Down payment

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   As an aspirering new Hanse owner I have some worries/questions regarding the downpayment on a new Hanse. My dealer requires a 15% downpayment. Is this the norm and is it set by the dealer or by Hanse Yachts? Further more I would like to know how you secured your money. In these times it might be naive to just hand over the money and hope for the best.
As I understand one buys the boat from the dealer who then buys the boat from Hanse, very much like buying a new car except for the downpayment.....
Thanks.

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Kymo Members Profile Send Private Message Find Members Posts Add to Buddy List Lieutenant Joined: 04 June 2008 Location: Holland Status: Offline Points: 21	Post Options Post Reply Quote Kymo Report Post Thanks(0) Quote Reply Topic: Down payment Posted: 18 October 2008 at 10:18
	As an aspirering new Hanse owner I have some worries/questions regarding the downpayment on a new Hanse. My dealer requires a 15% downpayment. Is this the norm and is it set by the dealer or by Hanse Yachts? Further more I would like to know how you secured your money. In these times it might be naive to just hand over the money and hope for the best. As I understand one buys the boat from the dealer who then buys the boat from Hanse, very much like buying a new car except for the downpayment..... Thanks.

Drumduff Members Profile Send Private Message Find Members Posts Add to Buddy List Commander Joined: 11 April 2008 Location: Kip Marina Scot Status: Offline Points: 149	Post Options Post Reply Quote Drumduff Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 11:36
	Hi. When we bought our boat in June Hanse asked originally only asked for 10% which we were ok with as we'd just sold our old boat. However when we went to look for a marine mortgage to finance the rest we then found that the Finance company (Lombard Marine) were only willing to finance 80% of the yacht so we ended up having to put down an additional 10%. So in todays financial climate if you're looking to finance your boat through a bank/finance company I would check what their terms are before committing to what Hanse are asking for.

Scotchmist Members Profile Send Private Message Find Members Posts Add to Buddy List Captain Joined: 15 June 2008 Location: United Kingdom Status: Offline Points: 185	Post Options Post Reply Quote Scotchmist Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 12:26
	Arrangements may differ between individual dealers. When I bought Scotch Mist through the UK dealer, I seem to recall I was buying from Hanse, rather than from a seperate dealer. So far as a deposit is concerned I took the view that as long as my contract was with Hanse rather than the dealer there was a lesser risk of loosing it. i.e. Hanse were less likely to become insolvent than a seperate dealer. My advice would therefore be to ensure your contract is with Hanse.
	Andrew Scotch Mischief Dehler 38 by Hanse

Abstinenz Members Profile Send Private Message Find Members Posts Add to Buddy List myHanse Moderator - Denmark Joined: 27 May 2006 Location: Denmark Status: Offline Points: 563	Post Options Post Reply Quote Abstinenz Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 15:08
	Hi, You can always ask the dealer for a "banker's guarantiee" He will probably ask you to pay the related expences, but it could be worth it. That's quite a normal way to secure your money when the dealer asks for down payment - which is also a normal procedure when buying a yacht. /Steen
	Hanse 342#436

Yeoman Members Profile Send Private Message Find Members Posts Add to Buddy List Admin Group Joined: 31 May 2007 Location: Hamble Status: Offline Points: 384	Post Options Post Reply Quote Yeoman Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 15:12
	When a Hanse dealer orders a boat on your behalf they are required to pay a 10% deposit to the factory. They then need to pay the final balance when the yacht is ready for collection (stage payment also required for 470e upwards). The yacht will not be released from the factory until the yacht is paid for. Froma security point of view the British Marine federation sale agreement has a very good clause under the "ownership of vessel" section, which states that once a stage payment (deposit) has been paid by the owner the vessel (at whatever stage of build) and any parts/equipment appropriated toward the vessel belong to the owner. The builders keep a lien over the boat and parts until it is complete but it is the owner who is in control. BMF agreement F6. You could ofcourse pay the 10% on a credit card for payment protection but the dealer will need to charge 2% for credit card handling fee. Hope this helps Phil

Yemanja Members Profile Send Private Message Find Members Posts Add to Buddy List Commander Joined: 20 April 2008 Location: Netherlands Status: Offline Points: 84	Post Options Post Reply Quote Yemanja Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 15:42
	I would ask for a bank garantee, look at the topic Dutch dealer. They are bankrupt and al lot of buyers have a problem now. Not only with down payements but also waranty isues. If I had knew it was the dealer who was responsible for the waranty and not Greifswald (the builder) I am not sure I would have bought a Hanse
	Hanse 320 #151

Peter Russell Members Profile Send Private Message Find Members Posts Add to Buddy List Commadore Joined: 24 October 2007 Location: Wiltshire Status: Offline Points: 432	Post Options Post Reply Quote Peter Russell Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 18:35
	One option if you have enough credit limit is to put it on the credit card. IIRC I did that with mine - although absolutely no problems with the dealer or transaction. Works in the UK that the credit card company is jointly liable if anything goes wrong. Not sure in other countries.
	Peter Russell Hanse 370 hull 499 "Outnumbered" http://outnumbered.the-russells.net

alisa Members Profile Send Private Message Find Members Posts Add to Buddy List Sub Lieutenant Joined: 02 October 2008 Location: United States Status: Offline Points: 16	Post Options Post Reply Quote alisa Report Post Thanks(0) Quote Reply Posted: 18 October 2008 at 21:46
	It is my understanding that a common boat loan is 80/20%. You first put 10% down and then once the boat is delivered to you you pay your other 10%. The bank takes care of the rest. this is how it's done in the US. IF you were able to get a loan with 10% down then you'll pay much higher interest.
	jl

panos Members Profile Send Private Message Find Members Posts Add to Buddy List Admiral Joined: 02 March 2008 Status: Offline Points: 1939	Post Options Post Reply Quote panos Report Post Thanks(0) Quote Reply Posted: 19 October 2008 at 14:32
	Hi, In today's difficult situation I wouldn't know who to trust less: The dealer, Hanse or the bank. When I bought MMBW Nicole, I gave to the local agent (Status Yachting Ltd) all the money including the Bank loan (70%). We only signed a short contract with the boat options I chose, the total price and the appr. delivery date. But I guess I knew them personally. Personal trust counts more these days. Edited by panos - 19 October 2008 at 14:33
	Panos Hanse 630e - selling her -

Yemanja Members Profile Send Private Message Find Members Posts Add to Buddy List Commander Joined: 20 April 2008 Location: Netherlands Status: Offline Points: 84	Post Options Post Reply Quote Yemanja Report Post Thanks(0) Quote Reply Posted: 19 October 2008 at 15:03
	We did the same. I must say I was quite worried about it. Later we discovered the line on wich the winches were orderd was left out of the list that was send to Germany but the total amount was still including the winches (by accident, on purpose?). We trusted they would be send later and placed, but now with the Dutch dealer bankrupt and Germany is silent in all languages (Dutch saying) I will never be of such good trust again.
	Hanse 320 #151



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