(Please note the minimum amount we refinance is $25,000.)
Refinancing your boat loan now can result in huge savings over the lifetime of your boat. SeaDream offers our customers numerous boat refinancing options that will lower the monthly payment and/or reduce the overall terms of the loan – thus freeing up cash that can be used to meet other financial commitments.
Refinancing your current loan by just one percent can save you thousands of dollars. The following example depicts how refinancing a boat loan can reduce your financial strain and save you money.
Remaining Term: 20 years
Original Interest Rate: 7.5%
Original Payment: $2,013.98
Refinanced Loand at Current Boat Loan Rates: 5.99%
New Payment: $1,789.64
Monthly Savings: $224.34
Annual Savings: $2,692.08
Total Savings $53,841.16
* Personal Financial Statements only required for loan requests in excess of $100,000