Behind the Scenes: How Your Sunsail Yacht is Maintained
Everything You Want to Know About End of Programme Options
If you’re thinking about buying a Sunsail yacht through our Yacht Management Programme, you’ve almost certainly wondered what happens when your time in the programme comes to an end. In your final year, we’ll work closely with you to help you decide which option suits you best – keeping your yacht, selling it, or trading it in for a new yacht in our fleet.
What can you do with your yacht at the end of the programme?
Keep
If you decide to keep your yacht, we recommend appointing an independent surveyor to carry out a full survey once the phase‑out maintenance has been completed. This helps ensure that everything listed in the equipment schedule (Exhibit A) to your Yacht Purchase and Management Agreement is on board and in good working order.
Sell
Our brokerage office in Fort Lauderdale can list your yacht for sale during the final year of the programme and line up a buyer for completion once phase‑out is finished. When the yacht is sold, you’ll receive the sale proceeds, less a standard 10% brokerage commission.
Trade
Many owners choose to trade their yacht for a new model in the fleet. The trade value is linked to current market value and is applied as a deposit towards your new yacht. If there is an outstanding loan on your existing yacht and you are financing the new one, the new lender will pay off the old loan and apply any remaining equity towards the deposit on your replacement yacht.
How long does the programme run?
In the Caribbean, the programme typically runs for around five years, covering five high seasons. In other regions, programme length may vary.
How long will it take to sell my yacht after the programme ends?
On average, yachts coming out of the programme sell within about three to six months. Our Moorings Brokerage office in Fort Lauderdale can begin promoting your yacht for resale during your final year in the fleet.
What if you can’t sell my yacht at the end of the programme?
If your asking price reflects market conditions, resale at the end of the programme is rarely a problem. If you’re not quite ready to sell, you can request an extension in our main fleet or in our Footloose fleet in Tortola. The Footloose fleet consists of yachts that have completed the primary programme but continue to charter, for up to three additional years, depending on demand. We select yachts for Footloose on an as‑needed basis. Your yacht can remain listed for sale while in Footloose, or you can trade it in from Footloose into a new yacht in the primary fleet, or keep it once the Footloose period ends.
Could my yacht sell for less than the outstanding loan?
We can’t promise specific market conditions at the end of the programme, but provided you’ve used the monthly positive cash flow to reduce your loan throughout, the likelihood of a shortfall is low.
Will you buy my yacht back at the end of the programme?
We do not offer a buy‑back on yachts in the Guaranteed Income Programme. For buy‑back options, please refer to our Option to Purchase Programme.
What gets replaced on my yacht at the end?
We don’t wait until the very end to replace equipment. Throughout the programme, it’s our responsibility to repair or replace items as needed – including sails – to keep your yacht in top‑grade charter condition.
Can I leave the programme early?
If you’ve been with us for a few years and decide you’d like to exit early, we’ll do our best to accommodate this, provided you give us at least six months’ notice.
Do I have to decide now whether to keep my yacht?
No – you don’t need to make a final decision until around year four. At that point, we’ll work together with you to decide which option will best suit your needs when the programme finishes.
How often do yachts sell at the estimated resale value?
Each year, the majority of yachts leaving the Ownership Programme and listed with our brokerage office sell at or very close to the original estimated resale value.
Whatever you choose to do at the end of the programme, we aim to make the process as straightforward as possible. Our Owner Care Team will support you throughout your time as an owner and will work particularly closely with you during your final year in the fleet to ensure a smooth handover. If you’re interested in owning a yacht with Sunsail or The Moorings, please get in touch with any questions.
