Financing a Boat

A boat can of course be purchased outright or on credit and in particluar the boat can be leased with the option of purchase. It is the latter form of financing which is the most frequently chosen today for the purchase of a new boat, but also for that of a second hand boat which can be invoiced with VAT.

In fact, this is a tax concession ( Clause 3 A-1-05 N° 15 from the 24th January 2005 ) which allows charter companies, and by extension the credit companies, to reclaim 50% of the 19,6 % VAT liable on the sale of new boats. Thus the financing of a new boat on credit is much cheaper since the monthly payments are invoiced at 9,8%.

1. How do I choose a leasing financier ?

Firstly, choose a professional ! Don't entrust this operation to your usual banker just to please him ; he does not know how to proceed and will often regret having accepted the commission, generally just to please you. Financing a boat is a complex matter like everything in the maritime legal sphere. QUO VADIS is so convinced of this that if you opt for a financial organisation which it does not recognise as a professional in this field, we will charge you 150 euros in additional fees because we know from experience the difficulties we will encounter when we will have to untangle the financing and register the boat. We will also give no guarantee regarding the delivery date of the boat, in case of delays on the part of the finance company in the payment process. The sales team of QUO VADIS can provide you with a list of financial organisations of which we know the experience in this field. QUO VADIS has developed a particular relationship with SGB Finance, a subsidiary of Bénéteau and of the Société Générale (via CGI / CGMer).

 2. How do I choose a lease ?

Choosing a lease

-long-term : if you intend to resell your boat in the future you will manage this more easily if it still benefits from a significant lease, since you will transfer to your purchaser the VAT saving at the same time as you enable him to benefit from a loan. At present the LOA often lasts for 8 to sometimes 12 years, even up to 15. This is therefore only of value if the interest rates are low.

-adjustable : it is possible, one year after the commencement of the lease, to introduce into the initial conditions the purchase of a new option.

-modifiable : it is possible to modify, during the lease, its length, the amount of the monthly repayments, etc.

-curtailable : it is possible to transfer the lease, on the same conditions, to a future purchaser of your boat. Find out about any transfer fees. Take care - if your purchaser cannot take over the lease you will have to pay off your lease at 19,6 % on the remainder.

You can complete a " test run " on the website of SGB Finance.

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QUOVADIS La Seyne sur mer

Zone Marépolis Est
83500 La Seyne / Mer

47 Quai de Rive Neuve - Vieux Port
13007 Marseille

10 Bd Victor Hugo
83150 Bandol

14 Avenue Robin
83400 Hyères

Tél : 04 94 94 43 32

Tél : 04 91 54 23 99

Tél : 04 94 29 48 94

Tél : 04 94 57 05 73