5 Myths About Financing a New Boat

One of the greatest things about living at the Lake of the Ozarks is the LAKE OF THE OZARKS. People travel from all over the country to vacation, play and relax on this Lake. When you own a boat the possibilities for fun are endless. From wakeboarding to cruising down the main channel, you can enjoy so many different aspects of the Lake when you have a boat. If you've always thought the dream of owning a boat is too far out of reach — think again.

There are many myths floating around about buying and financing a new boat, but don't believe everything you hear. We're going to dispel a few of the myths, and who you that buying a new boat is easier and more affordable than ever.

Myth: I can't afford a new boat.

Fact: Just as you can finance a car, you can finance your boat. By choosing to finance, you have opened the possibility of getting a nicer and larger vessel than if you were trying to save on your own. Another interesting fact is that financing is becoming much more affordable. Depending on your individual circumstances (credit score, income, and choice of boat), sometimes the monthly payment can be less than $300.

Myth: My credit score is too low

Fact: Your credit score is only too low if you have NO credit score - and even then, you're not entirely out of options. Many finance companies can work with your individual situation to make financing a possibility. In fact, there are a few companies who can even work with bad credit. Every situation is different, and your credit score can impact the monthly payments, but you are not out of options.

Myth: I can't afford a down payment.

Fact: The down payment is based on the age, type and price of the boat you are buying, as well as your own credit profile. Marine lenders are typically looking for 10%-20% down on a boat. Though sometimes there are discounts available through the dealership.

Myth: My trade-in is too old to make it worth my while.

Fact: You'll never know until you actually try! Many marinas will accept boats that are older, as long as their in good condition. After you let the marina inspect your boat, they can give you an estimate, and if you're lucky, it could cover the cost of your down payment! If you want to trade a pre-owned boat at the Lake of the Ozarks, give us a call!

Myth: I may be able to finance a boat, but I can't afford the extras that I want.

Fact: When you start the process of financing your boat, many lenders will also include the total price of the extras you want. From mooring covers to depth finders, you can generally have that included in your financing. As an added bonus, some lenders will also include your sales tax in the financing as well. Be sure to ask these questions when you start looking at financing.

It's Time To Buy A New Boat at the Lake Of the Ozarks!

From our helpful staff members to our great selection of new and pre-owned boats and watercraft, we can help you find the perfect match. We've been providing boats at the Lake of the Ozarks for over 40 years, and our experience and our commitment to quality is what keeps you coming back. When you're ready to buy a new boat or PWC, we can help you from beginning to end. At Surdyke Yamaha, you really do ride on our reputation.

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Highway Store Location        Marina Store Location         Surdyke's Port 20

5863 Osage Beach Parkway       1660 Yamaha Drive                 5395 Spruce Lane

Osage Beach, MO 65065            Osage Beach, MO 65065         Osage Beach, MO 65065
(573) 348-6575                         (573) 348-9283                      (573) 348-3178