CGI Finance launches the Libersea offer
Société Générale's leasing subsidiary, CGI Finance, is launching a new product dedicated to pleasure boating. The Libersea offer, proposed with partner motorboat brands, is a LOA (Lease with Purchase Option) system with a buy-back commitment by the dealer in 3, 4 or 5 years. The buyback 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, worth less than 100,000 euros, with the brands Yamaha, Mercury and Suzuki.
Reduce boat rents
CGI Finance's first objective is to reach new customers with lower rates, inspired by its activity in the automobile industry. "Today, the offer in the boating industry is made on terms of 10 to 15 years, but 60% of boaters sell their LOA before the end, often to change boats with the same dealer or with another one. We were inspired by the behavior of the automobile industry by reducing the duration and with Libersea, we can reduce monthly payments by 30 to 40%," says Eddy Pazalja, director of the boat business at CGI Finance.
Reach new boaters and rejuvenate boat fleets
The financier sees in Libersea a converging interest for boaters and boat sellers. "We can reach first-time buyers who don't have 600 to 700 euros a month to spend on a boat. On his side, the dealer benefits from a more modern fleet of used boats. The second-hand buyer can keep the VAT rebate and the maintenance included in Libersea is a guarantee of good condition of the boat he buys. The boat can thus have 3 to 4 lives with successive owners" summarizes Eddy Pazalja.
An offer that will affect all powerboats
"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 engine. The dematerialized contract, with an electronic signature, would be signed directly in the dealership. This is not a dream, as it already exists in the automotive industry" concludes Eddy Pazalja.
