Coastal Lowcountry Spotlight
Get That Second Opinion First: Financing Your Coastal Lifestyle in South Carolina
Charlie Hamlin
For many of us in South Carolina, owning a boat isn’t simply about making a purchase. It’s about pursuing a lifestyle. From an early morning run across Charleston Harbor to fishing the Lowcountry creeks, heading offshore or spending an afternoon with family and friends, getting on the water is part of the South Carolina coastal lifestyle.
But before you start shopping for that new or used boat, Charlie Hamlin of Sterling Associates has a piece of advice that might save you money—and help take some of the pressure and emotion out of one of your larger financial decisions.
Get that second opinion first.
“It’s important that people come to us before they start shopping,” Charlie said. “Then they’ve got an idea of the rates and terms they’re looking at and what they can get qualified for.”
Born and raised in Charleston, Charlie attended Clemson University before returning home to the Lowcountry. He originally studied biology and considered a career in medicine before moving toward sales and ultimately marine financing.
Four years later, he says one of the most rewarding parts of the job is helping people turn the dream of boat ownership into reality. If you’re out there enough, you’ll run into Charlie in his Key Largo, life on the water is key here.
“I get to help people live out their dreams finding boats,” Charlie said. “And I get to talk to them about these incredible boats every day.”
Know Your Boat Financing Options Before You Shop
Buying a boat can be emotional. You’ve found the right center console, bay boat, skiff or offshore fishing boat, you’re picturing the first trip, and suddenly the conversation turns to financing.
That’s exactly why Charlie recommends understanding your boat financing options before walking into the dealership.
Charlie says “Sterling Associates has 35 years of superior customer service and works with more than 20 lending institutions”, giving him the ability to explore boat loan options for buyers throughout South Carolina with a wide variety of financial circumstances.
Loan amounts can start around $10,000, with some flexibility, while he also handles substantially larger transactions. Depending on the loan amount and lender, terms can extend as long as 20 years, potentially making a larger boat purchase more manageable on a monthly basis.
Financing isn’t limited to new boats, either. Charlie says some lenders will consider boats as much as 30 years old, although marine surveys and individual lender requirements can become important parts of the process.
In fact, a survey can provide another layer of protection for the buyer.
“It is very rare that we see a survey come back and the bank decline the survey before a customer gets a survey back and says, ‘I don’t want to buy this one anymore,’” Charlie said.
Take the Emotion Out of the Financial Decision
Perhaps the biggest advantage of talking with a marine financing specialist first is simply knowing your options before you shop.
Understanding your potential buying power, rates and terms—or even having an approval in hand—can provide valuable perspective when negotiating with a private seller or boat dealership.
It allows you to concentrate on finding the right boat for your coastal lifestyle, rather than making an important financial decision in the excitement of the moment.
Charlie also makes the process personal. Rather than requiring customers to visit a traditional bank branch, he can discuss financing by phone or meet locally at a customer’s home, office or even over a cup of coffee.
“We can just discuss things as needed and adjust variables for what works best for you,” he said.
Whether you’re considering your first fishing boat, moving into a larger offshore platform, buying a used boat or finally purchasing the boat you’ve dreamed about for years, Charlie’s message is simple:
Get that second opinion first.
Know your financing options. Understand your buying power. Then go find the boat that gets you where you really want to be… out on the water, living the South Carolina coastal lifestyle.
Charlie can help you with:
New boat purchase
Used boat purchase
Refinance at prime rates
Private sale boats (even working with the sellers
Finance company to ease the transaction)
Surveys to assess value before your investment
To get your purchase started contact Charlie Hamlin
(843)709-6364 Charles.hamlin@unibank.com