Boating enthusiasts now have only days before the iconic Sydney International Boat Show opens for 2024. Only days to get organised with tickets, travel, short-list exhibitors for the ‘must see’ boats and accessories, and for keen buyers, get their boat finance arranged.
What? How? Why? You may be thinking. Get finance arranged even before you decide which boat to buy? Yes, that’s right. For many buyers that have always found the boat they want, done the price deal with the dealer or seller, and then applied for finance, the idea of getting finance first, could seem very strange. Rather than strange, many buyers always prefer to arrange their boat loan as the first step rather than the last in a boat purchase, so they can realise significant benefits.
Benefits of having boat finance approved before even the final choice is made, can include avoiding awkward situations. Situations such as committing to a purchase and agreeing on a price with a dealer or private seller, only to find out that you are not approved for the credit limit required or that the repayments on a loan that size are beyond your budget. Creating a situation where additional deposits may need to be found or the purchase cancelled with possible loss of deposit.
With financing approved ahead of a purchase, buyers know exactly their approved credit limit in advance, and can select a vessel in a price range that matches their approved loan. For buyers attending a boat show with the clear intention to place an order or even with the vague possibility of making a purchase commitment, pre-approved finance provides the confidence to make decisions on the day. Capitalising on any show offers and, in some cases, securing limited edition models and expediting delivery of boats that require finishing or customising.
Buyers planning to order new boats at the Sydney Boat Show can arrange finance through Jade Boat Loans for fast boat loan approval prior to the event.
Understanding Pre-Purchase Boat Loans
Securing financing prior to a purchase or prior to a final decision is a straightforward and simple process with Jade Boat Loans. Advanced finance approval can be secured for all types of new boats from a PWC, a Quintrex tinnie with or without trailer and motor through to the latest Princess Yachts luxury motor cruiser or Beneteau yacht.
The same type of loan product applies to pre and post purchase finance applications. For most new boat buyers, that will be our Secured Boat Loan. This product includes our best fixed interest rates, fixed terms and fixed repayments.
The application process is the same as for post-purchase applications. The exception being that the specific boat and specific loan amount required is usually not known. Lenders require a loan amount request to approve credit limits and details of a vessel to confirm acceptance as suitable loan security.
When processing pre-purchase applications, we ask our customers for as much detail on the vessel or vessels they are considering, an indication of the price range, and an estimate of the amount required for the finance. We then source the best offers and conditional approval based on those details. Any offer at this stage is valid for a certain time period, after which it expires. When the final choice is made, the purchase price agreed, and the loan amount required confirmed, we proceed to finalising offers and the application.
What happens if the buyer changes their mind and/or doesn’t proceed with a purchase? If any loan offer is not required, the offer simply expires at the end of validity period. This represents another benefit for potential buyers. They can have the confidence of confirmed approval, but with no obligation or pressure to buy, if they don’t find their dream boat.
Best Interest Rates on Pre-Approved Boat Loans
Our best interest rates apply to pre and post purchase financing. Our experts source the best rates from our vast lender market and negotiate on all aspects of the loan to ensure the cheapest loan with the most suitable repayments.
The rate is locked-in at the conditional approval stage. But if any offer expires and is required at a later stage, the rate may be different. Buyers in the initial stages of buying can use our calculator to work up rough estimates for planning purposes.
Sydney Boat Show Event Details
With details on your loan options sorted, it’s time to consider the boat to buy at the Sydney International Boat Show. The show runs from Thursday 1 August through to Sunday 4 August at Sydney’s Cockle Bay and Darling Harbour precinct.
The show includes extensive on-water displays as well as exhibitors displaying boats, accessories, services and other boating products and information in the International Convention Centre. Plenty of entertainment is scheduled, including fishing masterclasses, discover sailing and paddling sessions, and loads of fun for all ages.
Tickets should be purchased in advance online. To start preparing that wish list, check out the exhibitor directory and note where key boats will be displayed.
Quick, Easy Steps to Fast Boat Loan Approval
Getting approved for finance pre-purchase with Jade is just as fast as post-purchase loans. Provide us with the necessary details, and many will receive approval in 24 hours. Ideal for Sydney Boat Show buyers with the opening date fast approaching.
Applications can be made online or by calling and speaking with one of our marine financing experts. Get organised with your finance and get to the boat show to make your dream boat purchase.
To confirm boat finance prior to the Sydney Boat Show, apply today at Jade Boat Loans on 1300 000 003
DISCLAIMER: THE INFORMATION AND SPECIFIC DETAILS CONTAINED IN THE CONTENT OF THIS ARTICLE HAVE BEEN PREPARED AND ARE PRESENTED PURELY AS GENERAL INFORMATION AND NOT INTENDED AS THE ONLY SOURCE OF FINANCIAL ADVICE FOR BOAT BUYERS AND LOAN BORROWERS. FOR THOSE THAT CONSIDER THEY REQUIRE SPECIFIC ADVICE, THEY SHOULD CONSULT WITH A FINANCIAL ADVISOR. LIABILITY IS NOT ACCEPTED IN REGARD TO ERRORS AND MISPRESENTED DATA AND DETAILS HEREIN.
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