When is the Best Time to Buy a New Boat?

The best time to buy a new boat is whenever is the right time for you. You need to decide if you’re financially ready for this large purchase and if you will have the time to enjoy it. Keeping those things in mind, the best time of year to buy a new boat is usually in the fall. This is when many boats start to be taken inside or out of the water in cooler climates and the boasting season usually wraps up in the fall unless you live somewhere that is warm year round.

What are the Interest Rates on New Boat Loans?

Interest rates on new boat loans are constantly changing based on changing market conditions and factors like inflation. These rates also vary based on the type of loan you get, the loan term, the loan amount, and the borrower’s financial qualifications including their credit score. As of August 2023, expect new boat loan rates to start around 6.74% and go up from there. A well-qualified borrower with a credit score over 800 can expect a rate from around 6.74% to 6.99%. Check out Trident Funding to see what rates we offer. Our rates are always competitive and we have been a marine financing leader for more than 30 years.

Where Do You Get the Best New Boat Loans?

The best new boat loans can be found at Trident Funding. We’re a trusted financing partner that offers competitive rates, concierge level service, and terms up to 20 years. We finance new boats, used boats, recreational vehicles, and we also refinance boat loans. You can check out our boat loan calculator to get an idea of how much a new boat loan will cost you. Then apply online. We treat each client like family and we walk you through each step of the process; starting with the new boat loan application to scheduling Coast Guard inspections, marine surveys, and all the way to the closing table. No detail is too big or too small for them to handle and we make the entire financing process smooth sailing.

What is a Good Credit Score for New Boat Loans?

A good credit score for new boat loans is anything over 680. Sure, you may get approved for a new boat loan with a lower score, but you won’t have access to the best rates and terms. Typically, the higher your credit score, the lower your interest rate. If you have a credit score over 800, that’s considered top-tier or excellent credit and it will afford you access to the best boat loan products and the most competitive rates.

Day: April 13, 2023

New Boat Loans

There’s nothing quite like seeing the oranges, reds, and pinks of a beautiful sunset spread out over the horizon with nothing but water in every

Allison Bethell April 13, 2023

Boats

How to Find the Best Boat Loan Rates

Besides your house, a boat may be your most expensive purchase in your lifetime. There are a variety of costs involved when purchasing a boat

Allison Bethell April 13, 2023

Trident Funding

4.9

Based on 406 reviews

Trident Funding

4.9

The whole process was very easy. Everything went smoothly and quickly. Highly recommend!

I recently had the opportunity to work with Vinny Luzietti at Trident Funding and my experience working with him was OUTSTANDING.He was super responsive, always available, and extremely helpful.I would never think to look anywhere else for my future boat lending needs as this experience was PERFECT.Dan G.

A big shout out to Vinny Luzietti and his team at Trident Funding. I just (Aug 2023) completed financing my purchase of 40 Winks through Trident and I could not recommend Vinny more highly. From start to finish every phase of the deal was handle quickly and professionally. Vinny is very responsive and knowledgeable which made the whole process surprisingly enjoyable. Thank you for a job well done Vinny. I will use you again.

Vincent is a terrific resource for Marine Funding. He was able to beat all other rates and he made the process simple, quick and painless. He went out of his way to accommodate our needs when we had to alter the dates for the closing. We couldn't have asked for a better partner in making our dreams a reality.

Called and left 3 messages no return call.

Incredible experience with Vincent / super quick follow up / never misses an email or any communication and gets the answers immediately / he is the guy to go to for funding !

Vinnie does an outstanding job. He is timely and detailed oriented. Most importantly he has the sense of urgency to secure approval. It is a pleasure to work with Trident.

Stevn was extremely helpful. He educated us on the process and was focused on our needs first!

Vincent was amazing, quick & easy to work with.Very professional and responsive!! Couldn't have been any easier. Thank you, Vincent you made our dream come true.

Vincent is the very best in the business. He makes buying a boat easy and enjoyable. I would highly recommend his professionalism and knowledge to all.

