Boating is an excellent way to get the most out of your time in the sun. Boat loans make it possible for normal families to enjoy the experience for themselves. If you take the right precautions, you'll get the best loan value for your hard earned dollars.
Recent times have seen a significant rise in the willingness of lenders to extend credit for the purchase of boats large and small as well as other watercraft vessels. You don’t even have to have top bullet-proof credit in order to obtain these once elusive loans.
The Low Down on Interest Rates
Here are a few things you can do to make sure the interest rate for your boat loans are as low as possible.
Repair Your Credit
There are many ways you can go about improving your credit-worthiness so that banks are far more likely to view you as an acceptable borrower for a boat loan. There are credit repair services that can assist. However, you can do a lot on your own without pay for that service by;
- Paying utility bills on-time every time
- Cleaning up delinquent credit accounts
- Paying off any outstanding debts
- Obtaining your credit report and dispute any false or inaccurate information on your report.
Shop Around for Lower Rates
There are many lenders out there competing for your business when it comes to boat loans. You need to do your level best to make sure that the boat loans you consider are the ones that are in your best interests and not the best interest of the banks and lenders involved.
Here at 1800Approved, we compare a panel of over 40 lenders on your behalf - We work for you, not the banks !
Our Finance Brokers specialising in Boat Finance can do the shopping around for you.
Your broker is a good source for information on which lenders will be more “boat friendly' and which ones offer you the lower interest rates.
It’s almost always best to go with a trustworthy broker that compares your options rather than trying to navigate through the murky waters of being approved for a boat loan.
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1800Approved is an award winning finance broker - Australia's Broker of the Year for 2016 ! We have helped tens of thousands own their dream boat. Let us help you find the best boat finance rates in Australia today. Call us at 1800 277 768. No obligation.