yachtworld financing

• Boat Loan Calculator

Ready to buy a boat? Use our easy boat loan calculator to check your monthly payments or calculate your total loan amount.

Adjust the loan term, down payment amount and interest rate to see results based on the numbers you provide - and how any changes to those numbers may affect your payment.

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How Trident Funding Boat Loans Work

It’s as easy as 1-2-3, 1. calculate your payment.

Whether you’re an avid boater or new to the boating world, this loved pastime is available to everyone. If you’re buying a new or used boat, you can use Trident’s boat loan calculator to understand your financing options. Simply enter your desired monthly payment to get the loan amount you can afford or provide your total boat loan amount and loan terms to return your estimated monthly payments. 

2. Apply for a Loan

Now that you have an idea of your estimated boat loan monthly payment or total loan amount, you can submit your loan application. It only takes a few minutes! We’ll ask you to tell us about the type of boat you’re looking for and a few details about your financial situation so we can match you to the marine lender that’s right for you.

3. Get on the Water!

Once you submit your boat loan application, our dedicated team of loan officers gets to work! We usually have a response from a marine lender in 24-48 hours. If we need additional documentation, we’ll reach out. All you have to do is dream about getting on the water. We’ll help you find the  interest rate  and boat loan lender that fit your budget and lifestyle.

Already started a loan application with us?  Log in  to continue.

What are people saying about Trident Funding?

What is a boat loan calculator.

A boat loan calculator is an online tool that helps potential boat buyers estimate the cost of financing a boat purchase. This tool takes into account several factors such as the boat’s price, down payment, interest rate, and loan term, which are used to calculate monthly payments and the total cost of the loan. You can adjust the loan term, down payment amount, sales tax, and  interest rate to see boat loan payments based on the numbers you provide – and how any changes to those numbers may affect your payment.

Using a boat loan calculator helps potential borrowers determine how much they can afford to borrow, how much their monthly payments will be, and how much interest they will pay over the life of the loan. This information can help borrowers make an informed decision about their boat purchase and ensure they stay within their budget.

How To Calculate A Boat Loan Payment

• Determine your loan amount: This is the total amount of money you will be borrowing for the boat purchase. It is typically the price of the boat minus any down payment or trade-in value.
• Determine your loan term: This is the length of time over which the loan will be repaid, usually in months. For example, a 20-year loan would be shown as 240 months. 
• Check your interest rate: This is the annual percentage rate (APR) you will be charged on the loan. Rates are impacted by your credit score, the size of the loan, and the length of the loan term. 
• Use a boat loan calculator: There are many boat payment calculators available online that can help you estimate your monthly loan payments. Simply enter your loan amount, loan term, and interest rate, and the calculator will provide an estimate of your monthly payments. Alternatively, you can enter your desired monthly payment, loan term, and interest rate and see a total loan amount so you can start boat shopping.

It’s important to note that the monthly payment estimate provided by the calculator is based on a fixed interest rate and assumes that you will make all payments on time. Actual monthly payments may vary depending on your credit score, the lender you choose, and other factors.

Also, keep in mind that the boat loan payment may not be the only expense associated with boat ownership . You’ll need to consider additional costs such as insurance, maintenance, docking fees, and fuel.

Frequently Asked Questions

How long is a typical boat loan for.

Typically, the maximum term for a  boat loan  is 20 years, however the maximum or standard term for a boat loan can be affected by the age of the boat and the size of the loan request. The next most common terms are 15 and 10 years.

How much yacht can I afford?

Check out a  yacht loan calculator , to see how much yacht you can afford. Affordability will be based on things like your income, credit score, debt-to-income ratio, purchase price of the boat, loan term, and interest rate. When you see the estimated yacht loan monthly payment, remember that it doesn’t include insurance, marina fees, docking or storage fees, maintenance, repairs, fuel, license, or crew costs. So, make sure there is room in your budget to allow for these extra expenses.

Is it smart to finance a boat for 15 years?

Financing a boat over a 15 or 20 year term is very common. Banks tend to offer longer terms on boat loans because the depreciation schedule of a boat is typically longer than other assets like automobiles.

Can I get a 20-year loan on a used boat?

Yes, you can get a 20-year term on a used boat. However, the boat usually needs to be less than 15 years old, and most lenders will also have a minimum loan requirement in order to qualify for a 20-year boat loan term.

Can I get a boat loan with a 600 credit score?

You can get a boat loan with a 600 credit score, but most lenders prefer credit scores of 700 or higher. With a lower credit score, you should expect a larger down payment or a higher boat loan interest rate. Use our boat loan calculator to estimate your monthly interest rate and then  apply for your boat loan  today.

