Cope Marine Boat Loans

Boat ownership is accessible even if you assume it's out of reach. With used personal watercrafts, or PWCs, it costs an average of $125 a month, assuming you have good credit and a reasonable down payment, whereas a new boat might cost around $250 a month. Read our comprehensive article on How to Get a Boat Loan to understand step-by-step what it takes to get your loan and acquire financing.
 

Boat Loan Calculator

Use our Boat Loan Calculator to find out just how reasonable boating can be and use the many other resources available to help you discover what kind of boat you should buy, the features you want, and the affordability of your lifestyle. To get you started along the path to financial independence, we assist guide you with a step-by-step approach, from applying for a loan and understanding your credit score, to discovering your financial possibilities and selecting the ideal maritime lender.

How to use it:

To discover the total loan amount you are eligible for, input your monthly budget amount in the total loan amount window. Then, estimate the size loan you can afford by working backward. To estimate the monthly payment of a boat or PWC, start by figuring out the purchase price, then investigate how much the monthly payment is going to be for that purchase.

Calculate Payment



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Estimated Monthly Payment:

$0.00

Useful Words and Phrases:

  • Monthly Payment

    • That is, the amount of money you spend every month to repay your debt.

  • Term of Loan
    • How long do you want to repay the loan for?
  • Loan Interest Rate
    • This loan carries an interest rate, which the borrower must bear.
  • Total Out-of-Pocket Costs
    • This is the total cost of your boat purchase. Remember to not include the sales tax in this figure.
  • Down Payment
    • This is the total cost you will be paying on your own, except for taxes and shipping charges. The required down payment for your boat depends on several factors, including the age of the boat, the loan amount, and the length of the loan term.
  • Deposit
    • This is your total paid down payment thus far.
  • Trade Subsidy
    • This purchase provides you with the full trade-in value of any previously owned vessel.
  • Remaining Amount Owed on Trade
    • Trade-in loan balance total.

 

How Do I Get Started on My Loan?

When you are ready, complete the online loan application. To make a lending decision, our lending partner will perform an initial review and credit check, which may include requesting further financial information, such as tax returns or bank statements.

The lender will identify any additional items that will be needed prior to closing once the application has been accepted (for example, a marine survey and executed sales contract). After the information has been gathered from the seller(s), the lending partner will close the loan and send documentation to be signed.

Once our loan partner has sent the required documents to the buyer(s) and seller(s), we will have them completed and ready for signing. Finally, our lending partner would use the instructions to pay the loan funds to the seller(s).

 

Contact Us!

Do you have questions or concerns about the buying process? Our team is here to assist you every step of the way! Give us a call or schedule an appointment with one of our experts!