Financing & Documentation

Financing FAQs

• What are the benefits of using Safe Harbor Yacht Sales’ financing versus competitors?

  As part of the Safe Harbor Yacht Sales Team, we work in tandem with you, your broker, and your insurance agent throughout the boat purchase process. We coordinate with your closing team to make buying a boat a seamless process. Our clients don’t have to make endless phone calls between lenders, insurance agents, brokers and admins. Once we have a loan approval in hand, your documentation specialist already has you on her calendar and is working to be sure she has all the information necessary to process your application when we are ready to close. Your closing coordinator is prepared with your financing amount and lien holder information. Your finance manager will advise you during this process of what the next steps are, when you are called to action, and when we need to schedule closing so your loan is funded in a timely manner. We work with the insurance agents to be sure they are advised of loss payee details and be sure your insurance falls within the lenders requirements. Even small details – like making sure everyone involved has your name and address precisely as it appears on your ID, so there are no hiccups with funding and insurance. We travel to your home or business, if needed, to close in person to make life a little easier for our clients.

• How are boat financing rates calculated?

  Loan rates are tied to 10-year Treasury Bills and are very much in line with home mortgage rates, even a slight bit lower. Rates vary widely, not just based on a client’s credit score, but age of the boat, loan to value percentage, term of the loan and amount of the loan. The best rates are always found with a Super Premium borrower (800 FICO and above), an amount of loan over $100,000, shorter term periods, 30% or more down and a boat less than 15-20 years of age. Contact our team today to get more details on current boat financing rates.

• If someone was interested in financing their boat, how would you advise them?

  If you are considering financing, it is best to get pre-qualified so you know exactly what your budget should be. Fifty percent of your rate comes from your credit score. The other half of the rate comes from the age of the boat, the loan to value percentage, the term of the loan. Some people are rate-driven, others are payment-driven. It never hurts to have conversations with lenders prior to shopping for that perfect boat. Many times, you get a far better rate and terms on a newer boat versus an older, less expensive one. Your down payment and monthly payments can actually be less for a more expensive newer vessel!

  We recommend reaching out early in the buying process. Our team can prequalify buyers and discuss financing structures that best fit their goals—whether fixed or variable rates, down payment expectations, or flexible loan terms. We make the process simple by assisting with loan applications and managing communication directly with the lender from start to finish.

• What are the biggest benefits of documentation?

  U.S. Coast Guard documentation provides a nationally recognized title that simplifies ownership, transfers, and international travel. It’s often required by lenders and is ideal for larger vessels. Documentation offers clear proof of ownership, helps protect your vessel’s name and identity, and provides flexibility for future resale or relocation across state lines. It also eliminates the need for those pesky state registration stickers—keeping your vessel’s appearance clean and professional.

• Why use SHYS documentation over third parties or trying to do it yourself?

  Our documentation department removes all uncertainty from the process. We handle every detail—from Bills of Sale, lien releases, and ownership verification to corporate entity reviews, Coast Guard filings, and state tax compliance. Unlike third-party services, we work directly with your broker, lender, and insurance provider to ensure your closing stays on track. Every document is completed accurately the first time, protecting you from costly errors, delays, or rejections. Documenting a vessel through the U.S. Coast Guard is not as simple as filling out a form—it’s a legal process with strict requirements. Missing signatures, incorrect ownership structures, or incomplete information can invalidate your documentation. Many first-time buyers find the process confusing, especially when dealing with corporate ownership. By working with our documentation team, you’re protected from these pitfalls—we make sure every step meets compliance standards and deadlines, so your vessel is documented correctly, quickly, and worry-free.

• How does SHYS finance and documentation make a transaction easier for a buyer?

  Our finance and documentation teams work hand-in-hand to manage every aspect of the closing process. Buyers never have to juggle multiple parties or worry about missing paperwork. We coordinate the entire transaction—from loan approval through closing and vessel documentation—so you can focus on enjoying your new boat while we handle the details behind the scenes.