Marine Finance

[Jerbro]

Has anyone had any experience using Ray Cox Marine Finance? Any views on any of the big finance houses in this game?

<hr width=100% size=1>Jerbro
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Click here for <A target="_blank" HREF=http://www.btinternet.com/~jerbro> My ex-boat pics</A>

 

[tr7v8]

Finance as distinct from Mortgage then I used Barclays Marine Fnance who were extremely quick and me being a contractor!

Rob 07775551383
Genuine nice guy and actually has a boat.

JIm
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[Observer]

I have never heard of "Ray Cox". May be perfectly good but I would advise a little extra caution if you deal with a finance company which is not bank owned.

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[hlb]

I use only one finance for my boat. Mine. Anything else is questionable!!

<hr width=100% size=1> <font color=blue> Haydn

 

[Mangusta]

Re: Banks & Finance

Banks want everything their own way and ensure it is written in to their contracts, relying on their brand names to provide confidence & assurance, but their targets for bad or doubtful debts are very tight and it is when the going gets tough that the differences appear. Using specialists can have advantages in these situations, you can negotiate at a much higher level and the terms of the agreement can be flexible.

When purchasing bi-beauty we used a film and a property financier who each part financed the boat, the advantage being the very flexible payment schedule which gave cash flow advantages. We needed these, and it turned out to be helpful as there was a problem with the boat uncovered during the sea trials.

Our advice would be to check the firm and their secondary funding source carefully if you are going this route.

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[byron]

<font color=blue>hear! hear! If I can't afford it for readies I can't have it.

<hr width=100% size=1>http://www.alexander-advertising.co.uk

 

[sailbadthesinner]

yes but have to keep any readdies hidden from swmbo

i found her boot full of shoe boxes and shopping bags the other day
she has been smuggling them in. It is a sort of wooden horse, in reverse, scenario.

i have almost given up.

<hr width=100% size=1><font color=red>Ok brain let's just do this and I can get back to killing you with beer</font color=red>

 

[Dave_Snelson]

They are all too expensive

I suppose my title comment needs some justification...It dependes on how much you intend to borrow and on what terms. Typical though are rates at 7.4% to 8.3% and this is too expensive. Also, they want security of the loan on your boat.

If you want less than £30k try Liverpool Victoria. Yep, thats right, the mutual insurance & investment company. They are knocking out unsecured loans for the right people (good credit history) at 6.8% APR. Try [http://www.liverpoolvictoria.co.uk] Bigger loans than this and you will need a marine mortgage. Don't forget all the sensible title and survey stuff first, before parting with cash. Cheers.

<hr width=100% size=1>Madoc Yacht Club
<A target="_blank" HREF=http://www.madocyachtclub.co.uk>http://www.madocyachtclub.co.uk</A>

 

[tripleace]

Re: liverpool Vic

rates for loans look right but the income protection is vastly over priced.

You can get full Accident Sickness cover + redundancy for £3.29 per hundred.

Liv Vic wanted £6.62 per hundred


send PM if you want ASU cover


<hr width=100% size=1><A target="_blank" HREF=http://www.boating-ads.co.uk> Triple Ace Link</A>