Vinny and his team were great! They made the process easy and went out of their way to make sure things were got done.Very happy with their service!

I have used Trident funding in the past & I'm currently in the process again. The level of responsiveness, honesty and helpfulness is nothing but incredible. I have recommended numerous people to Trident and will continue. Thanks Vinny again for all your help.

Vincent Luzietta did a great job of handling my boat loan. He communicated each step of the financing, was patient with any questions I asked, and expedited my loan as quickly as possible.I would recommend Vincent and Trident funding if you are considering purchasing a boat.

Vinny provided excellent and efficient service and was a pleasure to work with. I highly recommend!

This was my 3rd time to finance a boat with Vincent at Trident and was as always easy and smooth sailing!

Kristy Deboer was a pleasure to work with and a consummate professional getting our Yacht funded. We had to work through several of them (failed surveys etc.) before finding the right one and Kristy was always right there to help us get through it. She is a credit to her company and words cannot express my gratitude for her assistance.

John was thorough , professional and informative, would definitely use him again

Vinny gets it done. He and his team were great to work with, they were extremely responsive, thorough and precise. I would recommend them to anyone. I have delt with many financing companies and it was like pulling teeth, Vinny at Trident makes it a smooth easy process.Thanks guys!

Excellent client solutions driven financing provider.

I’ve used Trident twice now for my boat loan. They are fast, responsive, creative, and detailed. Excellent communications by phone, text, and email from them. They coordinated with my dealer, licensing agency, and lender seamlessly, and even assisted in referring an insurance broker for what was a difficult time to place insurance in Florida. They could not have been better! Thank you John, Amy and team!

Kristy was excellent at describing the process and everything went as planned.

Kristy did a fantastic job taking care of our needs. Very friendly & professional

Confrontational, rude, underserving lending staff. John treated us like second class citizens and dismissed our concerns without conscience. Horrible experience

Trident has funded nearly all our loans over the past 20 years. Vinny is fantastic! I wouldn't use anyone else!

This was my first time buying a boat and I was unfamiliar with the process. John patiently explained the process and answered my questions (even though some were probably pretty silly and a little naive), and, basically, "held my hand" through the whole process.The whole process went very smoothly and efficiently. John and his people kept me updated and informed all along the way and were very clear and precise about exactly what documentation or other information they needed from me to complete the process and close the loan.I would definitely recommend John and Trident Funding to anyone contemplating buying a boat. Heck, I would recommend John to my mom if she was looking to buy a boat.

AMAZING costumer service. We got referred to trident funding. Vinny and his team has been fantastic, super fast turn around, very good communication. Very responsive emails and phone calls. No complains what so ever so happy to have been referred to trident funding! Can’t wait to start enjoying our boat! Thank you so much!!!!

Trident Funding and Leslie were great to work with when we were buying our boat. I would definitely recommend them and use them again.

Joan was amazing throughout the process. Highly recommend!

Mike and his team at Trident Funding were remarkably responsive throughout the boat buying process. At each turn, they worked to explain, offer thoughts, & provide options. In a very timely manner. I would recommend Mike to friends - and, if financing in the future, would reach out again without hesitation.

*****TRIDENT FUNDING 5-STARS *****Buying a boat can be scary, specially when your dream boat is not located in your neck of the woods. Trident Funding made my experience fast and easy, starting from appointing a boat inspector to engaging a title agent right down to holding my deposit in escrow until the sea trial took place. I highly recommend Lesley, she is a pro!!!

I’m always wary when I see too many 5-star reviews, but the team at Trident really deserves them. Great communication, excellent advice, and they managed to hold on to an expiring lower interest rate by appealing to the lender for a brief extension. I can’t say good enough things about Lesley and the team, and I’ll only use them for funding.

Shanna and Trident Funding were amazing to work with on my new boat loan. One the most seamless and easy processes I've been through. Shanna's responsiveness and communication was 5-star. I would highly recommend using Shanna and Trident Funding. I know I will next time!

