Buying a boat
Buying a boat is an exciting adventure, and we want to make sure you're fully prepared. Here's our guide to help you navigate the process smoothly.
How to buy a boat, from budget to completion
Budget
You've decided to buy a boat! First, consider your budget. How much can you pay upfront, and what can you afford monthly? Download the SALT app and use our calculator to find a comfortable purchase price. Remember to include running costs like insurance, maintenance and moorings.
Find the perfect boat
Consider your needs: new or used, size, and where it will be berthed. Use resources like boat shows, chartering and expert advice to help you decide. Follow us on social media to stay updated on events and shows.
Negotiate a good price
Research prices on sites like Boats.com and TheYachtMarket.com — and browse hundreds of boats with monthly prices up front on our sister site, Boats on Finance. Ask about warranties, after-sales support and included equipment. Review and understand the Sales Agreement, and consider having a marine lawyer review it. SALT can introduce you to trusted partners.
Arrange finance
Complete the application on your phone for a fast credit decision using SALT's Open Banking technology. Our variable-rate loans track the Bank of England base rate, with no early repayment charges or arrangement fees. SALT will guide you through the next steps, all accessible via the app.
Arrange a survey and sea trial
For used boats, commission a pre-purchase Survey & Valuation so you know the boat's condition. Consider a sea trial, much like a test drive. SALT works with professional bodies like the YDSA and IIMS for surveys.
Protect your dream boat
Ensure you have specialist boat insurance. Upload your policy through the SALT app for review. Contact our team for help with insurance.
Find your new boat a home
Decide on a marina or storage location, considering accessibility, services and costs. SALT can help you find the perfect home for your boat.
Confirm title documents
Receive all the correct Title Documents to register your boat and prove ownership. SALT reviews and validates all documentation, storing it in the app for easy access.
Boat registration
For trips abroad, or loans over £150,000, your boat needs to be fully Part 1 Registered with the MCA. SALT handles registration details through the app.
Completion
Finalise your purchase and take ownership of your new boat. Use the SALT app to set the completion date and access all your documents. Our team is always available to answer your questions via webchat, or in our support and FAQs.
Everything you need to know, in one PDF
We've created a comprehensive PDF guide to help you understand every step of the process. This guide is packed with valuable insights, practical tips, and essential information that will empower you to make informed decisions and enjoy your boating experience to the fullest.
- ✓ Insider knowledge from industry experts
- ✓ Clear, actionable steps to simplify your journey
- ✓ Financing, insurance, VAT and boat registration explained
- ✓ Be prepared — enjoy your new boat without the stress
Ready to set sail on your boat buying journey?
Get started and download the SALT app today — the easiest way to manage and apply for boat finance.
Rather talk it through? We're digital first, but we're real people — call us on 0333 090 2368.
Finance available for UK residents aged 18 and over. Your boat will provide security for this loan. Your boat may be repossessed if you do not keep up repayments on your loan.
