mike6010
New Member
Can any one give me some advise on buying a yacht through a charter company?? /forums/images/graemlins/confused.gif
buying a charter yacht
- Thread starter mike6010
- Start date
Richard10002
Well-Known Member
bobupanddown
Well-Known Member
I bought a boat from Sunsail a few years ago. What do you need to know?
mikehibb
Well-Known Member
I am currently buying one from Sunsail. Just sent you a PM.
Oh and survey is Friday, I am getting twitchy already waiting for the (hopefully positive) report.
We went down to the Sunsail pontoon a day earlier than our appointment, we wanted to have a look around and see how they were cleaning/preping the boats after they came in after a weeks charter, we were very pleased with the detail that they paid to looking after them.
Also gave us the oportunity to have a look at similar boats to compare them with.
Oh and survey is Friday, I am getting twitchy already waiting for the (hopefully positive) report.
We went down to the Sunsail pontoon a day earlier than our appointment, we wanted to have a look around and see how they were cleaning/preping the boats after they came in after a weeks charter, we were very pleased with the detail that they paid to looking after them.
Also gave us the oportunity to have a look at similar boats to compare them with.
Norman_E
Well-Known Member
Do you mean buying a new boat to put in charter, or buying an ex charter boat to sail yourself?
I have done the latter, and got a good boat at a fair price. The former however requires careful calculation of the return on capital, as the deals on offer now do not look as good as some of the guaranteed return deals of a few years back.
I have done the latter, and got a good boat at a fair price. The former however requires careful calculation of the return on capital, as the deals on offer now do not look as good as some of the guaranteed return deals of a few years back.
mike6010
New Member
just about everything??What make ? was it a good deal, would you do it again ?
Thank's
Thank's
captainslarty
N/A
depends what you want to do with it ?
Re charter it..
Sail it
Cruise it
Live on it
Sell it
each has its own plus n minus...
define why you want it please
Re charter it..
Sail it
Cruise it
Live on it
Sell it
each has its own plus n minus...
define why you want it please
mike6010
New Member
I was thinking of a new boat,out to charter to help with the finances? possably trade up after the first period.... Really not sure , To add to the confusion I am a South African living in Sweden. No supprise I'm confused. /forums/images/graemlins/confused.gif
Sailfree
Well-Known Member
I have posted this before but this question continues to reoccur.
Over last 9 years I have owned 3 charter boats on South Coast. PM me if you want to discuss.
I have heard all the arguments and some people do some creative accountancy but if you do it legally you are really just reducing the cost of yacht ownership and losing the pride of ownership. Some people have their own car and are proud of it ,some have a company car, and some drive a "pool" car. Owning a charter yacht is having a "pool" yacht.
There are risks as charter companies rarely take on repair costs (they arrange the necessary repairs but don't pay for them! - other than those they can recoup from the charterer) and a number of charterers hide anything they break that may not be obvious. If the boat is reliable (I found out the hard way that Volvo Penta were not!) and fairly robust (it may go aground!) you can seriously reduce the cost of ownership but don't look at it as an investment. If it was such a good investment Charter companies would not be chartering your boat out but their own ones to make more money! The repair risk is a double wammy as you not only pay for the repair but loose the income during the repair. While a security deposit is normally required it covers the insurance excess but not the loss of no claim bonus at next years renewal.
If you ever want to buy a new boat you won't get better unbiased advice than from a charter company that is not linked by cheap purchase deals to certain makes on which boats are reliable and take the heavy wear of chartering. It certainly ruled out one make of boat during our last purchase.
The biggest advantage when I started was to reclaim VAT in UK and I could offset losses but registering for VAT in UK for charter yachts has become difficult and Greedy Gordon is after the people who own charter boats and the IR now refuse to let you offset losses. It cost me £10k payment to the IR last year. Frankly if I was not already in the charter business I could not financially justfy starting in the UK now. I suspect that the UK charter market will slowly decline and be another industry this government has killed.
Over last 9 years I have owned 3 charter boats on South Coast. PM me if you want to discuss.
I have heard all the arguments and some people do some creative accountancy but if you do it legally you are really just reducing the cost of yacht ownership and losing the pride of ownership. Some people have their own car and are proud of it ,some have a company car, and some drive a "pool" car. Owning a charter yacht is having a "pool" yacht.
There are risks as charter companies rarely take on repair costs (they arrange the necessary repairs but don't pay for them! - other than those they can recoup from the charterer) and a number of charterers hide anything they break that may not be obvious. If the boat is reliable (I found out the hard way that Volvo Penta were not!) and fairly robust (it may go aground!) you can seriously reduce the cost of ownership but don't look at it as an investment. If it was such a good investment Charter companies would not be chartering your boat out but their own ones to make more money! The repair risk is a double wammy as you not only pay for the repair but loose the income during the repair. While a security deposit is normally required it covers the insurance excess but not the loss of no claim bonus at next years renewal.
If you ever want to buy a new boat you won't get better unbiased advice than from a charter company that is not linked by cheap purchase deals to certain makes on which boats are reliable and take the heavy wear of chartering. It certainly ruled out one make of boat during our last purchase.
The biggest advantage when I started was to reclaim VAT in UK and I could offset losses but registering for VAT in UK for charter yachts has become difficult and Greedy Gordon is after the people who own charter boats and the IR now refuse to let you offset losses. It cost me £10k payment to the IR last year. Frankly if I was not already in the charter business I could not financially justfy starting in the UK now. I suspect that the UK charter market will slowly decline and be another industry this government has killed.
