Live on a Yacht Tax Free

This is a new concept but one that is gaining in popularity. This is for the nautically inclined only with boating skills that are developed. Basically you live your present country and become a citizen of the world traveling perpetually on your yacht. While all this sounds great you still need to have papers and documents of registration and passports to avoid constant hassles with authorities wherever you go. So what can be done is as follows:

You form an anonymous Panama SA company (bearer shares). This company then buys a yacht for at least $150,000. Now you need to hire three Panamanians for at least $253.00 a month each. So you have deckhands, crew, cook etc. This would let you get residency in Panama quickly and after three years you could apply for citizenship and get a Panama passport. You could also do a version of this using the small investor visa to do it with a $40,000 investment and three employees on your fishing or touring boat. You can get a Panama cell phone, mail box, bank account, visa debit card, atm card and you can travel the world. For most this isn't feasible but it is fun to dream anyway.

Investor Visa (Inversionista) Designed for those who wish to establish a business in Panama (note, though, that some retail businesses and some professions are reserved to Panamanians). There must be a minimum investment of $150,000 and minimum of three, permanent Panamanian employees hired. It is granted provisionally for one year and after renewal is granted permanently with the right to be issued a cedula identity card. Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian nationality.

Small Business Investor Visa (Inversionista de Peque?a Empresa) Designed for those who wish to establish a small business in Panama (note that retail businesses and some professions are reserved to Panamanians). There must be a minimum investment of $40,000 and minimum of three permanent Panamanian employees hired. It is granted provisionally for one year, and needs to be renewed three more times before it is granted permanently with the right to a cedula. Five years after obtaining the permanent visa, holders will be eligible to obtain Panamanian nationality.

If you'd like to know more about this go to. www.panamalaw.org

British Virgin Islands Travel - Charter a Yacht For a Unique Vacation Experience

Did you know that the British Virgin Islands are home to one of the best sailing areas in the world and is the sailing capitol of the Caribbean? There are so many reasons as to why these Caribbean islands can lay claim to this and you'll soon learn why a British Virgin Islands vacation, is just what you need!

BVI weather is extremely consistent with perfect Caribbean trade winds that stay between 10-25 knots, sometimes a bit stronger during the winter months. You will find few places in the world that offer as many bays and anchorages to go exploring. You'll also find that the water temperature is just perfect for swimming with temperatures ranging from 76-85 degrees year round. The distances between the islands are quite short as well, which provides some benefits such as; the sailing areas are often protected from the open water, so you will find the seas are very calm. This is especially great if you're new to the world of sailing. Short distances also provide opportunities for many island stops and that means lots of exploring!

If you're ready for sunny days, pristine white sandy beaches, stunning coral reefs and for the water-sport enthusiast - an unlimited array of possibilities lay waiting for you to discover. One of the absolute best ways to discover the British Virgin Islands is by chartering your own private yacht! This brings us to another destination BVI famous fact. These islands are also home to the world's largest charter yacht fleet!

With more than 50 islands and cays, a BVI yacht charter may simply be one of the best ways to experience the magic that these islands have to offer you. The British Virgin Islands are also known as the Windwards and Leewards island group. They lie 1500 miles Southeast of New York and about 60 miles east from Puerto Rico. You'll find mountainous terrain, lush green valleys with rolling hills leading to spectacular beaches and serene coves.

A British Virgin Islands vacation will certainly not be like your 'typical' touristy islands, in the sense that you won't find any high-rise hotels, casinos or even traffic lights! What you'll learn on these islands is true peace and tranquility. You can discover an ancient tropical rainforest, irresistible land and beauty, even a rare inhabited coral island. These islands offer you a place in which you can truly discover yourself and this is what will make your British Virgin Islands travel really stand out.

They have worked extremely hard to achieve world-wide recognition with programs and workshops to study and protect the rapidly disappearing eco-systems of the Caribbean. With the National Parks Trust - a government department that was formed to protect the incredible beauty and infrastructure that lies under the sea, you'll find unique underwater parks that stretch all across the British Virgin Islands. Can you think of a better way to really explore this paradise than with a BVI yacht charter, one that can bring you to the heart and majesty that belongs to this incredible group of islands? After all, being in an area world-renowned for the best sailing and boasting the largest fleet of chartered yachts, why not make this vacation the most unique that you've ever experienced and charter a yacht!