Can I purchase a boat with bad credit?

You can purchase a boat with bad credit, but you probably won’t qualify for boat loans if you have bad credit. If your credit score is below 600, you may need to pay cash for the boat, work out an owner financing arrangement with the seller, or put down a large down payment. Other options may include taking out a personal loan, getting a loan from your credit union, or using boat dealer financing. Some boat loans may allow a qualified cosigner but the cosigner would have to meet the lender’s criteria and agree to be responsible for the loan.

Keep in mind that some lenders won’t work with you at all if your credit score is below 600, so it may be advantageous to raise your credit score first and then apply for a boat loan. The best interest rates and terms are reserved for the most credit-worthy borrowers. So, having a higher credit score will save you money over the term of the loan.

Can a high credit score save me money when financing a boat?

Having a high credit score to finance a boat will save you money in a few different ways. Firstly, you will get access to the best rates, terms, discounts, and the lowest-fee boat loans. You may also be able to choose your loan term, and your down payment requirements may be lower. 

For example, if you can afford the higher monthly payment of a 10-year loan term, instead of a 20-year loan term, you can potentially save thousands of dollars in interest because you will be paying off the loan over a shorter period of time. 

However, the main way that you save money on a boat loan is with a lower interest rate. Assuming that you have a high credit score, and get a 6.25% rate on a $200,000 boat loan, with a term of 20 years, you will have paid a total of $350,845.54 for the boat over the 20-year term. This only includes principal and interest and is only applicable if you have a fixed rate loan. 

Now, let’s assume your credit score isn’t great, and you get a 9.0% interest rate on the same $200,000 loan. You will have paid a total of $431,868.46. That means that a borrower with a higher credit score will have spent $81,022.92 less than the borrower with the lower credit score. That’s a huge amount of money that could be invested or even used to buy another boat!  

What are the best boat loan terms?

Boat loan terms vary in length, anywhere from seven to 20 years, and occasionally 25 years. There isn’t really a ‘best’ when it comes to boat loan terms. It’s all relative to your financial situation, the year of the boat, and the loan amount. If you have the extra money budgeted for larger monthly payments, and don’t want to pay additional interest, then a shorter-term boat loan may be better for you. 

Conversely, if you’re buying an expensive boat, and want the cheapest monthly payments available, then a 20-year boat loan term may be more suitable for you. When you  apply with Trident Funding , they will go over different boat loan terms,  interest rates , and monthly payment options with you.

What is the minimum credit score for a boat loan?

There is no definitive minimum credit score required, but there are some banks that will consider applicants with scores in the 600 or 640 range. You will typically need a credit score of at least 600 to get approved for a  boat loan . The higher your credit score, the lower your interest rate will be, which will save you money over the term of the loan. Additional credit limitations and requirements will typically be required for scores under 700. Use our boat loan calculator above to determine your estimated monthly payment based on your FICO credit score.

Some tips to raise your credit score include

• Make on-time payments to your creditors
• Ask for credit limit increases on your credit cards but don’t use the additional credit
• Pay down your credit card balances so they’re 25% or lower
• Regularly check your credit report and dispute any errors

How much boat can I afford?

The amount of boat that you can afford depends on a number of factors. It will depend on your income, your credit score, and your liabilities. You may qualify for a million dollar boat solely based on your income, but when you factor in your monthly expenses, that number may change drastically.

The lender will take a look at your overall financial profile including your debt-to-income ratio to ensure that you can afford to purchase the boat and keep up with the monthly payments. You can check out a  boat loan calculator  to get an idea of how much boat you can afford. The calculator is a great place to start when you’re boat shopping, but don’t forget about additional expenses such as boat insurance, marina fees, and ongoing maintenance costs.

Can you get a 30 year mortgage on a yacht?

Yacht loan terms typically go up to 20 years, but you may find one for 25 years if you and the boat meet certain qualifications. A  yacht loan  is different from a mortgage, it’s more comparable to an auto loan, just with a longer loan term.

The yacht serves as the collateral and you typically use your own funds for a downpayment and finance the remainder of the purchase price. You will pay monthly payments throughout the life of the loan. Like auto loans, yacht loans require insurance and each lender will have their own qualifications that need to be met in order to be approved for the loan.

What credit score do I need to qualify for a boat loan?

