Our rates range from 4.45% to 19.99% based on a variety of factors including the amount you are financing, the age and type of RV or boat you are financing, your location, and your credit history. All rates offered are fixed APRs.
We offer terms from 60 months (5 years) up to 240 months (20 years) depending on the amount you are financing, the age of the RV or boat, and your credit history. We offer the longest term possible, as there are no prepayment penalties with any of our loans. This allows you to pay off your loan as quickly as you like while always having the option of the lowest payment. When you are approved, if you prefer a shorter term please ask your loan officer and they will work that out for you.
Is your website secure? Do you sell my information to other companies?
Yes, our website is certified secure by Norton Symantec. To protect the integrity of your information all communication between you, us, and our partners is encrypted using the latest standards for financial transactions.
Do I have to purchase from a dealer?
We are able to work with dealers and private party purchases. This gives you the freedom to find the best deal possible for the RV or boat that fits your criteria.
What are the minimum application requirements?
1. Minimum credit score of 500.
2. Consistent source of income.
3. Age of unit 20 years or newer. Older units on a case by case basis at a higher interest rate.
4. $7,500 minimum loan amount.
5. No commercial uses. Full time use considered in 12 states
Here are a few things that may disqualify an applicant:
1. Unverifiable or temporary income.
2. No programs available in Alaska or Hawaii.
3. Multiple bankruptcies or currently open bankruptcy.
4. Large, outstanding collections.
5. Inability to afford monthly payment. (Typically Debt to Income (DTI) Ratio needs to be under 40% to 50%)
Do you offer Refinancing?
We do offer refinancing programs for amounts over $57,400 with 12 months of payment history and a minimum credit score of 680. Additional terms and conditions may apply.
Do you offer programs with no down payment?
While most of our lenders require a 10% to 15% down payment, we will consider 100% financing on a case by case basis.
Can I count my spouses income?
Yes, as long as your spouse is listed with you as a co-applicant on the application.
What happens after submitting the application?
You will receive your decision via email. While we are processing your application, review your confirmation email for any documents you will need to have prepared prior to closing. Once you receive your offer, your loan officer will discuss next steps based on your situation.
What are your fees?
We do not charge an application fee to receive a loan offer. When you close your loan, we charge a document fee of $495 for our services. This fee is financed into your loan amount.
How long after I sign documents will I receive my funds?
The process of verifying and approving your closing documents takes 1 to 3 business days. We release the funds for your loan as soon as your lender has verified your closing documents are accurate and correctly signed. Any issues with your closing documents or missing insurance may extend this timeline.
What happens if the seller still has a loan on the unit?
If there is a lien, we will work out the details of the payoff with the seller and their lien holder. We pay off the lien directly to ensure a free and clear title for transfer into your name.
How long is my approval valid?
Credit pulls are good for 30-90 days depending upon the lender. We advise you to close at least 10 days before your approval expires to allow time for funding.
How long does it take after you apply?
We can usually have a decision to you within 1 to 2 business days. From application to closing it is normally a 4-8 business day turnaround depending on how long it takes for you to send any usable and valid documents we may request.
Can I get financed for a unit with a salvage title?
We are unable to finance units whose title lists them as salvage, rebuilt, flood damaged, or any other type of branded title.
What unit types do you finance?
We currently offer financing on the following unit types:
Jet Skis/ Personal Watercraft
Open - Flatbed Trailers
Can I buy out of state?
Yes, you can purchase from anyone in the United States as long as we are able to verify current ownership of the seller.
Will this affect my credit?
A soft pull does not affect your credit score. However, to complete your application, a hard inquiry is required by law and can have a small effect on your credit score. For more information on how inquiries affect your credit, we recommend speaking with a professional credit consultant.
Can I get pre-approved?
Yes, we do pre-approvals, however we need an example of what you are looking at so it can be reviewed by our lenders. Once approved, you can switch units and your loan officer will let you know how to make that happen.