Originally Posted by Tony B
What I am curious about in time share boats is what happens after about 20 years when the boat is de-valued to only a small part of the purchase price. Normally with time share condo's they have a much lomger life expectancy and at least the property they are sitting on goes up.
Tony I was curious after reading Per's post and just having seen some of these time share boats in Alameda the other day, I looked into it. I looked up Sailtime I think? Despite the name they have power boats as well. It operates a lot like the charter companies. They get one person to put 20% down to buy a specific boat and then the company takes the boat into the program and deals with everything. Supposedly the money coming in will cover the payments and all the expenses. The "owner" gets the best pick of usage times. Other people sign up for a specific boat with a year commitment and pick from the leftover availability. I believe the deal was the owner had to sign on for three years and could re-up twice after, for one year each time. After five years the boat is out of the program and the "owner" can keep making the payments, sell it, whatever. Can't imagine doing that but probably works very well for a lot of people...