The answer will depend on your financial history, the condition of the boat, and the size of your down payment. Ultimately, discussing your loan with an Azure Funding Loan Agent is the best way to determine if you will be approved.
Click here to contact an agent or follow this link to learn more about being approved for a boat loan!
Historically boat loans tended to be for shorter periods, but that has shifted and now the average length of a boat loan based on value can be summarized below:
If you are financing a boat that is less than 15-years-old, chances are that you may be eligible to get a loan term of up to 10-20 years. On the other hand, if your desired vessel is older the lender may offer lower terms due to the age.
The best way to determine how long of a boat loan you can secure is to contact an Azure Funding agent by clicking here.
To learn more about which factors affect boat loan term length, check out our article by clicking here.
Though it may seem intimidating at first, the process of applying and securing a boat loan for your dream vessel is quite simple if you are prepared.
The main factors that will affect your boat loan application will be your financial situation, credit history, condition of the boat, and the downpayment amount.
By having your financial history ready, the application process will be easier as well as your loan agents ability to secure your loan in a timely manner.
To learn more, read our full guide on obtaining a boat loan by clicking here.
If you are prepared and well-qualified when you apply to finance a boat, lenders could offer you a same-day loan with an interest rate and loan terms that work for you. If a survey or additional credit approvals are needed, the process can take anywhere from a few days to weeks.
To learn more about how long it can take to secure a boat loan, click here!
Financing older boats is not that much harder than getting a new boat loan. There are just a few extra steps to take and some general eligibility criteria you should be aware of. The age, condition, length, and current valuation of the boat will be factors that impact how hard it is to secure used boat financing.
To read our full guide on securing a used boat loan, click here!
The process for securing a boat loan is relatively simple and easy. The basic steps include finding the boat you want to finance, applying for a loan, and being approved.
To read our full guide on the steps required to obtain a boat loan, click here.