We purchased a boat from Guatemala
last year and the financing
was incredibly difficult. We finally worked everything out through Essex Credit. Here are 5 things we encountered:
1. Several lenders would not accept an out of the US survey
2. None of the lenders would finance it until it was in US waters. (they don't seem to care where you go afterward)
3. We ended up only financing about 40% of the actual price
4. After a very long negotiation and planning process, we ended paying a large portion up front before bringing the boat to the US for final funding
of the financed portion. This was quite scary, but the previous owners were also taking the risk with us.
5. Insurance arrangements were also tricky because we did not actually own the boat while crossing the Gulf of Mexico
. We finally purchased a joint policy with the previous owners named.
Hope this helps. I highly recommend Essex Credit Corp. They were the only ones willing to help us figure out how to actually work
through and finalize everything.