How to finance a RIB

Tom Sanderson talks through the most popular routes for financing a RIB:

Finance ballistic

Video Transcript:

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.

So with that in mind let the dealer know well in advance so they can make sure they have this paperwork to save disappointment at the last minute. So if you’re interested in finding out more
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.

I hope you find it useful.  If you’d like any more information get in touch and we can show you the RIBs that we’ve got and put you in touch with someone that can help you with finance.
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