If you liked what you read and would like to learn more about yachting vacations take a visit to Tropical Beach Destinations. Join your tropical adventure couple Jason and Sarah as they show you the ultimate vacation!

Yacht Charter in the Southern Cyclades

The areas prevailing wind during the summer months is the infamous Meltemi blowing from the N-NW. It is first felt in June and becomes stronger through July, August and September when it can reach force 8. It dies down in October. In the spring and autumn gales are common from the N and the SE. The summer months are hot, average temperatures are 25 deg C and temperatures often reach 35 deg C.

Milos is the southwesternmost of the Cyclades. A large bay, Ormos Milou, was scooped out when an ancient volcano erupted and hot sulphur springs still exist today. Adhamas is the island's port Go bow or stern to the E side of the ferry pier or bow to the smaller pier to the E. It is also possible to anchor off to the SE of the short pier. The bottom is mud rocks and weed and poor holding in places. There is good shelter from the Meltemi but winds from the south can produce dangerous conditions. There is water on the ferry pier and fuel can be delivered. Most provisions can be obtained in the village and there are some tavernas. Climb the hill to the Chora at Milos for breathtaking views across the bay. There are several other anchorages in the bay that are exposed to the north. There are no facilities at any of them. Apollonia is in the NE of Milos. Go bow or stern to the pier or anchor of the beach. Holding is good on a sandy bottom. There are tavernas and a mini market ashore. Ormos Voudhia lies one mile to the south of Apollonia. There is good shelter from the Meltemi but the surroundings are unattractive with open cast mines and a wharf and ore carrier all in view.

Kimilos lies to the NE of Milos. There are two anchorages in Ormos Sikia in the SW of the island. They are exposed to the N - NW and unsuitable when the Meltemi is blowing. Pirgonisi is a long sandy beach on the south coast and yachts can anchor almost anywhere along it in attractive surroundings. Good holding on sand and weed. Psathi lies further along the coast to the east. Go bows to the quay or anchor off. There is little shelter from the Meltemi and yachts are advised to use this anchorage only in calm weather. There are a couple of tavernas ashore and limited provisions can be obtained in the village. Just to the north is Semina Creek and yachts can anchor in the bay. Like Psathi, there is little shelter from the Meltemi and Psathi should be used only in calm weather.

The in the NW of island of Poliagos there is a lovely secluded anchorage just to the south of the tiny island of Moanolsi. There is shelter from the Meltemi and good holding on the sandy bottom. On the south side of the island there are several coves that yachts can anchor in when conditions are calm.

Folegandros is another barren, rocky island with exception of the small Chora in the NE that lies among green trees and shrubs. The island?s ferry port is Karavostasi. Go bow or stern to the mole on the south side of the arm extending westward. There is poor holding in places on sand and rock. There is reasonable shelter from the Meltemi. There are several tavernas but provisions can be difficult to obtain and the island is totally reliant on deliveries by ferry. On the W side of Folegandros is the large bay, Ormos Vathi. It can only be used in calm weather and there is poor holding in places on sand and weed.

Sikinos lies to the E of Folegandros. Ormos Skala is the only harbour on the island. Yachts can go alongside the quay or anchor off. There are tavernas ashore and some provisions can be obtained. The setting is attractive and popular with Greek tourists.

3.5 miles to the east of Sikinos lies Ios. It is claimed Homer is buried here. He died aboard a ship on passage from Samos to Athens and his body was thrown overboard and later washed up on Ios. Go bow or stern to in the harbour of Port Ios. There is excellent holding in mud. A mini tanker can deliver fuel and water is available from a public fountain in the square. There are tavernas all around the harbour and most provisions can be obtained. The resort is popular with the young and most of the bars play loud music in the evenings/night. Ormos Milopotamou lies to the S of Port Ios. In the north of the bay there are 4 coves where yachts can anchor, the easterly two provide the best shelter. Holding is good on sand. There are tavernas and hotels on the beach. Ormos Manganari is a large bay on the south coast of Ios, it is possible to anchor throughout the bay with good holding on sand. There are tavernas ashore.

