Moorings Lease Arrangement

[Hammertime]

We have sailed with the Moorings a couple of times and plan on buying in a few years. Their lease program has some appeal as it sounds almost too good be true. Has anyone ever owned a boat in the lease program with the Moorings?
Thanks

[svlamorocha]

Originally Posted by Hammertime

We have sailed with the Moorings a couple of times and plan on buying in a few years. Their lease program has some appeal as it sounds almost too good be true. Has anyone ever owned a boat in the lease program with the Moorings?
Thanks

I would be happy to share pluses and minuses of recent experience with Mooring´s sister company Sunsail; which offers the same deal these days. Please send pm if interested.

Charlie

[Ex-Calif]

I am sure svlamorocha has the skinny on the deal. It has to be working or Sunsail and Moorings would not exist.

For me its about whether I could use the owners time properly and I know I couldn't. At the end I have a used boat I have to consider buying or selling.

I'll keep my equity in my bank (hopefully growing)and buy someone else's used cat coming off charter when I am ready to, rather than my equity in "their" boat depreciating.

If I could afford new (without Moorings or SS), I definitely would.

I have been a "used stuff" guy my whole life. Why change now - LOL...

[Ex-Calif]

Here's a thought...

When is a "smart" successful builder going to set up a "lease" program.

Certainly there is huge downside risk (ask Detroit about SUV leases after 2009) but a 5 year lease on a 40 foot cat would be extremely interesting to a lot of buyers.

The equation is pretty simple but I suppose the world still ain't "liquid" enough for this kind of risk.

[Sailorman375]

Problem is in this market, the only people who qualify for a boat loan (or lease for that matter), are in a position to pay cash and do. I was talking to a broker the other day, and he said almost all of the sales these days are cash deals. You have to be gold plated to obtain a boat loan.

[nautical62]

I own a boat with Tui Marine that recently finished it's Moorings contract and is now in Footloose.

This is my bottom line feeling:

If you enjoy chartering often, owning is a way to have a similar experience, more often at less expense. If you use the boat 4 weeks or more per year, I really don't see how you can go wrong compared to chartering.

If you are comparing charter ownership to owning a boat yourself, it gets much more complex, because they are really very different opportunities. If you are only going to sail 4-6 weeks per year, charter management is probably a better deal than owning the same boat yourself - but , is that the real life trade off you'd make? If you'd like to sail 12 weeks or more per year, than it's a different story, same if you live on the ocean and want to hang out on your boat for an evening. It's now a buyer's market, so maybe you can pick up a boat for 25K, that makes you just as happy as that 180K entry level Moorings boat - again that changes everything.

My last comment is that I feel that while my boat has been well used, it has also been very well looked after. People often focus on how heavily used and abused charter boats are, which is true, but I think they often miss both the attention to upkeep and the substantial savings that way more than make up for that wear (Notable income, plus no maintenance, no insurance and no dockage - that's a very substantial savings.) I've seen many private boats for sale that are in much, much worse upkeep than my Moorings boat. (I think you will notice that much of the criticism of charter management comes from people who have actually never done it.)

I could give my boat away now, and would be about even compared to having bought the boat and paid for all the upkeep and other costs myself, so I certainly have no regrets.

Feel free to send me a message if you have any other questions.

All the best in your decision, wherever that may lead.

[denverd0n]

Since I have wondered about this myself, as I'm sure a lot of others have also, I really wish you all would share the details--both questions and answers--in the forum rather than in private messages. After all, the sharing of this kind of information is what makes a forum like this one valuable.

[dergon]

Hi all -

Performing a bit of necromancy on this thread because I am also trying to find detailed information about the Moornings ownership program.

I am hopeful that some of the people "in the know" would be willing to share extensive details in the public forum rather than taking it to PMs.

I think this is a topic in which there is a great deal of interest and a dirth of information from participants.

[boatman61]

Originally Posted by dergon

Hi all -

Performing a bit of necromancy on this thread because I am also trying to find detailed information about the Moornings ownership program.

I am hopeful that some of the people "in the know" would be willing to share extensive details in the public forum rather than taking it to PMs.

I think this is a topic in which there is a great deal of interest and a dirth of information from participants.

Maybe they are wary of possible litigation...
Welcome to CF Hammer...

[Cotemar]

Here are two pdf's that may help explain the Moorings arangement.

[dergon]

Originally Posted by Cotemar

Here are two pdf's that may help explain the Moorings arangement.

Thanks!

I'm still 5-10 years away from any significant life decision on this. But trying to think through just buying outright or doing something a little more no muss no fuss like Moornings.

[Eumelia]

Cotemar, did you forget to attach the two pdf's? I'm not seeing them

[David_Old_Jersey]

I know it doesn't help you much - but I can see them.......

[Eumelia]

Must be the Android app I'm using

[maytrix]

We have a boat in Moorings after having a boat in Sunsail for a little over a year.

Our experience has been great in both and one of the things we love is being able to book last minute and upgrade to other, larger boats at a minimal cost. There's a lot of different ways to get value out of the program and make it work for you, such as taking possesion of the boat at the end of the program, using lots of time and/or upgrading to larger more expensive boats.

Best way to get details is to contact someone in sales and have them send you current offers. It will give you an idea as to the options and costs and you can also review the details of the contract.

Happy to discuss more specifics or answer specific questions via PM.