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Boat Financing

Financing your boat

You’ve met the Mersenne yachts sales consultants, you’ve decided on the style of the boat you want and you’ve even selected some of your absolute favourites. You’re already dreaming of your first afternoon at sea. It’s time to see how financing the boat will fit your lifestyle. The good news is, it’s a buyers’ market and there are many advantages to getting a boat loan over other types of financing. Like car loans you can get approved relatively quickly if you qualify as a potential client you’ll also be able to spread your boat loan payments over several years and benefit from low interest rates making your investment more affordable than you think.

Mersenne Yachts has close ties with a number of banks and will give prospective buyers a complete overview of financing opportunities such as long term loans, fixed rate mortgages available for new and used boats, which will ensure that you
comfortably manage your boat loan payments and enjoy your boat.

Your appointed Mersenne Yachts sales consultant will guide you through the whole process and will give you advice regarding:

• Setting aside a realistic down-payment
• Finalizing paperwork and getting all financial documents ready prior to your first meeting with the bank. Most financial entities will require the same financial documents including tax returns, bank statements and other income verification forms. Some banks may also look favourably at previous boating history as this shows the buyer has an idea of the operational and maintenance costs of a boat.
• Attaining a professional marine survey
• Terms offered by several loan sources to determine the financing best suited for your intended purchase.

Your Mersenne Yachts Sales Consultant will organize your first meeting with a number of loan sources for you to consider including local, regional and national banks, financial service companies as well as credit unions who offer:

• Pre-delivery finances during the construction phase for ship-owners and shipyards (including funds to cover machinery, hull construction, equipment purchases, labour costs and other goods and services)
• Post-delivery and second hand financing
• Short term financing (Working capital loans)

Here are some renowned financing partners for prospective boat owners to consider.

BOV Boat and Yacht Finance
If you are either considering your first purchase or upgrading your boat or yacht, BOV Boat and Yacht Finance may lend up to 80% of the valuation or cost of the boat or yacht, starting from a minimum of €60,000. The loan will be repaid by monthly instalments which will be inclusive of interest.

BANIF Bank
Through the Bank Boat Loan clients can finance up to 75% of the boat’s value and spread the repayments over a maximum period of 10 years making my repayments more affordable.

CGI Finance
In Europe, CGI Group is a finance partner to many leading boat manufacturers in the world and is uniquely positioned to offer boat financing to a diverse national and international customer base that no other lender currently offers in boat refinancing, international Super Yacht financing or European Yacht Financing as well as securing a boat loan for new or used boats.

Credit Europe Bank – SOCIÉTÉ  GÉNÉRALE GROUP
For prospective boat owners in Europe, Credit Europe considers a wide range of shipping projects and investments ranging from custom designed boats to the investment in classic boats as well as brand new and second hand motor boats and super yachts.

Get in contact with us

Financing a boat is as simple as getting a loan for a car and the Mersenne Yachts Sales consultants will help you obtain affordable financing and guide you through the process smoothly and professionally making your dream of owning a boat a reality.

Call the Mersenne Sales Team on 00356 21230 980, 00356 99302095 or email info@mersenne.com.mt for more details.