We make boating adventures possible every day. Our business is built upon helping customers get the boat they want and a boat loan that works for them. Want the boat of your dreams? Look no further than Chesapeake Financial for great boat loans in New York. 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.
Are you a self-employed business person looking for a no-income verification boat loan? At Chesapeake Financial, we specialize in no proof of income loans to help you acquire the boat you want.
A no doc loan means the borrower doesn’t have to provide the lender with standard proof-of-income documents such as tax returns, paychecks, or W2s. We may verify your income through earning statements, savings, assets, stock holdings, and more. Traditionally, self-employed no-income verification boat loans have larger down payment requirements and higher interest rates.
Over the last 32 years in business, we have become accustomed to the trials of the self-employed not having proof of income documentation. Well now we have the answer. If you do not have sufficient ability to prove your income but still maintain a high credit rating, we have more than one way of obtaining up to $199,999.00 even if you can’t. We can also overcome the lack of personal liquidity up to $299,999. That means that even if you can prove your income but lack the large savings or investment accounts that most lenders require, we can help there as well. Please feel free to give us a call to discuss these options.
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.
Outside of the concrete jungles and the hustle and bustle of New York City, you would never guess that New York state can offer so much more. New York is home to an abundance of stunning waterways, including hundreds of streams, rivers, and lakes for boaters to enjoy.
Every year, a festival is held on Skaneateles Lake in honor of various kinds of boat craft, including antique and vintage vessels. As one of the Finger Lakes, the Skaneateles is loaded with scenic beauty and offers clean and fresh waters which the surrounding towns use as an unfiltered and pure drinking source. This lake is home to plenty of fish, including small-mouth bass, Atlantic salmon, rainbow trout, and yellow perch.
If you’re looking for a quieter and more personal retreat, all you need to do is head west from Skaneateles Lake to Chautauqua Lake. This scenic body of water serves as a refuge for boaters of all kinds, as well as paddle boarders and kayakers. With 17 miles of water to enjoy, there’s plenty of things to do here, including boating, sailing, and fishing.
While it may seem like one lake, Saranac Lake is actually a series of lakes that are connected for 24 miles. Its ideal location takes travelers through some of the most scenic areas of the Adirondacks. You'll find many launch sites here, which provide quick access to the water, along with various beaches and small islands. In September, tourists flock to watch the three-day Adirondack Canoe Classic 90-Miler Race. But if you’ve come for the fish, the Saranac Chain of Lakes offers various fishing spots that are perfect for catching large-mouth bass, brown trout, and northern pike.
The Atlantic Ocean is the second largest body of saltwater in the world and covers twenty percent of the Earth's surface. It is home to an astounding number of coral reefs and has a number of aquatic wildlife including sharks, dolphins, whales, sea turtles, and manatees. There is an entire mountain range, known as the Mid-Atlantic Ridge, buried beneath the Atlantic Ocean. Whether sailing, fishing, or relaxing, the Atlantic Ocean is a go-to vacation spot that doesn't disappoint.
With so many choices in New York, there is a place that matches your taste. You can head out for a peaceful vacation or have the time of your life exploring while cruising in your boat among lakes or coastal waters. It’s one of the best ways to spend time alone enjoying nature while fishing or bond with loved ones. Here are a few other places you might enjoy in New York
• Seneca Lake
• Keuka Lake
• Lake Erie
• Lake Ontario
We also offer services in other states:
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.
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.
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 New York. 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 New York. 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.
New and used boat loans begin at $35,000 and go as high as $22 Million. We do not finance boats that are older than 20 years of age. Interest rates vary by credit scores, age of boat, and equity positions. The wholesale value must be $50,000 or higher on boats older than 15 years of age and by no means, can we finance boats that are older than 20 years of age. We do not finance boats not listed in the NADA or BUC Value guides. Please refer to the section on what boats we can and cannot finance and the required down payments section.
Down Payment options
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 2018 & 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
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.
Chesapeake Financial is a national boat loan lender that offers boat financing in New York on model years up to 20 years in age. Boats older than 15 years of age 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 and are based on wholesale valuations. Minimum loan amounts on boats older than 15 years of age start at $50,000. We accommodate broker, dealer, and private sales.
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 New York 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.
*Based on value
Once the application is filled out, you’ll get a response from us within 24 hours at most. Usually the same day.
Take your approval loan to the dealer, a private party or a broker. This will improve your purchase power.
After the deal is finalized, contact us for the documents required and we’ll finalize your loan.
We’ll send the funds overnight to you or the dealer. Wires are available.
Feel the wind and spray of the open water on your new boat.
service areas
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
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.
