Boat Loans Starting at $35,000.00

Whether you’re a first-time boater or a lifelong enthusiast, Chesapeake Financial can secure funding for your boat purchase. We offer the best loan rates, terms, and exceptional customer service that you’ll be hard-pressed to find anywhere else.

The boat loan application process is simple. We always protect your credit file and secure a boat loan that fits your budget. Our process ensures a seamless transition from application to funding for your next boat. We even supply guidance on how and where to title your boat. If you have questions at any time, we’re only a phone call away. Check out our loan information below and give us a call to get the process started. 

Our minimum down payments for New & Used boat loans are:

• 10% on boat loans up to $99,999 (depending on the value and age of the boat, possibly even less up to $50,000.00
• 15% on boat loans over $100,000
• 20% on boat loans over $500,000
• No income verification required on boat loans under $100k and up to $124,999 on boats 2018 and newer.

What you should know about Chesapeake Financial’s boat financing. We do not finance boats that are older than 20 years of age. Boats older than 10 years of age require credit scores of 740 or higher and proper valuations. Loans on boats older than 15 years  old start at $50,000 and base wholesale values that must be a minimum amount of $50,000 or higher. Credit scores over 740 are also required for boats older than 10 years old. Rates will vary with credit scores.

Trade equity does count towards your down payment, so talk with us about your options. Income verification is not typically required on most boat loans under $100,000 on units 15 years old and newer and up to $124,999 on model years 2018 and newer.

Boats older than 2018 and over $100,000 normally require full documentation including 2 years tax returns and a personal financial statement. Exceptions may apply.