Used boat financing in America is responsible for hundreds of thousands of boats sold every year. The popularity of all outdoor water sporting has never waned and the fact is it's grown. The standard banks and the online lenders all compete in the used boat financing industry. From L.A. to New Orleans to New York people flock to the lakes and and oceans with brand new boats and used boats alike. The passion of people who enjoy boating is still growing in leaps and bounds as the baby boomers invest in water toys. And some of the boats are spectacular friends.
Used boat financing is a challenge to secure if the bank can't see value in the used boat you want to buy. They will likely look at the year of the boat and it's condition and approach approval with straight mathematics. This is unfortunate because there some special boats out there that have been cared for to perfection and are very rare. The owners selling them know their value and so do the buyers. This is not a black and white case. There is some room for flexibility with some loan providers and these outfits will take a chance on used boat financing.
It is much easier to secure financing on a new boat than a used one. The majority of people tend to go for the new boat. The bank is easier to deal with and the new owner gets a brand spanking' new boat. Used boat financing will cost more in interest and it is only a worthy endeavor if the used boat is in really good shape and holds it's value. All pretty basic stuff right. Well it really is. If you did not want to read my simple minded ramblings and just came here to secure used boat financing just click the blue navigation button at the top of the screen or the link at the bottom of the page.
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