No matter what you need for borrowing is, be it you have found your dream home but are struggling to raise the funds to purchase it quickly in this hot market, or there is a tax bill that needs to be paid and you don’t want to liquidate assets that are quickly increasing in value during a bull market. These and several other situations are perfect for when you want to obtain a loan using your luxury yacht as collateral.
Luxury Asset lending is possible using valuable items, such as luxury or classic cars, jewelry, artwork, gold or silver bullion and coins, and yes yachts. This is particularly popular among business owners as well as asset-rich but cash-challenged individuals looking for the best loan rates.
There are several companies that have popped up to provide loans to clients but only a few have been around as long as we have at Luxury Asset Pro which is nearly a decade in this business. We have dealt with clients with all sorts of Luxury Assets from all over the world.
Luxury yachts are good assets to put up as collateral because they are easier to validate as genuine, the ownership can be determined quickly, and many of them may even be increasing in value as time passes. This means that you are able to get the best possible loan terms because any potential risk faced in making the loan and its repayment may be lower than with some other Luxury Assets.
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Luxury Asset Pro understands that our clients are wealthy individuals who demand discretion and therefore we put this first. We also provide quick expert valuations of your yacht, no matter where it is kept, as well as a tailored service that can potentially get you the funds you need in the shortest amount of time possible. There is no credit check run and therefore this service does not result in any credit footprint. So if you have stellar credit or bad credit a transaction with Luxury Asset Pro will not be effected by that.
Many of our clients are using the funds from their yachts backed loans to close property deals, make a quick investment, or pay their tax bill. We often deal with clients that have irregular or semi-regular cash flow, for example, a lottery winner who is waiting for their yearly payout. You may have access to bank debt and by using your Luxury Asset you can top-up your cash flow.
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Luxury Asset Pro understands that our clients want more imaginative ways to help them buy a property by borrowing against their existing Luxury Assets.
Feel free to request a valuation for your yacht and begin the process HERE
We will put you in contact with an appraiser to verify the ownership of your vessel and they will then provide you with a valuation as well as the amount of the Loan To Value (LTV). If your boat is appraised at $10,000,000 and your LTV is 50% you can obtain a loan of up to $5,000,000. Every yacht is different and your LTV will depend on the particular yacht you have. You may also request a line of credit on this valuation to lower the monthly interest owed to only the amount of the line used.
If the asset, during the loan term which is usually between 6 months to seven years (depending on your needs), has fallen in value, Luxury Asset Pro becomes more exposed and no additional funds are requested from you, which makes it crucial that assets are valued correctly in the first place.
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After you receive your offer, up until you sign the paperwork, you are under no obligation to move forward. If the LTV is not enough for your needs and you have other items of value, you can add those to reach the value needed. When you apply you can submit all items for valuation to help in your decision process.
Luxury Asset Pro interest rates are extremely competitive in the industry, and much better than could be obtained with an unsecured loan. Your yacht will be stored in a secured and professional facility. There may be some restrictions to access it, and it cannot be removed. During the term of the loan you will always remain the owner of the yacht unless there is nonpayment of the loan.
If you have any questions or would like to get the loan and appraisal process started click HERE