Thira is similar to Milos in as much as it is a volcano and when it erupted in 1440 ? 1450 BC it created the bay as it is today. The close lying islands of Thirasia, Nea Kammeni and Palaia Kammeni are also part of this huge volcanic structure. Around the basin, on cliffs 300m high you will see white Cycladic houses with blue painted windows hanging from black volcanic rocks which rise sheer from the sea all group together to make Thira is one of the most popular destinations in Greece.

Finikia lies in the N of Thira. Anchor to the W of the mole in 10 ?20m with a trip line because the bottom is rocky. Limited shelter from the Meltemi and completely open to the S. Skala Thira is the harbour of the island?s capital on the steep slopes above. Go bow or stern to the quay with a line to the large mooring buoy. Departing is difficult with the confusion of the many lines attached to the buoy and it is recommended that yachts are not left unattended. There is water on the quay and several tavernas in the harbour.
On the coast south of Ak Akrotiri there are a number of anchorages that provide good shelter from the Meltemi. The bottom is good holding in sand but there is often some ground swell that causes yachts to roll badly. Monolithos is a small harbour on the E coast. Go bows to the breakwater near its extremity with a long line. There is a taverna and showers ashore.

Thirasia is the westernmost island and the only anchorage is Ayios Nikolaos. Yachts can anchor off but the small pier is reserved for local boats. There are tavernas ashore and some provisions are available in the village atop the cliffs.

Nea Kammeni has a number of small inlets where a yacht can anchor. A trip line should be used as the bottom is strewn with rocks that are likely to snag an anchor. Nea Kammeni is known for it?s problem with large rats and there are many reports of the getting aboard yachts.

Anafi is the southernmost of the Cyclades. It has one anchorage on the S coast that is exposed. The island is barren and parched and you will not miss a lot if you choose not to visit.

Choose A Caribbean Charter Yacht ? Three Varieties To Choose From

When choosing a Caribbean charter yacht, there are three categories of yachts. They are power yachts, sailing yachts and multihull sailing yachts, such as catamarans and trimarans. You can also have a special Caribbean charter to learn about the art of sailing a yacht. This will give you the knowledge and training you need to charter a yacht all on your own without the need of a captain and crew. When you book a Caribbean charter yacht, you can browse the yacht catalog to choose the yacht that best meets your needs.

You can choose a Caribbean yacht charter that specializes in bringing passengers to the best scuba diving locations. This type of yacht has all the space you need for storing your equipment as well as staterooms and a dining room. If you are new to scuba diving, you can take lessons from the skilled crew of the Carribean yacht charter and get the instruction that you need. There are times when you can just relax on the deck of the Caribbean charter yacht or enjoy trips onshore to experience the true Caribbean culture.

The company you choose to deal with for your Caribbean yacht charter will supply you with a sample itinerary for a week long vacation. However, you don?t have to stick to this schedule and you can make different decisions where you want to travel on the Caribbean charter yacht. The Carribean islands you choose do have to be navigable and have appropriate anchorages and the captain will be able to give you advice about this aspect of the charter. You do charter the yacht yourself, so you won?t have to share your Caribbean yacht charter with another group.

There are occasions when you can book a Caribbean charter yacht where you do not know the other passengers. An example of this could be a singles only charter or a ladies only charter. Of course, you will know this when you make the booking for a Carribean yacht charter, but it is helpful to know that you can enjoy a yacht charter without having a group of your own lined up. While you might think that a Caribbean yacht charter is very expensive, but when you compare it with the cost of a vacation at a tropical resort, there is very little difference between the prices.

Fly to the island of St. Thomas to meet the Caribbean charter yacht. From there you can sail to the island of St. John and have a leisurely lunch on board the yacht. Spend some time swimming, walk along the beach and drink in the Caribbean sunset. When you arrive back at the yacht, there will be a scrumptious meal waiting for you. If this sounds like an idyllic vacation, there is a Caribbean charter yacht waiting for you to make your booking.

