Pre-Qualifying for Boat or Yacht Financing

Starting the boat financing process can be a challenge. Calling brokers for rate quotes over the telephone can sometimes be confusing; so before you make that step it’s best to understand how the process works.

With any large purchase that is financed, customers want to get the best rate available to them and boat and yacht loans are no different. Understanding what you are getting into beforehand is important for ensuring you get the best deal. Calling around to different brokers to feel out the market is a smart idea. This will give you an indication of what boat loan rates the market is currently bearing. However, there are many unforeseen elements that this process does not reveal.

So why is it difficult to get a firm quote over the phone? In order to provide an accurate boat or yacht loan quote it is imperative that the broker understands the nature of the purchase including your credit history and current financial standing via an “underwriting process.” Without submitting a boat loan application though the underwriting process, the broker won’t fully know if or how you qualify for a loan. A reputable broker can only give you an indication based on a range of A+ interest rates that “may” be available to you if you qualify.

So why call different brokers if you can’t get a solid answer? Other than gaining a general idea of what A+ credit customer’s rate is – not much reason at all. So what should one do if they are trying to get a solid quote for a boat loan interest rate? Customers should “pre-qualify” for a boat loan.

Pre-Qualifying for a Boat Loan

Pre-qualifying for a boat loan is a smart choice. Why shop for a boat or yacht without having the financing in place to support your purchase? Pre-qualifying for a loan will create financial structure that will guide you through the purchasing process.

Boat loan brokers that have multiple lending sources will match you with the lender with the best interest rate. Each lender has a unique program and will lend based on a different set of criteria. Thus by employing a reputable boat loan broker, such as SeaDream Marine Financing - www.seadreaminc.com, with multiple lending sources, the broker can match the customer with the appropriate lender and obtain the best market rate.

However, by shopping with multiple brokers you risk damaging your credit score. Brokers that don’t underwrite your deal in house may initiate a process of shopping or “shotgunning” your boat loan application to numerous lending sources in “hopes” of finding a good deal. This may come at a serious cost to you. Every time a lender receives an application, they will run a check on your credit history. Every inquiry will reduce your credit score. Submitting your application haphazardly to multiple brokers that do not offer in-house underwriting may seriously damage your credit.

Therefore it is wise to ask the broker about their process, including if they underwrite their applications, how many lending sources they utilize, and if they are adept at matching your application to the “appropriate” lender in their portfolio via the underwriting process vs. randomly shopping your application to many or all of their lenders.

A quality professional boat loan broker will underwrite the loan and then submit it to the “appropriate” lender for consideration. The lender will then approve the deal and the broker will then call you back with a firm deal that includes a locked interest rate and structure of the financing available to you. You are now officially pre-qualified to shop for the best deal and will have the financing in place to make a strong offer. Once you’ve decided on a boat the broker will then work with you and the selling party to facilitate the deal within the framework of the approval. When you reach this stage it’s just a matter of signing on the bottom line and the boat is yours.

Eric Vaughan is a leading marine finance professional at SeaDream Inc. Boat Loans and Boat Insurance - SeaDream is nationally renowned for its expertise in new and used boat loans, boat refinancing, yacht financing, and boat insurance.

Have a sailing vacation with yacht charter

 

Planning to have a sailing vacation with yacht charter? Well, it is indeed a good idea. A sailing yacht charter could be most exciting, peaceful and altogether relaxing way to

have your vacation with. Sailing yacht is a perfect solution to sail without the cost of owning your own boat. Moreover, for many former yacht traders, bare boating has turned

into an alternative to owning the boat. A yacht rental is becoming more and more renowned and the market is filled with various companies that promise to offer you with the

best vacation possible.

Today there are different types of yacht charter exist on the market, such as, mega yachts, cruiser yacht, trawler yachts, crewed yacht charter, and many more. A luxury

yacht charter is the most essential of all sailing vacation. Even on a bare boat charter, you are offered with a fully equipped boat and detail information when you collect the

boat at the start of the charter. The brief detail would include safety on board, information on the various system works on the boat and some local knowledge of the

proposed cruising area.

There is no doubt that you would be able to find the correct chartering service for you in almost any waterside location around the world. Until you have skill the luxury of

yacht salvage, you are missing the holiday of a lifetime. Whether you desire to get away on your own, or with family, friends, business associates or could be with former

classmates, there is a boat out there, which is right for you, and a company that would do its best to meet your requirements on the ocean-going party.

Bareboat could be found in a wide variety of shapes and sizes in most huge cruising areas across the world. However, one thing is for certain: whatever kind of vessel you

prefer, there are many ends to select from each of them offering eye-catching landscapes and shiny waves by day and exhilarating and memorable views by night.

To conclude, if you seek a yacht charter with complete self-government and ultimate freedom, then, a bareboat is ideal for you. Giving you the freedom to sail at your own

pace, a bareboat would permit you the change to sail around the worlds’ most stunning locations, to take pleasure in eye-catching sceneries and to explore the exotic

coastlines entirely on your own.

Mr. Monish is a Copywriter of yacht charter. He written many articles in various topics. For more information visit: Florida yacht charter. contact her at yachtloop.marine@gmail.com.

Want a Dream Career? Get a Job on a Yacht!

If you’re the “outdoorsy” type, prefer to work on a team, have a positive attitude and are a confirmed “people-person,” you may fit right in as part of a yacht crew. Though jobs on most yachts are seasonal or part-time (depending on when someone rents it for a cruise), you will gain an incredible amount of experience while sailing your work days away.

