How does it work?
The management and rental with The Moorings (and its sister company Sunsail) is simple: you buy a new boat, and receive a fixed and guaranteed monthly income for the duration of the contract (between 5 and 6 years). This annual profitability of between 8% and 9% allows you to cover all or part of your leasing or credit repayment. In addition, throughout the program, you will be able to sail for up to 12 weeks a year on your boat or an equivalent model in one of the rental company's bases around the world.
The advantages of this program are:
- Guaranteed monthly income
- Up to 12 weeks of use per year
- No maintenance, berth and insurance costs during the 5 to 6 years of rental
- Possibility to sail on your own boat or equivalent
- A dedicated "owner relationship" team
Rental management in figures
Let's imagine André who would like to benefit from a catamaran when he retires in 6 years. For this, he chose a Moorings 4000 with 3 cabins (a Leopard 40 from Roberston & Caine). Thus he will have a sailboat with a hull dedicated for the owner with a huge bathroom at the front. In the other hull, two cabins and a bathroom for passing friends.
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The average price of a week's rental is 6,000 euros for this type of boat.
Geographical location
Why not start with Polynesia when his boat is available? He therefore chose to base his catamaran on the Raiatea base (Tahiti)
Period of time
He buys a boat that will enter service in 2019 and will be recovered at the end of the contract in 2025. During the 6 years of operation, André will enjoy all the benefits of management.
- Contract start date: 19/09/2019
- End date of contract: 30/09/2025
- Program duration in months: 72
Selling price
By buying his boat at the Paris Boat Show, André benefited from special conditions. The price of the boat is 449,000 euros including VAT.
- Price including VAT: 502,950 euros
- Special discount: -53,950 euros
- Price after discount including VAT (5.0%): 449,000 euros
Guaranteed income
During the entire rental management period, The Moorings commits to a monthly income. No surprises from unleased boats or other inconveniences.
Guaranteed monthly income: 2,851 euros
Total income for the period (72 months): 205,257 euros
Credit financing
To buy his boat, André had his bank run two simulations. The contribution and the duration of the financing will influence the monthly payments he will have to make to the bank.
Simulation 1
- Personal contribution (35%): 157 150 euros
- Monthly credit terms including VAT: 4,343 euros
André will therefore bear a monthly cost of 1,493 euros, corresponding to the amount of the monthly payments, less the guaranteed income (2,851 euros per month).
His boat will therefore have cost him 264,623 euros over the 6-year contract.
Simulation 2
- Personal contribution (50%): ?224,500
- Monthly credit terms including VAT: 3,341 euros
If André opts for this second simulation, he will have a monthly cost of 490 euros per month. At the end of the contract, the boat will have cost him ?259,804.
Download André's simulation here
Resale
If André changes his mind at the end of the management contract, he can ask The Moorings to resell his catamaran via its second-hand boat sales network. The estimated resale value is announced at the beginning of the contract. This is an estimate that can change depending on the market. For example, at the moment, the catamaran is a product that has a lower discount than the monohull. In this way, André will be able to recover a large part of the money he has spent on his catamaran.
- Estimated resale value at the end of the program including all taxes: 270,000 euros
Additional benefits
André chose this solution which allowed him to buy a fully equipped boat at the price of the opportunity. For 6 years, he will have been able to take control of his boat and all the other equivalent models in the Moorings and Sunsail fleet. He will have sailed for up to 12 weeks a year on the world's most beautiful seas.
- Annual proprietary use: Up to 12 weeks
- Operating costs (postage, insurance, maintenance): included
Conclusion
In general, management programs are not designed to make money. They allow owners to sail several weeks a year from the most beautiful destinations, without constraints and at a lower cost. It is therefore an excellent alternative to traditional rental.
