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.
Alpena 1
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The Boat House Marine & Storage
2015 W Hamilton Rd, Alpena, MI 49707-7820
Mon-Fri 9am-5:30pm, Sat 9am-2pm
Bay City 1
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SkipperBud's
1809 S Water St, Bay City, MI 48708-7787
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Dry Harbour Marine
6357 S US-31, Charlevoix, MI 49720-8915
Mon-Fri 8am-5pm, Sat 8am-12pm
Columbia Twp 1
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Boater's Choice
12023 Brooklyn Rd, Columbia Twp, MI 49230-9108
Mon 10am-5pm, Tue 10am-5pm, Wed 10am-5pm, Thu 10am-5pm, Fri 10am-5pm, Sat 9am-3pm
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SkipperBud's
11 Harbor Island Dr, Grand Haven, MI 49417-1180
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SkipperBud's
41700 Conger Bay Dr, Harrison Twp, MI 48045-1432
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Club Royale Sales & Service
4825 Highland Rd, Waterford, MI 48328-1138
Mon-Fri 9am-6pm, Sat 10am-3pm
Wayland 1
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Premier Boating
2602 S Patterson Rd, Wayland, MI 49348
Mon-Fri 9am-6pm, Sat 9am-3pm
Also in Michigan
- Used Boat Dealers92
- New Boat Dealers91
- Boat Dealers with Service & Repair90
- Boat Dealers with a Parts Department62
- Boat Dealers with On-Site Storage62
- Boat Dealers Offering Financing58
- Pontoon Boat Dealers49
- Boat Winterization and Shrink Wrap31
- Boats for Sale and Marine Inventory29
- New and Used Fishing Boats for Sale28
- Center Console Boats for Sale and Service21
- Boat Dealers Offering Marine Loans and Financing16
- Boat Dealers Accepting Trade-Ins and Buyouts11
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 Michigan are available via BoatDealerAtlas with 8 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 8 marine services in Michigan on BoatDealerAtlas for local safety course recommendations.