Frequently Asked Financing Questions:
- What are the financing Terms for boats 3 years old or newer?
- 15 year (180 months) max term financing is available.
- Typical Interest rates range from 6.3% - 7.8% Depending on credit ( all rates can be higher or lower)
- Is a downpayment required?
- 10% is prefered but not required
- What are the terms of the financing on pre-owned boats?
- 3-6 year old boats, most of the time will finance 10 years.
- The interest rate varies from 7% - 10%
- 6-8 year old boats vary from lenders from 5-10 years with 7%-10% interest
- 8 year old boats and older are usually 3 year terms with 8%-10% interest
All of these answeres are based soley on past experience and are able to change at any time. Every customer is different therefore there is no way to know exactly what terms will be untill the application is approved by a lending institution.