Owning a boat can bring up new options that those who are confined on dry ground just do not have. With so many sorts and sizes to pick from, it doesn’t matter if your goal is to fish nearby or go around the world. Many boats are large enough to hold many people, making them ideal for business meetings or social events. You also have a lot of alternatives for buying a boat because contemporary vessels may be as fancy or as inexpensive as you like. If you want to spend time on the water, consider the most significant benefits of boat ownership.

1. Long-term Investment

New boats will typically last at least two decades if properly repaired and maintained. And if you commit yourself to maintaining your new boat, its service life may even surpass two decades. Depending on its condition, a second-hand boat can last for an average of 12 years.

2. Convenience

One of the most compelling reasons to own a boat rather than rent one is convenience. You don’t have to wait for availability or make a reservation; you own the boat and can do anything you want with it whenever you want.

3. Find Low Interest Rates

Getting low interest rates is helpful when purchasing a new boat. Most individuals consider the cost of a boat to be out of reach. The good news is that interest rates have typically been reduced, so anyone looking to purchase a boat may still find it affordable. So, when is the best time to buy a boat? There may be no better time than the present!

4. Boats can Reduce Stress

If you want to decrease stress, take a boat ride. There’s nothing like going out on a boat at night and watching the lovely sunset on the lake. Boating is one of the finest stress-reduction activities since it allows you to get away from anything that may give you too much pressure in your life. Consider buying a boat to relieve tension if you feel overwhelmed or anxious.

5. Source of Income

Depending on the size of your boat, you may earn money by renting it to others. Because it may earn revenue through rentals, this could help pay for your boat. The cost of renting a boat is often determined by the type of boat and location, but the potential for profit from renting your watercraft might be substantial. This can help pay part of the maintenance fees, reducing your financial strain. Renting a boat has long-term expenditures that you may avoid by owning your own boat.

Financing for Dealerships

As a marine dealer, you’re probably always searching for methods to boost your company’s profits. Boat dealership financing has several advantages, some of which are more evident than others. Let’s look at some of the various benefits of providing loans to your customers. 

 Benefits to Boat Dealership Financing

➔   Increase in Sales Opportunities

➔   Larger Purchasing Power

➔   Greater Flexibility for Customers

➔   Quality Boat Dealership Financing

Unfortunately, some dealers are having difficulty finding loans for their non-prime market. People with perfect credit may suddenly encounter enormous issues because of unforeseen events. These abrupt life transitions are frequently the cause of low credit. Medallion Bank offers financing choices to customers who have worked hard to put their credit troubles behind them.

Work with Medallion Bank

Medallion Bank continuously assists recreation dealerships in their success. Our number one objective is to ensure that you and your clients are always in excellent hands.

We work directly with dealerships and financial service providers to offer quality recreation financing for your customers, including those with past credit challenges. Loans in this sector are one of our specialties, so we know what it takes to help get the customer approved and the deals done. We provide loans for new and used boats 15 feet and larger & outboard engines, according to NADA Guides.

With our fast, simple, and easy non-prime financing, we help recreation dealers close more sales and serve more buyers. Some benefits of our programs include:

• Financing for boats up to 20 years old
• Fixed-rate contracts & no prepayment penalties
• Generous advance, including backend product financing
• Reliable customer service from experienced professionals

Make More Money in More Ways

The more you use Medallion Bank, the more you can earn. Whether it’s approvals you wouldn’t get otherwise, generous incentives, or customers for life that buy again and again, you can earn more with Medallion Bank.

If you’re interested in working with Medallion Bank, please contact us today to learn more about our credit evaluation process.