If you are looking to refinance your boat you’ve come to the right place. We have information on refinancing yachts, dinghies and other craft. Changing your loan is a great way to reduce payments. Check whether you have an early repayment charge though first before cashing in your old credit.
By refinancing your boat you can save lots of money. Here’s an example of just a 1% reduction in loan rate:
Loan Balance $200,000
Remaining loan balance 240 months
Current rate 8% - monthly payment $1813.48
New interest rate 7% - monthly payments would be $1696.87.
Thats a saving of $116.61 a month with little effort.
