Boat & Vessel Loans
Sailing off into the sunset can be a breeze with a boat or vessel loan from Alaska USA! No matter where you live, Alaska USA has loan programs to help fulfill your maritime dreams.
Boat & Vessel Loan guideline
New - Current and next year's model year, or prior model year until April 1.
January 31, 2011
|Maximum loan amount||On approved credit, 70% of purchase price.||On approved credit, 70% of the lesser of: (a) purchase price or (b) value as determined by an accepted appraisal or survey.|
|Additional amount||Higher percentage of financing may be available for qualified applicants.
Boat trailers can only be financed under this guideline when purchased in conjunction with a boat.
|Type of lien||Security Agreement / UCC Filing / preferred marine mortgage, as required.|
|Annual percentage rate (APR)||Periodically established by Board of Directors based upon current money market conditions. Differential rates may be established by the Board of Directors based upon the repayment term of the loan and the credit qualifications of the borrower(s). View loan rates and online specials.|
|Items included||All boats, vessels, outboard motors, and personal watercraft, regardless of size.|
|Restrictions||Maximum terms on personal watercraft and outboard motors purchased separately will normally not exceed 72 months.
For loans less than $25,000, the age of the collateral plus the term of the loan will not normally exceed 20 years.
No strictly wooden hull boats or vessels.