Why Finance with a CMTA Member

Boat buyers have choices when it comes to paying for their purchase, and financing is both an affordable and sensible option. But it's just as important to know where to go for a boat loan. The National Marine Bankers Association is a national organization of marine lending specialists who understand the boat business. National Marine Bankers Association members -- national and local banks, financial service firms and some credit unions -- offer competitive financing simply because they have made boat loans an important part of their business.

Realistic Down Payments

The down payment is based on the age, type and price of the boat you are buying, as well as your own credit profile. In today's market, National Marine Bankers Association marine lenders offer financing with down payments typically in the 10 percent to 20 percent range. A number of National Marine Bankers Association members have created special programs available through various manufacturers and dealers that could allow you to qualify for less on new boat specials.

Help with Used Boat Loans

Many National Marine Bankers Association lenders work with used boat dealers and boat brokers, so getting help with a loan for a pre-owned craft can be taken care of quickly and knowledgeably.

Faster Credit Decisions

Because you are working with professionals in the marine industry, National Marine Bankers Association lenders understand boats and their buyers. You can apply for a loan and be approved often in a few hours.

Longer Financing Terms

National Marine Bankers Association marine finance specialists recognize the value of a well-maintained boat, so terms generally will be more attractive than those offered by lenders not actively making boat loans.

Lower Monthly Payments

Because National Marine Bankers Association marine lenders understand that boats have longer life cycles than cars, they tend to extend longer terms on boat loans. That means monthly payments are likely to be much lower than you had expected.

More Electronics and Extras

National Marine Bankers Association marine lending specialists will allow you to finance optional equipment, electronics, extended service plans and life/disability insurance coverage with your purchase. By financing your boat purchase you can usually afford a newer, larger, or more powerful boat and all the gear that it takes to make boating safer and more enjoyable!

Sales and personal property taxes

Although this varies by state, most new boat sales are subject to sales and or property taxes; used boat sales may also be taxed in entirety or by varying methods. Lenders will require proof of payment of sales tax to finalize any loan process.

You can find National Marine Bankers Association marine lenders at boat shows, through ads in boating magazines and on the web, including a member listing on this site. Ask your dealer or broker to help you gain the financing benefits offered by National Marine Bankers Association marine lenders.

Here's where you learn about financing your boat purchase - how it's done, who can help you, and why you should be working with a member of the National Marine Bankers Association.