No matter where you're sailing in your dreams, boat financing may help make that destination a reality. Whether you're looking for a used bass boat, a new ski boat or an ocean-worthy cabin cruiser, boat loans can help you get on the water faster than saving up for a cash payment. Financing a boat may help you to get the watercraft you want now so you can enjoy it for years to come.
Not everyone has the money to buy their dream boat outright. That's where a boat loan can help—keep your cash reserves intact while cruise away on the boat you’ve always wanted. A Synchrony loan offers flexible terms, allowing you to pay back the loan over a period of time and make manageable monthly payments that help fit the cost into your budget.* You can purchase your boat (new or used) from a brand you trust, including Sea-Doo, Yamaha, and Kawasaki among others.
A Synchrony loan offers flexible terms, allowing you to pay back the loan over time and make convenient monthly payments.*You can also use the loan to purchase the approved accessories and gear you need at the time of vehicle purchase.
Ready to go? Find a dealer near you that accepts Synchrony financing.
You may already be familiar with the process of getting a boat loan. Rather than paying all the money upfront, you could borrow the money from a lender like Synchrony and pay back the amount (with interest) in monthly installments.
Boat loans are either secured or unsecured. At Synchrony, we offer secured loans, where the boat functions as the collateral.*
Since boats have a long life, they are financed for longer periods of time, like 15 years. We'll finance boats that cost up to $100,000, so we won't hold you back from your dream boat.* Just keep in mind that you could expect to put 10%-20% down, depending on the age of the boat and your credit.1
Financing isn't just for buying a new boat. You can buy a used boat with financing too, whether you're doing a private sale or dealer purchase. Just keep in mind that the term length is tied to the age of the boat. So, a used boat will likely be eligible for a shorter loan term than a new boat. Still, since a used boat often has a lower purchase price, it's easy to find a payment that will work for you.
When you're considering what boat to buy, ask yourself:
Here's an overview of five popular types of boats that are eligible for boat loans.
With Synchrony, getting started with boat financing is simple. Talk to your favorite dealer! When you apply using our digital application, you'll need to provide your:
*Offer subject to credit approval by Synchrony Bank.
The information, opinions and recommendations expressed in this content are for informational purposes only. Information has been obtained from sources generally believed to be reliable. However, because of the possibility of human or mechanical error by our sources, or any other, Synchrony and any of its affiliates (collectively, “Synchrony”) does not provide any warranty as to the accuracy, adequacy, or completeness of any information for its intended purpose or any results obtained from the use of such information. The data presented was current as of the time of writing. Please consult with your individual advisors with respect to any information presented.