The most practical ownership program available anywhere
Thinking about buying a new premium boat? 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 or charter packages and sell them to people who want a more economical way to do premium boating.
Advantages of BoattestLEASING's Program
- Substantial Down Payment Recovery
- Monthly Income to Help Cover Operating Expenses
- Mitigation of Depreciation Loss
- Boat Management by an Expert 3rd Party
- No Time-Robbing Maintenance Chores
- Up to 100% Tax Deduction in 2020
- Active Marketing
- Complete Accounting
- 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.
- 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. 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. This fee is fully refundable if no charters or leases are sold within the first 12 months. Generally, the minimum charter or lease exceeds the cost of the enrollment fee.
- The owner may choose the number of boat usage days he wants to retain, and BoattestLEASING will endeavor to lease or charter the remaining days.
- Boat owners receive lease/charter down payments, less commissions and fees, when they are paid.
- Boat owners receive 100% of monthly lease/charter payments within 30 days of them being received by BoattestLEASING less management fees.
- If the owned boat is being financed, we will direct payments received to the financial institution involved, with agreement by all parties.
- Operating and maintenance expenses remain the responsibility of the boat owner who receives an invoice from the appropriate venders – marinas, insurance companies, dealers for engine service and repairs.
- BoattestLEASING will accompany all monthly expense invoices and income payments with appropriate documentation.
- In 2020, the boat owner may take as a one-time tax deduction up to 100% of the cost of the boat, or that portion of the cost commensurate with the business usage. Talk to your accountant about the details.
- 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.