To Rent or to Buy a Boat: The Pros & Cons

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To Rent or to Buy a Boat: The Pros & Cons

many boats in a yacht mall

At Natal Power Boats, we know once you enter the world of boating, you will be hooked for life. The space, the freedom, the sea air, just taking a cruise or setting off on a fishing trip…; it’s a wonderful lifestyle, but it’s possible to enjoy it both as a boat owner and by renting a vessel as needed. So, you may wonder, which is better?

Factors to Consider When Renting or Purchasing a Boat

This is not such a simple question to answer. Like all decisions, there is a combination of pros and cons to think about. In this blog, we consider the decision from the following 5 angles.

1. Affordability

Not everyone can afford to buy a boat but that need not stop them from enjoying the experience. Renting is a far more affordable option and is easily accessible to all budgets. It would be a once-off, ad hoc cost without any obligations further down the line. Buying a boat, on the other hand, is a big investment and comes with a number of long-term costs too. Renting seems to win hands-down in this instance.

2. Maintenance

Here’s another win for renting. When you rent, maintenance is never your problem. You never have to worry about what may need fixing on a boat and what it will cost you to do the job. You simply rent someone else’s boat and trust that they are taking good care of it. It’s a load off your mind and your budget.

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Owning a boat requires constant care, frequent maintenance checks and regular servicing and repairs. However, at least you have total control over that process, rather than renting a boat from a stranger and not knowing the vessel’s maintenance record.

3. Commitment

When you choose to buy a boat, you are making a long-term commitment to get the most out of your purchase and to maintain the boat. That’s not for everyone. When you buy a boat, make sure you’re ready for the upkeep and other requirements. If you’re not, it might be worthwhile sticking to the occasional rental.

4. Trust & Safety

Here’s one of the main benefits of owning a boat. You are responsible for all its maintenance and care, but that also means that you know the boat’s history inside and out. You won’t ever be setting out on a trip in a boat that you’ve never seen and have no idea how well maintained it is. To own a boat is to have full confidence in it and its owner.

5. Return on Investment

Boats require a considerable outlay to purchase, and then start to depreciate in value as soon as the transaction is completed. They also tend to stand idle for most of the time (unless you use them in your daily business). None of that makes for a tremendous return on investment. Renting means less upfront expense and no need to worry about making the most of a purchase.

The Bottom Line

On the whole, renting a boat is considerably more hassle-free than owning one. However, owning one’s own boat, if one can afford it, is a wonderful experience and the only way to truly own and enjoy the benefits of the boating lifestyle.

Find Your Boating Bliss at Natal Power Boats

It depends on your needs really. How often do you plan to use the boat? If it’s going to be once in a while, then you’re better off renting. You may even want to rent a couple of times as you’re in that transitional period when you’re not sure whether to buy. If you want to get serious about the boating lifestyle and get out on the water as often as possible, and are prepared to (or even enjoy) the care and maintenance side of things, then look into buying a new or used boat. Contact us and we’ll help you find the perfect new or pre-owned one.

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