Use Your Vessel as Collateral with a Secured Boat Loan
If you want to easily acquire secured boat finance, simply come to Easy! We make it quick and achievable for boaties to purchase marine vessels by allowing them to offer the boat itself as collateral for the loan using a secured finance format.
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During the assessment process, the lender will determine if the boat alone will be enough security for the loan or if additional collateral needs to be provided. If the boat is accepted as the sole collateral, the buyer will not need to offer any other assets to secure the loan. When buyers take on this process alone, it can be complicated. But when they approach our expert team at Easy Boat Loans, every step is taken care of. This is a major drawcard for people in the market for a secured loan because it can mean the difference between approval and rejection of a loan application.
Once collateral has been accepted as sufficient for the loan, our highly skilled brokers will negotiate with the lender to achieve a highly competitive interest rate and loan term based on an applicant’s financial and personal information. For secured boat loans, rates and terms are fixed and offer a fixed monthly repayment schedule over a set time frame.
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Easy Access to Boat Ownership with a Secured Marine Loan
Straightforward and easily accessible – the two main characteristics of the secured boat financing process when applicants come to Easy Boat Loans.
When we submit an individual’s application for secured boat credit, details of the boat being purchased are required. The type, make, model, age, accessories, variants, and any other relevant information needs to be submitted. Why? When a lender assesses a boat for security on the loan, its value needs to align with the amount of funding being provided. If the value aligns, approval of the loan is relatively straightforward.
To discuss the suitability of the boat intending to be purchased, and whether a secured boat loan is going to be right for you, give our highly knowledgeable team a call.
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