The most practical ownership program available anywhere
Thinking about buying a new premium boat? Contact us to see if it is eligible for our leasing program. If your new boat fits our criteria for type, quality, equipment and location, it may be eligible for BoattestLEASING’s program. Pick the number of days a year you want to use the boat (no more than 150 days), and we’ll put together the remaining days into lease packages. We'll then show you what you can earn for letting Lessees use your boat – a valuable asset that's going to waste when it sits idle.
Here are just a few of the advantages of leasing your new premium boat
- Substantial Down Payment Recovery
- Monthly Income to help Cover Loan Payments
- Mitigation of Depreciation Loss
- Operations Expenses Cut to a Fraction
- Boat Management by an Expert 3rd Party
- No Time-Robbing Maintenance Chores
- An individual who wants to take advantage of our “Buy, Use & Lease” program must first register. There is no fee for signing up.
- If an owner of a boat that is 3 years old or newer is accepted, a contract is entered into stipulating payments, usage and other matters. Find out more.
- Individuals who desire to buy a new boat of their choice and enter it into our “Buy, Use & Lease” program must contact us for information as to acceptable boat brands, models, sizes, power, equipment, location and other criteria.
- Next, the approved boat’s owner and BoattestLEASING enter into a contract that gives us all rights to manage the boat and lease it for a defined period of time, with all monthly lease proceeds going to the owner. We become responsible for maintaining all aspects of the boat for the lease period, and handling usage reservations.
- An enrollment fee is required upon signing a contract hiring BoattestLEASING to market your boat in order to find and sell the available Leaseholds.
- At the end of all lease terms, BoattestLEASING will immediately relinquish all control of the boat, which reverts back to the owner who may choose to sell or keep it. Depending on the number of days the boat is leased, the vessel’s cost may be substantially covered by lease income, and operational expenses will be reduced to a fraction of what they would have been. .
- The owner may choose the number of boat usage days he wants to retain, and BoattestLEASING will endeavor to lease the remaining days in a fair and equitable manner to all parties. After a deduction of approximately 50 days for a year around boating season for maintenance and repair (in Florida), or 20 days for a 6-month season (in the North), there must be at least 50% of the available days left for leasing.
- Boat owners receive lease down payments, less commissions and fees, when they are paid.
- Boat owners receive 100% of monthly lease payments within 30 days of them being received by BoattestLEASING.
- If the owned boat is being financed, we will direct lease payments to the financial institution involved, with agreement by all parties.
- Operating and maintenance expenses remain the responsibility of the boat owner who receives a monthly invoice for them, less the prorated expenses we collected from the leaseholders. For example, if 50% of the available usage time on the boat is leased, the owner will receive 50% of the maintenance costs from us when paid by the leaseholders.
- BoattestLEASING will accompany all monthly expense invoices with appropriate documentation.
- The first reservation of each year is the prerogative of the boat’s owner. This means a special date can always be made available for the owner on an annual basis. In the event that not all available leases are sold, the unsold usage defaults to the owner in accordance with our policies.
- It may be possible to take a 100% tax credit if the buyer uses the yacht as a business. Talk to your accountant for more information, as this can result in a significant savings for some individuals.
- Please be aware that our “Buy, Use & Lease” program involves risk. We may not be able to sell all Leases available despite our best efforts. For this reason, a consumer should not base their boat buying decision solely on the basis of getting money back through this program.