A good  credit score  to finance a boat is typically 700 or higher. Most marine lenders only work with creditworthy borrowers who have what is considered great or excellent credit. Sure, you may qualify for a loan with a lower credit score, but the maximum loan amount may be lower, the monthly payment may be higher, your loan application may take longer for credit approval, and you may be required to put down a larger down payment than a borrower who has a higher credit score. 

If you’re not sure what your credit score is, or you want to know if you will get approved for a boat loan or not,  apply with Trident Funding  online in just a few minutes. The initial application only requires a soft-pull on your credit score, and you will quickly find out if a boat loan is in your near future, or if you need to raise your credit score first.

What are typical terms for boat financing?

The length of the loan is referred to as a  loan term . Loan terms vary depending on the loan product, the type of boat, the age of the boat, the loan amount, and your financial standing. However, most boat loans range from 10- to 20-year terms. A 20-year term is usually the maximum term for a boat loan, however, sometimes a lender will consider a 25-year loan term. The next most common boat loan terms are 15 and 10 years. Typically loan amounts over $50,000 can go to 15 to 20 years and loan amounts under $50,000 can go to 12 to 15 years.

What is the typical down payment on a boat loan?

The amount of the down payment on a boat loan varies. It’s usually anywhere from 10% to more than 30%. It depends on the borrower’s credit score, income, and overall financial profile. It also depends on the loan amount and the loan term. Generally, borrowers with lower credit scores will be required to put down a larger down payment. This is to mitigate some of the lender’s risk and it shows ‘more skin in the game’ because the borrower has more to lose if they default on the loan. 

If you like to know the numbers and want specifics, here goes. The average cost of a new boat is around $70,000. If you have excellent credit, expect to put down at least $7,000. If your credit is less than excellent, you may need to put down anywhere from $14,000 to more than $21,000. This is just the amount needed for the downpayment and doesn’t include closing costs or insurance etc.

What is the average boat payment?

Every borrower is different and their credit score and income will affect the boat payment. The  interest rate , the boat term, and the purchase price of the boat will also affect the amount of the monthly payment. If you want to roughly estimate what your boat payment will be, calculate 1 to 1.5% of the value of the boat. For example, if you  buy a boat  worth $100,000, expect to pay between $1,000 and $1,500 per month. Keep in mind, this is just a rough estimate, and you can get a better idea of your monthly payment, by using a  boat loan calculator .

3 Actual rate, loan amount and term can vary depending on the lender, FICO score, credit history, lender assets/liquidity requirements, down payment, debit and payment to income ratios, collateral type, age of collateral, loan to value, vehicle registration (LLC), loan type (Purchase versus Refinance), state of residency and other criteria. Loan is for recreational pleasure use only. Rates and terms are subject to change without notice based on market conditions and borrower eligibility. Other rates and loan terms are available. † Max loan term may vary. Rates may not apply to customers residing in states or Puerto Rico.

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YACHT FINANCING

FINANCING FOR YACHTS AND BOATS

Frank Ramos is your Trusted Advisor and Yacht Finance Specialist with over 30 years of yacht financing experience and over $1 billion in yacht financing transactions.

Whether it involves a simple personal ownership or a more complex corporate or foreign flag structure, I can guide you through the process to facilitate a smooth transaction with terms designed to meet your needs, competitive pricing and unparalleled service.

Since 1984, I have been involved in banking and have concentrated working with all the major lenders in the marine industry. This experience has resulted in a strong lending background and industry knowledge to assist you in navigating the waters of yacht financing.

I can assist you with all aspects of financing your yacht, whether purchasing a new or used vessel or refinancing an existing loan. Our company offers simple, convenient application procedures, a fast response, and a willingness to work with you to help make your dreams come true. I am 100% committed to helping make your purchase or refinance a pleasant experience.  

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LET’S TALK TODAY!

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LET'S TALK! PHONE : (954) 614-3888 EMAIL : CLICK HERE

PERSONALIZED BOAT & YACHT FINANCING

YACHT LOANS & FINANCING

NEW AND PRE-OWNED BOATS

When financing a yacht or boat, experience is essential. As an independent recreational lender and bank service company, EFI has been a leader in the marine lending industry since 1989. Through a growing network of well over a dozen of the leading national and international banks, we are able to deliver the best terms possible for our clients. EFI understands that the best loan terms are often not limited to the lowest rate.

EXPERIENCE MATTERS

Our numerous loan programs enable us to service both U.S. and non-U.S. citizens in all fifty states, as well as internationally. A variety of loan programs allow EFI to acquire approvals for power, sail, and electric vessels, new and used with no age restrictions, re-financings, new constructions, re-powers and re-fits, LLC’s, part- and full-time charters, live-aboards, high performance, and many more.