Experience The High Life With Luxury Yacht Charters

A vacation is something that we all look forward to in order to enjoy some rest and relaxation, and some serious time out from the hustle and bustle of every day life. However, all too often we find the destination to which we travel overcrowded with other tourists, which means that we often end up taking the hustle and bustle of normal life with us on vacation. When you opt for luxury yacht charters you can rest assured that you will have the ideal vacation, combining the rest and relaxation that you crave with the opportunity to see some spectacular sights and enjoy a wide range of excitement. With luxury yacht charters you can cruise the seas and soak up the sunshine, and you can still dock and visit the places you wish safe in the knowledge that you can return to the peace and tranquillity of your own yacht when you are ready to do so. This is fast becoming a popular way to enjoy the ultimate vacation, and whether you are planning to take a loved one on a romantic trip or whether you are planning a family vacation, this is the ideal solution to a once in a lifetime holiday to remember.

See some of the most spectacular places in the world with yacht charters

When you decide to charter a yacht for your vacation you can select from a range of destinations, giving you the choice of visiting some of the most spectacular and beautiful places imaginable. From Greece and the Mediterranean to Miami and the Virgin Islands, you can enjoy soaking up some serious sunshine aboard your yacht as well as enjoying excitement and adventure in some fabulous destinations. You will find a range of different vessels to select from when you wish to charter a yacht or boat, from the fabulous mega yacht to a sailboat charter. You can also select from bareboat for those that do not require a crewed vessel, or you can opt for crewed yacht charters depending on your needs. With so much choice in terms of vessels, prices, and crewing options, you can kick back and enjoy the perfect vacation when you decide to charter a yacht or boat for your next holiday.

You can find great deals on luxury yacht sales online

If you are interested in luxury yacht sales you will find a great choice and some excellent deals when you go online. You can enjoy a choice of vessels from highly respected manufacturers in this field, such as Feadship, Lurssen, and Palmer Johnson. The cost of the vessels can vary, which means that you can find something that fits in with your budget as well as your needs. You will be able to enjoy exploring some of the most incredible destinations in the world with your known yacht, and you can enjoy the most fabulous vacation whenever you wish. The freedom and exhilaration that comes from this type of vacation cannot be understated, and when you take advantage of affordable vessels such as those you can find online you can enjoy this freedom and the beauty of some incredibly exotic destinations whenever you want. Clinton Maxwell publishes many news to the information source at http://www.luxury-yacht-charters-guide.com. The publisher is also publishing on issues like luxury yacht charters .

DISCOVER THE JOY OF YACHT CHARTER

YACHT CHARTERING - AN INTODUCTION:

Today for most of the people, sailing is a recreational activity, pursued with the joy of being on water and to experience the fresh breeze of the sea wind, beautiful landscapes off shores to fulfill their joy of the holidays with unforgettable experiences of nature. Recreational sailing is further divided into racing, cruising, day sailing, yachting, etc.; Yachting is a non-commerce boating activity. It may be racing on sailing boats, cruising to distant shores or day sailing along a coast.

Yacht chartering has become the lifestyle for people in western countries who consider yacht charter as one of the best ways to spend their money on holiday rides off the sea. Yachting could be a trip to the other side of the bay or across the oceans through islands where people hire yachts from the yacht charter company to enjoy their holiday trips for days together or even for more than a month.

YACHT CHARTER COMPANIES:

The companies that provide yachts for charter and usually for people who come for their holiday trip to sea shore resorts. They provide various types of motor yachts and luxury yachts to travel various coastal, island destinations, which are usually considered as the vocational activity. The flexibility of the yacht charter companies offers surprisingly excellent value for money often working out cheaper for booking best yachts especially designed to accommodate good number of people going for a holiday tour.

In the U.K, a system of association is run by the Royal Yachting Association which includes a range of courses both theoretical and practical for yacht charter companies covering all the activities of sailing and yachting.

SERVICE OF YACHT CHARTER GROUPS:

They have experts with marketing skills, industry knowledge and innovative of getting through the clients from various parts of the world. Most of the clients typically spend between 4-8 weeks of the year on board on their own yacht. Some of the clients may not use their yacht at all and regard it solely as an investment while others allow the yacht to be charted for a limited period of time.

