Happy Riding Season
Simple Boat & Watercraft loans
From jet skis to pontoon boats, our process will get you on the water with ease.
Zero down required for most approvals with the top lenders and interest rates in Canada.
Transparent fees & cost. Don't get caught off guard with extra charges from our competitors.
Bad credit boat loans with one of the highest approval rates in Canada.
Shop & negotiate as if you have cash in hand. Buy any major model boat, new or used.
Sail smoothly: Our easy process makes boat financing easy.
Apply online to get approved
Receive your marine financing approval back within one business day. This will outline your interest rate, cap (if set), and give you an estimate on what your payments will be.
Choose a boat that fits you
Shop any local marketplace or dealer for the best deal to fit your budget. We charge 10% markup on the purchase price and a $499 doc fee to facilitate the financing. Simple & up-front.
We buy it.
You own it.
We'll send you all of your documents remotely and arrange for payment directly to the seller. Once they confirm payment, you're free to pickup your new boat. Congrats!
Frequently Asked Questions
What credit score is needed to finance your next boat? No minimum credit score is required to secure a boat loan in Canada. Lenders typically evaluate your full credit history in addition to credit score when deciding whether to grant you a loan, including prior payment history, debt service ratio, and length of employment.
What interest rates are available for boats & jet skis? You can get a new or used boat & watercraft loan with the best rates starting at 9.9% interest with the most reliable lenders in Canada. The rate ranges for a loan are typically between 9.9% and 11.9% with excellent credit, 12.9% to 16.9% with average credit, and at minimum 19.9% with bad credit.
What term lengths are offered for marine financing? Our lender will help to structure your boat loan payment based on your goals and affordability. Most boat loans are usually offered between 5 and 8 years. Some lenders offer loans as short as 2 years for lower priced units or as long as 15 years for higher valued models.
Is it difficult to get approved for bad credit boat financing? With many options available today, getting bad credit marine financing is fairly straightforward, even if you have poor or even no credit history. We have access to the best boat financing options in Canada to lock in an approval.
Can you build credit with a boat or watercraft loan? When payments are made on time, a boat loan can help you build credit. An installment loan is a great way to prove your credit worth, since most Canadian lenders report to your bureau.
Do you offer Guaranteed Marine Financing? While we have access to all of the available lenders in Canada, we cannot guarantee boat loans. Many boat dealers who offer this are not being entirely up front as in many cases this guarantee comes with harsh conditions. Check out the blog post below for more info.
The Leaders in Boat Financing
Financing Solutions for All Leading Boat Brands Our marine loan network extends boat financing for both new and used watercraft from a broad spectrum of leading manufacturers. We support a diverse range of brands, ensuring we've got something for every boating enthusiast. This includes, but is not limited to, Bayliner, Boston Whaler, Chaparral, Cobalt, Crownline, Formula, Four Winns, Glastron, Grady-White, Jeanneau, Monterey, Prestige Yachts, Regal, Sea Ray, and Tiara Yachts. We also cater to aficionados of luxury pontoon, offering financing for Avalon Luxury Pontoons, Bennington, Nautique, Malibu, MasterCraft, and many more. Our goal is to help you set sail in the boat of your dreams, with the best financing options available.
Zero Hidden Fees & Boat Financing Tools You Can Trust. Our boat financing tools help to ensure that you understand your monthly payments, additional costs and total loan amount so you can shop with confidence. Our tools calculate your monthly payment to include taxes and fees. We're proud to provide detailed breakdowns for your boat loan so that you can ensure that you are 100% satisfied with your new boat purchase.
Current Boat Loan Annual Rates. Our boat financing partners offer options for everybody with an interest rate in line with your risk level. It is important to remember that recreational loans differ from auto loans, so you should expect a slightly higher interest rate. Creditworthy borrowers with a higher credit score and an established history of positive payments will likely see a lower interest rate starting from 9.9%. A mid-tier credit approval will likely see an interest rate around the 14.9% mark. For buyers with a lower credit score, there are still boat loan options - but you are likely looking at a higher interest rate at 19.9% or above to offset the lender's risk.
We Use Canadian Banks & Lenders with the Top Interest Rates. Whether you're looking for a used boat with a low payment that you can afford, or an expensive boat from a leader in the nautical sector - we have the best boat loans Canada can offer. Most lenders in Canada offer various loan amounts and longer terms so that you can meet your budget. We have access to lenders who borrow funds as low as $2,000 so that you don't feel pressured into paying more than you can afford.
Flexible Boat Loan Terms & Down Payment Options. Our partner banks are not looking to qualify customers to purchase with a higher loan payment than they can afford. With flexible payment options, a borrower can shape the loan to pay a bi-weekly or monthly payment that meets their needs. In addition the lender in which you obtain your approval typically will not require a large down payment. In fact, over 90% of our boat financing approvals come with no down payment required.
