Todo lo que debe saber sobre el Crédito Náutico - Sysfinance

Currently, many people dream of acquiring their own boat. However, boat prices are high, and sometimes it seems challenging to consider this possibility. Therefore, in recent years, new boat financing methods have emerged in the market, making it possible to fulfill the dream of owning a recreational boat. In this article, we will tell you everything about one of them: nautical credit. Take note!

What is Nautical Credit?

A nautical credit or boat credit is a financing solution for a customer who wants to buy a recreational boat.

It is a financial operation in which the person wanting to acquire a boat agrees with a nautical financing entity on the provision of the necessary money to buy the boat, with the condition of repaying that money within a maximum period of 15 years under a determined interest rate.

In nautical credit, the boat's owner is the borrower or the boat owner, which can be the consumer or the customer.

Nautical credits are, in reality, not much different from certain personal loans subject to the financing of a specific asset. The mechanics involve requesting money from a financial institution to purchase a boat (usually for recreation), and the institution grants it after evaluating the applicant's conditions. Additionally, the customer commits to repaying the borrowed money to the nautical financier within a maximum period of 15 years.

Is it possible to apply nautical credit to all types of boats?

Generally, this form of nautical financing is granted for new recreational sail and motorboats with European Union markings, so they can be registered in Spain and enrolled in the property registry when necessary.

Semi-new or used boats that are less than 10 years old and in good condition can also be financed through nautical credit. Additionally, they must have European Union markings and be eligible for registration in the Spanish Maritime Registry.

Charter companies frequently benefit from this form of nautical financing since, with it, the company owns the boat from the outset. Moreover, they do not have to pay the registration tax because they are exempt due to their activity and have the possibility to finance semi-new or used boats that have already paid VAT.

What is Credit with Retention of Title?

Credit with retention of title is simply a guarantee for the financial institution, ensuring that the boat cannot be sold without paying off the loan.

Advantages of Nautical Credit

• You will not have to worry about handling the administrative tasks of registration or enrollment as the financial institution will take care of it, saving you time and resources.
• The interest rate applied to this type of financing is fixed, allowing you to always know what you will pay without surprises during the financing period.
• You will not be obligated to purchase amortization insurance, as is the case with other financing options.
• Increasingly, nautical financiers offer personalized credits, providing more flexibility than other forms of nautical financing. Thus, you can request the creation of a tailored credit to fulfill your dream of owning a boat.
• You will not pay for study or opening fees or credit formalization costs.

Requirements for Obtaining a Nautical Credit

To purchase a boat through nautical credit, the following requirements must be met:

• The boat you wish to acquire can be new or used as long as it is not more than 10 years old.
• The boat must have a European Union certificate and be in good condition.
• The customer must demonstrate sufficient financial solvency to incur debt, repay the credit, and prove repayment capability.
• A down payment of 30% of the boat's total price must be provided.
• Repayment must be completed within a maximum period of 15 years.

Steps to Apply for Nautical Credit

1. Identify the boat you want to buy with a proforma invoice, budget, or a listing, in the case of a used or semi-new boat.
2. Fill out a questionnaire requesting the amount to be financed.
3. Submit the relevant personal information to assess the possibility of granting the credit. This documentation must demonstrate repayment capability, recurring annual income, and that net income exceeds 40% of your commitments.

Seek Professional Advice

If you are considering applying for nautical credit to acquire a recreational boat, it is especially advisable to seek a financial advisor specializing in boats. Working with companies dedicated to nautical financing will allow you to deal with professionals who handle these issues daily and can recommend the most suitable product for your needs.

Additionally, if you take out nautical credit with a financier like SYSFINANCE, you can forget about management fees. Our team of professionals will handle the necessary documentation to register the boat's ownership and obtain its registration. This way, the boat will meet the conditions required by Spanish regulations for navigation.

If you are thinking of acquiring a boat and need advice on its financing, contact SYSFINANCE. Our team of professionals specializing in the recreational and professional charter nautical sector will offer you Europe's leading nautical financial products.