How To Finance Your New Boat

With summer just a few months away, now is a great time to start thinking about your new holiday boat.

Here are some things you need to organise to give yourself the best opportunity to secure a new boat.

Have your answers ready – You must outline your financial situation to a lender, including if you own a home, your credit status and your current income and expenses.

Obtain a pre-approval – Speak to a finance broker and start the process of getting pre-approved. This will allow you to know your budget and help you negotiate more effectively.

Consider the costs – When buying a boat there are other costs that you need to factor in on top of the purchase price. This includes things like servicing, fuel, and mooring.

New or used – It’s often possible to finance second-hand boats. This is a key consideration and something to discuss with your finance broker.