Financing the Boat of Your Dreams

[iboats.com]

[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]You've shopped for months and finally found the boat of your dreams, now, how do you finance it? You've seen many finance companies advertised in boating magazines and through searches on the Internet. So how do you pick the right one for you, and are they all the same? The answer to the latter is a resounding NO![/FONT]


[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]While many of these companies may look the same, you don't have to look very far under the surface to see the differences. Many finance companies are merely "loan originators", meaning that they don't lend their own money and must shop your loan around until they can find a lender that will "buy" your loan. Do you really want another middleman? It is much better for the consumer to find a company that is also a lender. This type of company can set its own lending criteria, which means they may offer rates and terms that the "origination" company cannot. Finance companies that can make their own credit decisions will be able to approve your loan much faster. [/FONT]

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[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]What's important to you? Is it better to deal with a small company or a larger one? The majority of boat buyers and owners believe that dealing with a larger, well established company is more advantageous since many of these "origination" companies come and go rather quickly. Some of these "origination" companies have been in business for only a short period of time, have few employees, and much less funding to invest in modern systems that will help the consumer with a fast and smooth financing process. Many of these "origination" companies can only offer loans in certain states and are limited on the size of loan. [/FONT]

[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]As a consumer you should carefully check whether the finance company you chose is compliant with all federal and state laws regarding consumer lending. The applications of some "origination" companies have illegal questions and are not compliant with state and federal guidelines. How will this affect you as a borrower, it's hard to tell, but wouldn't you rather be safe than sorry? [/FONT]

[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]New laws have been enacted that finance companies must strictly adhere to, including guidelines concerning the privacy of a loan applicant's personal information. This is of primary concern to many borrowers. [/FONT]

[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]A leading national boat lender, Essex Credit Corporation has been in business for more than 20 years. Essex is owned by one of the largest banks in the world giving them access to resources that few other finance companies can match. Essex offers loans in all fifty states, terms up to 25 & 30 years, loans from $15,000 to $10,000,000, and instant approvals. Essex Credit is not only a lender; but also a partner with other major lenders working together to get the best deal for their customers. [/FONT]


[FONT=Trebuchet MS, Lucida Grande, Arial, sans-serif]With Essex Credit the borrower will work closely with their loan representative who will work to approve the application and their loan closer who will handle all of the required paperwork from start to finish. So if you're looking to buy a new or used boat or refinance an existing one, I recommend that you call Essex Credit today and your boat loan will be Made Easy! 1-866-377-3948, or click this link for an Instant Loan Approval Application. [/FONT]