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Lease vs. Purchase



Cost Analysis: Boat Purchase vs. Chicago Watercraft's Lease-Share

There are a few boat deals out there that sound like a good deal, but in all reality after the first three years of ownership your boat is worth only a fraction of the value you are paying out to the finance company. Boats average between 15-30% depreciation in the first year and 15-18% in the 2 nd and 3 rd years. In three years you have a boat barely worth two-thirds to half its value. So let's review your finances on a boat in the Commander Level.

$49,000 boat/trailer with 20% down

Loan Payment 12 months

Seasonal expenses

1st year Total Expense

$9,800

$5,400 (10 year Loan)

$14,070

$29,270

Loan Payment 12 months

Seasonal expenses

2nd year Total Expense

Boat's Value Dropped 20% to

$5,400

$14,070

$19,470

$39,200

Loan Payment 12 months

Seasonal expenses

3rd year Total Expense

Boat's Value Dropped 16% to

$5,400

$14,070

$19,470

$32,928

 

3 yrs of expenses & costs = $68,210 Vs. 5,830 x 3 yrs = $17,490

+ 36% Estimated Depreciation

+ 7 more years of $5,400 payments

+ Boat looks older

+ No Monthly Payments

+ Hassle FREE Experience

+ New/Upgraded Boats Yearly


Think of your boat like a Corvette you park in the garage 11 months out of the year. Unless you are retired or have a company with "of age" captains, you won't be using your boat more than 25 times per season. When you consider the amount of time you actually spend on the boat and the price you pay for your boat (in comparison to your Corvette, condo, investments, etc.), there's no comparison or financial return. Chicago Watercraft Lease-Share is the only way to go.
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