How Do I Know When It’s Time to Stop Renting and Buy My Own Luxury Powerboat?

How Do I Know When It’s Time to Stop Renting and Buy My Own Luxury Powerboat?

If you’re a boating beginner, renting is a great way to learn the ropes without the upfront expense. Plus, who knows if you’ll even stick with it beyond the season. But if you’ve been renting boats for a while now, how do you know when it’s time to stop renting and buy your own luxury powerboat? 

Here are a few things to consider if you’re thinking about transitioning from rental to ownership.

What Are the Costs?

Like most things in life, you’ll need to consider the costs. Boat ownership isn’t cheap. Between the initial purchase price, boating insurance, and ongoing maintenance, it can take a toll on your wallet. But depending on how often you go out on the water, renting can actually become the more expensive option.

When you buy a boat, there’s a high upfront cost and low recurring costs. When you rent, there’s a low upfront cost but a high long-term cost. If you want to go boating every weekend (or more frequently), it’s typically cheaper in the long run to buy your own luxury powerboat. If you’re an “every now and then” kind of boater, it might make more financial sense to continue renting.

Maintenance and Upkeep

If you want your luxury powerboat to stay in good condition, you need to take care of it. Maintenance and upkeep are two things that you never have to worry about on a rental boat, but it’s a different story when you become an owner.

You’ll need to think about all the things you have to do to keep your boat in tip-top shape:

  • Cleaning the interior and exterior
  • Flushing the engine after each use
  • Regular oil changes
  • Winterizing (if you live in a cold climate)

While it’s true that maintenance is just another thing to keep track of (and pay for), there is a positive to performing your own maintenance. You can be confident that your boat is properly taken care of and reliable when you go out on the water. When you rent a boat, you never know if it’s been properly maintained. You could head out to sea and break down because the owner forgot to change the oil.

Typically, owned boats are more reliable than rented boats. It’s yours, and you don’t need to rely on someone else to take care of it.

Customized to Your Style

With so many models, styles, and features, boating is a highly personalized recreational activity. When you rent, you’re stuck with whatever options are available. Sometimes, those options might not suit your style or preferences.

For example, most rental boats are base models with very little in the way of luxury or comfort. If you want to relax on the water for a weekend, you might be stuck in a basic fishing boat because that’s all you could find. It won’t make for a very relaxing cruise.

When you’re ready to own, you can shop for the perfect boat that fills every one of your needs. You can get that luxury powerboat you’ve always wanted with top-of-the-line amenities and features to make you the envy of the waterways.

Purchasing your own boat lets you customize every little aspect to ensure your boat fits your style and preferences for optimal boating enjoyment.

Off-Season Storage

Before you commit to buying a luxury powerboat, just know that it’s yours all year long. When you rent, you never need to worry about winter storage. You ride the boat for the weekend, hand the keys back to the owner, and go about your day. When you’re an owner, you’ll need to find somewhere to store your boat during the off-season.

If you live in a city without a garage or space to store your boat, you’ll need to pay to store your boat over the winter. That will add to the cost of ownership and make for some logistic planning in the fall.

But just like the maintenance, storing your own boat will give you the peace of mind that you know it was taken care of in the winter. That rental boat you’re about to take out might have been left outside all winter. You’ll know for sure once the engine breaks down because it has a crack in it.

Complete Freedom

Perhaps one of the biggest benefits of owning your own luxury powerboat is the freedom that comes with it. When you rent, you’re at the mercy of the owner’s schedule. If you want to go out this weekend but there aren’t any boats available, you might want to find something good on Netflix because you won’t be boating.

If you own a boat, you can take it out whenever you feel like it. You won’t have to contact owners, sign rental forms, or make a deposit. Just grab the keys and head out on the water for as long as you want. You’re free to do whatever you want according to your own schedule.

Ready to Purchase a Luxury Powerboat?

Are you tired of using someone else’s boat on their schedule? Perhaps the freedom and personalization of boat ownership are right for you! At Mystic, we build the best luxury powerboats on the market. Our boats have all the power, luxury, and style you could ever want. When you own a Mystic, you’ll be the envy of the marina.

Contact the experts at Mystic to schedule a one-on-one meeting to discuss your needs. We’ll design you a customized luxury powerboat that’s unlike anything else on the water.