On peak seasons where the hot spots of recreation land upon is the time for the charter management process to set a good hand with the clients to fulfill their affairs of yachting.

EXPLORE THE BEAUTY OF SEA THROUGH YACHTING:

Yachting enables one to enjoy the fun of the sea breeze with excellence in the enjoyment of sailing through all phases on a sailing yacht boat and charter a yacht for holiday vacation sailing . To explore the beauty of the sea, oceans or landscapes off the shores the yacht charter agencies offer modern traditional yachts. It offers many possibilities of unforgettable sailing trips and luxuries through the course of yachting.

Leading yacht and boat charter companies offer every conceivable crafts for hire. They provide spacious fully serviced yachts of all available sizes to accommodate any number of persons for a day, month or even a year. Nowadays, the yacht charters have developed modern yacht to accommodate small groups or 55 couple with voyages in the Mediterranean and Caribbean . They provide all services of a perfect yacht ride and satisfy the voyagers to fulfill their pleasures of sea ride.

LUXURY YACHTS:

Luxury crewed super yacht charter offer sailing boats for sailing vacations and holidays . Luxury yacht provide elegance and style with exclusive hotels and other facilities with professional and friendly service with ultimate freedom to the clients. There are numerous sources for the clients to book their journey through the yacht charter companies who offer exclusive ranges of yacht preferred by the clients.

START YOUR YACHTING NOW:

Don't miss the chance to enjoy the pleasure and joy of sea life during seasons. Most of the yacht charter concerns have remarkable yacht ships offered with utmost care and concern to the riders. Charter managers have experts in every aspect of charter management who take a very personal care in every approach of each yacht.

They always have a close relationship with their riders through the captain to form a link between them throughout their journey through yachting. Yacht charter vacations are fast becoming a popular way to enjoy spectacular sceneries, brilliant services and to explore the exotic coastlines and sports in all style and comfort with full enjoyment for the riders.

Reena Madhu is a SEO copywriter for internationalyachtchartergroup.com,She has written many articles in various topics.For more information visit http://www.internationalyachtchartergroup.com.
She can be reached at reenaamadhu@gmail.com

Chartering a Yacht in Greece - Things to Consider

The sailing season in Greece lasts from March to early November. During the Spring months, the weather during the day varies from cool to warm and is usually cool at night. The sea temperature is not usually suitable for swimming until the middle of May and then you can swim right through to the middle of October. The months of May, June, September and October usually have warm to hot daytime temperatures and pleasant temperatures at night. There are good winds at this time, but they are often variable. In July and August there are stronger winds, particularly in the Cyclades islands. Spring and Autumn are the most popular seasons for yacht chartering in Greece because this is when the climate is most suitable and there are far fewer tourists on the mainland and on the islands, than there are in high Summer.

Deciding on the Type of Charter

There are many options to choose from and when planning your trip you should consider the following questions. How many people will be in your party and will they require single or double berths aboard? Do you require a sailing yacht, a motor yacht or a motorsailer? What level of comfort do you want aboard? Will you require a skipper? If you require a bareboat (i.e. you intend to do the sailing yourself, without skipper or other professional crew aboard), what size of yacht are you experienced in handling? Remember that European regulations, require that two qualified people be aboard. Another option is to sail in a group or flotilla of other boats. These can be a combination of bareboat and skippered yachts, and can provide you with the right balance of educational support and local knowledge.

Length of Trip

In order to get the most out of a yacht charter, the minimum length of trip should be about 7 days. As for the maximum amount of time, that is up to you. Many companies will offer discounts for longer charters. Good charter companies will have lots of local knowledge on the best routes and places to visit, and will work with you to agree an itinerary, which suits your needs. Remember that you do not have to spend all of your time aboard the boat. You could arrange a couple of days at the beginning at the end of your charter to explore the mainland. It is well worth spending at least two or three days in Athens, which unfortunately is often side-stepped by people who visit Greece and head straight for the islands.
Emmanuel Mendonca is the webmaster and publisher of Athens Room at http://www.athensroom.com- a free service for finding and advertising property for rent in Athens, with a wealth of information on visiting, living and working in Greece.

