How does a Boat Loan work?
We will loan you the money for a new or used boat, and you will pay it back with interest over a specified period of time. It doesn’t matter if you buy your boat from a dealer, a manufacturer, or an individual.
It’s good to plan ahead by getting preapproved for your Boat Loan. That way you can have a better idea of what price range you should be shopping for. Being preapproved also gives you good negotiating power with the seller.
Elements can finance up to 90% of your boat’s value, including tax and license. It’s a good idea, though, to put down at least 20% of the purchase price. Of course, the more you pay up front, the lower your monthly payment will be.
Whether you're interested in purchasing a boat or other recreational water vehicle or would like to change your lifestyle, Elements can help you start your adventure.