While few are immune to the exhilarating allure of cutting across the water on a speeding jet ski – the wind in your face, the spray popping up against the hot sun – one of the most significant barriers of entry for riders can be figuring out how to afford such a luxury. New jet skis can cost anywhere from $5,000 to $20,000, with luxury models going even beyond that. Of course, not everyone has to purchase a jet ski to enjoy it, with renting becoming an increasingly popular market at marinas worldwide, but even then, the daily price adds up.
For anyone who really wants to get into jet skiing, buying one can be a great long-term investment, and more accessible than some might think! A recent piece at Yahoo Finance details some of the ways to finance a PWC, making it an accessible financial decision for both first-time buyers and those looking for an upgrade.
Yahoo Finance suggests four possible pathways for financing a jet ski: taking out a personal loan, using a credit card, a personal watercraft loan, or manufacturer financing. While you can read the full write-up at Yahoo Finance for more details on each option, there are several important factors to consider while choosing.
For example, the interest rate for each option can vary widely, with some credit cards or manufacturers offering a 0% interest rate for a certain period of time, while other options can reach upwards of 12%. Some options for financing also have lower limits on the amount you can borrow, which may limit your options. Lastly, it’s important to consider the repayment term for a loan, as some limits might make monthly payments less affordable.
If you’re in the market for a new jet ski and want to consider a financing option, check out Yahoo Finance’s write-up for a comprehensive guide to your available choices!
