat into charter (income too low) - I punted the idea and devoted myself to finding the best brokerage cat I could find that met my preferences. Dave S/V Pas de Deux Catana 471-44
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Bill O'D
Dave is right
I've seen the sailboats in Deltaville he's referring to, and I can attest to considerable wear and tear. It would break my heart if I owned one.
I've seen the sailboats in Deltaville he's referring to, and I can attest to considerable wear and tear. It would break my heart if I owned one.
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Tony
hygiene
When i think about someone chartering a boat i own i contemplate what a young couple on a boat in the tropics probably does on every available surface and i decide .... not on my boat t
When i think about someone chartering a boat i own i contemplate what a young couple on a boat in the tropics probably does on every available surface and i decide .... not on my boat t
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Bob
Why not
... put (or leave) your money in a profitable investment until you retire, charter someone else's boat when you can, and then when you do retire, buy a boat that's been used carefully by its owner for 2-3 years. Odds are, you'll be able to find a great boat that's set up better than new, cared for much better than a charter, and you'll pay far less than you would for a new boat, either now or then.
... put (or leave) your money in a profitable investment until you retire, charter someone else's boat when you can, and then when you do retire, buy a boat that's been used carefully by its owner for 2-3 years. Odds are, you'll be able to find a great boat that's set up better than new, cared for much better than a charter, and you'll pay far less than you would for a new boat, either now or then.
B
Bill
That's basically what I have been thinking
All of the reply's so far have been following my thought process, but I am still curious about what kind of income is discussed as opposed to what the true income is and what real charter boat owners think about their investment and the condition of their boats at contract end.
All of the reply's so far have been following my thought process, but I am still curious about what kind of income is discussed as opposed to what the true income is and what real charter boat owners think about their investment and the condition of their boats at contract end.
sailonline.com has ai financial sheet
that goes into the financial details of ownership. I have a boat with sailtime for the past two years and everything has gone well. Yes there are a few dents and dings, but the sailtime manager has kept up on things, and i have been on top of him. Sailtime is different in that it is local and I can keep an eye on things. Also it is not a true charter, in that there are only 6 or 7 people who use the boat. Go to the website, it has a lot of useful information, some free, some not.
that goes into the financial details of ownership. I have a boat with sailtime for the past two years and everything has gone well. Yes there are a few dents and dings, but the sailtime manager has kept up on things, and i have been on top of him. Sailtime is different in that it is local and I can keep an eye on things. Also it is not a true charter, in that there are only 6 or 7 people who use the boat. Go to the website, it has a lot of useful information, some free, some not.
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