Get Out on the Water Faster with Yacht Loans and Financing

Finding the right financing for the vessel of your dreams can be challenging. Elite Financial International specializes in offering personalized concierge yacht financing services to help clients realize their dreams of boat ownership. We are committed to delivering honesty and integrity throughout the entire lending process, after which, you'll become part of the Elite Financial International family. If you have been dreaming of the high seas, but are not sure how to start, contact our yacht financing specialists today at (954) 537-7775.

Yacht Financing for New and Pre-Owned Boats

When deciding on the best yacht financing company to fund your new and pre-owned boat, you'll want the benefits of simple interest, no-prepayment penalties, pledge asset loans, cash alternative programs, cross collateral loan programs and asset-based loan programs. At Elite Financial International, we can assist both US-based and international customers, and we work with a variety of lenders to help you secure financing for your new or used boat. Elite Financial International has three decades of experience in boat and yacht financing, becoming one of the highest-rated marine lenders located in the heart of boating paradise, sunny South Florida.

REPUTATION & TRUST

Apply today for yacht loans.

Is the water calling you? You could be at the helm sooner than you think with yacht financing with Elite Financial International. To find out more about applying, call our team at (954) 537-7775.

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• Yacht Financing

Assets America ® offers luxury yacht financing for yachts, super yachts and mega yachts starting at $10 million and beyond! Yachts are watercraft used for sports, commercial use (chartering) or pleasure (including fishing) with a minimum length of 50 feet.  Super-yachts are large, expensive, professionally-crewed yachts, informally sized at 79 feet or greater, although the dividing line is somewhat subjective. Finally, mega-yachts are the biggest and most expensive yachts, starting from 164 feet and beyond.

Video: Benetti Super Yacht Tour

Yacht Valuation

Yachts are configured as sailing or power vessels, although many sailing yachts have motors as a backup. While yachts can be quite large, however, they are dwarfed by commercial maritime vessels like oil tankers, ocean cruise liners, and cargo ships. Yachts can yield income through chartering, which can figure into the process of obtaining yacht loans. Super-yacht and mega-yacht designs also reflect the personal tastes of their owners. These specializations affect the yacht’s value for financing purposes.

Many factors figure into the evaluation of a luxury yacht, for example:

• Purpose of the vessel
• Number of engines
• Sleeping accommodations
• Crew size (if any)
• Chartering income (if applicable)
• Suitability for different sea conditions
• Fuel consumption
• New versus used
• Legal jurisdiction of the lender, the borrower, and the yacht itself

Take note that international considerations can complicate the process. In other words, financing must account for different laws and cross-border tax implications.

Yacht Financing from Assets America ®

If you want to purchase a yacht, or build your own newbuild, or lease a yacht, check out our yacht finance packages. We can arrange yacht loans that will meet your requirements, even if you are somewhat credit challenged. Our yacht loans start at $10 million. Don’t postpone purchasing the yacht you deserve. Rather, call our offices today at (206) 622-3000 , or simply fill out the below form for a prompt response!

Apply For Yacht Financing

Yacht Survey

For yacht financing and insurance purposes, a yacht, superyacht or megayacht must undergo a survey, a procedure similar to a home inspection. The three types of yacht surveys are:

• Insurance survey: This type of survey is for renewal of insurance policies, not for acquisition. It is a light inspection that tries to identify outstanding issues.
• In-shore and coastal survey: This is the most common survey and is a good choice for many yacht purchases. It includes a full equipment listing, a confirmation of the hull number (much like a car’s VIN), complete system testing, and an out-of-water check of running gear, hull, and bottom paint.
• Offshore survey: This is the most time-consuming and comprehensive survey, appropriate for ocean-going yachts. It includes the in-shore and coastal survey, but also ultrasonic tests, hull moisture tests, heat-sensing scans, engine manifold tests, and more.

Yacht-Building Contracts

The individual nature of luxury yachts means that yacht-building contracts are not standardized the way that oil tanker contracts are standardized. The yacht building yard will enumerate all the luxury yacht buyer’s individual requirements in the contract, which will probably go through several drafts before finalization.

The contract structure reflects the obligations of the builder and the buyer. It will also include warranties, tax provisions, and often, confidentiality clauses, as the owner of a mega yacht often wants to keep a low profile. Ideally, the shipyard delivers to the buyer the yacht exactly as specified, and the buyer receives a clean title upon payment of the purchase price.

