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Boat Loan Rates and Terms

BoatUS has been a leader in marine lending for over 35 years. We offer excellent rates and outstanding customer service to make the purchase or refinance process stress free. Please review the loan rates and terms below before filling out a free online application or paper application.

Current Boat Loan Rates (New, Used and Refinance)

APRLoan AmountMaximum Loan Term
4.50%$350,000 plusUp to 20 Years
4.37%$75,000 - $349,999Up to 20 Years
4.62%$54,601 - $74,999Up to 15 Years
6.25%$25,000 - $54,600Up to 15 Years

Please Note: All rates are fixed with no prepayment penalties. Rates are 1% higher and loan term will be reduced for boats with model years between 1996-1987.

Loan Terms:

Minimum Value and Finance Amount:

The boat value and purchase price, excluding taxes or a trailer, must be at least $29,412 in order to meet the $25,000 loan minimum after the down payment is made. Loan minimum is $41,000 in Illinois, $75,001 in Wyoming and $25,001 in Wisconsin.

Down Payment:

Standard down payment is 15%. A 20% down payment required for multi-hulls and a 25% down payment required for houseboats.

Boat Age:

Financing is available for boats up to 1987 model year. Maximum model year for multi-hulls is 2002 or 2007 for houseboats.

Additional Guidelines:

Financing is not available in Hawaii, Vermont or Puerto Rico. Boats must be for recreational use only (no live aboards, charter or commercial use.) Boat must be registered in the United States and the boat, buyer and seller must be in the continental United States.

Rate Discount:

For boats within 15 model years (2002 or newer,) rate discounts of up to .75% are available based on loan term, down payment and credit score.