A few yacht crew jobs include the following:

Chef/Cook
Diesel Mechanic
Flotilla Skipper
Host/Hostess
Sailing Instructor

You can apply for positions with private yachts; exploration ships that travel far and wide; commercial vessels; or megayachts and superyachts, liners or tankers. But, where do you find these jobs, anyway?

There are several yacht crew-finder services for vessel owners and employers around the world. Remember, this is a global industry, and though you’ll have full decision-making authority on things like what kind of vessel you’d like to sail on and when you’re available to crew, things like salaries or whether you will work a working holiday yacht cruise or as a voluntary crew member are largely non-negotiable, particularly for entry-level jobs.

You can also work on shore-based jobs related to the yachting industry, such as outfitters or suppliers for deck and overall yacht needs like linen services or glassware.

And think about this: You pretty much get to decide ahead of time whether you’d prefer to work on Carver yachts, Catalina yachts, Seaward Yachts, Pershing Yachts, or pal up with a few friends on the ship of your choice. The other good thing about yacht employment is that, because it is seasonal work, for the most part, there is a lot of turnover, so you won’t have to “paddle the waters” very long while looking for a job!

Another good tip to know is that vessel owners are usually very generous and pay their crew very good (tax-free) wages, along with job “perks” such as the obvious, like travel expenses and great accommodations, plus a free vacation!!

David Dunlap is the owner and founder of Only For Yachts, an online resource for everything related to yachts. Visit http://onlyforyachts.com to get information on yacht charters, yachts for sale and also sign up for the free yachting newsletter.

Custom Wall Mural for Your Yacht

 

Once upon a time, a 75 foot yacht cruising by would inspire awe. Today however, you might hardly give this boat a second glance. Boats are indeed becoming bigger and bigger. What to do with all this extra space? Decorate!

The boating industry seems to have an infatuation with the color white. It encompasses everything from the exterior gel coat to interior decorating. White interiors are traditionally hard to maintain, but that is a personal preference, of course. Bold and lively, or warm contemporary color schemes are definitely more desired and popular these days. Many of us spend a lot of time inside our boats. Therefore, the effort you put into decorating the interior of your yacht will be well worth it.

A custom wall mural is a fresh and fun choice for your nautical interior decorating. Your yacht's interior décor reflects your individuality. The sky is the limit when it comes to image options for a custom wall mural. Where you have your mural installed is a highly individualized issue as well. For example, you may prefer to hang your custom wall mural design within the privacy of your master quarters . Or you may want your original image displayed in the galley, bar or other entertaining space.

If you would rather leave the wall mural image to the experts, you may prefer to purchase a high quality wall mural from an online gallery. This is a perfectly acceptable choice and is a time saver too, because all the guesswork on color, composition, and subject matter is already done for you.

Just remember some friendly advice. Your money will be well spent if your wall mural purchase is indeed a high quality product, freshly printed and on durable new wallpaper material This will help ensure that your wall mural is seaworthy and can withstand peeling, fading, and mildew build up.

You can get bargain basement wall mural prices from hundreds of websites, but be wary of this. The very attractive pricing is in large part due to the fact that these “suppliers” buy in bulk from the manufacturers. The murals are then stored, often in suboptimal conditions.

When it comes to wall mural options for your yacht, would you rather make a moderate to substantial decorating investment from a purchase at a Sam’s Club or a small boutique that specializes in wall murals and custom wall murals? Think about it!

Cruise through our quality wall mural gallery at http://www.artistichomeowner.com

Yacht Charters Provide a Luxurious Escape

 

Ernest Hemingway, the Nobel laureate author of “Old Man And The Sea,” loved to go on fishing expeditions off the Cuban coast in a sailboat that was well stocked with rum.

James Bond, the legendary British spy, loved to spend intimate moments with his newfound female companion on a yacht near a remote island in the Caribbean.

Away from the maddening crowd, in complete isolation, is what the fictional celebrity, and the celebrated fiction-writer, sought after every hectic assignment – Bond chasing enemies and Hemmingway chasing real-life action.

In real life, the rich and famous all over the world often spend their dream vacations in a boat they own, in faraway seas beyond the prying eyes of the paparazzi and the scandal-mongering newshounds.

Honeymooners, famous or not, also love being alone.

And then, there are the CEOs of mega corporations that hold business-cum-fun excursions on the high seas in luxury motor yachts to strike deals and seal takeovers. Or, just to enjoy their earned holidays.

Dream holidays on a well-equipped, well-stocked yacht are not just for the rich and mighty; they are within your reach, too. Just charter a yacht and sail off to your dream destination.

You can pick your own route, set your own pace, chose your own cuisines, chalk out your own itinerary, make stopovers whenever you feel like, and be the master of the yacht until you return to the shore.

A crew yacht charter vacation is like staying in a villa where you are pampered by a staff, but is unlike a hotel where you are stuck in the same location for the entire week. Your yacht moves on to a new location at your whim and fancy.

A charter yacht comes with a captain and cook. The price, which ranges from $8,000 to $250,000 per week, is linked to the size and type of the yacht and the services they provide. The price is inclusive of the charter meals and wines.

Yacht Charters Info provides detailed information about yacht charters, including Caribbean and Mediterranean yacht charters, as well as luxury, crewed, motor, private, and corporate yacht charters. Yacht Charters Info is affiliated with Business Plans by Growthink.