Have you missed our live webinar on yacht purchase FAQs? Don’t worry. Here you have the essence of it and the chance to watch the recording in full length and download the webinar brochure.
What were our topics?
We spoke about:
Your yacht purchase journey and how to recognise which stage you are at right now
Here are the helpful questions you have to ask yourself to understand your goals and where you stand:
- Which steps should you take while searching for a matching yacht?
- Where do you get your information from?
- What are your preferences?
- Where are you going to sail?
- With how many people?
- What does your family say about your decision?
- Who else is influencing you?
OUR MOST IMPORTANT ADVICE: STICK TO YOUR PREFERENCES!
Challenge your thoughts – look at all the opportunities from a different side. Look further than you would think about it first.
Know what different sources are telling tell you: what do you want to hear from a dealer? From a broker? From a shipyard?
Get help from a consultant who should be unbiased and can help you to really compare the boats and yacht purchase offers and shorten the time of your journey.
Owner groups online – but mind that the owners are usually biased, because either they are proud and happy or they could be complaining about an issue on their boat.
The yacht purchase procedure
What to expect and what to remember when you have taken the decision to buy your matching boat.
We explained step-by-step what you would be doing when placing the order, when the payments are due, what to do in the time while you wait for your boat to be delivered, how to communicate with the shipyard, how and when to decide about the options and when to start planning your charter ownership.
You should ask yourself questions like:
- Where you buy the yacht from?
- What do you expect from the supplier?
- What kind of yacht purchase agreement?
- Are there any differences?
YACHT-MATCH PIECE OF ADVICE – REMEMBER THAT THE SHIPYARD IS NOT YOUR CONTRACT PARTNER!
Do I have to choose the equipment immediately? – NO
YACHT-MATCH PIECE OF ADVICE – THE MOST IMPORTANT THING IS TO SECURE THE BOAT WITH THE SHIPYARD SO YOU HAVE A PRODUCTION SLOT AND KNOW WHEN YOUR BOAT WILL BE DELIVERED
You will have plenty of time during your purchase and boat building procedure to decide about your equipment and the after-market options.
How to apply for financing?
A. Operational financing – “programs” – bank owns your boat and has a loan/business agreement with you
B. Financial leasing – connected to you as owner, you are the owner from the beginning
YACHT-MATCH PIECE OF ADVICE – 3.4 – 6.5% is the interest rate now. But this can change in future!
Is it possible to have a bank guarantee for the payments?
Note: a bank guarantee can only be issued if the bank can find/take collateral in something – in this case, the VESSEL. Because the vessel has not been built yet, there is no way to offer a bank guarantee until the boat is going into the mould and the hull will receive its CE and certifications.
The VAT around owning a boat in charter ownership is a complex topic with several solutions. We will gladly guide you through them personally.
Private owners pay VAT that applies in their country of residence. We recommend to work with tax advisors.
PLEASE DISCUSS YOUR CASE IN A PERSONAL MEETING WITH US – It is all individual.
Insurances, delivery, after-market
Your yacht can get very expensive, if you order all options from the shipyard. The after-market options are often a better and less expensive solution. It is important to find out what is best for the boat and make sure what adapts to your boat. We have 7 years of after-market deliveries experience delivering tailor-made solutions of any kind of equipment.
What is the insurance rate? – Depends on your experience, on where you plan to sail and what you plan to do with your boat. A usual boat insurance has regional coverage.
YACHT-MATCH PIECE OF ADVICE – COMPARE SOME INSURANCE OFFERS – Especially regarding theft.
How does my ownership start?
- Supplier hands over the yacht to the dealer and the dealer will check it and then hand it over to you.
- Before the boat leaves the shipyard towards its marina, it needs to be equipped for the seaworthiness (safety equipment on board, papers on board and in order).
- Next step is getting to know your boat and know what to do when something goes wrong. A training should be arranged for you by your partner or supplier.
YACHT-MATCH PIECE OF ADVICE – FOR THE FIRST FEW DAYS OR WEEKS, IT IS NICE TO TAKE A SKIPPER WITH YOU! IT WILL MAKE YOUR FIRST WEEKS ABOARD MUCH MORE PLEASANT!
YM can help to connect you with the right insurance. We are most of the time your supplier, we arrange the inspection when the boat is ready from the shipyard, we will equip it and hand it over to you and we will arrange for your proper training.
Ask yourself: Is my boat a business? Or do I only want to cover some costs?
Then you can choose between:
- Charter programs – pre-made solutions (designed to fit in in the fleet operator’s business)
- Flexible tailor-made charter management agreement (agreed upon with you as boat owner and a separate part managing your boat)