Have questions about financing your new boat or RV? Let the experts at Long Beach Yacht Sales help with your purchase. Check out our low rates and easy application process by giving our finance team a call at (562) 431-3393 x224. You can always e-mail your questions as well, Renee@LBYS.com
Frequently Asked Questions...
What are the interest rates?
Rates vary depending on your credit rating, the amount of money you borrow and the boat or RV that you are buying. We are a high volume dealer and we work with many national and local lenders so you can be sure that our rates are very competitive.
How much do I need down?
We can customize a loan that best fits your needs. In some cases, we can offer no money down. In most cases, 10% is the average.
What are the terms of the loans?
Of course, Terms vary. Most recreational loans can range from 5 to 20 years depending on the amount borrowed which makes your payments very affordable. Payments as low as $129.00 per month (oac) are common in recreational financing.
Are there any prepayment penalties?
None of our loans have prepayment penalties.
Are there any loan fees?
No, we are happy to help.
What about my Credit Union?
While Credit Unions sometimes offer their members competitive rates, most of the the time the terms are shorter making your payment too high. Financing with us is just easier. We offer "one stop shopping" so you don't waste precious time making multiple visits to your bank or credit union so you can get on the water faster.
I can pay cash, why would I finance?
Many boats and RV's qualify as second home tax deductions. Often times the tax savings outweighs the interest expense. Also, most savings vehicles are compound interest. Most of the time the compound interest you earn by saving your cash works in your favor faster than the simple interest works against you on your purchase. The end result is you save money.
What if I have credit challenges?
Our experience makes a difference if you have challenged credit. We'll work with you to try to get you a loan. If we don't get you approved, no one will. We know that there is more to your history than just your score.
How do I register my new boat or RV?
We do it for you. We are a licensed, bonded and insured DMV agent. When you pick up your boat or RV, we'll hand you your temporary registrations so you can get to what matters...having fun.
What about Insurance?
Though we are not insurance agents, we are happy to refer you to reliable insurance companies that we have worked with for years. We'll help your agent get you covered as well.
Are there warranties on used boats and RV's?
There are service contracts that are available to you to protect you against major mechanical breakdowns or failures.
How do I get started?
Give us a call and our friendly staff will help you find the boat or RV of your dreams.
Contact our finance office with any further questions at (562) 431-3393 x224
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