Boat Share - How to Reduce Boating Costs

There are many different ways to save money when owning a boat. Boat sharing is one great option. Whether you're simply sharing with a friend or family member or joining a club where you part lease a boat, there are a few good ways to save money.

Sharing a boat with a friend or family member is the simplest option. This will effectively halve your upfront and ongoing costs. Considering most people rarely use a boat alone it makes good sense to share the burden. This also gives you the ability to spend more than you were originally planning which gives you the opportunity to buy a bigger or newer boat. Boat costs are ongoing and can really sting the back pocket. Sharing with a friend is an ideal way to keep these costs down to a minimum.

Another option to save money is to join a boat lease/share organisation. Quite simply, these clubs ask for an annual fee that entitles you to use a certain boat a set number of times a year. Usually the number is around 10 days a year which seems quite minimal, but I have yet heard of a person who has needed to exceed this quota. This option allows you to have no hassles as the boat will be serviced, moored and looked after with no effort from you. This option also allows you to lease a boat that may be much more expensive than you could ever afford. Ultimately the lease/share option allows you a hassle free boat to use throughout the year at your convenience.

Remember before buying a boat that it is a costly experience. Not only will you be faced with upfront costs for the boat and purchasing fees, you will also be burdened with ongoing costs such as insurances, licensing fees, mooring fees, servicing costs etc. Try to go halves or thirds with someone you know or consider leasing a boat out at your convenience.