financing your investment
TRANSCRIPT
Baja Marine Cabo - Yacht Sales & Service Presentation By Niccole Lee
Most banks require 10 to 15 percent down on
a boat purchase, and interest rates on
personal loans vary depending on your credit
history. So shop around and see what kind
of rate is best for your budget.
This is a great option for home owners
because you can deduct the interest you
pay on a home equity loan from your
federal taxes in the United States. This
will only work if you have a lot of equity.
If not then this may not be the best option
for you.
Many yacht buyers prefer to pay with cash up
front. There’s no hassle with paperwork and
no worries about your credit history.
Although yacht brokers still require a 10 to 15
percent down payment when utilizing their
services, just like buying a house.
This option is good for buyers
wanting to establish good credit, or
work on improving their credit scores.
But the interest rates maybe high. So
when dealing with any kind of credit
then shop around for the best rate.
Whether it’s a boat broker or dealer,
don’t be afraid to ask about financing
options. Most of them are
thoroughly experienced at setting up
financing, especially if you have
good credit. Plus, the broker/dealer
does all the work for you.
