Tuesday, February 14, 2017

Renting Skis Makes Economic Sense for Us

My daughter and I have a season pass at the local ski resort.   We also rent ski equipment instead of purchasing our own.  I didn't do the economic calculation when we first decided, because I didn't know if we would ski more than a couple years.  But now that we've been skiing 3 years, it may be worth considering purchasing skis.

On the internet, current late season sale price for  a ski package (skis, bindings and boots) is about $800 for adults,  and $350 for kids.   Assuming my daughter will need 5 sets of skis before she is an adult, that would be $1750.  

Renting for the past three years has been $100/year for the entire season.    An additional benefit is that we don't need to store or maintain the skis.   Also, our rental package allows us to use skis or snowboards, and we can change our ski length at any time.

As I see it, it's probably a better financial decision to rent, instead of purchase.  First, I don't know how long I or my daughter will be skiing.   Second, we don't need more stuff to store at our house.  Third, I like the flexibility of being able to ski or snowboard.  Finally, $100 seems awfully cheap for a season of use since a day rental is $25.   In past seasons, we would ski about 12 times, which works out to a cost of $8.50 per rental.

This year, we've already skied 15 times and expect to get out 20 time, for an average of $5.00 per rental, which seems like a great deal.  The downside is if we ever try skiing at a resort out west.  Since ski rental could run up to $100/day, owning skis may make sense for multiple vacations to distant ski resorts

For more on Ideas You Can Use, check back every for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2017 Achievement Catalyst, LLC

No comments: