How many of us dare to dream of owning a boat? Isn’t it just for rich people? If you are a financially comfortable homeowner, you can own a boat with the right financing options.
Boats are not just for recreational purposes. You can use a marine vessel to launch a small business and solidify your income. To do any of this, you need a great lending option (unless you are a millionaire). This is where smarter payday loans come in. Let’s look at Smarter financing options for boats for Canadians:
Boat Financing and Leasing Options Overview
Boat leasing is a common enough practice in Canada. Smarter Loans is not itself a direct lender. Rather, this service connects you to a number of leasing and financing providers in any area of your choosing. All lenders are based in Canada, so you can be assured that they follow Canadian law.
This service exclusive serves only financial options for leasing marine vessels, like yachts. You can apply directly from the website even. If you do so, the site would connect you with a lender based on the information you provided.
About the Smarter Lending Service
The company takes care to show that it is not a lender, but only a financing facilitator. You can purchase a number of small time loans here. Other than for boats, you can find financing for things like vehicles, farm equipment, trucks, and businesses, among other things like debt consolidation loans. Essentially the service focuses on significant, but small, lending options for Canadians.
The company has over 30 lenders signed up. According to the company, the qualified roster includes financial specialists and journalists. The Smarter Loans site isn’t directly affiliated with lenders. But they do charge a fee for these businesses to offer services or market on the website.
The Application Process
You can apply or “pre apply” for a loan on the site. Applying essentially involves connecting with a lender and making your case. The “pre application” process involves submitting an online form on the site.
Then the site automatically connects you with suitable lenders based on the info you’ve provided. But “pre application” is slightly different from actually applying. Once you are connected with a lender, you have to properly apply for a loan.
The site provides a good amount of information about lenders. Each lender has a profile including loan offering plus interest rates. You can find out crucial information like length of lending term, required documents, and other fees as well. In most cases, the site provides information for eligibility as well. All lenders are categorized based on the geographical areas they service.
Who Should Use It?
Obviously, if you want to buy a boat, this site could connect you think private lenders in your area. Do note that no banks are listed. So the site is a great option if your loan request was rejected by a bank.
Also, this is not a sleazy money scamming website. It’s more of a lender and borrower networking site. So there’s more freedom for users to choose without being entrapped by marketing language.
Overall, the site looks quite promising for regular Canadians in need of financing for specific purposes. It’s at least worth checking out.
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