Raritan Engineering Company your macerating toilet specialists would like to share with you these topics we thought would be of interest to you this month regarding some great ways to get a boat loan.
1. Check your credit. Your macerating toilet experts talk about how before applying for a loan get your current credit score and ensure your credit report is accurate. Scores above 800 may earn you a better interest rate. A free copy of your credit report is available annually from each of the three national credit bureaus at www.AnnualCreditReport.com.
2. Find the right loan type. A fixed-rate, fixed-term, simple-interest loan is the most common. This offers the same monthly payment for the life of the loan. Variable rate or hybrid options may offer a combination of a fixed rate for a few years, and then a variable rate.
3. Consider a HELOC. Buyers of smaller vessels often tap into their home equity line of credit (HELOC) to fund a boat purchase. That may work well if you plan to pay the boat off while interest rates remain relatively low.
4. Compare loan rates. Generally rates are lower and available loan terms are longer for newer boats and larger loan amounts. However, each is dependent on a variety of factors including model year, loan amount and down payment. Be prepared for banks to require larger down payments, have higher rates and offer shorter terms on older boats, especially those more than 20 model years.
5. Don’t be fooled by ads. You may see rates advertised as low as 3.99 percent, but there usually will be some small print that could make that loan less attractive. For instance, the rate might only be fixed for a few years or the loan period might be only seven years.
6. Get pre-approved. To help save time, ask if you can get preapproval, or if you can possibly start the underwriting process before you have a signed sales agreement or even have a specific boat in mind.
7. Know your tax benefits. A boat can qualify as a second-home loan interest deduction if it has a berth, galley and head, so buying a boat with these features may offer a tax advantage.
8. Get it surveyed. For pre-owned vessels, hire a qualified marine surveyor to inspect the boat to ensure it is in good condition and you won’t have any unexpected repair bills. BoatUS.com/Surveyors can help you find one. Also, many lenders will require a marine survey.
9. Ask about closing costs. As with any loan, there are some fees involved. Sales tax, processing fees, title and registration and/or US Coast Guard documentation fees are common. Check with your lender to find out what to expect.
10. Calculate your monthly payment. How much can you afford? Go to BoatUS.com/Calculator to easily crunch the numbers. Your lender will also review your debt ratio and other criteria.
A contract is more easily enforced if it’s in writing. Dealers often use standardized purchase agreements, but buyers have a right to protect their interests. By crossing out terms that are inappropriate and adding optional provisions or contingencies, you can tailor the contract to protect yourself. Check out our “Buyer’s Toolbox” to see how you can obtain a sample contract. It’s good to remember that the initial cost of buying a boat is not the biggest expense of ownership. An annual budget should include your boat loan (if financed), storage or slip fees, insurance, operation, and maintenance fees. One surveyor told us he recommends that in the first year of ownership, buyers should be prepared to spend 10 to 20 percent of the purchase price for repairs and updates. Commonly called extended warranties, service contracts are actually repair insurance policies. It is important to know that while the manufacturer’s name may be written on the literature, they’re administered by a third-party company. Service contracts don’t create a legal obligation between the manufacturer and buyer, so before you buy a service contract, read it over and make sure you feel the coverage is worth the money
So don’t forget these pointers when trying to get a boat loan. 1) Check your credit; 2) always compare loan rates; and 3) ask about closing costs.
Millennials Who Sank A Boat Get $13,000 In Donations
A pair of millennials sank a boat they were not qualified to operate and received $13,000 in donations to buy a new one, according to the Daily Wire News.
Nikki Walsh and her boyfriend Tanner Broadwell decided to sell all their possessions and live a carefree life by sailing from island to island on a 50-year-old sailboat. Unfortunately, their dream came crashing to an end because of their lack of sailing experience.
After the couple sold all their possessions, they bought the boat and spent $10,000 on repairs. Once the repairs were done, they embarked on their journey. But there were two problems; they didn’t purchase insurance and neither of them knew how to sail.
Not knowing how to sail can be forgivable. It’s dangerous, but not uncommon. But not purchasing insurance on a vehicle is not forgivable. This particular couple has not purchased insurance for their next trip yet.
Boating Safety Tips. Whether you’re a new sailor or have years of experience, it’s always good to know/review boating safety tips. According to Discover Boating, the first tip is to always be weather-wise. Before embarking on a trip, you should always check local weather conditions. If you notice that the clouds are starting to darken and the winds are picking up, they suggest that you get off the water.
