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post #1 of 2 Old 01-06-2002 Thread Starter
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Deposit

I''ve just been asked to pay 15% of base boat price (and shipping), plus 100% of all options as up front deposit on a new yacht. Incidentally, it will take 11 months from order to delivery. Seems like a rip off to me. Anyone disagree?
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post #2 of 2 Old 01-07-2002
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Deposit

That is not unusual. The deposit on a new yacht seems to vary from 10% ro 25% plus 100% of all add ons. Traditionally, you paid 10% plus options up front and then there were a number of progress payments as the boat progressed. You would get a picture and a bill when the hull was laid up and another when the interior was finished and so on. By the time the boat was ready to ship you had typically paid close to 75%. At some point that system went away and the amount of the deposit went up. Its not a rip off because all that the boat manufacturer is asking you to do is subsidize some of the costs of ''carrying the boat'' during construction. It also protects them if you bail out of the deal by leaving them with enough cusshion that they can still floor plan the boat and sell it at a discount and not be upside down.

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