Yacht Registration

Yachts must be registered in a country, but not necessarily in the country of the seller or the buyer. Registration is fairly easy as long as the yacht meets certain criteria, such as technical standards and age. This holds especially true in “open registry” countries like Liberia, Panama, Cyprus, and the Bahamas. “Offshore registry” countries are usually colonies or dependencies. For example, there are the Netherland Antilles, Cayman Islands and the Isle of Mann. If the owner is a U.S. citizen, yachts weighing 5 tons or more can be registered at the National Vessel Documentation Center of the U.S. Coast Guard. Coast Guard documentation also offers access to a preferred mortgage that gives the lender certain benefits. However, most U.S. yacht lenders require that financed yachts are documented.

Financing a Yacht

When purchasing an existing yacht, borrowers usually take out yacht mortgages on vessels. However, arrangements differ between yacht building contracts and chartered yachts. Other influencing factors include the current and proposed registration jurisdictions, the tax treatment of the yacht, and the owner’s tax status. In conclusion, yacht financing protects the lender from the borrower’s other creditor claims.

Yacht Loans

Private commercial lenders like Assets America ® can arrange yacht financing, as well as banks, credit unions, boat brokers and yacht manufacturers. Typically, the loan agreement takes on a basic asset-financing structure, collateralized by the fully amortizing yacht mortgage and a lien on the yacht, as well as insurances signed over to the lender. In addition, the loan agreement may give the lender a lien on any revenues generated by chartering the yacht. Finally, the lender will most probably require a personal guarantee and/or debenture from the borrower. This gives the lender a lien on the borrower’s other assets as well.

Yacht-Building Loans

For yacht-building contracts, the loan agreement will provide for cash advances to pay for pre-delivery construction milestones. Payments start with a pre-build deposit by the buyer. Installment payments follow as construction progresses through succeeding stages, evidenced by Stage Certificates. Pre-delivery requirements also include assignment of the yacht-building contract. In the case of default, the contract gives the lender the right to have the builder finish construction. Then the lender takes possession of the vessel and sells it. Accordingly, the yacht financing lender releases funds to the yacht builder upon receipt of each Stage Certificate. These must include the counter-signature of an independent surveyor. The yacht-building contract usually contains clauses that specify what happens if default occurs either by the builder or the buyer.

All loan agreements contain language relevant to warranties, insurances, and registration. The lender might also require covenants that preclude certain uses of the yacht, such as chartering. Finally, the borrower’s surveyor will have inspection rights to protect the borrower’s interests.

Yacht Leases

Some people choose to lease their yachts rather than purchase them. In this case, the lessor gains title to the yacht and leases the yacht back to the lessee for an agreed term. These leases are usually “demise charters” that provide the lessee exclusive use of the yacht. In other words, the lessee is the operational “owner,” while the lessor maintains the title.

Glossary of Marine Lending Terms

Yacht financing – faqs, how is the current market for yachts and superyachts.

Across the world, the boating market—whether monohull sailboats, catamarans, yachts, or superyachts—is a buyer’s market and should remain that way for the foreseeable future. Because fiberglass and other light, super-durable hybrid materials last so long, the market has become increasingly flooded. Often multimillion-dollar yachts are selling for a fraction of what they were just 7-10 years ago.

Is there a best time to purchase a yacht?

The simple answer is yes, at the beginning of the off-season, although that varies around the world and especially between the northern and southern hemispheres. In Florida for instance, the best time to buy a yacht is mid to late August.

What are the costs involved with maintaining a yacht?

In addition to purchasing the yacht, owners typically pay for mooring and storage, insurance, operational costs, crew, maintenance, and winterization. These costs can be rather substantial. Before purchasing a yacht, one needs to make sure they are financially secure.

Can my yacht qualify for tax advantages?

Yes, for example, if a yacht has a berth, head, and galley, then it can qualify as a second home.

What is the least and most amount of financing I can receive?

While our loans start at a bare minimum of $10 million, there is no upper limit to the amount of financing available to you via Assets America®.

What kind of down payment should I expect to make?

While the standard down payment is 20% to 30%, really strong borrowers may be able to make a smaller down payment depending on the quality of their credit, their financial statement, and their cash position.

Online Resources for Yacht Financing and More :

• First, for tips on buying and financing your first luxury yacht , check out these articles from Boat International , Cruising World , and Marina Reservation .
• Second, Boat International also provides Yacht Market Reports and Superyacht Market Reports .
• Moreover, if you’re interested in environmentally friendly yachting, consider checking out Blue Flag International .
• In addition, you may also enjoy this Guide To Yacht Financing from the law firm Field Fisher Waterhouse, although if you’re serious about financing a yacht or superyacht, the best way forward is to speak with a seasoned professional.
• Finally, The New York Times has an excellent article The Beginner’s Guide to Chartering a Yacht with Crew .

