Hello Everyone! Thank you for following along on our adventure as we sail to new lands with our electric motor and synthetic standing rigging. We are venturing along using only the power of the wind to carry us across the great blue world that we live on!
Financing a boat is a big decision. If you’ve used the boat payment calculator and have some more questions, here are a few things worth considering.
What Factors Affect My Rate?
Our boat payment calculator takes into account the interest rate, loan amount, and loan term you provide to calculate your estimated monthly cost. However, the rate and term you are offered will ultimately be determined based on your credit score, debt-to-income ratio, and other financial factors. You should obtain a quote from several boat loan lenders to get an idea of the loan rates you’re eligible for.
What Credit Score Do I Need to Get a Boat Loan?
Boat loans may be available to borrowers with credit scores as low as 500 to 550 but you will pay a higher interest rate. Boat loans with the most affordable terms usually go to borrowers with applicants who have good to excellent credit—generally, scores of around 690 or higher.
How Long Will My Repayment Term Be?
Boat loan terms vary by lender and are determined by the amount you borrow, your desired monthly payment, and your creditworthiness. It is possible to finance costly boats with loans that are repaid over terms as long as 20 years. However, with interest rates being equal, the longer your loan term, the more interest you’ll pay and the higher your total costs will be.
Is a Boat Loan Similar to a Mortgage?
If you are financing a very large boat that could double as a residence, such as a yacht, local laws may mandate your boat is registered with the Coast Guard or with other federal marine authorities. In these cases, a formal boat mortgage may be required.
However, most people using our boat loan calculator won’t need this type of loan. Instead, most borrowers will take out an installment loan. While mortgages are also a type of installment loan, boat loans require much less paperwork and are treated more like a standard personal loan or auto loan.
Does Your Boat Loan Calculator Pre-Approve Me for a Loan?
Our boat financing calculator is for informational purposes only, so entering your desired loan information won’t pre-approve you for a loan. However, you can either get pre-approved or submit a full application to the lenders shown above after entering a few additional pieces of info.
How Long Will It Take to Get My Loan?
The length of time it takes to get approved for a boat loan will vary by lender. Some lenders provide decisions within minutes and funding within a few business days. But it is common to wait for two to four days for a decision, and it can take an additional week or longer to get your funds after approval, depending on the lender.
Calculate your boat loan payments here: Boat Loan Calculator
If you’ve ever been on a plane, chances are that you’ve seen a few people opening up their bags and struggling to find a solution because they packed a little too much weight. You never want to end up in a situation where you'd be in their position and you have to find a way to clear out some stuff from your bag in order for it to get into the plane. This article will help you avoid being in such a tough and stressful situation, especially if you're already a little late.
Here Are 3 Ways You Can Avoid Excess Baggage When Traveling:
Buy Certain Things At Your Destination
Whenever you're packing, you usually get this feeling to over-pack in case you'd need your extremely large shampoo bottle. Well, an important piece of information to remember is that other countries have these products too, some for an even cheaper price than the one you have. Buying things like toiletries and hair products in the place you're going to end up saving you a few kilograms in your bag, and those make a huge difference. If you're planning to stay for an extended period of time, then you'll need all the weight you can get to pack your clothes anyway.
Weigh Your Bags Before You Leave
Getting all the way to check-in your bag before you travel is a really stressful situation when you don’t know what to expect when you get there. You cross your fingers and hope you're not overweight because you don’t know how much your bag weighs after you packed it. Here’s some news, there are multiple ways to weigh your suitcase while you're still at home. Having a handy little device to check the weight of your bag before you actually leave to the airport can save you so much trouble in the long run, especially if you travel frequently.
Use a Light Suitcase
If you still carry around an old, heavy suitcase that’s huge and can fit all your clothes when you travel, then you might want to invest in something that does the same thing but with a lot more ease. There are hundreds of new suitcases that have a sturdy exterior shell but are extremely light and easy to handle. The weight of your suitcase itself goes into account when you're at the airport, and the lighter the suitcase, the more you can pack. Any problems with weight always occur with just a few kilograms that could’ve been spared by having a light suitcase.
Try To Use As Many Tips & Tricks as Possible
Avoiding being overweight and having to either pay a fee to get your bag on board or having to unpack things from your big suitcase onto your carry on bag is the main priority here, but you also want to have the freedom to carry the things that you want to take with you too. Avoiding unnecessary weight by combining every single trick in the book will leave you with the utmost comfort when you're packing. You'll pretty much never have to worry about heading there and finding out that your bag is overweight, especially if you know for a fact that it isn’t.
