An Easy-to-Follow Process
Step 1 – Fill out an application
If you are already at a dealership we partner with, they will provide you with the right paperwork. If not, you can begin your online application. All we need is the salesperson’s name and a buyers’ order or a purchase agreement number.
Step 2 – Get approval
We will bring your application for credit to a number of banks and negotiate the best rate and terms. The good news is that, when approaching new dealers, the first thing we do is ask for a list of denials they’ve had in the past. We’ve been able to demonstrate that 20% of them could have been approved with our negotiation skills.
Step 3 – Contract
If you accept one of our options, we contact the dealer and begin the contract process. Remember that the financing process can be as quick or as slow as you need it to be; we work on your timeline, not ours. We can get you an approval in a few hours if you need it.
When you apply for a boat loan, you want it to cover the vehicle you’ve chosen. When you purchase a boat from a dealership, you can see and touch it. If you purchase a boat online, in a place like Craigslist or Facebook Marketplace, you cannot see or touch your new vehicle. So how do you know if your new boat is real? You don’t. Transactions between individuals on Facebook Marketplace and Craigslist carry a high risk of fraud. That’s why we don’t secure loans for online boat transactions between individuals. We could face consequences for financing boat sales that turn out to be fraudulent, and most lenders avoid these transactions for the same reasons. If you go through a dealership when you buy your boat, you can access a loan more easily than if you buy online. Why? Because a transaction dealership is more likely to be legitimate.