Leslie and the Trident team were excellent to work with. They explained the process, we’re transparent about everything, let me take my time and ask questions, and everything went through without a hitch. I highly recommend them!

Great service! Mike and Leslie are friendly, helpful, and competent!

Lesley Bishop and the Trident Funding team were great to work with! Our boat loan was complex since it was purchased internationally (Canada), but Lesley helped navigate us through the process smoothly!

Mike is an amazing person. He really helped me out on a loan for my new boat. He was always available and immediately responded to all of my questions.

Joan is amazing! On top of everything, so thorough and I highly recommend her!!!!!!!!!

Mike Jenkins and his staff are responsive, attentive, and creative. For me they eliminated the financing stress of buying a boat. They will be our go to financing team when we move up in a few years

Financing was as promised and the team rallied to meet a tight closing timeline. All members of the Trident team were professional and very easy to work with. Definitely use them again.

We have been Trident Funding customers since 2003 and have financed 4 boats through them over the years. Michael Jenkins and his team are very knowledgeable, responsive, and always find the best rates. They accommodate their customers schedules and needs and go out of their way to ensure customer satisfaction. When it's time to finance the next boat, there's no question who I will reach out to!

Marty was awesome to work with. Very knowledgeable and smooth transaction!!

Great communication. Fast closing. Ty

What a great experience. Jim Weston is a true professional that knows yacht financing well. Will definitely use Jim and Trident in the future. Thank you again.

I just financed our latest boat through Karen at Trident and she made it the most pleasurable boat buying experience I have ever had, and this is our 8th boat!! We will definitely be using her for all of our future boat purchasing needs...Thanks Karen!!!

Joan was amazing. Extremely organized and thorough. She was able to get us a much better rate than the dealership in a short time frame. Very knowledgeable and competent. Thank you Joan and Trident Funding!.

We really liked working with Trident Funding! Customer experience was superb and rates were better than our other options. It made buying our first boat very smooth and appreciated not having to worry about this area of ownership!

John Schachel was instrumental in getting the financing in place for us to purchase our boat. He kept in constant contact with us and facilitated all the paperwork to make this transaction seemless.

My loan officer was very knowledgeable and was a joy to work with. I will use John again for all my boat loan needs.

This was a lengthy process made more so because we changed our minds twice, but John was patient and supportive throughout, and considering what has happened to the economy, our rate is at least acceptable.

I recently purchased a boat and had to resort to the internet to find financing. After some research, I ended up calling Trident Funding, specifically John Schachel. This was one of those times I got lucky and found a great resource. John made the process of financing my boat simple and was very responsive and straightforward. If you are looking to finance a boat purchase, I highly recommend John Schachel at Trident funding.

Glad I found Trident Funding. They were able to get me approved quickly and promptly responded to any requests I had. Would definitely use them again!

I had a great experience with John. He handled my boat loan professionally and made the process very easy for me. I would definitely recommend doing business with John and Trident Funding!Thanks for a great experience

Kristy was a pleasure to work with and made the process very easy.

Kristy did a great job!!!

Thanks Karen you made this a very easy and pleasant experience. On top of every detail and great service. Thanks to everyone that helped with getting this done!! Definitely would recommend Trident financial.

Karen was great took care of everything made the loan process very simple and easy.

Karen Floyd worked with me for two years in my search for my next boat. I would update her from time to time, letting her know that I was still in the search. She was always very positive and upbeat. During the actual financing process Ms Floyd was extremely helpful, supportive, and of course, professional.

Great service .would recommend to others no problem.

Karen Floyd and Trident Financial was a dream to work with. Constant communication! Every time I called or emailed Karen ALWAYS picked up the phone or answered my email with 10 mins. I couldn’t ask for a better loan creation experience. Thank you Trident!! And thank you Karen!

Great job made it easy !

Such an easy process. Marty was so responsive and did a wonderful job. Would highly recommend.

Thanks.

Wonderful customer service and a true joy to work with.

