It is now possible to replace an old engine with a powerful new one without having to pay five or six million in a lump sum. « BaikalInvestBank» has agreed with the official dealer of Volvo Penta engines, the company «KLM-Service», to provide leasing or credit for new boat engines and additional equipment. The option is available for both individuals and legal entities.
The credit is given for the term up to ten years with down payment from 30% of total cost and rate from 13% per annum. When registering the loan the whole vessel is encumbered.
The initial installment of the leasing agreement is 20% of the equipment total cost and the rate starts from 9% per annum. But one can extend his payments for up to five years. Only the engine and equipment are encumbered by lease.
Credit or boat motor leasing might become a panacea for owners of commercial vessels and private yachts who wish to replace an old engine on their boat with a new one without paying a big sum at once.
An engine always has a shorter life span than the boat itself. And the cost of a new engine is often more expensive than the boat itself.
The selection of a suitable engine and equipment is handled by «KLM-Service». Their competence includes all procedures starting from survey of the boat, selection of the engine, additional equipment, and drawing up a complete estimate to submission of documents to the bank.
The official dealer of the company is responsible for completion and further maintenance of the equipment, so all the procedures can be performed only by the managers of «KLM-Service».
During the term of the loan (leasing) the owner is obliged to have the engine serviced by the official dealer only.
It does not mean that leasing or credit is available only for Moscow region.
Company managers are ready to come to any region of the country for examination of the vessel and drawing up an estimate.
Consequences for irresponsible citizens are standard - as in any credit history.
In case of non-payment of the leasing contract within three months, the motor is forcibly taken away by court order. And all the expenses for the search, seizure and dismantling of the equipment will be incurred by the careless payer.
The loan agreement puts an encumbrance on the whole vessel at once. That is why bailiffs will take the boat in case of non-payment.
For now, only Volvo Penta motors are available for leasing or purchase on credit, but in the future, the line of products will be expanded. « BaikalInvestBank» is already negotiating with other suppliers of engines and additional equipment.
Also, soon there will be an opportunity to credit or lease an engine on a new boat of Russian manufacturers.
While buying a new boat, it will be necessary to pay for yard's work only. And the engine and additional equipment can be taken on credit (leasing). Taking into account that the cost of an engine is often over half of the vessel's total cost, this proposal can be very relevant and make new Russian vessels more available.
