Q: What should I look for in a lender?
A: When selecting a lender, make sure the company specializes in boat loans. For example, when buying a used boat, lenders need to understand related laws such as mechanic's liens and possessory interest. Without this expertise, you could end up having to pay for retroactive yard fees and mechanic’s charges.
Q: What financing options are offered to make the most of my boat purchase from an investment standpoint?
A: Your boat may qualify as a residence for purposes of deducting interest expenses on your tax return. In such instances, some customers choose to finance more of the purchase price of their boat and hold on to their cash for other purposes. Of course, you need to discuss these issues with your tax advisor for specific recommendations.
Q: What payment plan options are offered?
A: Look for banks that offer more than the typical monthly payment plan. For example, you may be more comfortable with a seasonal payment plan that allows you to skip up to three consecutive monthly payments per year and continue to skip the same months each year for the life of the loan. This option can be especially attractive for people with seasonal variations in income, such as contractors, sales representatives, retailers, consultants, and others.
Or for those with a large seasonal bonus, an annual payment plan option may be best. With this option, customers make just one payment a year, and can delay the first payment up to six months for some “breathing room” between the time of the down payment and the time of the first payment.
For those who wish to pay down the principal faster in order to save on finance charges and shorten the loan term, a bi-weekly payment option may work best.
If you want to avoid check writing hassles and guarantee that your payments will be on time each month, you may prefer to make automatic loan payment deductions from a checking or savings account through Automated Clearing House (ACH) transfers.
Q: How long will it take to process my loan?
A: The most sophisticated marine lenders can process loan applications from within a few minutes to a few hours, depending on the complexity of the loan. In many cases, a customer can be notified of the results within a matter of hours. Your marine dealer/broker can help facilitate a quick loan decision through their relationships with various lenders. Also, you may call most lenders directly or go to their Internet sites for additional information.
Q: Why do I need a survey done before I buy a used boat?
A: A professional survey is essential for all used boat sales, and most lenders require one. These surveys can uncover information about the boat’s condition that you may not have known. Getting a professional survey before you buy could save you thousands of dollars down the road. It’s better to be safe than sorry.
Q: How much can I expect to pay for marine insurance?
A: Cost for marine insurance depends on several factors, like your boating experience, current navigational equipment, where your yacht will be used, the value of your yacht and whether you will be living aboard or cruising offshore.
Q: If I buy a used yacht, who is responsible for paying the yacht broker?
A: Similar to real estate, the seller will pay all yacht broker commissions. This can vary though. It's best that you address that up front with the dealer or broker.
Q: Is there anything else to buy besides boats?
A: Yes. There is much more to the Boat Show than just the boats. There's apparel, electronics, fishing and diving equipment, jewelry, hats and caps, sunglasses, destinations/real estate, artwork, magazines, multi-media, safety equipment, boating accessories, engines, generators, and more. Even if you don't own a boat, you can still go on a shopping spree.
Q: Can I test drive a boat at the Show?
A: No. All in-water displays are locked in place as a precaution. You can however make arrangements at the show with the manufacturer/dealer to test drive models at some other time once the show has concluded.
Q: Where can I purchase tickets
A: 1) The best place to purchase a ticket is from our website. Tickets are automatically discounted by $2 when purchased from www.showmanagement.com (2) On site at the show, you can purchase a ticket at the box offices
Q: Can I bring food or beverages into the show?
Q: Is the Show handicap accessible?
A: All entrances into the show are accessible for people with disabilities. However, we can not guarantee access aboard some of the vessels.
Q: Do I need to make an appointment in advance to visit a manufacturer or dealer?
A: Yes, but not necessarily. The advantage of the Boat Show is that there will be plenty of representatives and dealers on site ready to start negotiations with you at the Show. Visitors who purchase tickets from our website are then sent a short survey in which your answers help us to match you with a dealer or manufacturer that has something to offer that matches your needs.
Q: Can I get aboard any boat?
A: In general, most boats at the show can be boarded, with the exception of the superyachts and megayachts. In some cases, you may have to go through a qualifying process to get on board a boat, in others, you can just take your shoes off and go. Access is granted at the discretion of the exhibiting manufacturer/dealer
Q: Where can I get a map of the show sites?
A: A map can be found in the Official Show program or you can download it from the website by going to the SITE PLANS link
Q: Can my name and photographs be used in Advertising and Promotional Materials
A: As a Boat show attendee and/or ticket holder you hereby consents that Show Management and its agents can use your name and photographs, video and film ("Photos") of you taken before, during or after the event in advertising and other promotional materials for the Event without compensation. You also agree that no advertising or other material needs to be submitted to you for approval. All Photos taken and used by Show Management and its agents are owned by Show Management and they may copyright material containing same. You hereby release, discharge, and agree to save harmless Show Management from any liability, including, without limitation, any claims for libel or invasion of publicity/privacy, by virtue of any use of your name and/or Photos, including, any alteration of such Photos, whether intentional or otherwise.