Eliminate Delays with Fast Access to Used Boat Financing
Navigate the used boat financing market quickly and easily by engaging our expert brokers at Easy Boat Loans. We have an enviable reputation for securing extremely competitive rates and terms for each borrower that comes our way.
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Your Second-Hand Boat Financing Options and Availability
Used boat financing allows more buyers into the boat purchasing market. It provides greater accessibility for boaties who find new boat pricing beyond their budget.
Just like it sounds, used boat financing refers to credit for buying pre-owned boats, and provides a range of extra benefits like access to additional models and lower prices.
When it comes to financing new and pre-owned boats, the main difference is the amount of attention lenders put on assessing individual vessels. During the application process, the condition, age, and specific aspects of a used boat are crucial in determining how much funding will be provided, the terms under which funding is provided, or whether the application will be accepted at all. While new boats are generally accepted as collateral for financing, lenders conduct more thorough assessments on second-hand boats to determine their suitability for secured financing.
Secured and Unsecured Used Boat Loan
If a used boat is deemed acceptable for collateral by a lender, a secured loan can be obtained. Conversely, if a used boat is not deemed suitable for collateral by a lender, the borrower will need to apply for an unsecured loan instead. When preparing offers for loan rates, lenders will also assess the loan to value ratio for the vessel.
With such a vast marine lending market, lender guidelines can vary greatly. By using our brokers at Easy, finding the most suitable match for an applicant’s profile and intended boat purchase is an important step in securing the best possible used boat loan rates and terms.
Our access to over 80 banks and lenders means we’re able to provide access to specialists in the marine financing sector who can provide the best rates on the market. To get the best available financing for your used boat loan, connect with us online or call our office.
Secured and unsecured used boat loans
Access to more makes and models
Better rates and more favourable terms
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