To Buy or Not to Buy (A Boat)
That is the question.
I like being on the water. Whether it’s cruising around on a pontoon, or getting pulled behind a boat on a float of some sort, I just enjoy lake life. So much, in fact, that I’ve considered buying a boat through the years.
Every few years, we rent a boat on Lake Jocassee for a day in the summer. We’ll invite several people, cruise around the lake, and turn it in at the end of the day. It isn’t cheap, a rental seems to go for about $500 per day, plus fees for accessories and junk. The cost is easily worth it, especially if you have multiple people chip in. I considered, though, what if we just bought a boat?
If you buy a boat, you make payments on it until you own it, and then it’s yours. Eventually, that cost probably evens out and you’re in for cheap lake days for life. You pay for gas, and I guess that’s it. And then, we could go out on the lake whenever we wanted, without that steep cost for the rental.
I ran this idea by a coworker who owns a boat, and he actually discouraged me from buying a boat. It sounds great on paper, but the reality of boat ownership is significantly more annoying. Unless you live on the lake, with access on your own property, it may be a better idea to rent.
First, you have to get your boat onto the water. This means you need some sort of vehicle to tow it between the storage location and the lake. My little Ranger isn’t pulling anything bigger than a canoe, so that won’t cut it. Maybe I could pay someone, or just upgrade to a larger vehicle, but that’s an additional cost. PLUS, you have to fight with the rest of the traffic on the boat ramp, and the Jocassee boat ramp is a cluster. There are way too many people trying to get onto the water, all at the same time and the same place.
So you finally get the boat onto the water, and you have a good time, but then it’s time to leave. You go through the exact same process in reverse, getting through the traffic and loading your boat onto the trailer. All in all, you’re probably losing upwards of an hour or two, just trying to get in and out.
After a few trips, you have a little wear and tear on your boat. Well, that maintenance cost is on you. If parts need to be cleaned, fixed, or replaced, you have to pony up the cost. And then you have to pay for a storage unit of some sort, or have enough space to keep it on your property. Maybe you do this a few times through the summer, and then you still have to deal with a boat for the rest of the year. You’re still making payments for the boat itself, as well as storage and whatever else, for three months or so with no benefit.
And as much as I’d like to think we would go to the lake more with our own boat, I can’t guarantee that we would. I got a kayak for my birthday last year. You know how many times we took that kayak out on the water? None. Zero times. I paid like $400 for a small craft that never touched the water. What happens when you scale that up to the astronomically higher prices of large boats? More money, just as much use.
When you rent, the boat is already in the water and docked. You walk out, step on, and have a good time. After you’re done, you drop the boat off and drive home. You don’t deal with storage, maintenance, or any other headaches. Plus, the boat isn’t your problem for the rest of the year when you couldn’t use it anyway.
Is it expensive to rent a boat? Sure, but it’s probably even more expensive to own one. If you aren’t going more than once or twice a year, renting is the way to go. Your wallet will thank you, and you can enjoy the occasional boating trip without the hassle of owning one.
I like being on the water. Whether it’s cruising around on a pontoon, or getting pulled behind a boat on a float of some sort, I just enjoy lake life. So much, in fact, that I’ve considered buying a boat through the years.
Every few years, we rent a boat on Lake Jocassee for a day in the summer. We’ll invite several people, cruise around the lake, and turn it in at the end of the day. It isn’t cheap, a rental seems to go for about $500 per day, plus fees for accessories and junk. The cost is easily worth it, especially if you have multiple people chip in. I considered, though, what if we just bought a boat?
If you buy a boat, you make payments on it until you own it, and then it’s yours. Eventually, that cost probably evens out and you’re in for cheap lake days for life. You pay for gas, and I guess that’s it. And then, we could go out on the lake whenever we wanted, without that steep cost for the rental.
I ran this idea by a coworker who owns a boat, and he actually discouraged me from buying a boat. It sounds great on paper, but the reality of boat ownership is significantly more annoying. Unless you live on the lake, with access on your own property, it may be a better idea to rent.
First, you have to get your boat onto the water. This means you need some sort of vehicle to tow it between the storage location and the lake. My little Ranger isn’t pulling anything bigger than a canoe, so that won’t cut it. Maybe I could pay someone, or just upgrade to a larger vehicle, but that’s an additional cost. PLUS, you have to fight with the rest of the traffic on the boat ramp, and the Jocassee boat ramp is a cluster. There are way too many people trying to get onto the water, all at the same time and the same place.
So you finally get the boat onto the water, and you have a good time, but then it’s time to leave. You go through the exact same process in reverse, getting through the traffic and loading your boat onto the trailer. All in all, you’re probably losing upwards of an hour or two, just trying to get in and out.
After a few trips, you have a little wear and tear on your boat. Well, that maintenance cost is on you. If parts need to be cleaned, fixed, or replaced, you have to pony up the cost. And then you have to pay for a storage unit of some sort, or have enough space to keep it on your property. Maybe you do this a few times through the summer, and then you still have to deal with a boat for the rest of the year. You’re still making payments for the boat itself, as well as storage and whatever else, for three months or so with no benefit.
And as much as I’d like to think we would go to the lake more with our own boat, I can’t guarantee that we would. I got a kayak for my birthday last year. You know how many times we took that kayak out on the water? None. Zero times. I paid like $400 for a small craft that never touched the water. What happens when you scale that up to the astronomically higher prices of large boats? More money, just as much use.
When you rent, the boat is already in the water and docked. You walk out, step on, and have a good time. After you’re done, you drop the boat off and drive home. You don’t deal with storage, maintenance, or any other headaches. Plus, the boat isn’t your problem for the rest of the year when you couldn’t use it anyway.
Is it expensive to rent a boat? Sure, but it’s probably even more expensive to own one. If you aren’t going more than once or twice a year, renting is the way to go. Your wallet will thank you, and you can enjoy the occasional boating trip without the hassle of owning one.
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