How Boat Loans Can Help You
Obtaining boat loans can mean the difference between being able to buy the boat you’ve always wanted and not being able to afford it. Some people hesitate, though, in taking out boat loans because they’re afraid they won’t qualify or they don’t even know they exist.Fortunately, it’s easy to get quick answers about boat loans and your situation. If buying a boat has been a dream of yours for a long time, you can get more information about the type of boat loans you can get by using a boat loan calculator.
Boat Loans Make Your Boat Affordable
More than anything else, boat loans help you because they make your boat affordable. If you have money for a boat that’s smaller and has less features than what you’d really like to buy, getting boat loans can help...
Paying for Your Boat
Pros and cons of paying cash or a boat loan
Buying a boat is a major decision for most people. Even a small dinghy, sailboat or trailer boat can represents a significant purchase. So when the time comes, the other big decision you have to make, besides which boat you will buy, is how you are going to pay for it.
Careful Consideration
While every individual’s financial situation is different and you should take into account your personal financial position both now and in the future, there are some general considerations which may assist you in your decision.
In times long gone, the trend was definitely to work hard and save for your luxury and major purchases. But in the current environment, with a sophisticated global financial industry, financing major...
Boat loans for ‘long delivery’ vessels
While there is a great selection of new boats readily available in the dealer ‘showroom’ and on the water, many models are custom-built or fitted to suit specific customer specifications. Most high-end, luxury models have to be ordered in advance with varying delivery waiting times.
Even in the lower and mid-range categories, you may be offered a custom fit-out for the interior or for selected engine and electronic component. Processes which may take weeks, months or for the ultimate luxury or commercial vessels, years
So how do you arrange finance for a boat that you won’t be taking delivery of for some time?
You will no doubt want the assurance that the finance or boat loan is secure before you place the order. The boat builder will also want...
Deal with a broker, or broker with a dealer
When it comes to buying perhaps the boat of your dreams, most people will need assistance with finance. If this is the first time you’ve required a boat loan, you may not know where to go for finance and if you’ve taken out boat finance before, you may be considering your options.
Perhaps you approached your bank to be advised that they don’t handle marine finance and the best they could offer would be a high interest personal loan.
Many boat dealerships, new and used, small up to luxury, power and sail, offer customers finance services in addition to the boat sale. But should you take out finance from through the same dealer or boat builder as you purchasing from?
An attractive and beneficial choice for a great boat finance package is a...
Overview of boat warranties
Warranty, guarantee, our promise – these terms often appear in advertising and marketing for a range of products. Often this hype may give the buyer the impression that they are being offered something special, an additional extra with the purchase. So what how do you separate the hype from the actual help in a boat warranty or guarantee? We’ve prepared this overview with information from government and reputable sources to put perspective on your boat purchase.
Boat Warranty v Guarantee
For starters, a warranty is a type of guarantee but is separate from a consumer guarantee. A warranty is essentially defined as a voluntary promise made, usually in writing, by either the manufacturer or seller or both. A warranty is a promise to replace or repair...