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Yacht Financing

Explore how financing can get you out on the open water
Jeanneau Dealer of the Year 2017

It is possible to finance the purchase of a yacht for use either the Smart Yacht Business or the Guaranteed Income Programs. The yacht serves as collateral for the loan. (For the other programs, please refer to the notes at the end of this page and contact FYG.)

One key requirement is that the financing must be appropriate to a yacht in charter service. Typical bank loans for boats do not normally permit business use of the yacht.

Another typical requirement, for most financing by U.S. based financing companies, is that the boat must be a documented vessel with the US Coast Guard. In order obtain this USCG registration, the owner of the vessel must be a U.S. citizen or a company (such as an LLC) that is controlled by U.S. citizens. For non -U.S. citizen prospective owners, the best alternative for financing will depend on the details of your personal situation and if you are interested in a charter base outside of the U.S. (such as Bahamas, BVI, etc). FYG will assist you with information about your specific options.

Typically, loans are at a fixed rate from 10 to 15 years and a 20% down payment is required. Of course, as with all loans, various alternatives are available and variations may be requested.

Here are some example rates and terms from SGB for June 2015.

Florida Yacht Group works closely with the following financing companies that can provide financing appropriate for yachts in charter service:

NOTES FOR THE OTHER YACHT FOR LESS PROGRAMS:

For our Fractional Partner Program, the Lease-Purchase Partner, and the Flextime Member Programs, it is not possible to obtain conventional financing using the yacht as collateral.

For any of the programs, however, FYG can suggest alternative financing approaches that are tax-friendly and may be possible depending on the specifics of your personal situation. Please contact FYG to discuss details.

LET'S WORK TOGETHER
Palm Beach
561-844-1100
Miami
800-537-0050
St. Petersburg
727-553-9551
Key West
800-537-0050
Bahamas
800-537-0050