When you think of a boats head, the sink probably doesn’t stand out as a key accent piece. That’s because they are usually made out of some cheap plastic or something that is hidden out of the way where it won’t be noticed. Popular materials for boat sinks are plastic or stainless steel; not because these are exceptionally stunning materials, but simply because they last a long time in the harsh marine environment.
When we refit our head, we decided to take our sink in a different direction:
Copper sink! Pretty!! But will it last? Copper is rarely used on a boat in favor of bronze because copper will corrode away in no time flat! Copper, when exposed to the marine environment will turn into green dust and blow away with the wind. Putting it in a marine head where it is constantly exposed to shower water, waves that come through the hatch, and the dampness of a shower in high latitudes sounds like a death sentence.
We chose to rise to this challenge and see if it could be done! Why? Because copper sinks are pretty! I know that is a dumb reason to try something out, but being a vessel sink, we could always remove it if it died on us and replace it with anything else! This meant that if the test was a failure, we would simply have to buy a new sink; but if the test was a success, we would have a beautiful accent piece in our head!
Challenge accepted! We purchased this sink on Amazon and it arrived ridiculously quickly. We the got it installed in the new head and everything was ready to roll. Let the test begin; slowly.
The sink has now lived in the boat for 5 months and is still looking fine. We have yet to develop any signs of corrosion in the form of green powder, even though we have taken many a wave over the deck with the hatch in the head open. Salt water has been pouring over the copper sink and it has managed not to tarnish!
How? Well, to call this a copper sink would be the same as calling a house “wooden”. The sink is made of copper, but the outer surface is not copper. The outer surface is covered with coatings that isolate the copper from the world around it. This means that if moist air were to rest on the outside of the sink, nothing would happen.
Naturally, over time, these coatings will wear down and the sink will start to pour out green dust of decay, but that is only if we do absolutely nothing to the sink! Metal polish with protective waxes in them will help keep the copper bright while also protecting it from the harsh marine environment.
Our sink has been in use for a while so far and is working very nicely, regret is the last feeling in my heart when I give someone a tour of the boat and show them the head!
When people wonder about the costs of going cruising, they often limit their thoughts to just the monetary costs of cruising. How much will it cost to…? Everything is focused on money, the cost of buying a boat, the cost of maintaining a boat, the cost of fuel, the cost of food, the cost of everything! Forget about the costs.
Everyday you live costs money! You don’t think about “can I afford to live the way that I do?” Instead you simply live based on how much money you have, and the same will happen when you are cruising. If you can afford it, you will do it, if you can’t afford it, you won’t do it. It’s that simple!
The real costs that are overlooked are the emotional costs. These really hit me recently and were rather expensive.
When we set off to go cruising, I said goodbye to the world that I knew. Never again would any of this be the same. When I returned from cruising, the world will be different and the place that I departed from will no longer exist. This might sound dramatic but it is the truth.
Friends that you had as neighbors will move away or die, so where you once lived will not be the same upon your return. Family will get older, cousins will grow up, and everything will change.
I thought this was a preposterous concept when I was leaving. Nothing ever changes in my world. I have had the same neighbors for 5 years, my friends live their lives of routine, and my parents are very resistant to change.
In the short time that we have been gone, our old neighbor sold their boat and moved from Maryland to South Carolina. Our other neighbor went cruising, returned from cruising, and is selling their boat to move onto land somewhere. My parents sold their boat that they used every weekend because they thought they wanted to upgrade to a larger boat, only to realize that they really loved their boat and selling it was a mistake. I now have a nephew who is able to walk around (he didn’t even exist when we set off to go cruising). The area around my parents town is almost double in size, with new stores, shopping centers, and streets that make the place look completely different. Lastly, but most importantly, Sammy is no longer around. My pet bird that was attached to me for the past decade is no longer waiting for me to come home. Being how birds are famous for living forever, I figured that I would just leave her in the good care of my parents (they also have pet birds, so they know what they are doing) and go cruising for a few years. I just reached the Portuguese coast and have the entire Mediterranean to sail, but I was already making plans to pick her up as soon as we made it into Floridian waters. Sammy loved boat life because I never had to go to work which meant she never had to be away from me. I knew she would have loved the Florida Keys with their warm weather and fresh fruits! All that is a pipe dream now.
People often said that we would just slip out of the world, cruise around, and then slip back into the world where we left off without anything being different. Nothing ever changes while you are here so nothing will change while you are not here.
I feel like I have returned to an alternate dimension. One that looks similar to where I left from but is just off enough to make me question the very validity of its location in space.
Cruising is a wonderful life experience, it will open your eyes to the whole world that is just beyond your comfort zone. You will be the outsider everywhere you go with stories to tell of your travels across the seas and of distant lands, but those distant lands will be your home when you make your return. When you set off cruising, be prepared to say goodbye to everything because you may never see it again.