Own a Boat VS. Rent a Boat

Yes, boating is probably the most exciting adventure for you just as it is for me. But let’s face it, when we’ve also got other needs, not to mention our families, the dream boat is pushed farther down the shopping list.

Well, thanks to boat rental services, we aren’t entirely out of options. However, when it gets to it boaters always have to face the hard decision – do I buy a boat or just rent a boat? What is the best thing to do? Believe me, I don’t think even the smartest economic analysts would be able to come up with a general answer for us. Truth is, sometimes it’s this. Sometimes, it’s the other.

Let’s look at closely the pros and cons of both and hopefully after reading this, you’d have felt some weight off of those shoulders.

Rent a Boat:

The hard truth is that boats are expensive, and of course, they tend to lose their touch over time. Just like cars, these boats lose value over time. Every time the engine has been used, it depreciates even more and it’s not like you can keep it on stand-by. When you’ve invested so much on buying a boat and it’s just sitting there doing nothing, it gnaws on you. With rentals, you won’t have to think about its long-term value, and you won’t bother with that voice in your head telling you how much money you wasted by not using it.

The beauty of renting a boat too is that you’re not responsible for its maintenance. The cost of maintaining it and keeping it from disintegrating can put holes in your pocket. Renting a boat also allows you to choose from a wide variety depending on the activity if your choice.

Own a Boat:

Economically, it’s much smarter to just buy a boat if you’re not the occasional boater. How about using all the money you used to rent to just buy a boat? That seems like the better option. Of course, if you’ve got the money to spare, then just live the dream all together. Yes, it’s more expensive. Yes, it needs a lot work to maintain. Yes, it might eat your conscience not to use it. But let’s be real, you are going to use it all the time. You love maintaining the boat, because you’re dedicated to it. You know it will be worth it since you know you’ll using and caring for the boat. It’s the sense of ownership that comes with it.

The verdict:

If you can’t afford to shed more bucks on boating, then I suggest you rent. When you can, then buy. It’s that simple. Considering all the other factors that’s been discussed, I’m sure you know what you want to do.