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BoatU.S. boat loans review

Get connected with a lender with rates starting at 4.87% APR.

  • Best for financing an expensive boat with good credit.
  • Pick something else if you want to borrow less than $15,000 or want 100% financing.
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Min. Loan Amount$15,000
APRStarting from 4.49%
Interest Rate TypeFixed
Loan TermUp to 20 years
Turnaround Time3 to 6 business days

First, am I eligible?

To qualify for a boat loan from BoatU.S., you must meet the following criteria at a minimum:

  • 680 credit score or higher
  • No bankruptcies, foreclosures, settlements or charge-offs in the past three to five years
  • 1991 boat model or newer

Depending on the lender you're connected with, you might have to meet additional criteria.


  • Competitive rates
  • No maximum loan amount
  • Long terms available
  • Coapplicants accepted


  • Higher rates for lower loan amounts
  • No preapproval
  • Recreational boats only — no boats you plan on living on
  • Down payment of 10% or higher

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SoFi personal loans
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BoatU.S. reviews and complaints

Customers have been silent about their experience borrowing from BoatU.S. as of May 2020. It has no reviews on Trustpilot and none of the reviews on its Better Business Bureau page are related to boat loans. While not necessarily a bad sign, this also makes it difficult to tell what kind of experience you might have.

How do I apply?

Follow these steps to get started online:

  1. Go to the BoatU.S. website.
  2. Hover over Products & Services and click Boat Loans.
  3. Scroll down and click Get Started.
  4. Enter information about yourself and coapplicant, if applicable. Click Next.
  5. Enter information about the boat you plan on purchasing. Click Next.
  6. Provide information about your current assets and liabilities, including bank accounts, real estate, vehicles and debts. Click Next.
  7. Review and submit your application.

What information do I need to apply?

You might need to provide the following documents during the application process:

  • Personal financial statement
  • Recent tax returns
  • W2 forms
  • Bank statements
  • Sales contract
  • Marine survey report — for used boats

What happens after I apply?

After you submit your application, you might be asked to provide documents to verify your income, assets and other information you submitted. You should hear back with a decision within two to three business days. After you sign and return your documents, it typically takes another one or two business days to receive your funds.

How do repayments work with BoatU.S.?

Typically, loans of this size come with fixed monthly repayments, though how it works exactly depends on your lender. Look at your loan documents to find out how much you owe and your due date each month.

If you have any questions about your loan or think you might be late, reach out to the company handling repayments as soon as possible.

You can learn how it compares to other lenders by visiting our guide to boat loans.

Frequently asked questions

Do I have to be a BoatU.S. member to apply?

No, you don't have to be a member of BoatU.S. to use this service.

Can I apply over the phone?

No, you have to fill out an online application in order to get connected with one of BoatU.S.'s partner lenders.

Do I have to make a down payment?

Yes, you must make a 10% down payment at a minimum. The standard down payment is 15%.

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

This boat loan connection service is ideal for borrowers with good credit looking to finance an expensive boat over $350,000. There’s no maximum loan amount, and the more you borrow — the lower your rate.

But it doesn’t offer funding under $15,000. And you need to make at least a 10% down payment — maybe more depending on how much you plan on borrowing.

You should also look elsewhere if you want to shop around for rates and aren’t settled on a boat yet. None of its lenders offer preapproval. And you have to list a specific boat on your application when you apply.

Not sure BoatU.S. is right for you? Compare personal loan offers below.

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