Boat Loans in Alabama Starting at $20,000.00 and Refinancing Starting at $75,000.00
Credit Scores 690 or Higher Are Required

As a national lender with over 30 years experience, the team at Chesapeake Financial are not only boat loan experts, we’re boat enthusiasts.

We make boating adventures possible every day in Alabama. Our business is built upon treating each customer with respect and helping them achieve financing for the boat of their dreams. We know how important customer service is, which is why when you contact us, you’ll be speaking with an expert in the field, not an automated system.

 

We’re the number one boat loan lender nationwide and proud of it. We work to ensure that every possible option is considered before making a loan determination. Our fast process also ensures that you’ll receive a response from us within 24 hours. We’ll go farther to qualify you for a boat loan than a bank would ever think about doing. We have the expertise in the industry to secure financing for you and if we can’t get you a loan, we’ll let you know why.

Reasons Our Customers Love Us

Easy Online Application

Utilize our simple application. This allows you to apply for an boat loan immediately with a response provided within 24 hours.

Fast 24hr response

Chesapeake Financial will provide you a timely response within 24 hours of your application. Give us a call or get started online so you can stop wondering and start buying.

Flexible Financing

No matter what your financial background is we will work towards a positive solution. Get in touch today to see what your RV loan options are.

Years of Experience

Trust a team with over four decades of experience. You want to feel confident moving ahead with your financing, and we will get you there with professional reliability.

Important Reasons to do Business with Chesapeake Financial Services

Boating in Alabama

With fair and favorable weather throughout the year, boating is an activity you shouldn’t miss while in Alabama. It’s a place to relax, spend time with loved ones, or fish. Here are some of the locations you should go to if you’re planning a boating trip.

Boating in Alabama

The Tennessee River is a popular spot for boating and water sports because of its mellow waters. You’ll often see numerous travelers and locals at the river during the summer season. One way to enjoy its waters is a river trip that can take several days, touching several spots. There are many overnight lodges, beautiful natural sights, and riverside dining destinations.

boat loans
couple on boat on lake

Chattahoochee River

One of the oldest rivers in Alabama, the Chattahoochee River is an ideal spot for fishing on your boat. You can also spend time relaxing by the peaceful waters while seeing some of the fauna in their natural habitat. The river extends to around 434 miles, flowing out unto the Gulf of Mexico. You can pass by numerous water trails and recreation areas along the river.

Wheeler Lake

Wheeler Lake is a 281-acre body of water filled with many types of fish. It’s a popular fishing spot where you can relax with your friends and family. Some of the fish you can catch here include the Panfish, Walleye, and Bass. During a clear day, you can see a beautiful reflection of nature upon the still waters as you relax on your boat.

man fishing on bow of boat
man boating on lake

Weiss Lake

Take your boat out to Weiss lake and enjoy the sunrise or sunset as you head out to fish its waters. You can encounter different types of species, including striped bass, bluegill, and catfish. There are also numerous recreational facilities and boat ramps along the shores. You can set out and later camp for the night or do some bird watching with fellow enthusiasts.

Other Notable Alabama Boating Locations

Alabama is a great spot to visit for those looking to fish or if you’re an explorer by heart. You can find your share of paradise in their many popular destinations. Here are some other Alabama destinations that may catch your attention. They all have some unique features to offer boaters:

• Lake Guntersville

• Alabama River

• Mobile Bay

• Walter F. George Reservoir

Call for a Consultation!

We play by the rules, but we think outside the box. Why go to a banker when you know he’s only got two things to do: turn you down or approve you. We make every effort to secure a boat loan for you. Your approval is our success.

Boat Loan Amounts

24-Hour Response

Minimum credit score

We Can’t Finance a Boat Loan If You’ve Had any of the Following Events

We realize that things happen in life, but there are some items that lenders don’t look favorably upon. If you’ve experienced any of the following events within the last several years, then we won’t be able to secure a boat loan for you.

boat loans alabama

New & Used Boat Loans in Alabama for Broker, Dealer, & Private Sales

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 in Alabama. 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 in Alabama. If you have any 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.

