Once you decide to buy a boat, you’ll be faced with the decision on how you are going to pay for it. This type of purchase will involve some type of financing, whether it’s a credit line through the home, an unsecured loan, or a boat loan. Choosing the right financing source can be just as important as choosing the right boat and therefore it’s certainly worth obtaining a pre-approval for your loan. That way, you are in a better bargaining position when you find the boat you really want and avoid losing the opportunity presented to you.
When choosing a source of financing, there are several things to consider. The first factor is how long you plan to keep the boat. If you are buying a first boat, it’ll make more sense to find a loan that will be flexible enough to accommodate an early payout with significant exit costs.
If you are purchasing the boat of your dreams, you should expect to have it financed for a long time which makes it important to get a fixed rate loan with terms that allow for a low monthly payment. Make sure you know exactly what you are signing up for so there are no nasty surprises further down the line.
Choosing the right type of boat loan is a very important part of the entire buying process. You can start with an experienced boat finance brokerage such as us at Finlease, and we will show you how each one of the available options fit into your profile.
Doing this will give you the knowledge and ability you need to find the loan that best fits you and your budget. Then, you can concentrate on the important things – taking your new boat out on the water.
Unlike the big banks, at Finlease we are not only boat enthusiasts ourselves, we also take the time to visit you, understand your situation and assist you in selecting the right financing solution. If you are not satisfied with our solution, simply walk away with no cost. We are delighted to seek approvals as over 85% of them are taken up by clients!
Don’t just take our word for it though, visit product review at http://www.productreview.com.au/p/finlease.html and see what our clients have to say about us!
To speak to one of our Pleasure Boat loan experts call 1800 358 658 now!