lease to own

[ltellez]

im desperately seeking to live aboard and possibly leasing to own... ive had this dream for a while. any ideas out there.

[a64pilot]

I have never seen a lease to own deal, maybe though?

[denverd0n]

Same here. Never seen it. Good luck finding someone willing to do a lease-to-own on a boat, but don't hold your breath.

[john61ct]

Maybe if you had solid collateral worth a lot more than the boat, but a straight loan would make more sense.

The main advantage of leasing would be if it were a business expense.

[fSymo]

Do you mean a Mortgage? Because you can get a mortgage on a boat, since it qualifies as a home. A 10 year mortgage on a 25k boat would keep your monthly payment under 300 bucks, if that's the angle you're going for to keep your costs down.

[indiana_ct]

A lease would most likely be available on an expensive boat. Is there any reason why you could not just buy a very cheap boat? Most boating expense seems not to be in the boat itself.

[Pete7]

The OP last logged in at 1446 hrs on the 10th. Not sure why folk post these questions and then don't come back to see the answers

[indiana_ct]

Originally Posted by Pete7

The OP last logged in at 1446 hrs on the 10th. Not sure why folk post these questions and then don't come back to see the answers

Maybe no Internet access since then? Forgot the password already or forgot what forum he or she posted on.
I'd give the benefit of the doubt but I do see your point.

[SV Bacchus]

Since the OP hasn't come back this may be moot but I'll throw it out there: I knew a couple that did a lease purchase from a maritime academy. The academy apparently accepts boat donations to help fund the academy, refurbishes as needed and then lease/sells to raise money. Terms are pretty stiff though. I believe it was something like a 1/3 down, payments for 2 or 4 years that amounted to another 1/3 and at that time the final 1/3 was due.

The maritime academy they found that did this was somewhere in Maine.

The thought process was it got you into a boat while you were trying to sell something, i.e. another boat or a house or whatever.

[john61ct]

People don't need to log in to see answers.

And good answers help those googling later.