CGI Finance: "With Libersea, we reduce the rent of the boat by 30 to 40%."

CGI launches Libersea financing

Recreational boat financing specialist CGI Finance creates new offer with a short commitment period. Eddy Pazalja, Director of the Boat Business, explains the objective of the Libersea Formula for yachtsmen and its advantages for boat builders.

CGI Finance launches Libersea offer

Société Générale's leasing subsidiary, CGI Finance, is launching a new product dedicated to yachting. The Libersea offer, proposed with partner motorboat brands, is a LOA (Lease with Purchase Option) system with a 3, 4 or 5 year take-back commitment by the dealer. The buy-back is between 30 and 60% of the sale price. The monthly payments include engine maintenance, insurance and financing. The offer is limited to single-engine outboard units under ?100,000 with Yamaha, Mercury and Suzuki brands.

Reduce boat rentals

CGI Finance's primary objective is to reach new customers with lower rates, inspired by its automotive business. "Today, the offer in the boating sector is for periods of 10 to 15 years, but 60% of boaters sell their LOA before the end, often to change boats at the same or another dealer. We've taken our inspiration from the behaviour in the car industry by reducing the duration and with Libersea, we can reduce the monthly payments by 30 to 40%," says Eddy Pazalja, Director of Boat Business at CGI Finance.

Reaching new boaters and rejuvenating fleets

The financier sees Libersea as a converging interest for boaters and boat sellers. "We can reach first-time buyers who only have 600 to 700 euros a month to put in a boat. For its part, the dealer benefits from a more modern fleet of second-hand boats. The second-hand buyer can keep the VAT rebate and the maintenance included in Libersea is a guarantee of the good condition of the boat he buys. The boat can thus have 3 to 4 lives with successive owners" sums up Eddy Pazalja.

An offer that will affect all motor boats

"The version of Libersea presented is only the first step, targeted at small outboard boats to test the system. The ideal version within 2 years is that Libersea will be available for all powerboats, outboard and inboard, single or multi-powered. The dematerialized contract, with an electronic signature, would be signed directly at the dealership. It's not a dream because it already exists in the car" concludes Eddy Pazalja.