Your boat may qualify for the same IRS tax advantages that are available for your home. And by financing your purchase, instead of liquidating assets or paying cash, you increase your financial flexibility. This enables you to take advantage of attractive new investment opportunities as they come along…and the earnings from these investments can easily exceed the cost of your marine financing. In the end, your boat may cost less by not paying cash. Please consult a tax advisor for more information.

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A lender who specializes in boat loans will normally be your best source for financing your new vessel as they understand boats and are familiar with all the paperwork and documents involved. Most boat loan lenders will do a pre-approval for you which will give you the budget parameters within which you can work. This should increase your negotiating position with the dealer or seller.

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Our general feeling is that a shorter term has many advantages. However there are a number of individual factors that should be considered. Basically, a shorter term loan will build up your equity in the boat quicker. Down the road this translates into more money in your pocket when it’s time to sell. Also, a shorter term can possibly get you a lower rate. Another view point that is also beneficial is to take the longest term possible which gives you the lowest payment. You can always pay a greater amount monthly and have a smaller a payment to fall back on if you go through a period where you need extra funds.

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There is never an application fee. The only fee collected by Offshore Financial at the time of closing will be the cost of Coast Guard Documentation (if applicable) and/or a State Titling fee (if applicable) and a small processing fee.

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Once we have your complete package, it only takes us 1-2 business days to give you a formal, written credit approval decision. Credit approval is usually good for 30 to 90 days. Rate commitments are typically good for 30 to 60 days.

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Simply click LOAN APPLICATION and apply now!

Or you can call one of our offices and we will personally take your application over the phone and answer any questions you might have.

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We can offer you a number of refinancing options.

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