Personal Watercraft Loan

Personal watercraft have become very popular with many different options to choose from. Most sit down models are designed to accommodate two to three people and some companies offer larger versions as well. To be considered a personal water craft as opposed to a jet boat the craft must be less than 13' in length. PWCs can be stored in a garage and towed to the water behind most trucks and SUVs, making them very convenient for occasional use.

Key tips for when you want to find a personal watercraft loan:

• Check your credit score before shopping for a personal water craft. People with good credit might be able to get an unsecured personal loan for the purchase. If you have bad credit you might need to find a specialty lender to secure financing.
• Know what you can afford and only buy what you need. If you will mostly be making solo trips to the lake you probably won't need a four passenger jet boat.
• Watch for financing specials from dealers but make sure you compare rates and terms with other lenders so you know you're getting a good deal.
• If the loan is less than $10,000 you should try to pay it off in less than 4 years. Over $10K you might stretch it to 5 years if you can get a good loan rate.

Purchasing a personal water craft can ensure many fun weekends on the water enjoying the outdoors. You will need insurance, lifejackets, and maintenance as well as a place to store your new toy. Be sure to budget for all of these items as you plan your purchase.

Advice on finding the best personal watercraft loan:

Compare loan offerings from several lenders to find the best combination of rate, terms, and conditions for you. Pre-qualify so that you know what your payments and total outlay will be for whatever amount you are planning on spending and then stick to that budget for your new personal water craft. Don't get tempted to buy a PWC that is bigger than what you planned for. Also factor in a trailer and tow package if needed so you have a way to transport your purchase after you buy it. You should be able to find a great loan regardless of your credit history so you can enjoy your personal water craft right away.