What is the purpose of the calculator?

Boat ownership has many significant costs and it can be confusing, especially for a first time buyer to estimate the cost of boat ownership in the long run. We also wanted to show boat owners and potential boat owners the impact that chartering can have on their purchase, especially on a platform like Sailo where you could have your boat listed in about 15 minutes and get instant access to thousands of qualified renters. Finally, for those who don't intend to use their boats that often, we wanted to show how ownership compares to renting and when it makes more financial sense to do one vs the other.

This is a way for us to give back to the community that supports us and help you better plan your future boating costs.

Will the calculator live only on Sailo.com or is it an embeddable product that could be licensed?

At this time it is available only on Sailo.

Are there any other marine-based rent vs buy calculators or tools out there like this one?

No, there are no other tools as comprehensive as this one. There are some very basic boat ownership and boat financing calculators, but none that compares rent vs buy costs.

Will this be offered free or for a fee on Sailo.com?

Free. The calculator will be free for all visitors to Sailo.com.

Who can use the calculator?

All boat lovers! The calculator is a very practical and helpful tool for those who are looking to buy a boat, or boat owners that are looking to charter their boat.  

Can I print out the results or receive them through email?

Yes, press “Create Report” at the bottom right of the screen to view the report. If you would like to have it emailed, enter your email address and press “Send Report”.

What is the difference between the Charter and Rental sections?

The Charter Profit section is for current and future boat owners to see how much they could earn by chartering out their boat.

The Rent vs Buy section is for non-owners to calculate the total costs of renting a similar boat.

Is it usually better to rent or to buy?

It depends on a wide variety of factors, but the main differentiator is the number of days of use per year. Generally, the more days the boat is in use, the more likely it is that buying will make more financial sense. If you also intend to charter the boat when you don’t use it, it will make even more sense to buy.

How accurate is the estimate for chartering revenues?

Chartering revenues are based on internal Sailo metrics from our database. We have used charter data from almost 5,000 boats. The calculations may vary depending on your location, taxes, and the charter price you will set.  

If you are interested in chartering your boat with us, go to Add Boat. For details on how to add a boat visit Step by Step Instructions to Add Your Boat. If you would like to see the boats currently available in your region, you can browse Explore Boats.  

How do I use the Boat Financing section?

The “Financing” tab functions as a boat loan calculator. The loan interest rate, years financed, and down payment can be easily modified to your needs. The boat calculator will display the total cash outflow: principal and interest paid over the term of the loan, as well as the monthly payment. The full report can be emailed and serve as a helpful budget planner, just click on “Create Report” on the bottom of the screen.

How do you calculate Boat Insurance?

The “Insurance” tab provides the yearly costs of insurance and registration, as well as the cumulative totals. The insurance average costs are based on information provided, including percentage premium and yearly registration. These can left at the default rates if you do not have exact information.  

How do you calculate Boat Maintenance costs?

Boat Maintenance costs are based on winterization and spring prep costs. These are based on the zip code of where your boat is located. Other Maintenance costs are based on a percentage of the boat’s market value, age, type and average usage. Total boat maintenance costs are best estimates, but can vary widely.

How do you calculate Boat Taxes?

Boat taxes are wholly dependent on the zip code of where the boat is located. This includes sales tax and property tax.  If the boat is stored in Delaware, Oregon, Puerto Rico or the US Virgin Islands, you will have zero tax liability, whereas it is the most expensive to be a boat owner in Rhode Island and Virginia.

Chartering your boat will significantly decrease your tax liability through depreciation.  

How do you calculate Boat Docking?

There are four main ways to store your boat: mooring, dry docking, marina and trailer. Costs vary depending on the location and size of boat.

What are the Boat Addons?

This refers to dinghy or trailer costs, electronics, and safety equipment. In general, the equipment is replaced every 10-15 years.  

How do you calculate Boat Fuel and fuel price?

Boat Fuel costs are a function of type of fuel (gas or diesel), fuel consumption per hour, hours spent at cruising speed per day, and the price per gallon. The price per gallon is the average US price updated regularly and we advice you adjust it accordingly to your area as it can vary widely

What if I have questions about how to use the calculator?

We would be happy to assist you. Please contact us at calculator@sailo.com.

What can I use the calculator for?

The calculator estimates three distinct total costs:

- ownership without chartering

- ownership with chartering

- renting.

What factors are taken into consideration when calculating rent vs buy?

Costs under ownership are complex - considerations such as financing, insurance, property tax by location, tax deductions, docking, maintenance, fuel, add-ons (dinghy, electronics), and other items (survey, courses) are all  taken into account.