Having a good grasp of the types of loans available, how the various elements of secured boat loans and commercial marine finance are structured makes it a lot easier to decide on the boat loan that works for you. Add to that our hints and tips on where to source boat loans and you’re even closer to achieving the cheapest boat finance.
Boat loans for individuals (consumer finance) differ from the types of boat finance available for business (commercial) buyers. The interest rates are usually lower for business finance than consumer loans. With consumer loans, you need to be considering the Comparison Interest Rates not just the advertised interest rate when comparing loans. Read more about interest rates for boat loans on our FINANCE page.
For private buyers, the choice is between secured boat loans and unsecured personal loans. For marine businesses, the range of commercial boat finance products include Boat Leasing, Chattel Mortgage and Commercial Hire Purchase (CHP). Head to our Finance page for more details.
While some banks and finance companies do offer a form of boat finance, they may not be offering the cheapest boat finance deals. Using the services of a specialist marine finance broker offers boat buyers significant benefits in source the best boat loans. How do they operate? Learn more on our Finance page.