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Ronny was a pleasure to work with and is extremely knowledgeable. His hard work was never ending until the job was done. They handled a complex lease and guided us through entire process, including the paperwork. Not to mention a below market lease rate and more than all the features we needed in a site. We later used Assets America for a unique equipment financing deal where once again Ronny and team exceeded our expectations and our timeline. Thank you to Assets America for your highly professional service!

Great experience with Assets America. Fast turn around. Had a lender in place in 30 minutes looking to do the deal. Totally amazing. Highly recommend them to anyone looking for financing. Ronny is fantastic. Give them a call if the deal makes sense they can get it funded. Referring all our clients.

Assets America guided us every step of the way in finding and leasing our large industrial building with attached offices. They handled all of the complex lease negotiations and contractual paperwork. Ultimately, we received exactly the space we needed along with a lower than market per square foot pricing, lease length and end of term options we requested. In addition to the real estate lease, Assets America utilized their decades-long financial expertise to negotiate fantastic rates and terms on our large and very unique multimillion dollar equipment purchase/lease. We were thankful for how promptly and consistently they kept us informed and up to date on each step of our journey. They were always available to answer each and every one of our questions. Overall, they provided my team with a fantastic and highly professional service!

Assets America was responsible for arranging financing for two of my multi million dollar commercial projects. At the time of financing, it was extremely difficult to obtain bank financing for commercial real estate. Not only was Assets America successful, they were able to obtain an interest rate lower than going rates. The company is very capable, I would recommend Assets America to any company requiring commercial financing.

Assets America was incredibly helpful and professional in assisting us in purchasing our property. It was great to have such knowledgeable and super-experienced, licensed pros in our corner, pros upon which we could fully rely. They helped and successfully guided us to beat out 9 other competing offers! They were excellent at communicating with us at all times and they were extremely responsive. Having them on our team meant that we could always receive truthful, timely and accurate answers to our questions. We would most definitely utilize their services again and again for all of our real estate needs.

Assets America is a great company to work with. No hassles. Recommend them to everyone. Professional, fast response time and definitely gets the job done.

Ronny at Assets America has been invaluable to us and definitely is tops in his field. Great experience. Would refer them to all our business associates.

We were very pleased with Assets America’s expertise and prompt response to our inquiry. They were very straight forward with us and helped a great deal. We referred them to all our business associates.

I’ve worked with this company for decades. They are reputable, knowledgeable, and ethical with proven results. I highly recommend them to anyone needing commercial financing.

Ronny was incredibly adept and responsive – top-notch professional who arranged impressive term sheets.

Assets America helped us survive a very difficult time and we most definitely give them 5 stars!

Ronny was very friendly and though we were unable to make something happen at the moment he gave me some direction to go.

My business partner and I were looking to purchase a retail shopping center in southern California.  We sought out the services of Ronny, CFO of Assets America.  Ronny found us several commercial properties which met our desired needs.  We chose the property we liked best, and Ronny went to work. He negotiated very aggressively on our behalf. We came to terms with the Seller, entered into a purchase agreement and opened escrow.  Additionally, we needed 80 percent financing on our multimillion-dollar purchase.  Assets America also handled the commercial loan for us.  They were our One-Stop-Shop. They obtained fantastic, low, fixed rate insurance money for us.  So, Assets America handled both the sale and the loan for us and successfully closed our escrow within the time frame stated in the purchase agreement.  Ronny did and performed exactly as he said he would. Ronny and his company are true professionals.  In this day and age, it’s especially rare and wonderful to work with a person who actually does what he says he will do.  We recommend them to anyone needing any type of commercial real estate transaction and we further highly recommend them for any type of commercial financing.  They were diligent and forthright on both accounts and brought our deal to a successful closing.

Call Our Commercial Financing Specialist

(206) 622-3000

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Yachtworld ?? Good or Bad?

