If you are thinking of buying a boat either for commercial or recreational purposes but don’t have the capital to purchase one outright, you can still make the purchase. All you have to do is find the right boat financing, and we at Remanufactured Marine can help you do that. Securing funding for a boat purchase is not so different from getting a loan for a car. Although many people think it is a considerable expense that might be difficult to finance, it is not so in reality. In fact, if you can qualify for a car loan, you will most likely qualify for a boat loan too.
If you intend to get a boat loan, there are three ways by which you can do it.
- Secure a loan from your bank
- Let the boat dealer arrange the financing for you
- Get a loan from marine financing lender
Each of these methods has its advantages and disadvantages. For instance, going to your bank for loans could come with benefits such as tax benefits and low-interest rates, but the process can be complicated and tiring. The most advisable option is letting your boat dealer arrange the financing for you.
At Remanufactured Marine, we provide our clients with several financing options to let them live their dreams of cruising in their boats or improving their commercial boat business.
- Experienced Team: our staff includes mechanics, boat engineers, and financial experts who all work together when the time comes for you to secure a loan. The mechanics and engineers guide you on the best boat choice for you after listening to you and understanding your needs. They make recommendations on the type of boats to get, the engine, brand, and all other details based on the purpose you intend for it. The financial expert handles the whole process of finding suitable lenders, comparing the terms, explaining all the terms to you so you will understand their implications. Finally, they recommend the right lenders for you. The final decision is always yours, and their opinions and recommendations are without bias and based on facts.
- Fast Application Process: The whole application process can take a week once you have the right documents. The first thing we do is check your credit score to confirm you’re eligible for a loan; this is usually a routine check most times as our lenders are more concerned with your ability to repay the loans. Once this is done, we forward your application to our lending partners, and we receive offers from them. Each of the offers is thoroughly discussed with you by our financial experts, and the terms are explained in simple everyday language. Once you’ve decided on the offer you want, the rest is just paperwork.
- Relationship with Lender: Years of experience within the industry have helped us created a strong and mutually beneficial relationship with many lenders in the marine financing industry, including the major ones. We leverage these relationships to secure the best deals for you and work with the lenders to negotiate terms and structure repayment more favourably. This gives us an advantage over other dealerships and makes it better to arrange financing through us instead of doing it on your own.
- No Hidden Charges: Our relationship with the lenders is mutually beneficial and comes at no detriment to our customers. We ensure our clients are aware of the relationship, and no extra charges are added to the loan terms for that. The lenders pay us commission for each loan without overcharging the customer for such commission.
- Responsive Communication: At Remanufactured Marine, our goal is to satisfy your desires and help you actualise your goal, so we ensure that we start with mutual understanding. This is achieved through open communication where you express all your requirements and desires, and we also tell you our opinions and give unbiased recommendations. Our staff is trained to listen and pay attention to details, and we also encourage our clients to disclose all the necessary information as this will guide us to make the best decisions in their favour.
Who Can Apply for Boat Financing
Boat Financing is available for anyone who has a desire to own a boat. Whether it is for leisure or business, all you need is to have the right credit score, have the capacity to repay the loan, and have a boat you’re looking to buy.
What Type of Boat Can the Financing Be Used For?
The simple answer is all kinds of boats. Our lenders offer financing for all types of boats of all sizes and models, both new and used.
The financing options are flexible and make space for your financial position, so you don’t have to worry too much about repayment structure and other terms because you can always negotiate it.
Contact us today to get started.