You Don’t Have To Own It To Enjoy It – Why Buying Summer Toys Is A Waste Of Time
“If it flies or floats, it’s cheaper to rent.”
Why buying is a waste of time, among other things.
You might think that renting doesn’t deliver the same penchant for the open road or water that you’re currently craving, but it does. And, it does so in less time. Choose to rent and you’ve just saved yourself the equivalent of buying the aftershave products your barber tries to sell you in carrying costs. Rental plans are extremely flexible—you can book by day, by weekend or even for the whole season. Most plans cover insurance filings and damages, some even gas. You’d even be able to wipe your hands of storage and towing, saving you time and money.
Renting is also a better way to avoid the respites of buying and selling. So easy as it may be to buy a boat, selling has always proven to be unpredictable. Gas prices and seasonality play an uncomfortably large roll in your ability to sell, and most proud owners of cars and boats are waiting for someone like you to come along and reprieve them of their duties. Toys are hard to sell, and they get even worse as they get older.
But the great paradox here is that if you were to buy a summer toy, you should always buy used. Boats have a depreciation rate of some 75% after being bought new. And with new models coming out every year, it doesn’t make sense to pay for the premium. If your going to buy, put some work in and grind out a deal.
But if we haven’t sold you on saving your change for a rainy day, instead of spending it on the sunny ones, consider that any large investment may in effect tie you down geographically. In order to get your money’s worth of your summer toy, the onus is on you to use it often. Meaning that your summer plans are predetermined from the moment you buy—expensive vacations are suddenly deemed unpractical. This is a big commitment, especially for a summer fling.