10 Year Boat Financing

Once your application is completed our team of boating experts.

10 year boat financing.

Loan payment and apr will vary based on the loan amount the term and any fees. Simply enter the loan amount term and interest rate in the fields below and click calculate. Higher loan amounts often equate to longer boat loan terms. Suntrust marine loan specialists can help you find the right loan today.

Term length is usually 15 to 20 years. This boat loan calculator will help you determine the monthly payments on your boat loan. We offer flexible financing terms and some of the best boat loan rates. Our bankers will work with you to help you purchase a new or used watercraft or even refinance a current boat loan.

For typical boat loans you can expect to pay between 10 and 25 of the purchase price as your down payment. This upfront savings however is usually compensated for with higher interest rates. Most boat loans are for 15 or 20 years and often there is no penalty for pre payment. Longer terms mean lower payments but also more total interest paid.

Now that you ve decided to set sail on a new boat it s time to consider your financing options. Keep in mind that a down payment is typically 15 20 and is required by many lenders. It s possible to get a three month reprieve from payments after the initial purchase with a 90 day deferred loan which may very slightly increase monthly payments for the loan duration. Use our boat loan calculator to calculate your monthly payment based on loan amount and boat loan term length.

And with quick approvals and easy boat financing you may as well visit the branch with your boat shoes on. A prepayment penalty of 1 of the original loan amount applies if the account is closed within 1 year with a 50 minimum and 100 maximum. Visit the boat loan calculator to determine a monthly payment that s right for you then fill out the online loan application for our lending partner to underwrite this process takes about 10 15 minutes. On average boat loan lengths range from 10 15 years.

Rates start at 4 50 apr but are slightly higher for older models. A 25 000 boat loan at a 48 month term monthly payment would be 578 45 and apr of 5 24. For example if you have a loan in the 25 000 range you may be able to finance it for 15 years. First tech federal credit union offers secured boat loans up to 500 000 for new or used boats up to 10 years old.

Loans are available from 25 000 for boats model year 1991 and newer.