It is no secret that we do not even have the most boat-friendly climate in Denmark, but still, there are more and more people going around with the dream of owning their own boat – and maybe you can recognize this? But before we can go out on the water, it is, of course, important first to have the basics in place, namely the boat itself, and it can quickly become a big financial commitment.
If you haven’t put yourself in the market, you will quickly find that you can find both at virtually all prices depending on what you want. Some may get thrown in your head for a few thousand dollars and others cost more than a house!
So it is up to you how much you want to invest in your coming boat, but also be realistic and have a budget in mind that suits your situation. There is no one to say that you should definitely go investing in a brand new boat, and fortunately, it doesn’t have to cost a fortune to get out to sea.
Did you also know that more and more Danes are opting to take out a boat loan now online instead of going to the bank? There can be many good reasons for this! Below we will go through a few financing solutions for those who dream of coming out on their own.
Loans through friends and family
The easiest loan to record is, of course, through friends or your family. For example, if you already know someone who has a boat and who is close to you, they are more likely to be willing to help you fulfill your dream.
However, it can also be dangerous to take out a private loan, and blending finances and friends together is not always a good idea. Consider how you yourself would like to borrow other money for their pleasures. Would you think it was fair or might you feel you could spend your own money better?
There can be many dangers of borrowing through family and friends. Among other things, you must definitely make sure that the money is paid back in time to avoid relations being destroyed. If you borrow through a close friend, you may also very likely find that your relationship goes and becomes a lot more tense – especially if you do nothing to pay the loan back again.
Also remember to be realistic about who you are asking for money. A loan of this size is a great commitment and you therefore do not want to ask everyone. Also consider their financial situation before you ask. Maybe they even struggle with money problems or don’t have the profit to borrow money? In that case, it is best not to ask.
Loans like official
If you do not feel that it is possible for you to borrow money through family or friends, consider the possibility of borrowing through the bank or through the web. Here you have in principle two options. You can take out a loan where you make security in the boat or you can borrow without security. The prices of these types of loans can vary widely, and it is therefore a good idea to have complete control over what is best for you.
If you want the absolute cheapest loan, you can choose to put your property or property on a mortgage. This can be, for example, your home, your car or your horse – the more you deposit, the lower the interest rate you can expect to get and you can therefore be sure that you end up with the absolutely cheapest loan.
However, you must be completely safe in your case before you start to take out a loan with certainty. When you pledge your belongings, you give the provider permission to claim your valuables in case you cannot repay the loan on time.
All about loans and used boats
When you choose to borrow a loan for your boat purchase, you must be aware that not all banks offer loans for used boats. In the vast majority of cases, it depends on your bank’s policy and on the value of the boat. If you, therefore, have trouble getting a boat loan through your bank, you can advantageously choose to do it through the net.
Borrowing online has become more and more popular and there is a good reason to do so. At an online provider, you rarely need to document what you want to spend your money on. You, therefore, get the freedom to spend the money on the boat you are dreaming of now and then – whether it is used or not.
How much you can borrow for your boat depends on your finances and ability to pay. Many online providers today offer loans of up to hundreds of thousands of dollars, even if you are a new customer. However, this necessarily requires that you have control over your finances.
What about a consumer loan?
There is no doubt that consumer loans have come to stay and have, over time, become the most common loan in Denmark. You will find consumer loans online and since more and more providers are coming in, it is now cheaper than ever to take up a consumer loan online – wherein the bank you will quickly find that it can cost you really expensive.
In any case, it is basically no matter what type of loan you choose – as long as you have taken care of getting the cheapest interest rates and a payment agreement that you can observe.