Gary Eskew

For years, Formula Boats has been the leader for low-rate boat loan financing.  The latest financing incentive that they are offering provides customers with the opportunity to get even more boat for less money.  The Formula Escape Financing Program offers customers the first 30 months of their loan interest free.  Yes, interest free. And, at Arrowhead Boat Sales, when we say 0%, that means absolutely no interest.  Not a penny extra!

How can this possibly work?  Well, it’s a creative way for consumers to get as much boat as possible for their money.  If all of the money spent goes toward the boat, and not toward interest, you can get a bigger, better boat for the same price.

With the typical boat loan having a 20-year term, but the average boat owner keeping a boat for only five years, those folks that are interested in continually upgrading their boats will find this program almost like cheating the system; you’re only paying principal on your loan.

After getting the first 30 months of the loan interest-free, the interest rate does finally kick in, but it’s still only at a rate of 6.99%–which is still not too bad.  The payments adjust to reflect the difference.  This is the only adjustment that will be made in the payment amount over the life of the loan.  At this point, maybe it’s time to start thinking about your next upgrade, if there’s no interest, then there’s nothing to lose!  Even if you keep your boat for the average five-year span, you will still be paying very little interest overall and have more equity in your boat.

This type of financing should not be considered to be a variable loan rate, just a financing incentive program offered by Formula to help customers get the most boat for their buck.  You really can’t go wrong with this financing deal, since every dime that you pay for the first 30 months goes directly to paying off the principal of the loan.  This increases your equity in the boat rapidly.  Think about how much this affects your resale or trade-in value; you’ve put your own money right into your boat, and not in the pockets of the financing company.  After 30 months, you would have paid off a whole lot more of your loan than if you were paying interest.  Nearly half of your payments would be applied to interest—money lost.

You’ve probably heard the saying, “You get what you pay for.”  Well, in this case, you really do get what you pay for—you actually get more boat for your money with the Formula Escape Finance Program.  Pay for the boat, and just the boat—don’t just send your interest to the bank each month.  Get the best boat that you can afford, without worrying how much your payment will increase because of interest.  It’s almost like getting more than you pay for!  Check out your options for creative boat financing, and make sure you check out the Formula Escape Financing Progam.