Tips to Qualify for Boat Finance

Without prior experience, financing your boat can be an intimidating process, you need to do your homework and get many quotes for different interest rates, loan repayments and make sure that your boat loan has the best terms and conditions in-line with your credit score. There are many banks offering Boat Finance in the market today and there are many pitfalls to watch out for so you don’t end up with a loan that you can’t afford long term.

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As with any loan, you will need to qualify for the loan before having your pre-approval set in place. It is important to have someone on your side to help you understand all of the details about the loan before you hit the go button on your finance. By completing our fast online application you will be well on your way to having your boat finance set in place ready for you to go shopping for your next dream boat. Have you made a decision on what size boat will suit your needs? Is your boat purchase for business or pleasure?  No matter if you are looking for a week-end runabout or you are looking at running a fishing charter business, we have a boat loan specialist online and on the phone to help you every step of the way.

Qualify for the Boat Financing

  • If you want to qualify for boat financing, it is important to understand what your current credit report says about you. With your permission, we can arrange free of charge to have your up to date Credit File details sent through so we can help you put together the best application to wet the appetite of one of our many boat lenders.
  • Availability of all important documents related to the current debts can make your job easier. Information regarding our current or previous debts and payment history can help us build a great picture for the lender.
  • Documents supporting your proof of income and identification will also need to be supplied throughout the process.  If you are employed by a company, you can submit payslips; if you are self-employed you may need to supply your most recent personal tax assessment along with other business related income documents from your accountant.

Ask4Finance offers an online loan calculator to help you work out your approximate repayment.  To apply for your boat finance, complete our online application in minutes and get ready to have your own boat for this summer.

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