Cando Boat Loans – Marine News - Boat Financing

Cando blogs supply useful on topic information, covering all aspects of marine lending. Boat loans information and articles relating to the finance products we offer. Call Australian company Cando Financial we provide excellent lending options

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Banks for older boats?

Financing older boats can be daunting. Some Australian banks treat older boats as greater financial risk. To banks risk equals a higher interest rate to you the client. But this scenario is not always true

Sometimes older boats are a better proposition that a new boat of the same make model and length. The reason behind this is the new boat has a new boat price tag. The boat dealer is making his profit on the vessel as are the suppliers add all the usual extra you buy with a new boat

Buying an Older Boat

So buying an older boat can actually save you a fair bit of money. Or purchasing privately will allow you get that bigger boat, larger motor or even pay less loan repayments than you were expecting. The less you spend financing your next boat or yacht the less you will have to payback each month or fortnight. CanDo Loans make this quick and easy, expect 10 minutes over the phone and instant approvals after a bank credit check

Banks Financing Rates

Banks that lend on older boat in Australia do not increase the rate if the boat is under 20 years old. Buying a boat over this age can increase the interest rate a little, depending on the vessel but this is not always the case. CanDo Financial provides old boat rates at under 8.5% TAP. Sometimes cheaper if we can organise a interest rate reduction. When negotiating your financing options with the bank or old boat lender