How to Finance Your Boat Purchase - Superior Boat Repair
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How to Finance Your Boat Purchase


Here at Superior Boat Repair & Sales, there is a boat for every budget! That being said, buying a boat is still a big investment. If you live close to the water in the El Dorado Hills- Roseville, California area, a boat purchase is a good asset. Boats are not only great for recreation and vacationing, but for travel as well! Before coming to see our large inventories in Rancho Cordova or Homewood, California, feel free to check out this handy guide on how to finance your boat!

Credit Score

While there are loans available for people with bad credit, these aren’t nearly as affordable as a loan obtained with good credit. You can check your credit for free once a year with any of these reporting agencies: Equifax, Experian, and TransUnion. If your score is below 700, it’s advised to spend some time repairing it before taking out a loan.


Budgeting is the most important step in the preparation process. Understanding how much of your monthly income is needed for bills, savings, and various little emergencies will keep you from spending beyond your means. By correctly budgeting your finances you’ll be able to calculate exactly what you can afford to pay in monthly boat payments without going into debt. If you’re having trouble with some of the calculations there are a number of helpful tools online. We’ve included a link to our own loan calculator if you’re having trouble finding resources for free!

Down Payment

Most sellers will ask for a down payment of around 20% to buy your boat when financing the purchase. However, the larger your down payment is, the better your loan rates will be. If you need some time to repair your credit it’s wise to also begin saving up for a larger down payment. Creating a savings timeline or an automatic funds transfer can be helpful tools for saving up quickly. 


There are a number of different potential lenders out there, the most well-known being banks and credit unions. While these are good lending institutions, credit unions often mandate secured loans-putting your boat up for repossession after a number of missed payments. While banks may offer slightly lower rates if you have an account with them, they can sometimes take days or even weeks to approve a loan. A dealership is the best place to go for a quick loan, often approving the application in a few hours. We here at Superior Boat Repair & Sales work hard to make sure our customers are getting the best deal available. If you have questions about our financing process or any of our inventory you can reach us by phone call (916-638-3382) or text (916-634-0877), whichever you prefer!

At Superior Boat Repair & Sales want you to have the best boat experience possible. Therefore we not only offer a wide array of quality products but boat financing as well. Because we want you to get the best price available, free quotes are also offered on our company website! If you’re located in Folsom, California feel free to stop by one of our dealerships in Homewood or Rancho Cordova and speak with our experienced crew! They can answer any questions you have regarding our inventory, financing options, or even boating maintenance. We hope to see you soon!

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