Boat Loans in Indiana Starting at $35,000.00 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 Indiana. 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 a 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 boat 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 Indiana

Indiana is one of the best states to go to during summertime. You have majestic lakes, numerous fishing spots, and beautiful skies. If you’re looking for a relaxing time out on your boat, this is the place to be. Here are some of the places you may want to spend the day boating:

Morse Reservoir

Twenty miles away from Indianapolis, you’ll find this beautiful reservoir. It’s an escape from the usual metropolis and one of the best lakes in the area for boaters. It encompasses 1500-acres, encircled by beautiful homes and nature. You can relax and spend the day here taking nature in.

boat loans
couple on boat on lake

Lake James

Residing in northern Indiana, you’ll find Lake James within Pokagon State Park. It is one of the best places for a scenic boat ride, watching the sunset, and spending time enjoying the water. It has the nearby Potawatomi Inn Resort if you want to spend the night. The water is a beautiful blue surrounded by the area’s lush green.

Lake Monroe

Near Bloomington is this beautiful retreat that’s perfect for avid boaters. With almost 11,000 acres of water, you can spend days here and not see everything. There are cabin rentals nearby if you want to stay the night and parks with amenities. Watch a beautiful sunset to close out another great day on a gorgeous lake.

man fishing on bow of boat

Other Notable Indiana Boating Locations

There’s a place to go to for all types of boaters in Indiana. There are fishing spots, swimming areas, and even places you can waterski. With so many lake options, it’s the perfect place for outdoor lovers and boaters. Spend some time here, and you won’t regret it. Here are some you may want to visit too:

• Patoka Lake

• Lake Wawasee

• Lake Tippecanoe

• Maumee River

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 indiana

New & Used Boat Loans in Indiana 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 Indiana. 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 Indiana. 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 is 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 2016 & over $100k normally requires full documentation including 2 years tax returns and a personal financial statement. Exceptions may apply. 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 Indiana 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 Indiana 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 Indiana 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.