Renting vs. Buying a Boat: The pros and con boat shoppers need to know
It’s an age old question when it comes to so many of life’s most significant purchasing decisions: Do you buy or rent? While this is true of homes and automobiles, it’s also a question many prospective boat owners (or renters) face. We’ll spend some time breaking down a few of the key pros and cons of buying vs. renting a boat.
The biggest benefit of buying a boat is that the money you put into it is more of an investment than an expense. While your boat may depreciate over time, you’ll always have the option of selling it and regaining at least a significant portion of the money you initially put into it.
Likewise, buying a boat gives you a true sense of ownership, which will lead you to add accessories, upgrade parts, and simply take much better care of it, which will ultimately increase its resale value and keep it running at its best for years.
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If you boat regularly, renting a boat means hauling all of the accessories you want on board for each and every trip. For example, if you want to go water skiing, you’ll have to bring those with you each time. The same goes for things like fishing equipment, coolers, and any other conveniences that you would be able to keep on board or in an area near your boat.
Boat ownership provides freedom and autonomy that renting cannot, however, for those who go boating just a few times a year, there are some benefits to renting as well.
Perhaps the biggest benefit is that you don’t have to make a large financial or time commitment to a boat. Although keeping cash in hand is a plus, be prepared to deal with boats that may not be maintained to your standards or available on short notice. It’s also important to remember that the money you pay for each rental goes to the rental company rather than as an investment into your vessel.
Deciding whether to rent or buy a boat is a decision that many boaters face. At Florida Mariner, we are passionate boaters who love boat ownership, and we have plenty of used boats in Florida for you to explore. Find your next vessel today!