Whether you buy a boat from Lakeshore Marina, Harborlights Marina, Hales Bar Marina and Resort, Mid-Island Family Marina (our Florida location), or elsewhere, we can handle your administration, financing and warranty needs. We offer low interest rates & terms up to 20 years. Call Dave Bracknell -Marina Manager and Boat Sales (Harbor Lights Marina)
423-842-5391 daveb@hlmarina.com
• Full Service
• Finance Documentation
• Surveys
• Extended Warranty Service
• New & Used
BOAT FINANCING MADE EASY
At Harbor Lights Marina we feel a boat purchase should be an enjoyable experience and we pride ourselves on achieving that goal. Our professional staff will do all of the work so that you don't have to. Because of our volume annual sales, we have at our disposal almost every major marine lender and financing program.
We are a vessel assist dealer for towing.
Here are some of the questions that are asked most about financing a boat:
Q. How much do I need for a down payment?
A. It varies, depending on the lender and your credit history, but usually a minimum of 10% of the purchase price in cash or trade equity.
Q. How long can I finance my boat?
A. It varies, but this chart will get you close:
Finance Amount ($)
Terms (Months)
5,000 - 7,499
60
7,500 - 9,999
84
10,000 - 14,999
120
15,000 - 24,999
144
25,000 - 74,999
180
75,000 - Above
240
Q. What is the best rate I can expect?
A. Marine Loan Rates are determined by three things: The current Prime Rate banks are charging one another; the amount you finance; and, your credit history. In some cases, the rate is also affected by the amount you put down. That's why we provide a professional financing staff that stays in constant contact with our marine lenders to obtain the BEST available rate for you.
Q. Can I finance the cost of an extended service contract?
A. Of course you can. The lenders like it and at Mid-Island Marina we encourage it because it provides you, the boater, with peace of mind and allows for many years of happy boating. Happy boaters make their payments on time.
Q. What is Documentation and do I need to document my boat?
A. In simple terms, it is a Federal Registration rather than a State Registration for boats longer than 27 feet. Documentation is a personal choice that can be discussed at the time of the purchase, but in some cases it is required by a marine lender depending on how much you borrow.
Q. What is my payment?
A. That's a tough question to answer because so many things enter into how you will arrive at that payment. Here are some general guidelines:
Amount Financed ($)
Terms (Months)
Payment ($)
10,000
120
132
15,000
144
178
25,000
180
265
50,000
180
522
75,000
180
736
100,000
240
915
150,000
240
1,374
200,000
240
1,799
250,000
240
2,250
Dave Bracknell - Marina Manager and Boat Sales (Harbor Lights Marina)
423-842-5391 daveb@hlmarina.com
