Are you ready to get the boat or motor of your dreams but not ready to pay the whole amount out-of-pocket? Or you may have the funds but would like to keep your hard-earned cash. Here at Boat Specialists, we are committed to helping you achieve your boating dreams as quickly and smoothly as possible. A brand new Ranger Tug Cabin Cruiser or pair of twin Yamaha Offshore Outboards may be more attainable than you think!

The majority of boat buyers finance their boats because the truth is that boats and motors are expensive. With financing, you can pay those big ticket items over time with a more manageable payment option. The Marine Financing process is similar to financing a car or a home, but Marine rates versus home/car rates are like night and day. In the traditional sense, buying a boat is buying a lifestyle, while buying a home/car is a necessity to live and provide for yourself. Since boats are not deemed necessary (unless it is your job), the rates for Marine units are typically higher than what you will see for a car or home. The resale value of a boat and/or motor is difficult to forecast, which also influences the way lenders finance Marine units. Keep this in mind when applying for a boat loan or a repower loan.

There are multiple ways to apply for a marine loan, but the most traditional one is going through your Marine Dealer. Boat Specialists Finance Department’s goal is to make the financing process as quick and as stress-free as possible so you can enjoy your new boat and/or outboard motor as soon as possible. We take pride in the exceptional personal service we deliver to every applicant. We are not a lender - we only help you find the best rate/term option based on your individual credit report.

To get started, you would begin by working with one of our Sales Team Members to get a quote for what you need. Next would be working with our Outfitting team to get any extra bells and whistles you may need to complete your purchase. Once all of that is completed, you will fill out our Marine application and provide a photocopy of your driver’s license. In most cases, not all, you may need to provide proof of income such as tax returns or pay stubs and proof of residency such as a current utility bill or bank statement. Interest rates will depend on many factors, including the current market conditions and your individual credit report rating. Depending on the amount being financed, the boat and outboard you are looking to finance, and your credit profile, plan to put anywhere between 0-20% down. Terms range anywhere between 48 months to 240 months depending on units, the amount being financed and your credit report.

Now, we know all of this information may sound daunting, but it is not as scary as it sounds. We will make the process as easy and as pain-free as possible. Once you are out on the water in your new Boston Whaler, making memories with your family and friends, you will be thankful you decided to do it sooner rather than later with financing.

Reach out to the Boat Specialists Sales Department at 805.644.6290 x 1 to get started on a quote for your new boat and outboard motor today! Or visit our Financing Page to fill out a Loan Application. 

*There is a $200 doc fee added to all deals financed to cover expenses incurred for filing, processing, mailing, etc between dealership and lenders. This fee is financed into your loan.

**Out of State Customers: It is Boat Specialists goal to be able to offer financing to all of their customers no matter where they reside. Lending options are determined based on location, dollar amount and the manufacturer(s) of the collateral. Some restrictions apply. Please reach out to our finance department if you have questions on whether or not we can assist you with financing.