Boat Finance Made Easy with Natloans
2010
Buying a boat can be an exciting experience. However, before you hit those Boat Dealerships, you need to make some careful consideration on how you will finance it.
Natloans has been financing boats for their clients for nearly 10 years. A vast majority of our savvy buyers arrange Pre-Approval of the money first before they commit to a boat purchase. That way, they have peace of mind that they can obtain the finance and concentrate on negotiating price with the dealers. Since the Global Financial Crisis, the marine industry was hit hard. There are many opportunities to pick up bargains as dealers are desperate to move stock.
According to Mary Nebotakis from Natloans, the main product used for financing a boat is a Personal Secured Loan. This means the boat is used as security against the loan.
Following are some of the features of a Secured Boat Loan:
- Finance terms – range from 1 year to 5 years.
- Fixed repayments allow for your budgeting needs and protect you against interest rate fluctuations.
- A deposit is generally not required but is desirable as this minimizes the lenders exposure to the asset. A condition of approval could be up to 25% deposit, so make sure you have some savings behind you.
- If your boat is to be used for business purposes you may qualify to claim part of the interest and depreciation as a tax deduction.
- Equity in your marine purchase can be increased, by making additional payments without penalty.
- Direct debiting of your monthly repayments can be arranged.
- “Low Doc” Secured Boat Loans are available for Self Employed clients
Natloans will take the work out of applying for a loan. You may apply directly to us either over the phone on 1300 955 791 or online at www.natloans.com.au. Natloans can also assist in insurance needs for boats as well.
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