Boats are awesome, but are not a small investment. Depending on their features and on the purpose they serve, boats can get quite pricey, but they can also take hobbies, weekends and vacations to a new level. People everywhere, especially those who live near water, are willing to go to great lengths to purchase them, from trade-ins to cost saving sacrifices, etc. Another fairly common route that should be explored is taking out credit union boat loans.
Of course, the ideal is to buy the boat in cash, either from your savings or from the money you get by selling some other possessions. However, life is far from ideal, and, besides the money for the actual boat, you also need money for the ownership transfer formalities, for repairs, furnishings or reconditioning.
Boat loans are the best solution for both those who cannot afford to buy a boat in cash or those who can, but would prefer not to. Here are just a few of the advantages these loans offer:
Advantages of Credit Union Boat Loans
- Affordable monthly payments, established according to your needs and budget;
- Enough money to finance any repairs or improvements necessary;
- The financial freedom to actually enjoy the boat after buying it, no matter if this means going fishing, high speed water sports or taking a cruise;
- The possibility to buy a better boat than you could afford if you were to pay for it upfront;
- Lower risk, since the loan is secured only against the boat.
There are many other benefits to be enjoyed when taking a boat loan, but their nature often depends on the lender. If you want to get the most convenient loan out there, one of your best bets is to borrow from a credit union. Here are just a few reasons why we think credit union boat loans are preferable to banks, private lenders and other financing sources.
Why Borrow from a Credit Union?
- You are a member, not a customer – This makes you an active part of the union, one they are interested in keeping satisfied in the long run.
- The loan costs are often lower – From interest rates to various fees and commissions, the costs of credit union loans are typically much more affordable than those of bank loans or payday loans.
- The loan is customized to your needs – Credit unions base their existence on members like you, so they know your needs and possibilities, and they will offer fast and flexible loan solutions to meet them.
- The freedom to buy any boat you want – From fishing boats to cabin cruisers, pleasure boats, motor or sail boats and pontoons, you choose what you want to buy.
- The chance to buy from anyone you want – While most banks will only finance new acquisitions from authorized companies, credit unions will let you buy from anyone you want, even used or reconditioned goods.
Of course, the benefits are even more numerous, but it is important for you to realize that not all credit unions are alike and not all of them offer affordable loans. If you’re in South East Texas and want to explore some of the best terms on the market, give Eastex Credit Union boat loans a chance.
Who We Are and What We Have to Offer
What sets us apart from our competitors? This Credit Union was started with the goal of supporting a community with solid financial services and fair rates. Eastex has continued to function as such to this day. Our goal isn’t profit, but rather opening up new opportunities for our members and the entire community.
Interested in learning more? Let’s discuss the loan you are interested in, and you will surely see for yourself that we offer the best boat loans on the market! Stop postponing that dream vacation, your hobbies or your business plans! Let us help you achieve your dreams!
Apply for a Loan!