AUTOMATE YOUR BOAT/YACHT LOAN WITH OUR VEHICLE MAXIMIZER AND KEEP STROLLING DOWN THE WATERWAYS.
A Biweekly or Loan Acceleration Plan Can Save You Thousands in Unnecessary Bank Interest.
|Payment Option||Years to Pay Off||Months Saved||Total Cost of Loan||Total Interest Paid||Total Interest Saved||Net Effective Interest Rate||Percent Interest Saved||Future Wealth*|
|Standard monthly Payments||15.00||0||$287,532.97||$85,532.97||$0.00||5%||0%||%0.00|
|Biweekly with additional||12.25||33||$270,055.67||$68,055.67||$17,477.30||3.98%||20.43%||$52,714.20|
|*Future Wealth equals principal and interest times number of Months saved|
The illustration above uses an example of a 15-year, $202,000 YACHT loan at 5%. Interest savings and term reduction does not include BWMA fees of $3.95 per debit. Savings and Future Wealth is accumulated over 13 years. Option #2 adds an additional $50 every two weeks.
THE BOAT/YACHT ERASER TOOLKIT
The BOAT/YACHT ERASER TOOLKIT includes the enrollment of one loan: Accelerated payment strategies can get you to full ownership of your vehicle sooner and also help you save on costly interest payments. Rest peacefully knowing you’re in control of your finances with no more late payments or paying unnecessary bank interest.