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Old 20-11-2008, 20:36   #1
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Beneteau fractional yachting question

this is [art of what they show on line,
Best of all, the price and costs are reduced 75%. Imagine that. You get your dreamboat for 1/4 of the price. And with the ability to finance your f
fraction, you could be sailing for as little as $zero down.

from what it looks like you are sharing the boat with 3 other people, any one out there done this i saw sail times and know some people who did that but you share the boat with 7 and it seemed to work out. im more interested in what happens after the 3 years do you sell it and get a new one?
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Old 21-11-2008, 03:02   #2
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Gee ... something for nothing.

The agreement between the owners provides for a 3-year commitment. At the end of the 3 years, the owners sell the boat. Provisions do allow owners to buy each other out, or to collectively decide to keep the yacht.
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Old 21-11-2008, 11:55   #3
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Much like owning a boat in charter, there is some economic sense to joint ownereship on an item that will only be used by an owner a few weeks per year.

One question I'd have is about scheduling time. Since everyone is an owner, what's your ability to get the time you want?

Another thing I'd check into is any owner's fees that may exist. With my boat in charter, I need to pay a daily fee which includes all the linens, fuel, dinghy rental, cookware, supplemental insurance, etc. It's not unreasonable, but it's part of the financial equation. I assume you will have something similar with fractional ownership.

You also have to compare this to your other options. It may be a much better deal than purchasing a similar new boat yourself, but is buying a new similar boat yourself what you would otherwise do? In purchasing a new charter managment boat, how good a deal it turnes out to be will be very dependant on what it sells for in the end. My alternative would not have been to buy a new $120K 33-foot monohull like the one I have in charter, but more likely a 30-year old one for 30K. Let's say I decide to get out of either 5 years down the road. If the market continues to tank, I stand to loose a lot more on a 5-year old Beneteau than I would have on a 35-year old used boat. You may face a similar situation, when your fractional ownership contract runs out and the boat is put on the market. Are you stuck without boating until it sells?

I also think it can be dangerous to get caught up in what you have to put down. Your perecent of the ownership costs what it costs regardless of financing options. Focusing on the lack of down payment or low monthly costs instead of one's equity or liability is the kind of thinking that has many in trouble right now with their home loans.

I don't know your finances or potential alternatives, but those are things to consider.
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Old 23-11-2008, 11:01   #4
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Quote:
Originally Posted by GordMay View Post
Gee ... something for nothing.

The agreement between the owners provides for a 3-year commitment. At the end of the 3 years, the owners sell the boat. Provisions do allow owners to buy each other out, or to collectively decide to keep the yacht.
Give me your capital to run my business and I will let you have the boat a couple or 3 times.

Good deal...
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Old 23-11-2008, 11:16   #5
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That many people involved in the ownership of one boat sounds like a recipe for lots of disagreements and finger pointing. I don't know if any agreement could possibly cover all the scenarios of what could go wrong.
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Old 23-11-2008, 12:31   #6
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David M: your "tree, hole, rabbit" cracks me up each time I see it. And put me on the Randell's list, if he gives me all his money he can use my boat a few times a year. "IF IT SOUNDS TOO GOOD TO BE TRUE..."
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