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Chart Your Course.
Finance Your Dream Boat.
Whether you are eyeing a family pontoon, a deep-sea center console, or upgrading to a luxury cruiser, secure low-rate marine financing and get out on the water faster.
New, Used & Private Sellers
Finance a brand-new vessel straight off the showroom floor, or secure a loan for a used boat from a private party seller.
Extended Terms Keep Payments Low
Unlike auto loans, marine financing offers extended terms (up to 15 or 20 years for larger loans) to ensure your monthly payment fits your lifestyle.
Finance the Whole Package
Don't pay out of pocket for necessities. Roll the cost of the boat trailer, upgraded electronics, and marine covers directly into your loan.
Check Your Rates
Compare custom rate quotes from top marine lenders. Checking your options will NOT impact your credit score.
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Marine Payment Estimator
Boat loans are unique because terms can stretch up to 20 years. Input your targeted vessel price below to find the monthly payment that fits your budget.
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Include taxes, dealer fees, and trailer.
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Marine lenders typically require 10% to 20% down.
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Projected Loan Costs
Estimated Monthly Payment
$475
Fixed Monthly Cost
Total Loan Amount
$40,000
Amount Financed
Estimated Total Interest
$16,976
Cost of Borrowing
Financing Your Boat: Know Your Options
Understand the difference between securing a specialized marine loan and taking out an unsecured personal loan.
| Feature | Secured Marine Loan | Personal Loan | Dealer Financing |
|---|---|---|---|
| Collateral | The boat itself acts as collateral. | None. Unsecured signature loan. | The boat itself. |
| Term Lengths | Long (Up to 15-20 years for large loans). | Short (Usually capped at 5-7 years). | Varies based on lender network. |
| Interest Rates | Generally lower (due to collateral). | Higher (unsecured risk). | Sometimes marked up by dealer. |
| Private Seller Purchases? | Yes. Buy from anywhere. | Yes. | No. Must buy from dealer inventory. |
Boat Financing FAQs
It depends on the age, size, and price of the boat. Generally, if you are purchasing a used boat that is older than 10 years or costs more than $100,000, lenders will require a professional marine survey and condition report to verify the value of the collateral before funding the loan.
For smaller boats, a standard state title and registration are sufficient for the lender. However, if you are purchasing a larger vessel (typically over 25 feet or 5 net tons), many lenders will require the boat to be officially documented with the U.S. Coast Guard, as it provides a higher level of security for their lien.
Surprisingly, yes in some cases! If your boat has a galley (kitchen), a head (bathroom), and a sleeping berth, the IRS may classify it as a qualified second home. This means the interest paid on your boat loan could potentially be tax-deductible just like a mortgage. Always consult a tax professional to verify your specific eligibility.