sharing a boat???

[Billdc]

Has anyone shared a boat with another person? Splitting costs and usage. I found a used boat that I just can't justify for my own, but if I could split the cost I would jump right in. I can think of some things that could go bad, but I'm sure there are problems I can't think of, so I'm looking for opinions(yes I know what they say about opinions).

 

[H20Rat]

Re: sharing a boat???

Do you like the person you want to share it with? You probably won't after a year or two of ownership...

Partnership arrangements rarely work out well or last for very long. Things go great, until you either run into major scheduling conflicts, or something breaks and one party doesn't want to repair immediately. (or at least agree to the repair method...) Say for example an engine blows. One guy wants to rebuild that engine, at half the cost of new but also taking 3 times as long. The other guy just wants to drop a new crate engine in ASAP.

Neither party is going to come out of that situation feeling good. Either one guy has to spend alot more $$$ than he expected, or the other has to give up lots of boat time and also suspects the quality of the rebuilt engine.

 

[goin fishin]

Re: sharing a boat???

Best and probably only way to go "sharing a boat" is sharing with a family member, my father and uncles back in the day shared a few boats and worked real well but time share I don't think would work too well just like the time share houses when its busy time everyone wants a piece of time and can just get messy. just my opinion.

 

[Andy'sDelight]

Re: sharing a boat???

It's a tough situation for all the reasons stated above. I purchased my boat on my own but I share it with my godfather, meaning he is welcome to use it if he likes. He helps me with slips costs, some of the mechanical repair costs, and maintenance/fuel costs. With this situation it's clear I own the boat, and my use and decisions take precedence but we do discuss everything together and he gives advice as well that I take into consideration and follow. I like this situation because it does help me financially, I love my godfather to death and am glad he gets to use it a bit for himself, and there's no expectations between us. He helps when he wants, and I never have to ask.

 

[jigngrub]

Re: sharing a boat???

Sharing a boat would be a good way to eventually hate that other person, and they would probably hate you as well!

"What happened to the motor???"

"I dunno? It was running fine the last time I took it out!... what did you do to it?"

"I didn't do anything to it!!! It turned over but wouldn't start!"

" The mechanic said the power head was burnt up, and since you took it out last, you need to pay to fix it!!!"

"It was running fine the last time I had it out, I aint paying for anything!!!"

 

[hostage]

Re: sharing a boat???

There are chances for arguements and drama. Though I think most people would do it w/o an issue so long as they know and have a contract. I think most of us are scared from hearing people that do it and have a bad experience. If one person is very good with the boat and the other person treats it like crap it is easy for one person to get frustated at the other.

There are some boat clubs, where you pay x/year and they give you use of the boat and charge you for fuel usage. There is one where I am like that. You can always rent a boat for a weekend.

 

[Home Cookin']

Re: sharing a boat???

this question has been asked often and the negative opinions come in very strong. I currently share a boat with 7 people (since 1996); I have shared two boats with my sister, which previously had been our dad's and we all shared them--and we had lots of teenagers using them, too.

People use boats a lot less than they think they will, but the expenses never sleep. I think it can be a great arrangement, with the right people and right boat.

I think the answer lies in your tolerance, and acceptance of "wear and tear." Sharing is no place for someone who wants the boat to remain in perfect condition, and who is unforgiving of the mistakes even we experts all make, or the knuckle-head things a teenager does. But a boat that is already "used" is different, because you expect a ding or two, and mechanical issues to occur.

You also have to be able not to resent imbalance. One person will use the boat more than the other, one will do more work than the other. Hopefully the heavy user is the worker. The light user has to accept paying expenses on a boat he doesn't use much, including those natural "wear and tear" items.

The owners have to be on the same page for whether you hire someone or DYI. You also need an agreement in advance as to what happens if one person wants out, or if one person says the boat is beyond repair, or needs an upgrade replacement, or major repair (repower), and the other doesn't. The best way is to decide IN ADVANCE you will take it to a certain shop for its ballpark value and live with it. Decide the terms of one guy buying out the other.

A basic small boat lends itself to sharing; a big or specialty boat does not. A hose it off and forget it fiberglass boat is perfect; the ones that aren't made for outdoor use are a bad idea.

Finally, be very careful about your insurance and titling, and disclose the dual ownership. For the boat with 7 owners we formed a corporation.

 

[paultjohnson]

Re: sharing a boat???

IMHO.... I would only share a boat with someone that I would say, give a thousand bucks too if they needed it and not really care if I got it back..Like my mom and dad for a new washer and dryer, or my kids kids car blew up and they had no way to get to school/work. Yeah it would be nice to get the money back, but if I dont , oh well....I think i would have to have the same mindset with sharing a boat. Otherwise I would expect the deal to cause some serious disagreements and bad feelings....

 

[dsiekman]

Re: sharing a boat???

I suppose it depends. It looks like you have a fairly new boat. Is this a second boat? Maybe a fishing boat or sailboat (Sorry, gut reaction)? In that case maybe. I sort of do that with my friends. Skinny water fishing - one guy's bass boat. Bay fishing - another guy's center console. Cruising - we take my boat. There is no shared ownership and the owner always drives/pays for fuel. Seems to work okay for us.

 

[Home Cookin']

Re: sharing a boat???

one other option--around here, often the owner of a boat lets a reliable, knowledgable, skilled and hard-working friend use the boat when he wants to, and that person does all the maintenance, running around for parts, hauling it out for storms, etc. It takes the right guy for this. Often it's an employee of the boat owner's company, so he already knows the cut of his jib, so to speak. The arrangement allows a guy who can't afford boating to have access and pay with sweat equity.

Not for everyone, obviously, and not likely to occur except in boating communities.

 

[Billdc]

Re: sharing a boat???

thanks for the responses. I had not thought about laying out a maintenance/repairs schedule as per a local trusted mechanic. "If the mechanic says it should be done, we do it". This would be a second boat, and I could probably take care of it myself, but as a second boat I know I will not use it enough to justify the cost in my own mind. And the other guy is at least as picky about his stuff as I am about mine. Thanks again, if and when I do this I'll report back.

 

[Slide]

Re: sharing a boat???

I split my Maxum with a good friend of mine that I have known for 8 years. We drafted a written and signed agreement as to how we would split costs (50/50 for nearly everything including payments, repairs, incidentals, as well as a buyout procedure) and it works pretty well. It's the kind of agreement where you know that the "benefits" are never going to be distributed equally, so as long as you go into it with an open mind (and wallet) it works out just fine.