We are happy to assist you in finding the best financing options for your new or pre-owned boat purchase!
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Frequently Asked Questions
What are your interest rates?
While we have access to the most competitive rates in the marine industry the interest rates vary based on a number of factors including but not limited to: the amount you are financing, the age of the unit, and your credit history/score.
Do I have to document my boat?
For boats over 30' in length and/or loan amounts over 100,000 the lenders may require US Coast Guard documentation. We will include those documents in your closing package and facilitate that process so that it is taken care of for you.
What are the terms for boat loans?
These are some general guidelines for terms: 10,000 to 24,999 = 144 months 25,000 to 49,999 = 180 months 50,000 to above = 240 months These terms could change based on the age of the unit or credit.
How much will I have to put down?
Most banks look for a minimum of 10% down with that amount increasing for loans over $200,000. It is possible on loans under $100,000 and with approved credit to qualify for no money down.
How long is my approval good for?
Generally, approvals are good for 30 days. It is usually possible to have that approval time extended in the case of an ordered unit or other extenuating circumstance.
How long will it take to get an approval?
Approval times can vary based on the size of the loan or the complexity of the credit history. Often it is reasonable to expect an approval the same day while some applications may require more time.
How do I apply?
There are a few ways that you can choose from to get started with your loan application. You can complete an application online or you can download a printable version that can be emailed or mailed to us.
Give us a call at 305-664-0064 if you need any help filling out the application or have general questions about the loan process. We look forward to helping you get on the water.