Articles
   
       
       
Pics/Video
   
       
       
Shop
Search
 
 
 
 
 
Home   Articles   Pics/Video   Gear   Wake 101   Events   Community   Forums   Classifieds   Contests   Shop   Search
WAKE WORLD HOME
Email Password
Go Back   WakeWorld > >> Boats, Accessories & Tow Vehicles Archive > Archive through June 17, 2007

Share 
Reply
 
Thread Tools Display Modes
Old    PJ (peeejay)      Join Date: Mar 2002       06-13-2007, 10:37 PM Reply   
if so what are the pros and cons?
Old    Caleb Rountree (dlwsrider)      Join Date: Apr 2007       06-13-2007, 10:41 PM Reply   
my dad co-owns a boat.

the pros are definantly you only pay half the price, you can afford bigger down payments and less intrest then going it alone.

the bad part is that you always have to call and check to see if you can take the boat with you to the lake, you cant just go out and install equipment, if you put a scratch on it or something like that you cant just go "aw crap", you have to explain to your partner what happened and why.

also you have to clear every move u do on the boat with your partner
Old    jason (hbguy)      Join Date: Jun 2005       06-13-2007, 10:52 PM Reply   
I co-owned my last boat. Ditto everything Caleb said. Depending on who you co-own the boat with, it can be worth saving 1/2 the cost of boat ownership. For me, my co-owner was great so it was worth it, but I guarantee you someone will post horror stories about bad co-owners where it wasn't.

One thing you need to figure out before you go into it is what you will do if someone wants out. Unless lightning strikes and you both wake up on the same morning and both say to yourself it is time to sell the boat, one of you will want out before the other does.
Old    Spin2Win (spin2win)      Join Date: Mar 2006       06-13-2007, 11:00 PM Reply   
I co own and its awsome. at the end of the day its still a boat. as long as were safe its all good. I am maticulous about cleaning the boat as well as storng it. It is always in my garage and we split all maintenance costs as well. The only bummer IMO s selling it to get another boat. unless someone buys me out then it is hard. Right now I want a lsv23 however my partner had a horrible expiriance with malibu and wants nothing to do with it.
Old    Brett B. (bbking)      Join Date: Dec 2006       06-14-2007, 7:11 AM Reply   
a really good friend of mines family co-owns a lakehouse w/ the boat and jetski with another couple
Family of 5 co-owning with a couple so its good for the family
during summer, they try to specifiy what weeks they really want it but if its just game they go one family gets 2 weeks then the other gets 2 weeks and so on...

it works well and they split the cost of the home, boat, jetski and i'm sure insurance with it>> but my friends family recently got a boat so now they can go up whenever
Old    Andy Nintzel (andy_nintzel)      Join Date: Sep 2004       06-14-2007, 7:54 AM Reply   
I co-own my boat with my dad, works out great for me. He never uses it, and I am out everyday! Its perfect. The only down fall is I cannot bring it to Cali in the winter.
Old    C.I.E. J-Rod (jarrod)      Join Date: May 2003       06-14-2007, 8:24 AM Reply   
DON'T DO IT!
Old    Nate (jifffy)      Join Date: Jul 2006       06-14-2007, 8:30 AM Reply   
I have in the past, I also say dont do it!
Old    Nick (bird_dog0347)      Join Date: Feb 2006       06-14-2007, 8:34 AM Reply   
I co-own with my roommate so it works out really well. We don't worry about any other problems, we are grown ass men past the point of "breaking up" as friends. Are you and the prospective co-owner responsible? Can you both keep a job? These are things to think about, but if you are both level-headed intelligent, responsible people it could work out perfectly.
Old    Ron (ronnyboy27)      Join Date: Nov 2005       06-14-2007, 8:37 AM Reply   
there was a similar thread about this a few weeks ago and there were some crazy horror stories on it. You may want to search the archives.
Old    Matthew Bird (ldr)      Join Date: Nov 2002       06-14-2007, 8:58 AM Reply   
There are a couple things you want to think about when co owning a boat. You need to make sure your partner will take care of the boat the same way you do. We co owned a boat with a family and my Dad was meticulous in the way that he took care of it. The other partner ran it into a sandbar doing 30 mph while chasing ducks,
we have since sold our share of the boat to a friend. Now the boat is out of service because the other original co owner blew up the engine. So the people who bought us out are debating whether they need to pay to fix it so they can enjoy the summer, all the while knowing that they probably won't get their money back. or do they wait for the other owner to fix (when he gets around to it) and miss out on riding this summer.
Just something to think about.

