Pros & Cons of leasing a boat
Why buy a boat that will inevitably need some type of repairs and you might not want for years. Lease a boat instead! Leasing has grown in popularity in the car world for many years now and it applies in the same way to boats. This is a relatively new area for the boat sales world so it may be difficult to find a dealership with a leasing program but it is catching on more and more every day. There are some major differences when it comes to buying a boat as opposed to leasing it however.
When you lease a boat, you basically make higher monthly payments for a short time such as 2 to 4 years with a low down payment. When you buy a boat, you might need as much as 20 percent of the entire cost as a down payment. That's a lot of money up front. You keep the boat until the agreed upon time elapses and then you can either return it and leave or buy it then. It has aged 3 years so it won't be such a large amount of money up front.
The price of leasing a boat varies greatly depending on where you live. A boat tooling around a small freshwater lake for 3 years isn't going to suffer much wear and tear but a boat going from San Diego to Cabo San Lucas and back once a month is going to be taking some punishment along the way. Climate also plays a big role in how your boat ages. It really isn't a bad deal in the long run because if at the end of your lease you decide to keep the boat, you've already paid it down for a couple of years. You also have the option to take it back and get a brand new one each time. You don't need to invest heavily in repairs or much else when you get a new boat every couple of years.
Obviously, leasing is more expensive on a monthly basis so this option might not appeal to many people but to those who can appreciate it, leasing is a great choice.