Following the recent announcement of YATCO’s partnership with Vantage Yacht Finance, YATCO sat down with President Mike Harbaugh and Senior Vice President, Dana Endicott to learn more about the company’s offerings, ethos and what you need to know before you secure your next boat or yacht loan.
Bridging the Gap in Yacht Financing
Formed in 2012, Vantage had a singular mission – to simplify and elevate the experience of securing boat, RV, and yacht financing. Since its inception, their team recognized a need for a more customer-centric approach in an industry often plagued by complexity, delays, and limited transparency. The boating world thrives on passion and adventure – the financing process should reflect that same enthusiasm.
Vantage was launched with the vision of becoming a trusted partner to buyers, providing not only the funds to fulfill their dreams but also the confidence and clarity they need to enjoy their purchase fully. Endicott elaborates, “the team can advise on which warranty and protection products make sense based on the purchase and help every client discover what is right for them, creating a bespoke experience, not a one size fits all.”
Identifying the Market Gaps
When reviewing the market, Vantage noticed a few keep missing links:
- Limited Personalization: Buyers often felt like just another number in the financing process. There was little effort to tailor solutions to meet individual needs. It was a challenge to get a human to talk to you.
- Inefficient Processes: The traditional loan process was riddled with inefficiencies, resulting in longer-than-necessary timelines.
- Knowledge Disparity: Many buyers lacked clarity on what to expect, leading to uncertainty and stress. Communication seemed limited or non-existent.
The opportunity lay in addressing these issues head-on with a service model built around the customer’s experience.
The “Vantage” Advantage
Vantage combines industry-leading knowledge, unparalleled customer service, and a streamlined, technology-forward process to create a stress-free experience for clients. From financing a small boat to a luxury yacht, the team is able to provide clarity, confidence, and efficiency.
There are a few core items the Vantage team stands by:
- Tailored Financing Solutions: Understanding every buyer’s needs are unique and working closely with clients to create customized financing options that align with their budget and lifestyle.
- Expert Guidance: With deep expertise in recreational lending and yacht financing, the Vantage team provides transparent advice every step of the way, empowering buyers to make informed decisions.
- Seamless Execution: From application to approval, clients can expect a smooth and efficient process, ensuring clients can reach their ultimate goal – to get out on the water as quickly as possible.
If you’re in the market to buy, Endicott urges prospective buyers to start looking now.
“If I could share one piece of advice, it would be to start the financing conversation early. Before you begin boat shopping, take time to understand your financial position and explore pre-approval options. This not only streamlines the purchase process but also gives you a clear understanding of your budget, enabling you to focus on finding the perfect vessel without second-guessing affordability.”