Yacht Management Made Simple

Yacht Management is a relatively new branch to the Yachting Industry. It has emerged through the ongoing popularity of sailing vacations, or chartering. Boat owners are opting out for the opportunity of placing their yacht in a charter fleet.

Yacht Management alleviates many of the activities that support the operations of a yacht. The responsibilities that are associated with the care of your yacht are made as pleasurable as possible, and less of a hassle. The role of yacht management is to bridge the gap between recreational and professional yachting. A “newbie”, intending to relieve their stress would benefit greatly from this. Yacht Management can make the difference of keeping a dream from becoming a nightmare.

Yacht Management & Chartering

Yacht Management is crucial when it comes to chartering a boat. Generating income with a boat isn't easy, but in almost all cases, success depends on treating a vessel as a business. Yes, of course a boat owner will attach only recreational purposes to their boat. This is normal, most of time that is the intention. Purchasing Yachts and immediately placing them into a charter program is a growing trend, though. According to many boat owners, one of the easiest ways to slip into chartering is to get the help of a yacht management company. The Catamaran Company has a division dedicated to these kinds of services.

These services include listing the vessel with yacht brokers nationwide or internationally, so the yacht owner does not have to spend their time on advertising and marketing. The most sophisticated services take care of everything from booking the yacht, collecting payments and coordinating maintenance and repairs. In return, the management company collects a percentage of the charter income. The boat owner collects on the larger percentage of course. The Catamaran Company client profits are in the higher side of the spectrum, when considering industry standards.

Allowing, a firm take care of the management of your boat will help you offset some of the costs of buying and maintaining a boat. One of yacht managements many functions are to protect the buyer’s investment. A team of professionals will have a greater chance of prolonging the life of the investment.

Typical Catamaran Company Maintenance Services

The Catamaran Company is dedicated to making every aspect of boat ownership and use pleasurable for you, your family and your guests. Our service department can help preserve and even enhance the long-term value of one of your most important investments. We will make sure that your yacht is ready to go whenever you are.. and all in top operational condition!

Typical services include:

• Complete Yacht Services

• Varnish & Bright Work

• System inspection on a regular basis with a written report of findings & recommendations to owner

• Administer an applicable Preventative Maintenance program

• Scheduled systems operation to ensure the preventative maintenance program is effective

• Structural repairs

• Fiberglass

• Engine Overhauling, re-powering

• Hardware & hand-hold restoration or replacement

Yacht Deliveries – Satellite Tracking

The Catamaran Company can help you arrange a delivery anywhere in the world. We have partnered with industry specialists who have excellent credentials in safely delivering your yacht to a number of international destinations.

Yacht owners can now log into our special satellite system to chart the position of their yacht anywhere in the world. The system is powerful - it allows you to zoom in on the boat via special illustrative charts. Not only does this give you piece of mind knowing exactly where your yacht is in the delivery stage, but its fun.

The system functions through two main components: they are the terminal, and satellites. The terminal is the only physical element that is needed to install on the boat. It contains modern GPS and sophisticated software to achieve bi-directional communication with Inmarsat geostationary satellites.

The satellites work through the Inmarsat Network (International Maritime Satellite). This system offers world-wide coverage excluding the world’s remote regions like the North and South Poles. The four geostationary satellites are located on top of the Ecuador at around 35,500 kilometers.

If you would like to view a short clip on the delivery of a Lagoon 44 go to

http://www.catamarans.com/catamaranco/video/lp_44_Delivery.asp?bhcp=1

Private Management in British Virgin Islands, Tortola

The British Virgin Islands and the Island of Tortola exists in one of the most beautiful, quite and well preserved natural environments rivaling just about anyplace in the world to visit. Over the course of the last few years this area has proved to be one of the most fertile grounds anywhere in the world relative to the generation of income for the charter industry.

In order for these services to be optimal quality control must be implemented. Control in the quality of service must be handled by both owners and customers in the preparation of each charter as well as understanding and maintaining the yachts in our care and custody.

For more details please visit http://www.catamarans.com/

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.