| Owning a boat is a dream for many Americans, | | | | scuba gear, discounts at local restaurants |
| but one that can turn into a nightmare of | | | | and a special price on gasoline and oil. |
| unforeseen costs. Many novice boaters don't | | | | |
| realize all the costs associated with | | | | Membership plans vary from club to club. Some |
| purchasing a boat and wind up with an | | | | offer annual memberships with a high initial |
| expensive driveway ornament aside their car | | | | cost and lower costs for renewals. Some offer |
| instead because they can't afford gas, | | | | a flat annual fee with no further rental |
| insurance or the other myriad things boat | | | | costs. Some offer seasonal memberships. Be |
| owners must pay for. | | | | sure you understand all the terms of the |
| | | | membership agreement and don't allow yourself |
| In recent years, enterprising business people | | | | to be pressured into more of a membership |
| have begun offering a solution for the high | | | | than you feel you need. For example, if |
| price of boat ownership: Boat rental clubs. | | | | you're new to boating and unsure how much you |
| These clubs rent out their fleet of boats to | | | | will actually use your membership, a |
| members on a daily, weekend or even monthly | | | | multi-year contract is probably not the best |
| basis at a discounted cost. For example, one | | | | choice for you. |
| marina in Ft. Lauderdale, Florida charges | | | | |
| non-members $329 to rent a 21-foot bow rider, | | | | Finally, if you are an avid boater and plan |
| but a member of the club would pay just $136, | | | | on taking your boat out for several days |
| not including gasoline. | | | | every week, or for a series of long trips, a |
| | | | boat rental club may not offer you the same |
| Typically, boat rental club members must pay | | | | savings as it would a more casual boater. To |
| yearly dues in order to receive the | | | | see if a rental club would save you money, |
| discounted prices. However, once most boaters | | | | total up all the costs associated with your |
| add up the costs of insurance, gasoline, | | | | boat and divide that by the number of days |
| storage, docking and maintenance, not to | | | | you plan to use it in a year. Then add up all |
| mention the actual purchase of the boat | | | | the costs associated with a boat rental club |
| itself, they find that joining a rental club | | | | membership and divide by the number of days |
| saves them money. Boat rental clubs may also | | | | you will use your membership. Whichever |
| offer their members other benefits such as | | | | number is lower will be the most |
| discounts on equipment rentals like skis or | | | | cost-effective option for you. |