Frequently Asked Questions: SailTime Power Owner
How many people own the boat?
You will be the sole owner of the boat and have all the benefits of ownership without all the costs, time commitment and worry.
How much do I get paid?
You receive a guaranteed monthly income equivalent to an annual return of 4-6% of the capital value of your boat.
How long will SailTime keep my boat?
SailTime will professionally manage your boat and take care of all costs for 3 to 5 years. The only exception is that any major renewals made in years 4 and 5, such as a new engine (thus adding future value), will be on a shared cost basis.
Can I remove my boat from the programme?
Yes, with 9 months notice you can remove your boat from the programme.
Can I put my existing boat into the programme?
We only put new boats into our programme. This gives a consistent quality experience to all our members worldwide.
Who maintains the boat, pays the marina fees, and pays the insurance?
SailTime.
Then, what are my monthly costs?
None, except a fuel charge. The fuel charge is based on your actual metered fuel usage and is designed to cover the raw cost of fuel and engine servicing.
If my local base were to go out of business where does that leave me?
You would be offered an alternative base location to continue within the SailTime programme. Furthermore, SailTime would be actively looking to reappoint a new Base Owner at your location, but in the interim might well choose to run the base itself. Obviously, as sole owner you would be entitled to remove or sell your boat.
What are the specifications of the boat?
All our powerboats are very well specified including chart plotter, autopilot, heating, electric windlass, galley items and other features that make yachting easy and enjoyable. All SailTime boats are fully certified to the Maritime and Coastguard Agency codes of practice for small commercial vessels, carry extensive safety equipment and the larger boats are also fitted with Radar and AIS.
Which manufacturers do you work with?
We only work with world-class manufacturers who are committed to providing quality yachts and powerboats. SailTime only adds manufacturers after an extensive evaluation. Visit the partner section of our website to learn which manufactures we are currently working with.
Do I get special scheduling privileges?
Similar to a member you are guaranteed a minimum of 7 ‘sail times’ per month plus unlimited ‘as available’ use. If time on the boat is more important than maximizing your monthly income from SailTime, you can purchase additional membership allocation and increase your time onboard at advantageous rates.
What is the down payment?
Typically you will put down a minimum of 20% of the purchase price. However, many owner-members opt to put down larger percentages. The substantial income we pay you remains the same.
Who arranges financing?
SailTime can provide you with a financing company who can fast track your application through. Alternatively you are free to arrange your own financing and you will receive the same significant income from us.
Can I meet the members using my boat?
Each SailTime base holds frequent social gatherings for members in order that they can meet.
How can I be sure my boat will be treated properly?
SailTime maintains an exclusive membership of a maximum of 7 others on your boat. Each member must be suitably qualified and is also assessed by SailTime in the 2 day induction that all members undertake. This ensures that each member is familiar with your boat’s operation. Additionally, each SailTime member signs a ‘Care Commitment’ document, which ensures that they treat the boat as if it were their own. Add SailTime’s proactive management and high standards and you get a boat that is exceptionally well looked after.
What is my equity position at the end of the SailTime commitment?
Residual values will always vary with the market place. SailTime only choose manufacturers that we feel will have better than average residuals. Depreciation is always greatest in years 1 and 2, declining in year 3. By year 5, depreciation has flattened with very little further depreciation for a well-maintained powerboat. SailTime pays much of your depreciation off through capital repayment of your mortgage. When all the other ownership costs like berthing, insurance and maintenance are taken into account you are streets ahead!
What are my options at the end of the SailTime commitment?
You may take back your power boat for your personal use, refinance to lower the payments, upgrade to a new boat and re-enter into the programme, or sell your boat. All these options leave you with a very inexpensive and quality SailTime sailing experience.
How do I get started?
Contact your preferred SailTime base for detailed specifications and additional options together with financing information. The boat will be specified and ordered by SailTime, who will see the process through to the commissioning and delivery. SailTime will guide you through the financing process and take care of everything on your behalf.
