Buying a Repossessed Boat
Most people would expect to find good deals on repossessed boats and in some cases they are right. There are a few things to note however when purchasing a repossessed boat. Although some repossessed boats are sold through dealerships, most units are sold at boat auctions. Read the rest of this entry »
Financing Your Boat
One thing to consider with a non-current boat purchase is the financing. If you are planning to finance, the lenders will base the amount financed off the wholesale or trade in value from one of the used boat guides such as NADA. This will undoubtedly translate to a higher percentage down payment. For example, instead of 10% down you can expect 20% or more for the down payment. You can use a boat loan calculator to check the impact on your monthly payment.
Where to Find Boat Deals and What to Know About Financing Them
Now is a fantastic time to buy almost anything. Home prices are down, car prices, electronics, even gas. If your looking for a” real deal” on something however, now is the time to pick up that boat you have been considering. The down economy has provided an excellent opportunity to buy a boat at fire sale prices. There are several good sources for both new and used units if you know what to look for.