• Thread starter Prairie Virgin Sailor
• Start date Mar 22, 2021
• Forums for All Owners
• Ask All Sailors

Prairie Virgin Sailor

Do serious boat buyers actually use Yachtworld.com for anything more than a "Sailor's Porn Magazine"? Is there some "boat searchers etiquette" traditionally followed for people wanting to buy a sailboat that I am not aware of? I bought my current boat off Kijiji and am now browsing about for a more serious boat. I am constantly looking at boats for sale on Yachtworld.com. I have made 4 general enquiries re boats I have found on their website. Three of the enquiries I heard nothing back on, and the forth, I received an acknowledgment from the broker telling me he would be happy to help me out. I asked for clarity on a Pacific Seacraft Dana 24 which is listed as a 27 foot vessel. I asked for clarity on this ... he never responded. Finally, I sent a statement/complaint to Yachtworld.com in general explaining the lack of response regarding boat enquiries I have made. Surprise ... I heard nothing back. What's up??  

JohnShannon

I bought half my boats through Yachtworld. I did not share your experience, maybe it is the Covid  

Really ?? Well now I feel it's personal (smile). Interesting???  

SBO Weather and Forecasting Forum Jim & John

Most Brokers are part of a Multiple Listing Service. Pick one to find who has a Boat's Listing as a Broker. I bought mine through this Broker by shear accident. Here is his Hunter Sailboat listing today. https://masseyyacht.com/search-resu...=0+9999&_sfm_Price=0+9999999&_sfm_is_massey=1 I called his number on a weekend. He is in Florida. He then called the Listing Broker in Biloxi MS. Here is our testimonial for the Head Broker, Ed Massey. https://masseyyacht.com/1997-hunter-430/ Jim and Sue...  

@Prairie Virgin Sailor I had the same experience as you from Yachtworld. In fact, I had extremely poor response from all the brokers I contacted. My guess is my budget was below their level of interest although I'm not sure why they bother listing boats if they don't plan on selling them. I ended up buying my boat privately off kijiji. I was concerned about buying without the oversight of a broker and used a purchase agreement I found online, modified a bit to better suit the sale. Everything went very smooth but the seller was a really great guy and was open to negotiation from the deficiencies found in the survey. I'm not sure it is always that easy.  

i bet you would get a snappier response on a 50 ft Benehuntalina than you do on small cheap boats.  

DArcy said: @Prairie Virgin Sailor I had the same experience as you from Yachtworld. In fact, I had extremely poor response from all the brokers I contacted. My guess is my budget was below their level of interest although I'm not sure why they bother listing boats if they don't plan on selling them. I ended up buying my boat privately off kijiji. I was concerned about buying without the oversight of a broker and used a purchase agreement I found online, modified a bit to better suit the sale. Everything went very smooth but the seller was a really great guy and was open to negotiation from the deficiencies found in the survey. I'm not sure it is always that easy. Click to expand

Some of those online listing services never take a listing down. It's really irritating to get interested in a boat only to find out it sold three years ago. You have to pay attention to the listing date. If it's more than a year ago it may be stale. That may be a reason you're not getting responses. Or maybe it's just that brokers don't perceive it's worth the effort on a cheap boat. But 10% of $7,000 is $700. Yeah, sure - I'd rather earn $7,000 but I've done plenty of work for $700 or less.  

william24424

I believe it's a seller's market out there., if I may use the Real Estate analogy, Zillow for browsing and a reputable Realtor/attorney to represent your interests. Find a trusted Yacht broker, stay until he/she finds your boat & let them negotiate, might be the way to go. You might Use Yachtworld to browse and if you find something you like have your broker contact owner. IMHO.  

sailboatlistings.com is another place to look for lower end sailboats. But as @shemandr said, some of the listings are never taken down. I've used sailboatlisting.com with good results. Just look at the very bottom of each listing to see when it was posted. If it is more than 6 mo old, it is probably a dead listing. Then proceed with a buyer-beware attitude.  

Yachtworld is a listing service for boat brokers much like the multiple listing services for real estate. The Brokers side of Yachtworld has important information about boat sales, like asking price and actual selling price and how long the boat sat on the market. The standard commission for a broker is 10%. In terms of paper work and closing the sale there is just about as much work to do on a $20,000 boat as there is on a $200,000 boat. As a result, brokers are much more inclined to work on selling $200K boats. The broker typically works on commission and he does not get the full commission, the owner of the brokerage takes some to cover overhead. Thus on a $20,000 sale the selling broker may put much less than $1000 in his pocket. For low value boats, and in the brokerage world anything less than about $50K is a low value boat, brokers have little incentive to spend a lot of time educating a potential buyer about a particular boat. You may ask, if they are so uninterested in selling a boat, why do they take the listing? A good question. Mostly it is a courtesy and a sales lead. If you buy a more expensive boat and you have to sell yours, they will list it. If buy a boat a low value boat now, you may come back in a few years a buy a higher value boat. But they are not going to spend a lot of time and effort trying to sell a low value boat to someone far away. And they won't spend much time with tire kickers (keel kickers?). For boats in your price range, identify a few boat you are interested in that are in the geographic area. Call the brokers, not email, and tell them you will be in their area on XXXX and want to look at a particular boat. Schedule a meeting time and then go there. You should get a better response from a broker who knows you are interested enough to invest the time and money to travel. In the end, brokers are just trying to earn a living. Given a choice to spend roughly the same amount of time on a sale the will earn $1000 or one that will earn $10000, which one is going to get the attention.  

