Conventional loans
Financing of new in-stock and preowned yachts for USA buyers.
Yachts by David LLC is authorized by a leading marine lender in the USA to submit loan applications for preferred underwriting approval for conventional financing of new and preowned yachts purchased by USA buyers.
Typical loan terms on approval of credit and the subject vessel: 30% down payment; 15 to 20-year term; fully amortized; variable or fixed rates; no prepayment penalty; no origination fee. Interest rates vary with loan size, terms and borrower's credit.
The underwriting process for a conventional bank loan to purchase a yacht is similar to residential real estate. Full documentation and excellent credit score are required. A mortgage is recorded on the vessel and navigation limits may apply.
Get in touch for pre-approval before starting your yacht search.
New build progress payment financing
Exclusively for new CNB yachts purchased by USA buyers.
Yachts by David LLC has pioneered an innovative program with a leading marine lender to finance progress payments for new build orders of a CNB Yacht by USA buyers. The first loan has closed thereby providing a template for future transactions.
Typical loan terms on approval of credit: 30-50% down payment with borrower’s equity in first; interest only during construction; funds advanced on completion of each contract milestone; conversion to permanent conventional financing on delivery; no prepayment penalty after one year; origination, legal and inspection fees apply. Interest rates vary with loan size, terms and borrower's credit.
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The underwriting process for new build financing is similar to residential real estate. Full documentation and excellent credit score are required. Underwriting includes credit approval for the shipyard -- already obtained for the first loan. A mortgage is recorded on the vessel at delivery. However, navigation limits typically do not apply.
Book a free consultation for details.
Private capital
For USA and international buyers.
Yachts by David LLC has partnered with a licensed and registered private financial institution to finance the acquisition of luxury assets including yachts, private aircraft, fine art and real estate. This is an ABL program structured for each specific client.
The client must deposit 2x the acquisition price into a segregated brokerage account that will be managed by the institution's licensed investment advisor using a proprietary trading algorithm. A loan for 50% of the deposit is provided to acquire the asset with only the funds on deposit as collateral. Investment returns compound tax free and are structured to pay monthly loan interest, liquidate loan principal over time and still generate a return that is often higher than the client earns with his current advisor.
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No loan application forms, no tax returns, no disclosures, no credit check. No mortgage on the acquired asset. Non-recourse loan. Flexible repayment period. Any approved flag registration. Any approved nationality. No nav limits. Professionally managed. Fully compliant. Real time access to account balance and trading activity.
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Essentially, this program enables any asset to be acquired at zero net cost.​
Book a free consultation for details.
Yachts by David LLC and its manager, principals and affiliates collectively "Yachts by David" does not provide legal, tax, accounting or investment advice, You should consult your legal, tax or other advisors before making any financial decisions.
Yachts by David does not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when Yachts by David provides referrals to third-parties for credit solutions, financing, banking, custody or brokerage products and services. Yachts by David may receive compensation from these and other third-parties in connection with such referrals when permitted by law.
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Credit and collateral subject to approval. Terms and conditions apply. Programs, rates, terms and conditions subject to change without notice.