Down Payment options

  • 10% on boat loans up to $99,999 (depending on the value and age of the boat, possibly even less up to $49,999 on 2017 models or newer)
  • 15% on boat loans over $100,000
  • 20% on boat loans over $500,000
  • No Income verification required on loans under $100k and up to $124999 on boats 2017 and newer.
  • State income program for boat loans as high as $200k with proper credit scores if not self employed.

Interest Rates

The interest rate on a boat loan is based on the age of the boat, the total amount financed, your credit score, and vehicle valuation. We work with you to find the best rate possible for your situation.

Documents You’ll Need

Boats older than 2017 & over $100k requires full documentation including 2 years tax returns and a personal financial statement. Personal liquidity (liquid assets) are an important part of a large loan approval process.Your personal financial statement will need enough liquidity to cover the loan

Give Us a Call

When you call us you'll be speaking with a knowledgeable expert in the boat loan industry. Our goal is to answer all of your questions and help you secure financing if we can. If you happen to call us and we don't answer, leave your name, number, and the we'll give you a call back as soon as we can. We will call you the same day you call us and you will never be left hanging. You may also contact us using our “Contact US” page.

Models Covered Under Our Older Boat Loans

Chesapeake Financial is a national lender that offers boat financing in Alabama on model years up to 20 years in age. Older boat model years are considered on a case-by-case basis and will vary based on the size of the boat loan, the age of the vessel, and your credit scores. Minimum loan amounts on older boats start at $2500.00 We accommodate broker, dealer, and private sales for older boat loans.

Refinancing

There are times in life when refinancing your boat makes perfect sense. Whether you’re wanting a lower payment, a better interest rate, needing to change from joint ownership to single, or simply looking to extend your term, you’ll find that refinancing your boat loan in Alabama is a simple process with Chesapeake Financial. You’ll receive a fast response after submitting your application through our secure portal. If you have any boat refinancing questions, feel free to give us a call. We look forward to speaking with you soon.

Refinancing starts at $75K*

*Based on value

Documents You’ll Need: 

  • Refinanced boat loans require full documentation including 2 years tax returns and a personal financial statement depending on your credit scores. State income refis are available with good credit.
  • Your personal financial statement will need enough liquidity to cover the loan.
four people eating lunch on boat

Call for Rates

Click the button below to call us today and discover your rate.

The Loan Process

1. Find the Boat of Your Dreams

2. Submit an Application.

Once the application is filled out, you’ll get a response from us within 24 hours at most. Usually the same day.

3. Get Approved.

Take your approval loan to the dealer, a private party or a broker. This will improve your purchase power.

4. Complete Your Loan Documents.

After the deal is finalized, contact us for the documents required and we’ll finalize your loan.

5. Funding.

We’ll send the funds overnight to you or the dealer. Wires are available.

6. Jump in Your Boat.

Feel the wind and spray of the open water on your new boat.

service areas

We are a national lender that deals in all of the contiguous 48 states

Check Out Our Outstanding Customer Reviews

My call was returned within minutes — not hours like other places. Phil got me a great loan with a great rate even though we were first time “big boat” buyers. Very happy with EVERYTHING that was done!

 

– MARK MILLS

Great company to do business with and would refer anyone needing a boat loan over to them. Very knowledgeable and will go the extra mile to get you the best rate. Couldn’t be more pleased.

 

– SERGIO GALINDO

Phi is a pleasure to deal with. I have financed two boats with him and he has always made it an easy, quick process. I would highly recommend contacting Phil when shopping for your boat financing.

 

– VITO MANZI

Apply for a New Boat Loan in Alabama Today!

Frequently Asked Questions

The term is based on the value and age of the boat you are purchasing.

Yes, in fact we do 15-20 year boat loans.

Yes, with a simple 5 question conversation. Please give us a call at your convenience.

Interest rates are based on your credit score and the value of the boat you're purchasing. Call us for specifics regarding your situation.

Always within 24 hours and as fast as instantly.

Call us. We will have a few short questions and you’re on your way.

Yes. No prepayment penalties are ever assessed.

Depending on the age and amount borrowed, as many as 20 years in term.

By having good credit and calling us for valuation.