Yacht financing explained

This episode of Full Displacement delves into the intricacies of yacht financing, featuring insights from experts Kim Madigan and Melanie Jolles, from Newcoast Finance. They discuss with Current Yachts' Maryline Bossar and Amanda Haley the importance of early financial planning, the differences between fixed and variable rate loans, and the role of brokers in securing the best financing options. The conversation also covers common misconceptions about yacht loans and the significance of understanding credit requirements and debt-to-income ratios. Key Takeaways: ⏰ Early financial planning is crucial for yacht buyers. 🏛️ Fixed and variable rate loans offer different benefits. 💰 Brokers can provide access to a wide range of financing options. 🧐 Understanding credit requirements is essential for loan approval. 🧮 Debt-to-income ratio plays a significant role in financing decisions. 📉 Misconceptions about yacht loans can lead to financial pitfalls. 🛥️ Yacht financing is more complex than traditional loans. 💪 A strong credit history can impact loan terms. 👩🏻‍💼 Brokers help match clients with suitable lenders. ✌🏼Strategic financial planning can enhance yacht ownership experience. Contacts: Kim Madigan and Melanie Jolles, Newcoast Finance https://www.newcoast.com/Kimberly-Mad... https://www.newcoast.com/Melanie-Jolles Own Your Dream Yacht! 🧭 Did You Know? You can finance a yacht for up to 20 years! Use the Newcoast Yacht Calculator: https://mmax-my.sharepoint.com/:x:/g/... 💭 ABOUT CURRENT YACHTS Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How? 1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money. 2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way. 3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement. Discover the Current Yachts difference: professional service without the bloated pricing. Join us at https://currentyachts.com/