DOLLARS AND SENSE
Just as the boats you’re looking at come with many power and accessory options, there also are many more finance options available than you might have thought. In fact, choosing the right finance package can potentially make a pleasure boat more pleasurable… or can help a commercial or charter vessel be a better business proposition.
It’s a good idea to get your finance in place and obtain a pre-approval for your loan before you go shopping. It’s wise to submit an application for a hypothetical boat for a given sum of money and, once it’s approved, you can confidently negotiate on a boat knowing the finance is ready to go. This should be a completely obligation-free service, so if you eventually decide not to take up the finance, there’s no charge.
To get a feel for affordability, many boat listing websites offer interactive financial calculators to provide an indication of what the repayments on your loan would be.