If catamaran financing is required we suggest pre-approval for the specific model/s you may be interested in, very similar to a home purchase. Finance companies will use one or more of the following guides to determine the value of the vessel for finance terms.
The Nada Guide
The Buc Valu System
Your broker will be able to provide your finance company with a list of comparables for the model/s you are interested in. As licensed and bonded brokers, we not only have access to those boats that are currently on the market, but also those that have sold over the years, offering a wide spectrum for comparables.
Although the survey report may shed some extra light on a vessel’s value, underwriters are more likely to use one of the above three value systems to determine value.
In today’s market, finance companies will offer a maximum of 80% financing depending on credit ratings, sailing experience, the age and model of vessel etc. and they will only finance vessels up to 20 years old.
Speak to one of our brokers if you need any finance company recommendations.