Welcome, Guest
Username: Password: Remember me
Remember - Your Username for logging in does not have to be your email address!
Read More...
BARGES: All about barges and barging - building, buying, maintaining, equipment, handling on the water, etc. (Public)
  • Page:
  • 1

TOPIC: Barge Financing?

Barge Financing? 14 Oct 2021 01:19 #126291

  • Christopher Monti
  • Christopher Monti's Avatar
  • Online
  • Posts: 3
  • Thank you received: 0
Hi Sharon,
We look forward to talking to you via email and hopefully in person soon. - Chris

Please Log in to join the conversation.

Barge Financing? 14 Oct 2021 00:48 #126290

  • Sharon Hammond
  • Sharon Hammond's Avatar
  • Online
  • Posts: 399
  • Thank you received: 170
HI Christopher,
Stan and I own a barge, a 1994 one-off Dutch replica built in England, now in northern France. For reasons mainly of health, we may be looking to sell her, or maybe share/use her in 2023 or 2024. We are in a position to carry some financing on her next owner's purchase. We bought her from Americans, all the ownership was transfer was in America, all done in US dollars, she is USCoast Guard registered. We'd love to keep the American ownership thing going. We could perhaps get an off Forum chat going. We are in the Bay Area but I'm guessing you are SoCal?

Please Log in to join the conversation.

Barge Financing? 14 Oct 2021 00:26 #126288

  • Christopher Monti
  • Christopher Monti's Avatar
  • Online
  • Posts: 3
  • Thank you received: 0
Thanks for your replies Ian and Peter,
For some background; my wife and I have lived aboard a tug/trawler here in the States (CA) for just over eleven years. We have rented barges in the Netherlands and France and would like to explore the possibility of owning - if we can pencil the budget out. [Yes we have a copy of DBA's Dutch Barge Buyer's Handbook.] I brought up the question of financing a barge so we could compare the scenarios of newer-used build (less depreciation more invested), against rental boat (very used, but low up-front $). Perhaps our current trawler is an exception but it holds its value and is quite economical to keep sound, safe, comfy, and seaworthy. However to address Peter's idea, we have no other home to second-mortgage. Consequently, we will most likely fall somewhere in between the two scenarios if we can find a barge that doesn't need much mechanical but won't kill our hard-earned cruising kitty ($$). We plan to start "kicking tires" in the Netherlands in a few months. If there are any more suggestions that can point us to smart steps that would be most appreciated.

Please Log in to join the conversation.

Barge Financing? 11 Oct 2021 11:34 #126238

  • Peter Cawson
  • Peter Cawson's Avatar
  • Online
  • Posts: 4641
  • Thank you received: 671
Chris - if you are resident outside Europe, I guess the difficulty in getting finance on a vessel based in Europe is largely because the lender would have great difficulty repossessing the vessel in the event you stopped payments. I wonder if it's ever a good idea to get finance on a depreciating asset. A boat has big running costs plus depreciation so adding finance seems a little rash on the basis that you need to raise cash to buy it in the first place! Better if you can, is to increase the mortgage on your bricks and mortar home and use that to buy the boat. I did this with my first non-dinghy boat (a sailing cruiser) as the interest rate was much lower than a loan for a boat purchase,. I didn't have the "international" problem that the OP was asking about, but it still seemed the better way to get cash to buy the boat. Good luck with your venture anyway.

Peter

Please Log in to join the conversation.

Barge Financing? 11 Oct 2021 07:59 #126235

  • Ian McCauley
  • Ian McCauley's Avatar
  • Online
  • In Australia 'till May
  • Posts: 590
  • Thank you received: 234
Hi Chris,

Welcome to the Forum!

Congratulations on searching out and finding a thread relevant to your question. Excellent approach! However, this is a pretty old one and I don't believe Elizabeth is still a member. Still, someone around now may be able to help but, if you could expand a bit on your current situation, it may help others in responding.

Ian
Lisette & Ian
Catharina Elisabet.

Please Log in to join the conversation.

Ian & Lisette McCauley
Register: Catharina Elisabeth
Blog: Eurmacs
Website: WaterwaysTourist
"There are only 10 types of people in the world: those who understand binary, and those who don't."

Barge Financing? 10 Oct 2021 23:12 #126234

  • Christopher Monti
  • Christopher Monti's Avatar
  • Online
  • Posts: 3
  • Thank you received: 0
Hi Elizabeth,

Did you ever get a response to your question about barge financing in France? Perhaps we can help one another on this thread. - thanks, Chris

Please Log in to join the conversation.

Barge Financing? 16 Nov 2010 16:50 #23065

  • John Booker
  • John Booker's Avatar
  • Online
  • Posts: 162
  • Thank you received: 47


Hello Betty

I arrange all sorts of commercial finance over here but I don't know of a
lender who would lend to you. Based on the fact that your income would be in
US Dollars, from the US, and that you would have no fixed address here, I
think you would be advised to get a loan in the US that is not secured on
the barge and bring the cash over. At least you wouldn't be taking an
exchange rate risk as well then.
--
View this message in context: dba-the-barge-association.222578.n4.nabble.com/Barge-Financing-tp3044967p3045070.html

Please Log in to join the conversation.

Barge Financing? 16 Nov 2010 15:37 #23062

  • Elizabeth Calhoun
  • Elizabeth Calhoun's Avatar Topic Author
  • Online
  • Posts: 4
  • Thank you received: 0


We are US citizens, looking for financing for a barge purchase in France. We have a great credit rating, but our hometown US bank won't lend on a boat purchased and moored/ used overseas (though they freely admit we could buy a boat in the US, they would lend us money to do that, and then we could sail in across the pond....). If anyone has found an international US-based, French-based or NNL-based bank that might finance, we'd love to know about it!

Thanks!

Please Log in to join the conversation.

  • Page:
  • 1
Moderators: Bob MarslandPete Milne
Time to create page: 0.147 seconds