Is a RIB a MONEY PIT ?

[Flanker]

Please can you let me know what the average monthly / annual cost of running a RIB is. I have made calculations but my wife assures me it is a MONEY PIT. If she is right I must be in a millionaires forum!

I am working on the 90hp DLTI on a 6.6mtr

Average use (whatever that is)

Oh and where is a good place for RIB insurance?

Pete

[Richard B]

You've gotta be a bit cunning here. It sounds like your wife might be about to suggest something like a caravan ! Now those who justify the cost of caravans do all sorts of maths to prove that they save money over 5 years, whereas it's obvious that you don't have to give £10k+ up front to even the best of hotels!

It's not about the money - it's about what you want to do. You've chosen a sensible package that will be economical to run, but of course there will be costs. Some of the guys on this forum will have a bad weekend sometimes when they come home with a broken Bravo3 leg costing £5k a shot, but that's the sort of disaster that your rig should avoid.

If you enjoy the thrills if RIBing, you're in the right place. If you want economy and guaranteed reliability, only a VW Golf TDI can provide that!

The killer argument for your wife is that boats don't depreciate as fast as cars (or caravans). But you certainly get a lot more fun out of them.

[Flanker]

I have got a bit more info from her,

1. Why buy one and not just rent one when you feel like it?

2. Why buy one when you don't know if you will like it. (I have only ever been on one for 20mins after my son Will complete his advanced RYA course in Scotland) I am really buying the boat for my son to use, but she has said he must concentrate on his GCSE's this year, hence me saying I will be using using it also.

3. You only last 15mins on a jetski before you get bored (I don't think you can compare the two)

4. You will be away every weekend leaving me with the baby 9mths old (but a minute ago she said I would not use it)

5. You can't tow it behind an 8 yr old vauxhall Corsa (only joking to see if anyone is still reading this)

I think you can see what I am up against, some of it makes sense. I am trying to work out the worst scenario of a total loss if I sell it in a year without having used it (unlikely though). A bit of a loss is OK but say £5 - 10k not very funny, and just can't afford that.

Pete

[Alan]

Number one rule of boating, any kind of boating (even SIBing Keith) is that ALL BOATS ARE MONEY PITS!!

Some are worse than others - more expensive to run, maintain etc but all require expenditure if for nothing else than the "ohh I really need a fishfinder/gps/radar/drysuit etc etc" factor!

You are never going to win a logical argument with your wife or anyone else justifying your expenditure on anything else than grounds of fun!

If you really wonder whether you are going to enjoy Ribbing then hiring one for a day or blagging your way into a day out with someone who already has a RIB is a good idea. To hire you probably will need someone with a RYA Powerboat level #2 qual to come with you - sounds like your son will fit the bill.

To blag your way onto someone's RIB you need to be cheerful, friendly and willing to stand your end of the petrol! (plus beers etc etc.) I'd offer to take you out myself but a slipped disc has done me in for Ribbing for the rest of this year at least.

Depreciation on boats generally is not massive like cars but they do lose value, particularly if not well looked after. A large part of the value of a second hand RIB is dictated by the engine - hence my recommendations to go for the best (highest tech/most economical) engine you can. You seem to be OK in this respect. What will your RIB be worth in a years time? Who knows but 70-80% of the purchase price wouldn't be unreasonable IMHO.

Running costs depend on how much you use it but figure on £250 or so for insurance, £250 for servicing, £24 p.a. for VHF licence, whatever for storage plus fuel consumption at 1 litre per mile say.

Dunno what car you have but you can readily tow and launch a 6.5m RIB behind a Mondeo sized car. (I did for years!). A Corsa might be a step too far.......................

Cheers,
Alan

[Keith Hart]

"ohh I really need a fishfinder/gps/radar/drysuit etc etc" factor!

Yup, see my previous threads!

Keith (at the mercy of 'er indoors ) Hart

[Flanker]

Thanks for the info, I have an S reg Frontera LWB 4x4, 2.2 16v, I have had it from new, it has low mileage a tow bar but never towed anything, I guess this would do the job if a Mondeo does. Re the wet gear and gadgets, we have a lot of those from diving, so a bit of putting up with handheld stuff until the lottery comes up would do me.

My main concern is the fact that someone has told me that Tohatsu's are not sought after. My research into the 90 TLDI has satisfied me, but when I come to sell, that doesn't matter, it is the buyer that has the choice. The RIB looks fine at 6.6 mtrs, but again am I better with a more well known make for the same reason as the engine, and even spending a bit more on an engine that would sell better.

I am more than willing to discuss off the forum what I am paying for the boat, if anyone has the time to discuss it. I have now decided that the boat will be stored away from home for obvious reasons, part of the agreement with the other half. However I have a budget or should I say an amount that I would be willing to pay per year for FUN, Do I have to spend more initial cash to reduce that cost in the future years e.g. resale value. I think running costs are mostly the same so the 2nd hand value is the big thing for me. I want to minimize the depth of the PIT, or my wife will have won. I want to be able to show her my findings in a simple format e.g. FUN money per month is ..... Hopefully she will sign it off agree, and rubber stamp it, yes she is like that (and she wonders why I want to escape a bit hee.. hee...)

With a bit of kind help from you lot I should have some kind of RIB ASAP.

Pete

[Richard B]

Pete,

Get your email address button activated (in your profile/control panel)...

If you would like to send PM with boat show price for the rig I'd be very interested. The other question is - is it a deep V hull?

Rgds,
Richard.

[DM]

Greetings Flanker. I assume the boat you're looking at is the Tohatsu one design and is brand new. Nice bit of kit to start of with. However, another option would be to consider a well found second hand rig to cut your teeth with. The advantages are far less depreciation than a new boat, secondhand boats usually come with extras like gps vhf fishfinders flares etc, and in many cases have been improved by their owners over and above the factory version. It would be hard to quote a figure on running costs because of the many variables and the use to which you would put it. Anyway, whatever you buy will change your life. You will suddenly become very popular with the diving/ fishing watersports fraternity. Somewhere on the site is a good article about buying secondhand and there's enough experience on this forum to guide you through. Aah decisions, decisions!

[Flanker]

Thanks, I didn't know that my e-mail address was not activated, I found out how to do it and it is now, sorry for that, I am still trying to get the hang of some of useful shortcuts on the forum.

Pete