Northstar Marine Insurance explains why now is a good time to buy a boat in Ontario

Category: Finance

With the Canadian dollar so low, some would say now is not a good time to buy a boat but Northstar Marine Insurance says it’s not all doom and gloom. With lineups as long as ever at the Toronto Boat Show, it’s obvious boat buyers are still coming out. Northstar Marine Insurance isn’t alone in it’s optimism. Here are some quick notes as to why now is a good time to buy a boat. 1. Northstar Marine Insurance is quick to point out that all indicators point towards an increase in financing rates. If boat buying is on your radar, now is a good time to jump on board before a rate hike makes the cost of borrowing higher. 2. Some economists are predicting a further drop in the Canadian dollar as oil prices continue to fall. While this is daunting, Northstar Marine Insurance reminds boat buyers that, while the dollar may be affecting the price of boats today, it may affect it even more in the future. Act now! 3. Northstar Marine Insurance reminds us that boating is a fantastic pastime and it’s in our own backyards! Instead of crossing the border for your family vacation, spend your holiday on Ontario’s beautiful lakes and waterways. The exchange rate wont’ get you down when you’re fishing with the kids. 4. Gas prices are lower than they have been for a long time so get out on the water. For several years, the price of gas has been a deterrent for boaters, but not any more. Northstar Marine Insurance encourages you to take the plunge and choose life on the water. Sure, it’s a big decision to buy a boat and sure, the dollar is low and markets are volatile, but when you’re cruising through pristine waters with the sun beating down, chances are you won’t even be thinking about it!