What types of boats do you finance?
Azura Capital specializes in the financing of marine vessels from yachts to sport boats and sailboats which are used for recreational purposes. We also have lending sources for high performance vessels, houseboats, limited charter vessels. Typically, our lenders will finance boats up to 20 model years old, however exceptions can be made depending on the type of boat you are financing.

Does Azura Capital have a minimum amount to finance?
Yes, the minimum to finance through Azura Capital lending sources is $10,000.

What rates and terms does Azura Capital’s lenders offer?
Rates and terms vary depending on several factors: the amount financed, age of the collateral, down payment, and most importantly, your credit history. Be wary of companies that quickly quote rates. These are rates that few will obtain and often require a high down payment, an A credit rating, and verification of income regardless of the amount financed.

How long is my rate "locked in" once I am approved?
Rates are locked-in for anywhere from 30-60 days depending on the lender. If the loan does not close during that period, Azura Capital will re-submit for loan re-approval and you will be subject to the rate at the time of loan closing.

Is the interest rate fixed and are there any prepayment penalties?
The loans we offer are simple interest fixed rate loans. This means that your interest rate will never change over the life of the loan and you only pay interest on your outstanding principle balance. Some of our lenders have minimal prepayment penalties while others have none. Once you are approved, your Azura Capital Loan Consultant will fully disclose this information to you.

What are the shortest and longest terms Azura Capital offers?
Terms vary between 60 months and 240 months

How much money will the lender require for a down payment?
Lenders typically require 10-20% down, however smaller down payments are possible depending on the finance amount and the buyer’s credit history. Your down payment can include any equity that you may have in a boat you are trading in for your new purchase.

Am I able to place the boat in a corporation or a trust?
Yes. These loans do require a personal guarantor and the lender will also require some documents regarding the corporation or the trust.

What information will Azura Capital request from me?
In addition to your loan application, Boat Test Finance will ask you about the type of boat you wish to buy, the amount of down payment you prefer to make, and the amount you want to finance. If you have a Purchase Agreement, we will ask you to fax it to us.

Will I have to provide verification of my income?
Only if the lender specifically requires it. Once again, this depends on your credit history, the collateral and the amount financed. If you are financing $250,000 or more, the lenders will require the following:

• Two years of Personal 1040 Tax Returns with all Schedules
• Two years of Personal 1040 Tax Returns with all Schedules Tax Returns including Schedule K1
• Personal Financial Statement

How do I get started?
You may submit a loan request online, by fax (800) 341-2777 or by phone (800) 430-0628. An Azura Capital Loan Consultant will contact you within 24 hours or the following business day regarding your loan request.

How long does it take to get approved?
Typically, you will have a lender decision within the same day. If you are applying for a larger loan that requires financials, it could take longer.

Once approved, how quickly can the loan close?
The loan will be closed within one week from approval. Your Azura Capital Loan Consultant will coordinate with your broker, dealer or seller to obtain all necessary documents associated with the closing. Once we have everything in hand to close, we can forward the loan documents to you via overnight delivery. If you are closing in the St. Petersburg area, we would be happy to close your loan in our office or possibly at your dealership or broker. Once all signed documents are back in our offices, we will be able to release funds for your boat.

Who handles the titling and registration?
Azura Capital can handle your titling and registration. One less thing for you to worry about!

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