Marine Financing – Online Credit Application – Boat Loans Center
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Get Pre-Approved Today!
Top Notch Marine in our 40 years has formed partnerships with leading lenders in the marine industry to offer some of the most competitive rates on boat loans in Florida. Our finance experts are fully prepared to provide you with simple short-term and long-term, hassle-free financing packages to make your boat purchase as comfortable and easy as possible. Our finance team will work tirelessly to secure the best boat loan rates for new, used and pre-owned boats and motors. We have access to competitive rates and most times will beat your own bank or credit union financing offer. Please remember financing boats is a little different than vehicle loans and take a little more time.
Apply Online Below
Applying for a boat loan online is quick and easy on our website. By far, the fastest way to get on the water in the boat of your dreams. Choose below and be on your way to great times on your new or pre-owned boat. All electronic submissions are at the risk of the sender. The undersigned on the credit app must be the person submitting the credit application to Top Notch Marine LLC.
If you have any finance questions, please give Greg Silvers our finance manager a call at 321 253-0463.
We have 3 easy options for you to submit a credit application to us…
Complete our Online Credit Application below.
Download a blank PDF form to print and fill out by hand and submit it in person at the dealership, via email to sales@topnotchmarine.com
or fax to 772 918-5512.
Download and type to fill in our PDF credit application, then print it out and submit it in person at the dealership, via email to sales@topnotchmarine.com or fax to 772 918-5512.
Finance Services Offered
New and Pre-Owned Boat Financing Boat Loan Refinancing Extended Service Contracts Prepaid Maintenance Programs GAP Insurance Credit Repair Counseling Outboard Motor Loans Boat Engine Financing Repower Financing Pre-Owned Boat Financing Used boat Loans
Frequently Asked Questions About Boat Financing
Q:What is the best way to get started?
Complete and submit the online loan application above or contact us at 888 278-1991 to complete an application with one of our finance specialists via phone.
Q: What are current loan rates?
Boat loan rates and terms are based on several different factors: the amount being financed, age of the boat, down payment and, most importantly, your credit score. A credit application is required to quote actual rates. Rates quoted without an actual application are often inaccurate and underquoted.
Q: How long is the rate locked after approval?
Typically lenders lock the rate for anywhere between 30-60 days.
Q: What typical loan terms are available?
Terms can vary based on credit and age of boat, but typical terms would be: 7 to 25 Years.
Q: What are the down payment requirements?
15-25% is standard for most loans. Certain boats can require as little as 0% down or much as 30% down. Any equity (trade allowance less loan payoff amount) in a trade in may be counted as part of the down payment.
Q: Are there any “points”, loan application fees or closing fees?
Marine loans do not typically have “points” like real estate loans. Any closing or loan application fees will be fully disclosed prior to completing loan documents. State title fees, registrations or U.S. Coast Guard documentation fees are additional. All fees can be wrapped into your loan or paid separately.
Q:How much are prepayment penalties?
Most loans offered by Top Notch Finance are no prepayment penalty after the first 12 months of the loan. Loans with penalties can range from $75-$200, however, not all lenders have prepayment penalties.
Q: How long does it take to get approved and closed?
Approvals can take a few hours (on business days) to a few days depending on complexity. The loan closing can follow within a day or two once the approval has been obtained, all supporting documents have been received and all conditions have been met. The loan closing can take place in our office or via certified mail.
Q: What is the least and most amount I can finance?
The minimum loan amount is $10,000. There is no maximum.
Q: Do you have any marine lenders who deal with someone with sub-par credit?
YES! Top Notch Marine has several marine lenders who deal with these types of loans.
Q: Can I seek pre-approval without a specific sales contract signed?
YES! In fact we encourage buyers to consider financing as part of their early due-diligence and affordability analysis to determine their comfort level in financing up front.
Q: If I have a longer term loan, can I accelerate payments?
YES! For example, if your payment is $300 monthly, and you paid an additional $200 a month, the additional $200 adds directly to principle reduction.
Q: Can I refinance my existing boat loan?
