메뉴 건너뛰기

공지사항

Once you've made your decision to buy a boat the first thing that usually crosses your mind is, "How am I going to pay for it." The majority of purchases involve some level of boat financing, whether it's a credit line through the home, an unsecured loan, or a conventional boat loan. Choosing the right financing source can be as important as choosing the right boat.

There are several factors to take into consideration when choosing a boat finance source. The first might be to determine how long you intend on keeping the boat. If you are purchasing an entry level first boat, it will make sense to find a boat loan that will be flexible in the event of early payoff through a private party sale or trade-in. Conversely if you are purchasing the boat of you dreams and expect to have it for a long time it will be important to lock in at a fixed rate loan with terms that will allow the comfort of a low monthly payment. This will allow you to make sure the boat will always be affordable in future months.

Another factor to consider is the down payment. Most lenders would like to see ten percent down for a boat loan. However, zero down scenarios do exist for people with optimum credit profiles. Generally, the down payment does not significantly effect the monthly pontoon boat rentals near me loan payment. You may be more comfortable keeping the extra money in your account in exchange for a payment that is not significantly higher. However, there is one caveat to this approach. If you buy a boat with zero down, make minimum monthly payments and then decide to sell the boat soon thereafter, you may actually owe more than it is worth.

The recent combination of high property values and low interest rates has made home equity loans and credit lines a viable option for boat financing. This option can be particularly good for individuals with a challenged credit profile. These loans are based on the equity available in the home and can allow a person with poor credit to get affordable terms that otherwise would not be available. The drawback to these loans is that the home equity is now tied up in a boat purchase. Conventional boat loan rates are very low. A person who can qualify at agreeable terms is usually better off with a conventional boat loan. This will allow a person to keep the equity in the home for an emergency along with the ability to sell without encumbrances.

Choosing the right boat loan is an important step in the buying process. A good place to start is with a boat finance brokerage, for example website that can show you how each of the options will fit into your profile. This will give you the ability to find the loan that fits you best. Then you can concentrate on the important stuff like your first trip to the water.

Previous 1 2

About the Author:
Tom Schumacher is the president of SeaDream Inc. Boat Loans and Boat Insurance - website the West Coast leader in new and used boat loans, boat refinancing, and boat insurance. He as over 15 years of experience in the boat finance industry and is widely regarded as one of the industry experts on boat financing.
번호 제목 글쓴이 날짜 조회 수
51 When The Seas Of Life Get Stormy, Use These Tips To Ride The Waves To Run And Happiness VMDSommer40671614 2019.06.13 2
50 Sell Your House - 5 Tips To Successfully Sell Your Home CarlosBailey53992 2019.06.13 3
49 Great Ideas For Captain Jack Sparrow Costumes EtsukoClancy82115783 2019.06.13 3
48 The Innovative Remote Control UFO With Four Motors To Make You Fly High Now Is Your Chance To Experience The Thrill And Adventure Of A Real Flying With This Outdoor Toy Motor Remote Control UFO RuthieUaf4232700190 2019.06.13 3
47 Luxury Hotels Are Available In India At Affordable Price Rate Emory93V713371465359 2019.06.12 1
46 Live An Entirely New Lifestyle At Super Luxury Apartments DarrelNdc5480098748 2019.06.12 1
45 We All Associate Songs And Music With Events In Our Life MaryellenRetzlaff7 2019.06.12 3
44 Luxury Hotels Are Available In India At Affordable Price Rate Penni39L611826916657 2019.06.12 2
43 Top 20 Songs Of All Time FloridaQuinlan8 2019.06.12 3
42 How To Get A Website! DarlaMonzon0158 2019.06.12 2
41 Overview Of The Best Website Builder Online CedricSalier86465 2019.06.12 2
40 VPS Servers - Bitcoin Dedicated Servers MaximoBarnes9855257 2019.06.12 3
39 Overview Of The Best Website Builder Online ArlieP965062296198077 2019.06.12 3
38 Protecting Pontoon Boat Decks TBBYasmin033765 2019.06.11 3
» SO YOU'RE THINKING ABOUT FINANCING A BOAT... LatiaPettiford410 2019.06.11 3
36 Boat Anchoring WoodrowL27132468 2019.06.11 2
35 Boat Fishing Tips And Tricks SharonMooney0013517 2019.06.11 2
34 Boat Crew Wanted - Recruitment And Selection Of The Perfect Boat Crew ChelseaMuncy79728153 2019.06.11 3
33 Best Adirondack Lakefront Real Estate MauriceRss894363 2019.06.11 2
32 Father's Weekend Gifts Happen To Be Priceless ElsaCrittenden5242 2019.06.11 3
위로