Owning a boat is a dream for many Americans, but one that can turn into a nightmare of unforeseen costs. Many novice boaters don't realize all the costs associated with purchasing a boat and wind up with an expensive driveway ornament aside their car instead because they can't afford gas, insurance or the other myriad things boat owners must pay for.

Buying a boat is a serious financial commitment. For many people, it makes sense to rent one from time to time unless they are going to be on the water frequently.