Boat Loans and Yacht Financing by Excel Credit


Why get a Boat loan from Excel Credit?

  • Minimum Boat Loan amount or Refinancing your Boat Loan $25,001
  • Minimum Boat Loan –Finance Amount is $25,001 (Purchase- After Down Payment)
  • Minimum Boat Loan – Finance Amount is $25,001 (Refinance)

Guidelines for Submitting a Boat Loan Application:

Accuracy: Complete the online boat loan application as accurately as possible. Provide any applicable information regarding; Time at address, income, job history, contact information, etc.
Co-Applicant: A co-applicant is considered to be the spouse of the primary applicant with joint loans with the primary applicant. All other relationships would require a separate application and would be regarded as a co-borrower.
Down Payment: All loans require a minimum down payment amount of 10%. The down payment requirement could be more based on the purchase price of the boat, or the value of the vessel.
Finance Amount: is the amount of the down payment has been applied. This must be over 25k to qualify.
Pre-Approval: We do offer pre-approvals which are valid for up to 60 days from the date of the approval and 30 days for the rate commitment. Pre-approvals are not valid solely on a dollar amount. You will be requested to supply information on a boat you wish to consider financing with the understanding that you may opt to find something else in the pre-approval time allotted.
Price: Please provide an estimate of the purchase price, sales tax, down payment, and the loan request.
Provide Vessel Description: Specify the year, make, model and model number of the boat and provide the information for the engine(s) and trailer, as it may apply. This will allow the loan officer to obtain an accurate credit valuation for your request.