YES! For any customers with above market rates, we welcome a credit application to see if we can help lower your financing costs.
Q: What is U.S. Coast Guard Documentation and will my boat need it?
U.S. Coast Guard Documentation is a national form of registration with the United States Coast Guard in lieu of state title. Lenders have certain requirements based on amount financed, boating location, tonnage, etc. Typically, federally documented vessels still need a state registration sticker, but not the actual registration numbers that would be required on boats with a state title.
Benefits of making a down payment
Making the largest down payment your budget allows is the best way to go when purchasing a vehicle. Your credit may be so excellent that you are not required to make a down payment. However, there are a few benefits to making a down payment.
What is a down payment?
The initial payment made when you purchase a large ticket item based on credit.
1. Lower Monthly Payments
Lower monthly payments are the primary reason for making a down payment when you purchase your vehicle. Despite the loan term you agree upon with your lender, the less you finance, the lower your monthly payment will be.
2. Build Equity
In addition to lower payments, you can build equity in your new vehicle much faster when you finance with a down payment. The larger the down payment the better. Having equity built will benefit you, should you decide to trade in your vehicle during your loan term.
3. Minimize Depreciation
Another factor to consider when making your down payment is depreciation. Having a low or no down payment immediately puts you upside down on your loan. Meaning the vehicle is worth less than the purchase price once you factor in your finance term, finance charges, TT&L (tax, title & license), etc. Although Hondas are well known for retaining their value, you also have to consider what may happen should your vehicle be stolen or involved in an accident early on in your loan term. Since your insurance company will typically pay what the vehicle is worth, you may be left with little to nothing after your loan agreement is satisfied. You may even owe and have to roll over the debt onto a new auto loan. This will pose a challenge when it comes to getting back into another vehicle.
4. Save Money
Lastly, the more you put down the more you save. Not only do you minimize your monthly payments by making a down payment you also minimize the amount of interest you pay over the life of the loan which, when compounded can really add up. There is no such thing as a down payment that is too big. Your goal as a smart car buyer is to finance the least amount possible with the budget you have at your disposal.
More Frequently Asked Financing Questions
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I visited one of your competitors, and when we talked financing, they said they had to send the information out and wait for my approval. They also said I had to pay a bunch of fees to these people who were handling the financing…
- Many dealers do not have an in-house finance department. They have to pay for an outside service, and pass that cost on to you. At Top Notch Marine, our in house finance department is staffed with professionals who can handle every facet of your financing arrangements. Your approval can be given in a matter of minutes, and there are no hidden fees to be passed on to your purchase price.
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What is the best loan interest rate I can expect?
- Marine Loan Rates are determined by three factors; Your personal credit history; the amount financed; and the Current Prime Rate. (The amount banks are charging one another). As a high volume dealership, our finance professionals have access to the widest variety of programs and lenders. Fill out our easy online credit application and have our finance professionals provide you with your best financing options.
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Can I include the cost of an Extended Service Contract in the financing of my new boat?
- Certainly. In fact the lenders like the fact that you are going the extra mile to protect your boat. At Top Notch Marine, we believe an extended warranty policy is an investment in your piece of mind. You can boat secure in the knowledge that you are protected against possible repair costs in the future.
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What agencies do I have to stand in line at and how long will it take me to register my new boat?
- No lines and no time! Top Notch Marine takes care of all title and registration work for your boat and trailer. We have people who stand in line for you! We also file warranty registrations for you as well.
Credit Report Information
Feel free to contact one of the three major credit reporting agencies to get your credit report, including your credit score, by phone or via their website. Once you have it we are happy to help you review it and explain the details to you.
- Equifax: www.equifax.com, Toll-free: 800-685-1111
- Experian: www.experian.com, Toll-free: 888-397-3742
- TransUnion: www.transunion.com, Toll-free: 877-322-8228
Need Help With Credit Repair?
Try these 2 great resources and email our Finance Director Greg Silvers at gregs@topnotchmarine.com or call him at 772 237-3822…
Wondering how much boats cost?