This section directory features marine dealerships, brokers, and lenders offering financing programs for new and pre-owned watercraft. Marine loans differ from standard auto financing, often offering extended repayment terms up to 20 years for qualified buyers. Before applying, gather your recent tax documents, check your credit score, and ensure the vessel meets age restrictions set by marine lenders.
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Galahad Marine Indoor Showroom
400 Drummer Dr, Grasonville, MD 21638-1205
Mon 8:30am-5pm, Tue 8:30am-5pm, Wed 8:30am-5pm, Thu 8:30am-5pm, Fri 8:30am-5pm, Sat 8:30am-5pm
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MarineMax Kent Island
448 Kent Narrow Way N, Grasonville, MD 21638-1022
Mon-Fri 9-6, Sat 9-5, Sun 11-3
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Mid-Atlantic - Maryland - Kent Island
448 Kent Narrow Way North, Grasonville, MD 21638
Mon-Fri 9-6, Sat 9-5, Sun 11-3
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Off The Hook Yacht Sales Maryland
3033 Kent Narrow Way S Ste 1, Grasonville, MD 21638
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Pocket Yacht Company
314 Evans Ave, Grasonville, MD 21638-1208
Mon-Fri 8am-4pm
Elkton 1
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Chessie Marine Sales
706 Augustine Herman Hwy, Elkton, MD 21921-7708
Mon-Fri 8am-6pm
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Off the Hook Yachts
357 Pier 1 Rd, Stevensville, MD 21666-2601
Also in Maryland
- Used Boat Dealers64
- Boat Dealers with Service & Repair56
- New Boat Dealers55
- Boat Dealers with a Parts Department32
- Boat Dealers Offering Financing29
- Boats for Sale and Marine Inventory22
- Boat Dealers with On-Site Storage18
- Center Console Boats for Sale and Service12
- Boat Winterization and Shrink Wrap10
- New and Used Fishing Boats for Sale10
- Boat Dealers Offering Marine Loans and Financing7
Good to know
What credit score is needed for a boat loan?
Most marine lenders require a minimum credit score of 660 for standard approval, while prime rates are typically reserved for scores of 720 and above. Applicants with credit scores between 600 and 650 may qualify through specialized lenders but should anticipate higher interest rates and down payments up to 20%. Lenders also evaluate your debt-to-income ratio, which ideally should remain under 45%.
What are standard interest rates and loan terms for boats?
Average marine loan interest rates generally fall between 7% and 12%, depending on creditworthiness, loan amount, and vessel age. Loan terms typically range from 10 to 15 years for amounts between $15,000 and $50,000, while loans over $100,000 can stretch to 20 years. Older vessels (over 10 to 15 years old) usually cap repayment terms at 5 to 7 years.
How much down payment is required for boat financing?
Standard down payment requirements range from 10% to 20% of the total purchase price, including sales tax and registration fees. High-value vessels over $100,000 or older pre-owned models frequently require a strict 15% to 20% down payment. Zero-down options exist primarily for well-qualified buyers with credit scores above 750 purchasing new models through manufacturer promotion programs.
How to register a boat?
Boat registration is handled by state natural resources or motor vehicle departments upon submitting proof of ownership, a bill of sale, and required registration fees. After processing, you will receive official registration numbers and validation decals to display on your hull. Marine agencies across Maryland are available via BoatDealerAtlas with 7 local resources to guide your purchase.
How to get a boating license?
Obtaining a boating license generally requires completing an approved safe boating course online or in person, followed by passing a knowledge exam. Upon passing, state authorities issue a boater safety education card valid for life. Explore 7 marine services in Maryland on BoatDealerAtlas for local safety course recommendations.