Pre-Departure Checklist. Discover Boating recommends that everyone who is sailing on the boat go through a pre-departure checklist. That means going through fire safety and tips on how to fuel up. Going through the checklist is a good refresher in case people have forgotten.
Your Boat’s Downrigger Can Help You On Your Next Fishing Trip
Raritan Engineering Company your boat head specialists would like to share with you these topics we thought would be of interest to you this month regarding fishing with your downriggers.
Your boat head experts discuss how a few things frustrate us as much as staring at mark after mark on the fish finder, while our offerings go untouched. We’ve all been there – wondering what we’re doing wrong, why the fish won’t rise to take a bait, and what we could be doing differently to trigger a strike.
We have a number of ways to get baits down beneath the surface: planers, lipped lures and using oodles of lead are all options. But you’ll have a tough time finding someone versed in the use of downriggers who doesn’t believe them to be a superior tool for reaching deep fish in a number of situations.
“Fish don’t just sit up top, especially when there’s a strong thermocline,” says tournament angler and team captain Mark Henderson of Liquid Fire, who fishes everywhere from the Gulf coast up to his home port in North Carolina.
Henderson says he always runs two downriggers, and mixes up what’s offered on the lines – usually skirted baits, plugs or live baits – to give the fish some options. He’s caught species ranging from sailfish (as deep as 85 feet) to mahi to king mackerel.
Even when there isn’t a strong temperature break beneath the surface, Henderson still utilizes downriggers to give his baits a slightly different look. “Changing the presentation just that much, with a common bait like a cigar minnow or ribbonfish that’s usually placed at the surface, sometimes makes a difference.”
How Many Fish Will Your Downriggers Help You Catch?
The other downrigger application he advocates – and it’s a popular one – is trolling for wahoo. “A lot of times, they prefer a subsurface bait,” he says. “In that case, a purple-and-black Ilander lure rigged with a ballyhoo is the preferred offering.”
Forgione says this technique makes downriggers very effective for targeting sailfish, and also for blackfin tuna in spring. “They always seem to be swimming right along that temperature barrier,” he explains. “And you have to remember that the temperature and the currents can be completely different down below, sometimes as little as 20 feet down.”
Pay to Play
Effective though they might be at times, downriggers must be properly tended. “When you get a fish on the line, you need to get the downrigger ball up and out of the way fast,” Henderson explains, “or you risk a disaster.”
But will a downrigger expand your options, and allow you to apply the most effective tool possible when the conditions call for it? You bet, and that will help you turn those frustrating sonar marks into fish on the end of your line.
So don’t forget these great tips on using your boat’s downriggers to help you fish offshore. 1) Downriggers can give bait a different and more appealing look; 2) they help you get your bait to the part of water at the right temperature; and 3) make sure you tend your downriggers properly.
UK government to protect fishing waters from EU with ARMED patrols
The move will be a major signal to the European Union to stay out of British waters.
If EU fishermen fail to do this they will be met with an armed response.
Mr Eustice spoke to the House of Lords’ EU Energy and Environment Sub-Committee and said:
“We are ensuring we have the capacities we need on the day we leave the EU.
“We are speaking to the MOD about the fisheries protection unit and what additional capacity many be required there.
“We will need more vessels, particularly when boarding fishing ships.
Jim Portus, chief executive of the South West Fish Producer Organisation, previously said the Navy would have to be intelligence-led.
He said: ”Yes, there are risks of port blockades, especially by the French. They do it so often.
“But we already have technology like satellites, plus CCTV cameras on many vessels.
“There will be 1,000 UK fishing vessels just itching to report any illegal activity.”
French Fishermen complain that ‘life will be hard’ as Britain to FINALLY get its waters BACK
‘Life will be hard’ when the UK takes back control of its waters claims French fishermen.
French fishermen destroyed the UK fishing industry! These are our waters and our fish.
The French are more than welcome to fish in their own waters.
Cry me a river…
SFF chief executive Bertie Armstrong said: “It is clear that there is overwhelming public support for the UK to regain control of what is after all part of its natural capital – the fish stocks around our shores.
“It is pleasing that voters have also been persuaded that it makes sense for us to leave the [EU’s] Common Fisheries Policy (CFP) within the early stages of the transition period.”