Whether you’re new to boating or you’re a Chesapeake Bay “Old Salt,” Tri-State Marine has you covered with best-in-class financing packages.

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For over 40 years, Tri-State Marine has been serving the financial needs of our customers, enabling their discovery and enjoyment of the boating lifestyle. Whether you’re looking to purchase a new or pre-owned boat, motor or trailer, Tri-State Marine provides you with expert financing guidance – with access to the industries top-tier retail lenders offering the very best rates. We always work diligently and transparently to ensure your trust in a simple and timely process – getting you an answer quickly to help to inform your purchase decision. Our goal is to make it comfortable and easy to begin enjoying your boating lifestyle at your earliest convenience.

With greater than 50% of our customers financing some portions of their purchase, you’re certainly not alone in your consideration of seeking financing. And, with flexible loan terms — up to 20 years (240 months), your ability to afford the boat of your dreams is much closer than you think. As a basic example of affordability, a boat sale price of a $120,000 with 15% down will cost less than $650/month over a 20-year term. Imagine charting the Chesapeake Bay or our local waterways with your family and friends, creating lifelong memories — all for the cost of a typical monthly car payment.

To get started, simply download and complete our credit application offline. Your loan rate is determined by a combination of your credit score, the amount financed, and the loan amount compared to the value of the boat.

To speak with a Financing Advisor, please call 410-867-1447

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Start Your Credit Application

Types of Financing Available

  • New Boat Financing – We have relationships with several lenders, allowing us to shop for the best rate and terms for your purchase. We offer terms up to 20 years. Rates are as low as 5.50%, and even lower for larger loans. Each loan we offer has a fixed rate, so you’re guaranteed the rate will never increase. You can also pay off your loan or make extra payments to principal at anytime, without penalty. In addition, we can typically offer same day approval and closing.

  • Used Boat Financing – Much like a new boat loan, we’ll shop around to make sure you get the best rate. Terms can extend up to 20 years. Rates are often nearly as low as our new boats.

  • Re-Power Financing – Equipping your boat with a new Yamaha four stroke motor doesn’t have to be such a financial burden. Our re-power finance program can allow you to enjoy a new Yamaha motor for a reasonable monthly payment. Often, we can arrange financing with no money down.

  • Yamaha Factory Financing – We’ll gladly arrange Yamaha factory financing for your motor purchase. This can be an ideal solution for smaller Yamaha outboards motors. Depending upon credit, taxes, freight, and rigging fees can be included.

  • Registration and Title Work – When we finance your boat, we handle titling and registering the boat, motor, and trailer for you, no matter where you reside. This saves you from navigating the maze of your state’s DMV, wildlife resources commission, or department of natural resources. It also allows you to roll taxes and registration fees into your new loan.

  • Extended Warranty – When you allow us to arrange your financing, rolling in extended warranty coverage is easy. Every buyer should consider the value of having this protection. For only a few dollars a month, you can be protected against costly repair bills and ensure uninterrupted enjoyment of your boat.

  • Insurance – You’ll want to insure you new purchase against damage or loss. While we don’t offer insurance directly, we’re glad to work closely with your agent, or make a recommendation of an insurance agency for comparison, leaving you assured you have the best coverage for the best price.

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Frequently Asked Questions

Q:
What is the current rate?

A:

Boat loan rates and terms are based on several factors: the amount being financed, age of the boat, down payment, and, most importantly, your credit score. At Tri-State Marine, we quote rates that we are confident the majority of individuals will qualify for. That's our policy. We strive to keep our boat loan process simple, easy, and enjoyable.

Q:
How long is the rate locked for once I am approved?

A:

Most of our lenders lock the rate for anywhere between 30-60 days. This approval is only good at Tri-State Marine and cannot be transferred to another dealer. We will monitor the approval expiration date to ensure that we maintain an approval for you when you are ready to proceed. If the loan does not close during the given approval rate lock timeframe, you will be subject to the rate at the time of loan closing.

Q:
How long can I take the loan for?

A:

Amount Financed Available Term
$10,000 - $24,999 up to 12 years (144 months)
$25,000 - $99,999 up to 15 years (180 months)
$100K + up to 20 years (240 months)
Q:
What are the downpayment requirements?

A:

The standard down payment is 10-20% for loans up to $100,000 and 15-20% over $100,000. Any equity in a trade in may be counted as part of the down payment.

Q:
Is this a fixed rate?

A:

Yes, fixed rates with a simple interest amortization, which establishes a permanent payment over the life of the loan.

Q:
What are your fees?

A:

Tri-State Marine will fully disclose any and all fees that you will be charged. We have a modest administration fee, and the state titling and registration fees and/or the documentation costs are dictated to us by those agencies. These fees are normally included in your loan, but if you would prefer to pay them separately, we can accommodate that as well.

Q:
Are there any pre-payment penalties?

A:

Not with most lenders.

Q:
How long does the loan application process take?

A:

We will take your credit application over the phone, via online application, by fax or in person in as little as 5-10 minutes. We usually have an answer from the lender by the end of the next business day. Loans over $100,000 may take a little longer.

Q:
Should I apply for the boat loan with more than one company?

A:

Every time you give permission to pull your credit file, it lowers your credit score. Be cautious of this and only give your application to the company that you are most certain that you will do business with. Having several companies reviewing your loan application can jeopardize your approval and loan rate. We are able to pull your credit only once then submit your application to several different lenders so that way we can get you the best possible deal out there.

Q:
Do I have to provide income verification?

A:

Yes, for all loans over $100K, the lender will require income verification. Additionally, loans under $100K may require verification at the lenders discretion.

Q:
Once approved, how quickly can this loan close?

A:

Your finance specialist will work with you to obtain the necessary paperwork to proceed with the closing. This loan closing can happen in as little as a day or two once the approval has been obtained and all conditions have been signed off on.

Q:
Who handles the titling, state registration, or U.S. Coast Guard Documentation?

A:

Tri-State Marine handles your state registration and titling — we are required to do so to ensure that the title is issued properly and sent to the bank. We do not leave any loose ends. We work closely with several approved documentation agencies for all the lenders we use. This means one-stop shopping. We will take care of your loan needs, registration, and/or documentation. Just one more thing that you don't have to think about when you choose to purchase from Tri-State Marine.

Q:
Why should I choose Tri-State Marine?

A:

It's simple. We love what we do, we do it well, and we ‘always do the right thing’ by our customers. One-stop shopping - from application to state registration or documentation, and soon to come, even boat insurance. We are there for you every step of the way!