Murphys_Law
Member
No but the dealers will pay 10% of cost base boat and get the rest on a stock financing agreement back by Fairline, possibly interest free as fairline could well be paying interest!
New Fairline Targa 43 Open
- Thread starter Sojourn
- Start date
No but the dealers will pay 10% of cost base boat and get the rest on a stock financing agreement back by Fairline, possibly interest free as fairline could well be paying interest!
petem
Well-Known Member
ari
Well-Known Member
That's interesting, thanks. Apologies, hadn't realised that you work for Fairline.
jrudge
Well-Known Member
I have no idea who works for who however i did used to run dealer stocking plans for Lombard.
Stocking can either be a dealer line where the dealer is borrowing against the trade price of the asset. They pay market rate interest. Finances houses want it as it is large sums of money lent. The flip side is huge losses when the dealer goes pop as assets can’t be found / not worth declared value ( particularly second hand vehicles / vessels). To manage this every asset is inspected monthly which has a cost.
The second flavour is manufacturer backed. Rare in the boat industry to be honest but normal for cars. The manufacture sets the terms often getting a greater percent of the asset value and an interest rate based on the covenant of the manufacture ( which in theory is stronger than the retailer ) and they may also subsidise the finance for a period. There is no point in a long term subsidy as the dealer has no incentive to sell it!
The cost of stocking for a boat dealer is horrific. Interest. Mooring fees. Insurance. Oh .. and it depreciates ( new stock is just as bad if you change HIN year). The margin on the boat is about 23-25 percent ( it was when I was involved ) and by the time you deduct that lot and give the Punter 10% there is nothing left. The dealers don’t want stock. The manufacturers require it to have a franchise to shift the risk and make sure jeremy who wants a discount does not just apply to be a dealer!
Stocking can either be a dealer line where the dealer is borrowing against the trade price of the asset. They pay market rate interest. Finances houses want it as it is large sums of money lent. The flip side is huge losses when the dealer goes pop as assets can’t be found / not worth declared value ( particularly second hand vehicles / vessels). To manage this every asset is inspected monthly which has a cost.
The second flavour is manufacturer backed. Rare in the boat industry to be honest but normal for cars. The manufacture sets the terms often getting a greater percent of the asset value and an interest rate based on the covenant of the manufacture ( which in theory is stronger than the retailer ) and they may also subsidise the finance for a period. There is no point in a long term subsidy as the dealer has no incentive to sell it!
The cost of stocking for a boat dealer is horrific. Interest. Mooring fees. Insurance. Oh .. and it depreciates ( new stock is just as bad if you change HIN year). The margin on the boat is about 23-25 percent ( it was when I was involved ) and by the time you deduct that lot and give the Punter 10% there is nothing left. The dealers don’t want stock. The manufacturers require it to have a franchise to shift the risk and make sure jeremy who wants a discount does not just apply to be a dealer!
MapisM
Well-Known Member
31kts TOP speed? Did I get that right? :ambivalence:
[2068]
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Brochure says 34.
MapisM
Well-Known Member
I was talking of what Jack says at about 1:15...
[2068]
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Jack is possibly quite heavy ??
PowerYachtBlog
Well-Known Member
So the 43 Targa is slower then the 48 with the same engines. .... Tops 32 knots with IPS600 the 48.
petem
Well-Known Member
It's being tested for next months YBW. We'll know the answer then.
petem
Well-Known Member
I love the wood work. Lacquer is like glass. I'd buy one in a heartbeat if I had a spare £700k!
AllanG
Well-Known Member
jrudge
Well-Known Member
Whitelighter
Well-Known Member
I’ve not seen it yet, and I’m sure it’s lovely but
There are a whole raft of boats I’d spend £700k on and none of them are a 4@ft sports boat.
I acknowledge I’m wildly out of touch and I’m sure all mid 40ft sport boats are similar money but for me that’s nuts
petem
Well-Known Member
What kids?! You don't honestly think I'd be allowing any on board?
I'd be insisting on the removal of all watches, jewellery, belt buckles, etc
.
jrudge
Well-Known Member
What kids?! You don't honestly think I'd be allowing any on board?
I'd be insisting on the removal of all watches, jewellery, belt buckles, etc
Any where is the fun in that!
I didnt bother getting the carpet cleaned pre season for exactly this reason - then i cant be bothered about it. They have been cleaned now I might add!
No point in having anything that is too precious to use.
petem
Well-Known Member
Says that man that used to put carpet protector film down at the start of the season!
Actually, I agree with your sentiment, it's a lot more relaxing having an older boat, particularly once it's been christened with a few knocks. In fact there's a ding on the back of my BP that I haven't had fixed, precisely for that reason.
rafiki_
Well-Known Member
Will have a look in a few minutes hopefully
jrudge
Well-Known Member
Still do from time to time.
Costs nothing, takes t2 mins to put down, means I don't give a damn ( which is the relevant bit) AND when you take it up the sticky does a better job than any hoover! When down unless you look you really don't notice it.
