Boat Buying Questions: Where to Start
Still shopping? Start with your budget. Found a boat? Send me the listing. Already approved? Check what is left before funding and pickup. You do not have to work through the whole library before asking a question.
Some questions have a simple starting point even when the final answer takes a little work.
How much down?
Some lenders start at 10% down. Others want more. But we need the full purchase price, including taxes and fees, and the wholesale value the lender will use before we know the cash you actually need. Read how boat down payments work.
What credit score do I need?
The score helps identify possible programs. The history behind it matters too. Read comparable credit history before assuming an excellent score settles a large loan request.
Do I need tax returns or a survey?
Those requirements depend on the program and transaction. Tell us about the income situation and boat; do not rely on an old dollar threshold or a friend's approval. A survey waiver also does not tell you the boat is mechanically or structurally sound.
Where do I get a purchase agreement?
Visit the Downloads section of YourBoatMoney. Check that the agreement fits the transaction, contingencies and deadlines. Purchase agreements and bills of sale have different jobs.
Can I take it home once I am approved?
Confirm the remaining conditions, closing, funding and release. Start with what happens after approval.
Prefer to watch an explanation? Visit YourBoatMoney on YouTube. Treat historical rates and program details in older videos as historical, not current offers.
Have a boat in mind? Send me the listing through YourBoatMoney, or ask ScotBot to help you get started. You do not need every answer before we talk.
Educational information, not a loan offer or guarantee of approval. Requirements depend on the lender and transaction.