For all enthusiasts of the open sea, we set out in this article the conditions to obtain the cheapest boat loan possible. Because getting a sailboat loan at the best rate is a significant issue when you know that more than one in two boats is bought with a boat loan. There are sailboats for all tastes and at all prices.
From the little optimist who costs around 1,000 USD to the sailboat which exceeds several million USD. These boats, formerly reserved for an affluent class, are now accessible to all. New or used, we will review the means of obtaining a cheap sailboat loan.
Sailboat loan: get the best rate
To hope to obtain a sailboat loan at the best rate, it is like buying the sailboat itself. We don’t choose the first comer. You have to compare the different rates offered by credit agencies. The project is a boat loan, and the boat is considered a vehicle under the law .
It is towards a car loan that you must turn to get the best rates for sailboat credit . It is a credit allocated to a sale and therefore justified. It differs from a conventional credit without supporting documents such as personal loans.
If you are going to buy a new sailboat or one under 2 years old, you must choose the category “new auto loan or less than 2 years old”. If it is a credit for sailboat of more than 2 years, in this case, it is necessary to opt for a used car credit of more than 2 years. The rate for a new or recent used sailboat loan will be a little lower than that of a used sailboat loan. But to obtain it, you will have to justify the purchase with an order form or an invoice to attach to the new sailboat credit application file. It is the same principle as for a work loan such as a swimming pool loan. The lender is able to offer a good rate but wants the money to be used only to finance a specific project, and he logically wants to make sure.
To get the best sailboat loan rate, simply complete our questionnaire which will not only obtain the ranking of the best rates but also obtain an evaluation of the cheapest organization. This to know if it is better to fall back on the 2nd and 3rd best offer. It is done in 1 click and it is without obligation:
Compare the sailboat credit
To understand the interest of comparing sailboat credit, we have chosen to take a representative example of the market. Take the example of a loan of 30,000 USD over 60 months. This budget allows, for example, to afford two sailboats from the manufacturers Beneteau with its First 20 and Jeanneau with its Sun Odyssey 28.1, both between 25,000 and 30,000 USD in new condition on the market.
Sailboat loan in the amount of 30,000 USD to be reimbursed over 60 months:
Lowest rate: 3.50% / Monthly payment: $ 545.01 / Cost of the sailboat loan: $ 2,700.60
Highest rate: 7.58% / Monthly payment: $ 598.70 / Cost of the sailboat loan: $ 5,922.00
More than 3,000 USD difference, for exactly the same sailboat credit. This is an observation which encourages comparison.
Sailboat loan accessible to small budgets
A large part of the boat sales market is the second-hand market. There is a varied range of used sailboats available between 1,000 and 10,000 USD. You just have to visit specialized sites to find your happiness. We have selected three:
Obviously, it will also go to generalist sites like leboncoin.fr to get a precise idea of the price of the occasion of the boat sought. Once the necessary budget has been precisely identified, all that remains is to orient one’s request to a used sailboat loan.
Please note that for an occasion of more than 2 years, proof of purchase will generally not be requested. Without being a loan without proof, used sailboat credit is limited to conventional proof of credit.
A sailboat loan thanks to a personal loan or a bank loan
It is obviously possible to contract a sailboat loan by going directly through your bank. However, this option is a little more delicate since banks generally ask for a very solid file for obtaining credit.
On the other hand, in case the bank accepts, It is not at all sure to get the best sailboat credit rate, the banks are not market specialists. But if you want to try to make your banker fold, we have detailed a technique for negotiating his credit.