A Boat Loan Broker makes getting loans easy.
A specialty boat lender can help you navigate the process better than a traditional lender who isn't familiar with marine loans.
A true boat loan broker knows the Boating Industry inside and out. He helps you find the best boat or yacht loan for your special situation by being marine lifestyle educated, fast, reliable and experienced. By delivering boat surveys, if necessary, boat value checks and boat history reports, he lets you know all of your boat loan options - not just the ones that are in the bank's or lending institution's best interest.
There are tons of financing and purchasing tips a boat loan broker can give you that the suit sitting behind a desk at your local bank can't (you know - the guy with the milky white complexion whose never stepped foot on the deck of a marine vessel before)!
Think of it this way. If you have a sharp pain shooting through your foot, are you going to go to an ear, nose, and throat doctor - or a podiatrist?
Make sure you get your boat loan through a credible boat loan broker, not someone posing as a marine lender who may not have your best boating or yachting interests at heart.
Don't fall victim to a lending practice called "Shotgunning" or "Shot Gun Lending"
Shot Gun Lending is when you're applying for a boat loan, or any loan for that matter, and your credit information is given out to all lenders at once.
This practice is used by sub-standard loan brokers, regardless of what type of financial institution they are, and can adversely affect your FICO Score on all 3 of your Major Credit Bureau's files.
To get more in depth, here's an example:
You're applying for a boat loan and you're using a service to get the best rate and term possible for your situation. The service takes your credit application and faxes it out to the 10 or 12 different lenders that they use. When each lender checks your credit file, your credit score lowers by 3 to 7 points for what's called a "CREDIT INQUIRY".
If your credit score goes down for each inquiry by 3 to 7 points, this could cause a FICO movement of 30 to 84 points! Needless to say, for every point your Credit Score goes down, the percentage rate for your loan could go up!... And, this could even cause a lender to decline you for your boat loan !
For more information or to buy or sell a boat, please call 888-306-BOAT or visit us on-line at Sell A Boat .Com
A true boat loan broker knows the Boating Industry inside and out. He helps you find the best boat or yacht loan for your special situation by being marine lifestyle educated, fast, reliable and experienced. By delivering boat surveys, if necessary, boat value checks and boat history reports, he lets you know all of your boat loan options - not just the ones that are in the bank's or lending institution's best interest.
There are tons of financing and purchasing tips a boat loan broker can give you that the suit sitting behind a desk at your local bank can't (you know - the guy with the milky white complexion whose never stepped foot on the deck of a marine vessel before)!
Think of it this way. If you have a sharp pain shooting through your foot, are you going to go to an ear, nose, and throat doctor - or a podiatrist?
Make sure you get your boat loan through a credible boat loan broker, not someone posing as a marine lender who may not have your best boating or yachting interests at heart.
Don't fall victim to a lending practice called "Shotgunning" or "Shot Gun Lending"
Shot Gun Lending is when you're applying for a boat loan, or any loan for that matter, and your credit information is given out to all lenders at once.
This practice is used by sub-standard loan brokers, regardless of what type of financial institution they are, and can adversely affect your FICO Score on all 3 of your Major Credit Bureau's files.
To get more in depth, here's an example:
You're applying for a boat loan and you're using a service to get the best rate and term possible for your situation. The service takes your credit application and faxes it out to the 10 or 12 different lenders that they use. When each lender checks your credit file, your credit score lowers by 3 to 7 points for what's called a "CREDIT INQUIRY".
If your credit score goes down for each inquiry by 3 to 7 points, this could cause a FICO movement of 30 to 84 points! Needless to say, for every point your Credit Score goes down, the percentage rate for your loan could go up!... And, this could even cause a lender to decline you for your boat loan !
For more information or to buy or sell a boat, please call 888-306-BOAT or visit us on-line at Sell A Boat .Com
Labels: Boat trader on line, sell boat, sell my boat, trade my boat, Used Boat Sales, Used Boats For Sale
posted by SellABoat.Com @ 11:25 AM
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