The whole team was professional, available, eager to help and on top of the whole process. Mine was a private sale, so their guidance to assure that myself and the seller completed all the right documents was a critical part of making it feel easy. Thank you team Trident!

Wow such an easy process!! Jim Weston is a pro. He made my boat loan go through so smooth and seamless. Trident funding is the place to go for boat loans. Prior to going through Trident I tried 2 other credit unions that had no clue on how to do boat loans, but claimed they did. At the end of the day Jim got it done so easy with a great interest rate.

Jim Weston at Trident Funding was a pleasure to work with. Besides taking care of my loan he connected me with the right people for transport. Great service and communication !

I was paired with Lesley for my financing and could not have been more satisfied. Very happy new owner of a 2016 Mastercraft X10. Process was incredibly smooth and took about 2 weeks from approval to picking up my new boat. Would definitely use again.

Marty walks you through the process. Answers emails and text right away. Highly recommend Trident Funding

Jane was fantastic to work with from my first call to her to our closing meeting. We really appreciate her timeliness in responding to us to enable us to move forward.

Karen at Trident Funding is absolutely phenomenal. She was extremely responsive and explained the thoroughly explained the process. We would highly recommend her to anyone looking to finance a boat. She also offered competitive rates. It was a flawless process!

Outstanding coordination with my broker and insurance agents. And superb customer service. All of my questions were answered promptly and quickly.

Karen is very good at what she does!

Michael and Lesley were both great to work with, helped us understand our loan options, and were quick to get our application processed and approved! Highly recommend!

They were very easy to work with and super fast! Michael was amazing! Would recommend them and use them again!

Second time working with Mike and his team at Trident. Everything was professionally and quickly processed. Very happy with both transactions.

Great job! Marty was a pleasure to work with.

It was such a pleasure working with Jane. She went above and beyond to help us with the purchase of our boat.

Our experience for obtaining a loan with Trident Funding was exceptional, all things considered. Shout out to Marty Huff and his team who got this done in record time! Long story short, go with Trident Funding and don’t let snail mail scare you! Now if you want to know why, then continue reading. Story time.My wife and I were applying for a loan to get our first ever boat, a used boat. We applied to two lenders: one being a credit union who is capable of e-sign and the other being Trident, who is not caught up with times and had to overnight FedEx our loan documents, which must be signed/notarized and overnight sent back via FedEx. We were pre-approved by both lenders with the same terms, so we anticipated on moving forward with the credit union to expedite the process by taking advantage of e-sign capabilities. On Monday, I received a follow up e-mail from Marty asking when we were looking to move forward with the paperwork. I e-mailed him back thanking him for his time, but we were moving forward with a different lender. He replied with no hard feelings and wished us the best of luck. However, that was until the credit union completely changed all the promised terms due to the age of the boat when we began to move forward (which was BS considering they knew the age of the boat when we applied, but that’s fine).I quickly called Marty explaining our situation. He told me no worries and the pre-approval was good for 30 days. More importantly, the terms were still the same. Here is where Marty went to work. I provided all paperwork on my end. Marty contacted the broker, who also went to work. The broker sent all the necessary requested paperwork. By the end of the business day, Marty overnight sent all loan documents with clear instructions via FedEx with tracking. On Tuesday, I received the documents. Marty saw the loan documents arrived and reached out to ensure he was available should we have any questions when signing the documents. My wife and I got the loan documents notarized/signed and got them overnight sent back via FedEx with the provided pre-paid packaging. On Wednesday, the loan documents were received by Trident early in the morning. One last document was needed from the Broker/Seller, which was done by the end of the business day. On Thursday morning, our loan was funded by the bank! The broker had to wait on the seller to sign off and finalize, but we were in our boat that officially became ours on Saturday!Long explanation, but if that story doesn’t speak to why you should go with Trident Funding and ask for Marty, I don’t know what will. Thanks Marty Huff and your team for your hard work. My wife and I are enjoying our boat as promised!

