Boats are magnificent things, good for lazy days on the lake, or a quick fishing trip with the guys (or girls). But they also can come in handy when you need a bit of extra cash. If you find yourself short on funds, or needing money fast, you can always get a boat pawn from us which is essential using your watercraft’s title to secure a low interest rate loan.
Just like getting an auto title loan or motorcycle loan, the better shape your boat is in, the better your rate may be. Most sites won’t need your credit report or any type of financial statement, because it’s the boat they care more about. So know the make and model number and any other information which could help you.
What’s so good about pawning your boat?
The best thing about pawning your boat, is it’s not your car. Cars are useful all year round, but for most of us here in the US, a boat is only really needed during the summer. So hand over the boat during the winter for a bit of extra cash and come spring, if you have the cash, you can always buy it back. By doing this you also don’t have to worry about storing it, which can cost a good deal no matter if the dock is dry and covered, or out in the open.
Of course you might be asking yourself “can I pawn my boat?” There is no specific boat type you have to pawn. Most dealers will take anything from last years speed boat, to the fishing boat you have had for over 10 years. Sure, the age of the boat might change the amount you earn, but in the end, every little bit helps.
Finding a dealer
The place to start to find a reputable place to pawn your boat is online. Check out different websites and call up customer service numbers to compare rates and amounts. You always want to make sure you go with someone who, not only will get you the most for your boat, but also provides a fair and honest deal.
Pawning these days isn’t just walking into your local pawn shop and selling the owner your goods. You want to work with someone you can trust, so when it’s time to go back out on the water, you still have the option. So don’t think the guy down the street is your only option, look online and talk to someone at your local marina, you never know what might show up.
Do a bit of research
Know before you go into any deal how much your boat is really worth on the market today. If that means checking out sites such as NADA Guides boat page or Valuemyboat.com then do it. It might mean a better price in the end.
The point behind pawning your boat is to get an amount you can use without having to sacrifice a vehicle you use all year round. Allowing someone to take your boat off of your hands for the winter seems like a win-win, allowing you to have a bit of extra money to help you out, and taking a larger burden off of your shoulders.
