Lenders set a maximum loan-to-value ratio. Loan-to-value compares the loan amount with the value the lender uses for the boat, and the cap is the most of that value a lender will finance. The cap depends on the lender, the boat’s age, and your credit profile, and the lender decides how it values the boat. If the approved financing is less than the purchase price plus the costs you need to pay, you cover the difference; whether a lender finances above its value, or finances fees, depends on the lender and the program.
We don’t quote loan-to-value percentages on a web page; the lender sets them after reviewing your application. Conventional marine lenders handle units under 25 years old; equity lenders handle older, high-performance and $150,000-plus units, where the down payment is the deal. Every loan is on approved credit and subject to lender approval.
Financing the purchase? See how boat and RV loans work in Arizona, including which lenders fit by the unit’s age and price.