(Message edited by ldr on June 14, 2007)
Old    LSV rider (ryanandlea)      Join Date: May 2006       06-14-2007, 10:39 AM Reply   
I Co-own my boat with my folks. Talked them into it so I could get a more expensive boat for half the price(I'm a salesman by day, hustler at night!). They put cash down, I make monthly payments. The Problem is we live about 45 minutes away from each other so it usually goes to their place or mine depending on where we board. If it is at my place, it is garaged and cleaned all the time. At his place, sits in a dirt front yard exposed to all.
Then the phone calls begin.
"Why can't we go with you guys?"
"Are you gonna share?"
"when do we get to take it out?"
"What do you mean you are going to the River with your friends and not us?"
AND THE WORST---
"Now what are you gonna screw up?"
and when something doesn't work right- "IT'S ALWAYS MY FAULT!"

Lucky for me, his lake is closing after this summer, and he is considering selling. Fine by me, now that I can afford it, AIR NATIQUE, here "I" come !!
Old    Flux (flux)      Join Date: Jun 2003       06-14-2007, 10:43 AM Reply   
Co-own with my homie, no problems. We are like minded about riding and everything. Keeps expenses down and we have a nice boat.
Old    Rick H (blastmaster)      Join Date: Aug 2001       06-14-2007, 10:55 AM Reply   
Pj:
Where you been? long time no see, Still got your bu? Hit me with an emial. Lets go to Shasta again.
sorry for hijacking thread for aquick shout out.
Rick
Old    alan plotz (alanp)      Join Date: Apr 2001       06-14-2007, 12:38 PM Reply   
i heard a story of a few guys that tri owned a boat and it sounded like a nightmare. everything was detailed out to the point that it would take the fun out of owning the boat. i guess it depends who you own it with. i dont think it is something i would consider. there are plenty of cheaper used boats that will always get the job done for me.
Old    Kelly (sup208)      Join Date: May 2004       06-14-2007, 1:03 PM Reply   
I have co-owned and owned by myself. My first boat I co-owned and it was with a very good friend and it worked out great because we were able to buy more boat than either of us could afford alone. It actually worked out better for me because he hardly used it and it stayed at my house. Later on I bought a new boat and made a deal with the dealership to sell the old one for us. The new one I own by myself and I prefer it that way. I can do what I want with it and do not have to answer to anyone and if anything happens to it I don't have to explain it. That being said, I do co-own my houseboat with a friend but we both own our own wakeboard boats and we usually always go out together anyhow so it works for us and the houseboat is big enough that we could both have guest at the same time and still have room. Bottom line is you have to evaluate what is best for, how long are you willing to commit to the relationship, what if one party wants out, and a whole host of other things to consider. If given the choice between owning with a friend and not owning and sitting at home with my thumb in my ... I'd take the co-ownership option. My $0.02
Old    Big Stick Rick (rickykamberra)      Join Date: Dec 2006       06-14-2007, 5:06 PM Reply   
yes, good experience after one and a hlaf years.
Old    Darrel F (95sn)      Join Date: Sep 2005       06-14-2007, 6:36 PM Reply   
or until your partner gets a new girlfriend and then all the sudden she has an opinion/vote on when, where, or who with "your" boat. ouch.
Old    wake_addict (radikal)      Join Date: Feb 2004       06-14-2007, 8:01 PM Reply   
i co-owned a boat with my dad and i pay nothing !! oupss this is not co-owned
Old     (attila916)      Join Date: Oct 2005       06-14-2007, 10:34 PM Reply   
J-Rod... don't you co-own a boat?
Old    PJ (peeejay)      Join Date: Mar 2002       06-14-2007, 11:26 PM Reply   
i just looking to not sell it all together.my family is involved with so much. i was going to sell half of its equity to someone local. but it sounds like a bad idea so i might just sell it all together. so be on the look out for a vlx 03 140hrs loaded.
Old    Aaron Nielsen (lzyboy)      Join Date: Jun 2001       06-15-2007, 8:26 AM Reply   
I co owned & would do it again.

For us the key was setting up a JOINT bank account & having 100.00 per person pulled from each check every 2 weeks deposited directly into the account totalling $400.00 a month. Our monthly payment was roughly $300.00 & we used the extra money for insurance, repairs, etc.

Reply
Share 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



All times are GMT -7. The time now is 1:11 PM.

Home   Articles   Pics/Video   Gear   Wake 101   Events   Community   Forums   Classifieds   Contests   Shop   Search
Wake World Home

 

© 2012 eWake, Inc.    
Advertise    |    Contact    |    Terms of Use    |    Privacy Policy    |    Report Abuse    |    Conduct    |    About Us