Boat Loans and Boat Finance

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Boat Loans and Boat Finance
Financing your next boat is a very important process, as you want to choose a finance package most suitable to you. There can be many things to check including
� Boat loan interest rate
� Fees and charges
� Break fees if you paid it out earlier
� Can you pay extra payments
� Time it will take to approve and settle your boat loan
� Does the boat finance company suit your criteria to approve the finance

You can have unsecured or secured boat finance which can affect the cost of your loan.

It can be a requirement of the boat finance company to have fully comprehensive insurance on your boat before purchase and while you pay off your boat loan.

Finance companies can assist to ensure you have a hassle free boat purchase and help with
� Encumbrance checks to ensure that there are not any outstanding loans from the prior owner left against the boat.
� Title check or confirming the ownership of the boat you are purchasing.
� Clear transfer to seller of the amount financed on the boat purchase. .
Boat loans, subject to the finance company�s approval can be financed to the full cost of the purchase including
� On-road costs and taxes.
� Boat Insurance
� Marine breakdown warranties
� Loan protection for death, disability and unemployment.
Older boats can be ok. Boat finance can apply for all ages new and used depending on the boat loan lender.
Finance structures can be flexible to suit your circumstance. Options to consider on your boat loan could be
� Delayed payment boat loans so you first payment starts at a extended time into your finance contract
� Interest only payment options including balloon payments.
� Extended finance terms
� Structured boat finance payments to suit your life style or your work cash flow
� Construction boat loans
There are many marine finance options available for imported boats.
Commercial boat finance options are available that could be suitable for business use. Some factors to consider that relate to business car financing are:
� Chattel mortgage boat finance
� Commercial hire purchase
� Boat lease

About the Author

Richard Jefferies has worked in the finance and lending market for over 10 years and is owner of Finance Ezi, a sucessful asset based finance broker operating Australia wide. Finance Ezi currently organises over 20 million a month in asset based finance and property finance including boat loans. He has over fifteen years experience in the finance and automotive industry.

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