OnBoard Magazine - Issue XI - Summer 2019

boats and other high-performance vessels—inboard or outboard powered. BUC/NADA Values for Pre-Owned Vessels • Banks will generally finance a percentage of low BUC or low/ trade NADA values for smaller vessels. • Most vessels must be surveyed (inspected) and the surveyor’s valuation must be at, or above the purchase price in order to obtain 80% LTV financing. Even with a completed survey, lenders can still default to a book value when determining how much they offer in financing for the vessel. FINANCIAL INFORMATION WHICH MAY BE REQUESTED BY THE BANK: • The two most recent annual tax returns, including all business returns and schedules • The two most recent W-2s (or 1099s) for each borrower • The two most recent paystubs for each borrower (proof of income) • Most recent banking, investment, and retirement account statements • Copy of photo ID for each borrower Co-Borrowers • Each borrower must qualify individually to be on the loan • If your liquid assets are held by more than one person but you opt to borrow solo without a co-borrower, the bank will only grant 50% credit towards the liquidity requirements. As stated, this is a complex analysis by the underwriters to determine the strength of the borrower and the collateral (boat) to decide what they will, or will not offer to lend. Bluewater's in-house financing team looks forward to using our tools, expertise and lender relationships to assist you through a seamless finance process on your way to boat ownership! Seamless Financing Solutions • Fixed Rates from 4.49% • No Pre-Payment Penalties • No Processing Fees • Flexible Down Payments • Pre-Qualification Service • USCG Documentation Service Buyer Benefits • Eliminates need for outsourced services to close deal • Allows the customer to work directly with their Sales Pro throughout the sales process • Strong relationships with lenders and banks provide the best rates and terms • Efficient closing process thanks to documentation checks and balances Seller Benefits • Eliminates need for outsourced services to close deal • Improved communication within Bluewater organization throughout the process • Transaction moves quickly after contract thanks to in-house services • Greater efficiency on both sides of deal for trade-in customers Vera Sohovich Marine industry expert Vera Sohovich leads Bluewater's in-house finance division with a wealth of knowledge gained from managing financing and documentation services for several leading yacht dealerships. BLUEWATER'S IN-HOUSE YACHT FINANCING 2019 EVENT CALENDAR Princess Experience West Palm Beach, FL Baltimore Boat Show Baltimore, MD Viking VIP Winter Preview Riviera Beach, FL Mid-Atlantic Sport & Boat Show Virginia Beach, VA Miami Yacht Show Biscayne Bay, FL Miami International Boat Show Virginia Key, FL OC Seaside Boat Show Ocean City, MD Eastern NC Boat Sale Greenville, NC Palm Beach International Boat Show West Palm Beach, FL Viking Key West Challenge Key West, FL Oriental Boat Show Oriental, NC Bay Bridge Boat Show Stevensville, MD Lower Bay Boat Show Bluewater Yachting Center, Hampton, VA Crystal Coast Boat Show Morehead City, NC Regulator Rally Grasonville, MD KeliWagner LadyAnglerTournament Morehead City, NC Big Rock Blue Marlin Tournament Morehead City, NC Virginia Beach Tuna Tournament Virginia Beach, VA Hatteras Marlin Club Release Tournament Hatteras Village, NC Ocean City Tuna Tournament Ocean City, MD Billfish Classic Beaufort, NC 18 JAN 24 JAN 1 FEB 8 FEB 14 FEB 14 FEB 15 FEB 22 FEB 28 MAR 10 APR 12 APR 12 APR 4 MAY 18 MAY 8 JUN 8 JUN 10 JUN 19 JUN 23 JUN 12 JUL 17 JUL NCDU Band the Billfish Tournament Morehead City, NC White Marlin Open Ocean City, MD Pirate’s Cove/Alice Kelly Tournaments Manteo, NC Wine, Women & Fishing Tournament Virginia Beach, VA Virginia Beach Billfish Tournament Virginia Beach, VA Wilmington Boat Show Wilmington, NC Norfolk Boat Show Norfolk, VA TrawlerFest - Harbor East Baltimore, MD United States Powerboat Show Annapolis, MD Ft. Lauderdale International Boat Show Ft. Lauderdale, FL Fish for a Cure Annapolis, MD Mid-Atlantic Rockfish Shootout Cape Charles, VA 24 JUL 5 AUG 10 AUG 16 AUG 21 AUG 6 SEP 13 SEP 24 SEP 3 OCT 30 OCT 2 NOV 5 DEC BLUEWATER SUMMER CRUISE HERRINGTON HARBOR NORTH TRACEY’S LANDING, MD JULY 11-14