Get Your Feet Wet with Marine Loans
Reasons for a marine loan.
Going to the beach is fun, but heading out to sea is a whole new realm of excitement. Going out to sea for a fishing trip, experiencing the ever-changing waves, and staring at the clear blue horizon are memorable for sure.
The only problem is, you need a vessel. Can’t quite go fishing out in the ocean while swimming, can you? Unless you’re volunteering as the bait.
Boats cost an arm and a leg, they’re not cheap. Beyond the upfront cost, there’s maintenance, fuel, and other continuous upkeep you have to pay for too. As it all piles on, it might feel like your dreams of going out to sea are crashing straight into an iceberg.
Why choose LoanOptions.
But don’t let them sink just yet! If you can’t pay for a shiny new boat upfront, then perhaps you could try taking out a loan for one. By getting Marine Financing, you can start hitting the high seas sooner than later, paying off the cost over time. It’s a big commitment, which one do you choose?
LoanOptions’ AI-powered loan comparison tool is here to help get you sailing smoothly. Looking through 60+ lenders for you, including the big banks and private lenders, our tool will show you all your financing options before you know it. Save time and effort with LoanOptions so you can devote your energy and free time on your new hobby instead!
Get back to doing the things you love, like jet-skiing, windsurfing, or whatever floats your boat.
There’s as many types of marine vessel loans as there are fish in the sea, so don’t hesitate to look through all of the options first.
LoanOptions can help find lenders to finance a large variety of aquatic vessels. Maybe you’re looking for a:
The ocean is full of fun, but also opportunity. Beyond recreational purposes, you can get financed for a boat for commercial purposes as well.
Fishing businesses that are looking to expand are always in need of fresh vessels. Beyond simply wanting more boats, there might be demand for a different type of ship to handle other fishing methods.
With commercial boats, there might be more leeway to lower the interest rate. As lenders know that the boat itself will be used to make the money back, they may consider the investment less risky. Furthermore, depreciation and other factors can be claimed as tax deductions!
A chattel mortgage for a boat pretty much works the same as a mortgage for a house. Upon approval, the lender provides enough funds to make the purchase in full, and you become the owner of the vessel. The lender then takes out a mortgage over the purchased vessel, with repossessing the boat as security. The interest rates on this type of loan are usually pretty competitive too. A ferry good deal!
If you’re ready to start your ocean adventure, LoanOptions can help you navigate the treacherous waters of the loan market. There be pirates among these seas…
With LoanOptions advanced loan comparison tool, you’ll never get caught off guard by loans with ambiguous wording or other deceitful practices again, as all information is laid out to you clearly without hassle. And if whatever loan you were going for doesn’t work out, simply turn back to us, and we’ve got the rest of a giant list waiting for you!
So hop on board! You’re under LoanOptions’ watch from now on.
We’ll tell you what you need to know, enquire with LoanOptions and take one step closer to getting your marine loan.
The devil is in the details, and it can be more than a pain if you do not read the fine print properly or if not all associated fees are brought to your attention as a borrower.
Ask yourself these questions:
Are there any entry or exit fees?
What are the late repayment fees?
Are there fees for paying your loan off early?
Are there any other added costs that could come up?