dlochner said: Yachtworld is a listing service for boat brokers much like the multiple listing services for real estate. The Brokers side of Yachtworld has important information about boat sales, like asking price and actual selling price and how long the boat sat on the market. The standard commission for a broker is 10%. In terms of paper work and closing the sale there is just about as much work to do on a $20,000 boat as there is on a $200,000 boat. As a result, brokers are much more inclined to work on selling $200K boats. The broker typically works on commission and he does not get the full commission, the owner of the brokerage takes some to cover overhead. Thus on a $20,000 sale the selling broker may put much less than $1000 in his pocket. For low value boats, and in the brokerage world anything less than about $50K is a low value boat, brokers have little incentive to spend a lot of time educating a potential buyer about a particular boat. You may ask, if they are so uninterested in selling a boat, why do they take the listing? A good question. Mostly it is a courtesy and a sales lead. If you buy a more expensive boat and you have to sell yours, they will list it. If buy a boat a low value boat now, you may come back in a few years a buy a higher value boat. But they are not going to spend a lot of time and effort trying to sell a low value boat to someone far away. And they won't spend much time with tire kickers (keel kickers?). For boats in your price range, identify a few boat you are interested in that are in the geographic area. Call the brokers, not email, and tell them you will be in their area on XXXX and want to look at a particular boat. Schedule a meeting time and then go there. You should get a better response from a broker who knows you are interested enough to invest the time and money to travel. In the end, brokers are just trying to earn a living. Given a choice to spend roughly the same amount of time on a sale the will earn $1000 or one that will earn $10000, which one is going to get the attention. Click to expand

I have bought boats I found on both sailboatowners.com and yachtworld and was very happy in both cases. I have also had success selling on sailboatowners.com. Tim  

Tim22 said: I have bought boats I found on both sailboatowners.com and yachtworld and was very happy in both cases. I have also had success selling on sailboatowners.com. Tim Click to expand

The problem is not with Yachtworld. However, I do not like Yachtworld's new format which makes it more difficult to use. Like so many others, I have had issues with non responsive brokers. Many brokers are doing it part time (retirement hobby) or just not trained in the profession. If a boat is sold, they neglect to remove the listing. Makes no sense. Then you look at some of the pictures of boats that look like trash bins. Wonder why they don't sell ??. Why would a broker take on such a listing? I know of brokers that take listings on boats that are 2 hours away and expect the owner to show their own boat. ??? Sailboat Listings and Texas Sailing seem to work well.  

@dlochner hit all the big points. Like anything in life, there are great brokers, and crappy ones. No way of knowing what you'll get. Wanna get a brokers attention? Call them. A Dana 24 with the very common bow sprit is 27 feet long  

Jackdaw said: @dlochner hit all the big points. Like anything in life, there are great brokers, and crappy ones. No way of knowing what you'll get. Wanna get a brokers attention? Call them. A Dana 24 with the very common bow sprit is 27 feet long Click to expand

Scott T-Bird

I contacted at least 8 to 10 seller's brokers via Yachtworld last spring when I was searching for our boat. I called at the same time as sending an e-mail. Every time I left a voice mail, I got a return call within the hour, and I'm talking about evening calls. Every single one responded. I was very specific about my inquiries and I got honest replies, as far as I could tell. So, I had a very good experience with Yachtworld. I'd say they all had bigger fish to fry, but I had a good impression that they were going to provide approximately same level of service as they would dedicate to purchasers of more expensive boats.  

Scott T-Bird said: I contacted at least 8 to 10 seller's brokers via Yachtworld last spring when I was searching for our boat. I called at the same time as sending an e-mail. Every time I left a voice mail, I got a return call within the hour, and I'm talking about evening calls. Every single one responded. I was very specific about my inquiries and I got honest replies, as far as I could tell. So, I had a very good experience with Yachtworld. I'd say they all had bigger fish to fry, but I had a good impression that they were going to provide approximately same level of service as they would dedicate to purchasers of more expensive boats. Click to expand

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