This calculator provides an estimate only and does not constitute a loan offer. Actual repayment amounts may vary depending on your individual circumstances and lender terms. Calculation includes 30% balloon.
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Absolutely. We offer finance solutions for businesses acquiring commercial vessels, including fishing boats, charter boats, tug boats, passenger ferries and boats for other types of business use. Get A Quote.
Yes, we offer financing options for individual consumers looking to purchase boats for personal use, such as pleasure crafts, yachts, sailboats and jet skis.
We can secure finance for commercial vessels, pleasure crafts, tug boats, passenger ferries, fishing boats, yachts, sailboats, jet skis and more. Contact our team for more information about the many marine vessels we can finance.
Boating loan terms typically range from 2 to 20 years, depending on the type and age of the vessel, as well as your financial profile and preferences.
Interest rates vary based on the lender, the loan amount, the type of vessel and other factors. With access to more than 40 lenders, our rates are competitive. Get A Quote from our friendly Finance Brokers.
Yes, many lenders offer pre approval, which helps you to understand your borrowing capacity and budget before you start shopping for a vessel.
While some lenders may offer 100% financing, most require a down payment, typically ranging from 10% to 30% of the vessel’s purchase price.
Yes, both new and used boats can be financed. However, the age and condition of the boat may affect the loan terms and eligibility.
Additional costs can include loan origination fees, surveyor fees, insurance, registration and maintenance costs. Discuss your quote with your Broker to make sure to factor these into your budget.
Required documents typically include proof of income, tax returns, bank statements, personal identification and details about the vessel (eg. purchase agreement, survey report).
Yes, refinancing options are available to potentially lower your interest rate, reduce monthly payments or change the loan term.
Yes, most lenders require comprehensive boat insurance to protect their investment and ensure the vessel is covered in case of damage or loss. Our insurance team can arrange this for you.
The approval process usually takes a few days, depending on the lender and the completeness of your application.
Yes, contact us to discuss your options.
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