How to finance a RIB

Hi, I’m Tom and I specialize in RIBs. Today I’d like to talk to you about finance. Finance is a great option to help you get into a slightly bigger boat or reduce the amount of equity you tie up in your new purchase. There are a few options out there for financing whether it be a personal loan, a loan from a specialist boat finance company or the other would be a marine mortgage, which tends to be for larger vessels.

Now if you’re looking to finance a boat there are some key bits of paperwork you’re going to need to have in order for your finance to be approved. Now if you’re buying a new boat it’s relatively straightforward because you’ll get all of that paperwork from you. If if you’re buying a used RIB then you really do need to let the dealer know that your plan is to finance so they can check and make sure that they’ve got all of those documents in place. So there are some key documents you’re going to need in order for your finance to be approved. You’re going to require a c certificate for the boat, a declaration of conformity, the builder certificate proof of VAT status that ideally the VAT has been paid, and five years clear title just to make sure that there’s no outstanding finance on them.

about the cost of financing a RIB we’ve got a really useful calculator on the website. It will let you put in your deposit amount, your term, and give you a ballpark figure for what you’re likely to be paying each month.