What is Boat Finance?
This refers to a financial arrangement where you get a lender to provide a boat's cost price. Usually, this is the total price. However, you can obtain a boat loan for a part of the cost of the boat. Afterwards, you proceed to make the vehicle's purchase and own it without paying from your pocket. Then, you commit to making a repayment of the sum to the lender over a while. You will also need to pay interest on the sum as the reward to the lender. Then, once you complete the repayment of the borrowed sum plus interest, the finance agreement comes to an end. A wide range of finance brokers provides these services. For instance, there is the popular Jade Boat Loans, Ratecity, and ANZ. You can always reach out to any of these institutions to provide boat finance to you.
Why Boat Finance?
Boat finance has become more attractive to most people looking to buy a boat. This is thanks to the significant advantages that come with it. They include:
This is a tool that allows you to determine your repayment obligation under a loan agreement. Usually, obtaining a loan comes with uncertainty. You might be unable to determine if you can make repayment or not. In turn, you might be reluctant to get into the agreement. However, with the calculator, you can gain clarity.
All you’ll need to do is provide the details of the arrangement into the tool. Then, you get an estimated value. The details you’ll need to provide include:
- The amount you want to loan
- The repayment scheme
- The repayment duration
- The interest rate
- Other terms such as balloon payment
So, if you’re interested in any of these options, you can reach out to any of our partners for more information. They will be ready to answer all your questions, consult with you and determine the appropriate loaning option for you.