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Boat Rates and Deals
Boat Rates and Deals
There are many different things that you can do to save money on your boat purchase. It doesn't matter if you have a lot of money to spend or a little. Finding out how to get good deals and cheap rates is easy, as long as you know where to look. The first rule is to have excellent credit. Good credit is okay, but excellent credit is better. Having all your debts paid, aside from the potential mortgage and vehicle is going to get you good deals. So will having a high debt-to-income ratio. That means that you should have about three to four times the amount of money coming in as what is going out to pay your debts. This is calculated on a monthly basis using minimum payment amounts.
For example, if you make $5000 in a month, you should only have about $1500 to $2000 in debts. That will make you appear much more credit worthy than someone who makes $8000 but has $5000 in debts. It all balances out in the end. You also need to have a good down payment. Proving that you are committed to paying back your loan is easily solved by having a substantial down payment that allows you to take a chunk out of the amount of money that you need for your boat purchase.
The next, and possibly most important step, is to shop around. Compare rates and loan options everywhere you can, but get no more than three to five so that you don't drop your credit score with too many inquiries. Then, once you find the deals you like, talk the dealers and sellers out of their money. If they want so much money for a boat, tell them you can't afford it, and don't settle until they come down to a price that you like. By taking the time to wheel and deal, you're much more likely to get better boat rates and deals on your boat purchase.
Boat shopping isn't hard. You simply need to take the time to learn what you want, what you need, and what you can afford. Knowing how to appear professional and knowledgeable to boat salesmen and dealers is the key to getting the best deals on boats and boat loans. If you can talk faster and smoother than they can, chances are that you'll get what you want, because you've taken the time to put your foot down and decided not to settle.
For more boating accessory information, check out Carolina skiff sales and parts, Minnkota trolling motors, Motor Guide trolling motor parts, Mercury outboard parts, Mercury outboard motor parts, Mercury Mariner parts and sales, and Pontoon boats accessories.
Submitted by: Sandi
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Added: Wed Dec 10 2008
