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like a share on the water
Description – Affordable luxury speed boat timeshare in Hoboken.
Website – www.yacht-smart.com
Address – 1 13th St, Hoboken, New Jersey ( NJ ) 07030
Telephone – (201) 656-1636, Fax – (201) 656-1636
I had the pleasure of speaking with Karly and John, who are the proprietors of Yacht-Smart, the new timeshare based boating business.
Having not seen their website, I had many questions as to how this program worked. And I'll tell you that this is a great idea, because for the people I've known that got into a boat purchase learned very quickly the hassle and cost of owning a decent craft. Most individuals are no longer owners.
Think about this, you buy a $92,000, 26' cabin cruiser. How often are you going to use it? And aren't you going to dread caring for it during the winter months? Unless you're "swimming" in cash, it's a pretty stupid idea.
This is great way to get the feel for what it's like to be a boat owner, without the expense or hassle. Here's the details.
The primary program, "The Admiral Program" is as follows:
- $525 per month (it's an annual program, so you pay even during the winter months, but if you pre-pay the year it's only 10 months.)
- The "season" is about 7 months.
- You get the boat at least 7 time-slots per month (there are two time slots per day).
- cost of ANY fuel used is borne by member.
You'll need to get trained and certified, which costs $1000.
Additionally, a $2500 refundable security deposit is required.
So the bottom line is, you are guaranteed to be able to use this nice boat at least 49 times per summer. Not including fuel costs (which are high now), that averages out to a "rental" fee of about $125 per trip, which isn't that shabby, especially since you can just walk away at the end of the year.
I would imagine if you spent $92K on a boat, and after insurance, hauling, etc, you decided to re-sell it after a year, the depreciation and expense would far exceed $6250.
They also offer "1/2 shares" for $300 per month (which is genius marketing for them, since their net profit would be higher 🙂 )
Currently, they are almost maxed out with the TWO boats in service, and they most likely going to be adding more as the demand increases. Each boat, FYI can have a MAXIMUM of 8 timeshare owners per year.
Check their website out, give them a call or go down to the Marina to learn more!