How to finance your boat

This is your first, second, third … boat purchase and you would like to finance it safely. There is no typical example, every financial project is unique. We give a brief description of the situation and the different types of financing.
At Privilege Yacht we advise and support you with your financial project. Thanks to our years of experience we have trusted prescribers.

Mortgage or personal credit

Depending on the price of the boat you want to buy and in harmony with your income, the mortgage or personal credit may be one of the solutions. As with the real estate sector, the big difference between the two types of financing is that, with the mortgage, the ship serves as collateral to the bank. As well as the rates of personal credit will be higher since the financing is 100%, and not 75%, as may be the case with the mortgage. On the other hand, in the case of a marine mortgage, it’s different than with a real estate asset. The boats depreciate much more, so the rates applied are generally higher.
In general, if the price of the boat does not exceed € 35,000.00 it will be interesting to ask for a personal loan. Otherwise, it will be a mortgage.


Timeshare should be taken with gloves. And that is why we hear very little about it. As the name implies, some people agree to buy a boat by being owners together. Thus, as they divide the expenses, they also have to share the use of the ship. It’s often at this point that history becomes difficult: depending on where you are, the summer sailing season can be short to share; or you just want to feel at home …

Leasing, LOA, renting…

Well known now, leasing is the most successful financial solution. It’s most often practiced in the form of LOA, that is, a lease with purchase option. This solution is proposed by specialized financial entities such as April Marine, Viaxel … nautical subsidiaries belonging to banking groups. Basically, these entities buy the boat and then rent it to the lessee. The latter can buy the boat at the end of the contract or transmit it, under the same conditions, to a third person at any time. In addition to paying the monthly payments, the tenant also pays all additional costs: maintenance, port, insurance. This is the big difference with renting. With this one, the monthly payments include all these expenses except the extra expenses such as fuel. Leasing is available from € 50,000.00 for new boats. For a used boat, the conditions are more complicated.
There are many nuances: the reduction of VAT, the fractionation of your payment, the terms of the contracts, etc. In addition, as we mentioned, each financing project is different. And it depends not only on your financial capacity, but also on the boat you want to buy, the port of origin … Plus, this paper is about Spain’s financial horizon. Contact us for any question, without obligation! –> / +34 972 453 622; +34 616 803 971

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