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Boat
Financing - 877.424.8886
If
you're in the market for a boat, Hickory Bluff Marine is a
great resource for your boat purchase and finance needs. We
have plenty of useful advice, and we can show you the latest
technology and help you find financing tailored to your budget.
We offer financial specialists, whose job is to help you with
everything from completing a loan application to closing and
licensing your new boat.
Purchasing
a boat from a dealer offers a number of advantages, including
¦access
to multiple finance sources and/or special manufacturer and
dealer finance programs
¦year-round service departments
¦extended warranty programs
¦manufacturer and dealer incentive programs
Hickory Bluff Marine offers special programs designed to make
it easier for you to buy and pay for your boat. Be sure to
ask us about the availability of special finance options such
as, low or no interest introductory rates, or incentive rates.
Loan
Choices
Much
like real estate loans, several types of loans are also available
to those who finance their boat. We'll explain the complete
details of what tpe loans are available for you. We help you
choose the one that best suits your financial profile.
¦The
most common, simplest, and generally considered most favorable,
is a fixed-rate and fixed term simple interest loan. This
type maintains the same monthly payment for the life of the
loan. At the end of the loan, the borrower has paid off all
interest and principal obligations. At that point, as in real
estate, borrowers "burn the mortgage." ¦Variable rate loans
have interest rates that float based on different interest
rate indexes, such as the "prime" rate, or LIBOR rate. They
often offer low introductory rates. Rates can change daily,
or at some preset point in the future, usually months or years.
Borrowers
should look at the adjustable period and other details to
clearly understand how payments could change and anticipate
how to manage them. ¦Balloon payment loans require borrowers
to pay the entire balance at the end of a stated term. Some
borrowers choose "balloons" since they know they will only
own a boat for a certain period, say three years, and prepare
to pay off the loan at that time..
Bottom
line? We work hard to get everyone financed so they can enjoy
their boat.
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