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Credicom Consumer Finance supports the yacht market providing competitive financing products and high quality services
05.04.2011
At a time when the liquidity and the financing inability suffocate the market, Credicom Consumer Finance provides financing solutions to support the yacht market that has been suffering the past two years; and more specifically the market considering the vessels up to 100.000€ that were overlooked by banks.

All those who are interested in buying a boat, but even more the professionals of the specific area, will find interesting what Mr. Antonis Moschou, New Markets & Professional Services Director is outlining in his interview.

What is the main area of activity for Credicom Consumer Finance? How is the company developing?

“Credicom Consumer Finance Bank specializes in Consumer Credit, as member of Crédit Agricole Consumer Finance Group that holds a leading position in Europe and is supported by the financial solvency of Crédit Agricole Group.

We provide a wide range of products and services in consumer credit, either through commercial businesses or through direct provision of personal loans and credit cards to the final consumer. Most of our products cover the need for purchasing household equipment, cars, and leisure boats but yet more specialized needs such as photovoltaic systems and energy upgrading solutions.

Until today, we have achieved a leading position in point of sale purchasing in the car sector and a significant market share in household equipment financing, with strong centralized collaborations.

In summer 2010, within the framework of expanding our activities in the leisure boat market, we started collaborating with Entaman YachtFin Experts in order to launch a specialized financing product for the purchase of leisure boats.”

Is it long since you started financing leisure boats purchase?

“Although the leisure boats market is a relatively new market for us, we aim to develop in it by utilizing our longtime experience and know-how and of course through the creation of strategic alliances with specialized partners. Entaman Yachtfin Experts is a company with significant know-how and sufficient penetration in the specific field. The initial response of our customers proves that our financing solutions cover their needs and that they are based on today’s financial circumstances. Our know-how and expertise allow us to minimize the risk for the Bank, as well as for the buyer.”

Do you focus on specific boat categories?

“We finance all kind of boats, sailing and engine boats, inflatable and polyester boats, as well as jet-skies.
In this first phase and in order to develop gradually in the leisure boat market, we have focused on low cost boats. The maximum financing amounts to €100K and covers up to 70% of the boat’s value. Following the initial evaluation, we will review the possibility of expanding these limits.”

Do you see a new trend in the consumers’ preferences?

“We find that the market receives big pressure towards the reduction of numbers and the shifting of the action to lower price categories.

We, however, believe that the market will come to a balance again as we observe that the core groups of people are willing to support and invest on it, either on a personal or on a professional level. I refer to people covering a full spectrum of sea activities that know and love what they do and have plenty to offer in the specific sector as well as in the economy overall.”

What are the advantages of Credicom Consumer Finance;

“We have swift and upgraded processes for the approval and payment of the financing, using the internet and the telephone as the main tools to service our customers.

Also, we provide specialized products to cover consumer needs, while our longtime presence in Consumer Credit reduces the risk of bad debts for us, as well as for the customer.

Specifically as per the purchase of leisure boats, our collaboration with Entaman Yachtfin ensures a comparative knowledge of the market, prompt quality service and optimum after sale service from the specialized Customer Care Department of Credicom.”

How do you differentiate from competition?

“The indisputable competitive advantage of Credicom Consumer Finance is the combination of know-how, expertise, capital sufficiency and financial solvency of the parent company Crédit Agricole Consumer Finance, one of today’s leading European powers in consumer credit, with presence in 22 countries. This competitive advantage is combined with a deep knowledge of the local market since 2003, making us a trustworthy collaborator for the final customer as well as for our suppliers and collaborators, despite the present financial situation.

We finance leisure boats by providing products that have competitive pricing and high level services.

Our structure and operation is based on the utilization of our partners’ resources. Not being constraint by an uncompromising and expensive branch network but with flexible representatives’ offices, we have the means to approach our customers instead of them coming to us.”

Which do you think is the future of Consumer Credit in the boats market?

“Consumer Credit in Greece entered a maturity phase, since 2010, after a decade of rise and welfare, which in many cases was fictitious. Consumer Credit will continue to support consumption with new more mature characteristics such as accountability and long-term vision, as the new financial conditions require.

When a market is healthy, most probably so will be its financing tools. In Credicom Consumer Finance we decided to invest in the leisure boats market because we believe in the overall maturity phase of Consumer Credit and also in the potential of the sea tourism and leisure boat sector. We base this conviction on the fact that our country has characteristics that favor the development of these sectors and that remain considerably unexploited until today.”

Where can you be found if someone is interested in the financing of a purchase?

“As mentioned already, on leisure boats we collaborate with Entaman Yachtfin, a company with a 20year experience in leisure boats financing. Your readers could find more information on the products and the financing options we provide at 210 331 7281, www.ey-experts.gr.

Also, for further information on Credicom Consumer Finance products, you may contact: 801 11 96 600, 210 93 96 600, www.credicom.gr”