Easy Guide to Boat Financing

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Finding the boat of your dreams is a great feeling. Don’t let the stress of financing it change that! Obtaining affordable financing is possible when you have the proper information and tools to help you. Just like a car, a boat has various financial loans you can get from banks based on your financial situation.

Before you commit to the first boat loan option available, make sure it works for your budget and lifestyle. Recreational Power Sports has put together a guide on what you need to know about boat financing.

Find your Boat

Visit our showroom to find the boat that speaks to you the most. We have a wide selection of fishing, pontoon, ski, utility, and pre-owned boats. Select the model that suits your needs, lifestyle, and budget.

Verify Budget & Credit

You can get a free evaluation of your credit report from your bank or on https://www.creditkarma.ca/. Look over your budget, the cost of boat storage, upkeep, and insurance options. Many lenders will often request 10% to 20% of the loan you’re getting as the down payment. LMG Finance requires no down payment, no money down, and no interest payments for six months to a year!

Work With Our Broker, LMG

Apply for financing for the boat you want. You can do that by filling out your info on our financing page or we can submit your application to LMG Finance over the phone. In a couple of hours, LMG will contact you and let you know if you are approved or not. If you are approved, they will go through the rates, banks, and terms. LMG Finance works with lenders to help you find the best loan that suits your financial situation. They do the work to find loans from banks, financial service companies or credit unions to get you the best deal. Once your application is approved, we begin to customize your boat package, accessories, and schedule a day for delivery. You sign the final documents, pick up your new boat, and head for the lake!

Recreational Power Sports has beautiful boats for sale in Edmonton. Whether you want leisure fishing boats or pontoon boats, we offer high-quality watercrafts to suit your taste and budget. Our work with LMG finance will help you find the best rates possible on the boat you love.

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