Marine & Boat Finance
Boat and Marine Finance has two type of loans which are Secured and Unsecured which is used for personal use.
Secured Boat Loans- Most Boat Loans we settle for our customers are Secured.
The Financier takes the Boat as security and title is passed onto the customer when the final payment is made. Secured Loans for boats are generally at a lot lower interest rate than Unsecured. If you do trade the boat in or sell it before is Loan is paid in full, you must pay out the debt in full.
Unsecured Boat Loans- The other way to buy a Boat is to finance it with an Unsecured Loan.
An unsecured loan means that you can use the funds for any reason such as a holiday, renovations, debt consolidation and even cars ,boats or bike that do not fit the Secured Loan Product.
There is no security attached to this type of loan so Interest rates are higher than Secured Loans.
Finance Loan Calculator