When buying a boat, the early bird gets the worm. While most buyers might start shopping for their new watercraft in the warmer months, savvy consumers will realize the benefits of securing boat financing before cruising season begins.
Want to learn more? In this post, we’ll break down the benefits of financing your boat during the Canadian winter and provide some handy tips so that your purchase is smooth sailing. Let’s get started!
Advantages of Winter Financing
Financing your boat during the Canadian winter comes with several advantages. Some of these perks include:
- Cost savings: Dealers often offer lower prices, special incentives, and other deals during the off-season to incentivize buyers and encourage business.
- Better financing terms: Slower sales often mean that lenders will offer better interest rates and more flexible financing terms to attract borrowers. Lock in these favourable conditions during the winter season and save money over the lifetime of your loan.
- No time on the water wasted: With the limited Canadian boating season, you probably want to maximize every moment. By purchasing your boat during the winter, you can ensure that any maintenance or upgrades are completed ahead of time, and you are completely prepared to start cruising as soon as possible.
Tips for Buying Your Boat During the Off-Season
Be Patient
While buying a boat while your lake is still frozen might seem weird, this extra time allows you to research, consider your options, and make an informed purchase. This additional time can also be used to negotiate better prices or compare lending options. So, while you might have to wait a few months to try out your new toy, you can rest assured that you are purchasing the best vessel for you.
Invest in Proper Winter Storage and Maintenance
While buying your boat during the colder months often comes with a lower price tag, you should still account for some additional costs.
For example, you’ll need to ensure your vessel is properly prepared for Canadian winters. This usually involves draining all fluids from the boat, stabilizing your fuel system, and lubricating any moving parts. Additionally, you should make sure that you invest in seasonally appropriate covers for your boat or explore indoor storage options. Make sure to include this cost in your budget when initially exploring your financing options.
Consider a Professional Survey
If you are financing a used boat, think about hiring a professional surveyor to assess the condition and value of your vessel. These surveys will conduct thorough inspections of your watercraft’s hull, electrical system, and other important elements. This way, you can be confident in your purchase.
Trust Auto Loan Hub for Canadian Boat Financing
Ready to start your boat ownership journey? Look no further. Auto Loan Hub’s boat financing process is quick, easy, and expertly tailored to your needs–even during the off-season. Get started today with no impact on your credit score. Plus, you can explore a nationwide inventory of boats from the comfort of your own home. Visit our website and get pre-approved for your Canadian boat financing in minutes.
