How To Negotiate The Price Of A Yacht
Find out how to negotiate the price of a yacht so you can take charge of the sales process. When you are buying a high-end luxury item like a yacht, it can be hard to tell if the seller is motivated enough to give you a good deal. You will probably have to haggle on the price until the seller makes you an acceptable offer. If you are financing the yacht purchase, get in touch with your lender and find out the loan terms. The length of your loan may depend on the price of a yacht you end up buying.
- If you intend to take out a loan for your yacht purchase, contact a lender. Ask the lender what they require you to put down on the yacht loan in order for them to be able to finance it. Find out the interest rate and length of the loan, to make sure you are able to afford the monthly payment.
- Contact the yacht seller, and arrange a time to meet. Before you start to negotiate the price of a yacht, see if the seller will take you for a sail. Inspect the yacht thoroughly, and make some mental notes on areas you think you can highlight when you begin to negotiate. For example, if some of the rigging seems substandard, you can mention that when you haggle the purchase price.
- If you decide you like the yacht, make an offer. The price of a yacht can have a wide range depending on market conditions. If you are able to find a valuation for the yacht, your opening offer should be near the low end of the range.
- The seller will probably make a counteroffer. How hard you negotiate the price of a yacht depends on the read you have on the seller. If their counteroffer was not very far from your opening price, you are close to a deal. If the seller reacted casually to your offer, and then countered with a price that is thousands of dollars higher, you may have a seller that is not going to move very far off of their price.
- Make another bid that is lower than the seller’s offer. If they counter again, you will have to decide if the price is acceptable. If the seller agrees to your price, close the sale by completing the proper paperwork
- Give the sales paperwork to your lender. Tell them you agreed on the price of a yacht, and you want to finalize the financing. They will valuate the yacht and let you know the exact amount you have to put down on the loan. Ask the seller to be present at the closing, so your lender can give them a check directly.