Boat loans for ‘long delivery’ vessels
While there is a great selection of new boats readily available in the dealer ‘showroom’ and on the water, many models are custom-built or fitted to suit specific customer specifications. Most high-end, luxury models have to be ordered in advance with varying delivery waiting times.
Even in the lower and mid-range categories, you may be offered a custom fit-out for the interior or for selected engine and electronic component. Processes which may take weeks, months or for the ultimate luxury or commercial vessels, years
So how do you arrange finance for a boat that you won’t be taking delivery of for some time?
You will no doubt want the assurance that the finance or boat loan is secure before you place the order. The boat builder will also want to know your finance is secure before they commit their resources to building your vessel.
This is a specialty area of marine finance, where a broker can be of great value to you.
Pre-Approved Boat Loans
Depending on the delivery timing, a pre-approved boat loan may suit your purpose. Your Jade broker can secure you the appropriate finance package to suit that particular boat and have it all approved and waiting when you are ready to proceed.
Usually pre-approved boat loans are valid for a set time, eg 30-60 days. We can liaise with the boat builder to provide the necessary assurances that the finance has been approved so they can commence work and then finalise the new boat finance deal with you when the boat is complete and ready for delivery.
If the timeframe is greater than the standard pre-approved timeframe, your Jade Boat Loans broker will work hard to arrange a suitable loan structure to suit the timeframe.
Specialty Custom Loans
As a specialist marine finance broker, Jade Boat Loans has the expertise to structure finance packages to suit specific customer requirements. A custom boat deserves custom finance.
With access to a wide range of specialist marine lenders, we have open channels with contacts across a vast finance network so we can negotiate a finance package to suit your custom requirements.
Discuss with your Jade consultant your preferred repayment structure, when you would like repayments to commence in relation to the delivery of the boat, include additional costs possibly associated with the transportation and delivery of your boat to your port of choice and what residual or balloon you would like included.
Our services include private and commercial marine finance and we have the expertise to structure packages including chattel mortgage, leasing and hire purchase for both commercial and recreational boats. These services are available for boat purchases for boat loans Australia and from overseas sellers.
Jade Boat Loans is a specialist marine finance broker, with extensive resources to draw on to structure specialty marine loans.
Call Jade Boat Loans for an initial discussion on your custom boat finance
CONTACT US NOW ON 1300 000 003
Disclaimer: The information contained in this article is sourced from government and reputable sources, however, it is intended as a guide for general information.