Trident was very professional and prompt. When I needed help they were just a phone call away. I drove quite a distance to pick up a boat to my liking and was on a time table. Shanna and Amy were courteous and professional in meeting my needs, and everything happened on time. Thanks for all your hard work.

Frustrating experience. Filled out their loan estimator info on the home page and was shown with my parameters that I would qualify for a boat loan with 4.99% (I have top tier credit). Went ahead and applied for a loan based on that and was quoted a rate of 6.74%? Would not have formally applied and had a credit inquiry on my report if I would have been presented such a high rate at first. I must say that the President of the company did reach out to me directly to apologize.

Lesley and Mike were great to work with! Responsive, answered all our questions, and got us an excellent rate. Recommended.

We used Trident Funding to help us secure a loan for vessel we were purchasing and John Schachel was very helpful with the whole process from start to finish. Our process was made a little complicated with insurance and survey's which slowed it down more than I'd like but the Folks at Trident helped us however they could and ultimately made it a good experience.

Great experience! Lesley helped guide us to a great loan and was knowledgeable and patient with us while we searched for the ‘right’ vessel, which is difficult given the demand. Great team to work with.

Highly Recommended!! Trident Funding worked quickly and very diligently to get my boat loan approved!! Lesley was amazing and couldn't be more happy with the whole process!!

Used Trident to source financing for my sailboat. They were very responsive and patient with all of my newbie concerns/knowledge gaps. Had the best rates available by FAR!

wow, mike at trident funding was such a pleasure to work with. I closed on my dream of owning a sailing trimaran this morning. the only way this happened was because of how easy it was to converse with mike and how fast he was to get back to me with his questions and my concerns. I originally went with a big bank that had a good reputation in the area, still havent heard back from the big bank!!! glad I went with mike - I cant wait to get back on the water in my new boat!!! thanks mike

I worked with Michael Jenkins on the funding of our Beneteau sailboat and the process couldn't have been any better! The transaction was a bit more complicated in that we were purchasing the vessel from Canada and had to import into the US. Our initial lender couldn't help us due to it being a foreign transaction. Michael came to the rescue, was super helpful through the whole process, and made it a truly quick and painless transaction for us. I can't recommend Trident Funding highly enough!

Mike Jenkins made our boat funding process so easy! He exhibited great patience as our closing shifted multiple times due to boat delivery delays... Additionally his rates were the best! It's always a pleasure doing business with professionals that you can trust and Mike is one of those individuals!!! Most strongly recommend him!!!

This is our second round with Trident - We returned for good reason. The service and performance were 5-Star on both occasions. We'll be back a third - but only if we "need" a different boat somewhere down the line. Many thanks to Trident.

We have financed 2 boats with Mike at Trident. Both times the process was quick and straight forward. I have an adversity to loans of any kind but with no early payment fees, it made it an easy decision. If we buy a third boat, I would use them again.

John and the Trident team were great! We had a deadline to meet and they all came together and worked hard to make the process seamless and make sure we were able to close the financing on time to meet our deadlines. Thanks to John and the entire team!

I truly can’t give out anything other than positive praises for Trident and their amazing Joan Burleigh! She was THE ideal person to work with. If I could use just two words to describe her, they’d be: thorough and thoughtful. Joan is someone who puts the level of concern and diligence into her work that makes it feel as if she were crafting a loan for a very close family member. She was that caring, hard-working, and genuine. Thank you, Joan, for everything!

First time dealing with boat financing. John did a superb job! The loan process was simple, John answered all questions I had promptly! We closed on the loan 5 days earlier than we expected. Thanks Trident Team!

When my wife decided we wanted a new boat a few months back, we were very fortunate to connect with John Schachel with Trident Funding early in the process. Not only did John respond to my requests to evaluate three different boats , but he shared insights he has learned over his 30 years of industry experience. Once surveys were complete, he exceeded our expectations and had our loan package to us within 2 days. If you are looking for a lender, I recommend you reach out to John and the Trident Lending team in Fort Lauderdale.

