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Old 19-09-2016, 18:11   #1
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Join Date: Sep 2016
Boat: Lagoon 400S2
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Financing French Delivery/Med Cruising as US Citizen

Hi all,

First post on the forum but long time reader of this excellent resource. I'm planning on purchasing a new Lagoon 400S2 and doing a factory pickup in France June 2017, cruising the Med for 18 months, then heading back to Caribbean/US East Coast with the ARC in Nov 2018. I plan to put $200k USD down on an approx $415-425k purchase. I have solid income and excellent credit.

I've been approved for the loan at around 4% for 20 yrs (slightly less for 15), however every lender seems to require an immediate return to the US after pickup. By immediate I mean 30 days after signing the papers which is crazy. I find it hard if not impossible to believe that every U.S. purchaser of a new European boat that does a factory pickup and cruises the Med directly after has paid cash.

Any experience out there with this financing quandary as a US citizen with sights on cruising the Med after factory delivery?

Thanks in advance...

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Old 19-09-2016, 19:39   #2
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Re: Financing French Delivery/Med Cruising as US Citizen

I've talked to a few lenders and haven't gotten as far as you in terms of actually purchasing. But I was advised by more than one that it's easier to do a home equity draw to purchase the boat for cash then bring the boat back to US and finance it with a boat lender and pay off home equity. A prominent French builder told me they hadn't seen a true construction loan done from the US completed successfully

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Old 20-09-2016, 06:51   #3
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Join Date: Sep 2009
Boat: Lagoon 42
Posts: 35
Re: Financing French Delivery/Med Cruising as US Citizen

It can be done. My lender is doing just that, and my situation is very similar to yours. I can get you my lenders info, just PM me. My lender has done many loans for new Lagoon boats, and know the particulars. I found most lenders were too inexperienced with offshore purchases to gettoo interested. Their answer was like what they told you, the closing had to be done in the US, with the boat also. So how does someone buy a new boat made in France? It must be paid in full to the factory before they will let it go!
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Old 20-09-2016, 11:33   #4
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Location: San Antonio, Texas
Boat: Soon to be a Cat
Posts: 205
Re: Financing French Delivery/Med Cruising as US Citizen

Welcome to the Forum nopenowaydude!

And Congrats on the Upcoming purchase. Keep us in the loop, I am looking at doing the same thing although still working on the timing. Great Boat!
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