I am so thankful that I had John Schachel and the Trident team helping me through the process of financing a boat. I'm so thankful to have such a knowledgeable professional walk me through the process. I had originally assumed that it would be as easy as just buying a car. Not at all! More like buying a house haha! Trust me, don't use an online loan service. The expertise of John and his team is unmatched. Not only did they guide me along the way, but they made it possible to close the deal super fast!

I did not know financing a yacht was going to be so complicated. I reached out to John Schachel for help and he walked me through the whole process until the deal was done. Thanks John and the Trident Team for helping me buy the yacht of my dreams!

I don't have enough good things to say about these folks. John Schachel and Julio Santana handled my account which was the purchase of an Everglades 224 CC. They understand what customer service means and handled my loan efficiently and efficiently. I wish that more companies and their representatives understood how important customer service is.

I decided to purchase my 31' Formula knowing I was on a tight time-frame as I was leaving out of town on vacation. The seller's boat broker referred me to Trident Funding / Julio Santana. Julio was prompt, clear, and fast, and made the process easy. I got my approval within a day and got all set to close well within my time-frame. If and when I ever buy another boat, Julio and his team will be my first call. Thank you Julio, Amy, and team for making this transaction stress free and seamless!!

Don't waste your time with the Newport Beach, CA office. Dealt with a loan officer who clearly couldn't be bothered to understand my unique financial situation. Found another company (Seacoast Marine Finance, highly recommended ask for Travis) that wanted to do business and now enjoying my new sailboat.

John Schachel was excellent. He communicated and handled everything very professionally on my boat loan. I am going to use him again. Thank you John

I usually don't write reviews, but in this case I had too. I recently purchased a boat using Trident Funding, dealing with Kyle Knodt and have to say he was unbelievable. Kyle took care of everything, communication was amazing. The sale went flawlessly all due to his hard work. If anything I would urge anyone seeking boat financing or any other type of financing call Kyle he made it look easy. As I said I don't write reviews, but as a retired police officer of 25 years, I know people he is the real deal Thanks so much Kyle!!!

Worked with Jim Weston on a boat loan. Incredibly knowledged professional who clearly understands his craft and how to get the best possible results for his clients. Very highly recommend calling him directly if you need help with financing for your watercraft/yacht.

I rarely submit reviews, but this one is a must. I highly recommend Trident Funding. My husband and I worked with Loan Representative Jim Weston who was very kind, professional, responsive and supportive. He worked hard at getting us the best rate and the best term. He followed up with on a consistent basis and thoroughly explained the process of purchasing a boat. Most of all he was patient and kind. When my husband and I finally purchased our boat he was just as excited as we were. We definitely will be repeat customers and a referral source for Team Weston. Will & Lisa S.

My entire process was stress-free! I highly recommend them! ! !

Our experience with John Schachel at Trident Funding was fantastic. John is very knowledgeable and answered our questions thoroughly and quickly. Thanks to John and Trident funding, the loan process for our first boat was smooth and painless.

My experience with Trident has been exceptional. John S responded within minutes to every text or email question that I had, we finished up the entire process in just over 1 week including shipping docs and everything is highly organized. I would highly recommend Trident to everyone.

I contacted Trident Funding about financing a 411 Meridian we were interested in purchasing. I worked with Joan Berleigh to get the loan. Joan got us a great interest rate and the entire process took less than two weeks. During the process Joan always returned my phone calls and was very good about answering all my questions. It was so refreshing dealing with someone who obviously takes great pride in what she does and is extremely honest and professional. If you are looking for painless financing for your new boat you need to contact Joan. Thanks Joan we love our new boat.

Subject to loan program requirements and credit approval. Certain fees, closing costs, and restrictions may apply.

@ 2023 Trident Funding, LLC | NMLS ID 1740883 | NMLS Consumer Access

Day: April 13, 2023

Categories

New Boat Loans

How to Find the Best Boat Loan Rates