Title Loans On A Boat


Are you familiar with boat title loans and how they work? The vast majority of visitors to our site are looking for a car title loan because quite simply, most of us have cars. But most lenders will also accept a boat as collateral for a loan. Similar to those who use a motorcycle or other type of motorized vehicle as security for a loan, a lender simply wants to know if there’s enough equity available if the loan payments fall behind.


What Is A Boat Title Loan?

With a boat title loan, you use the available equity as collateral to get a loan. Title loans on boats aren’t exactly common.Title loans on boats will generally have a lower loan amount that a typical car title loan. But that’s primarily due to the fact that most boat owners aren’t aware the option exists and because only a handful of title loan companies will underwrite a boat title loan. In most cases you’ll be able to maintain use of the boat and the loan will function no differently than what would be expected with a car title loan online. In rare situations, you may need to hand over the pink slip for your boat and the actual boat itself. But those cases are rare and that will probably only happen if you’re dealing with a pawn agency or other type of pawn shop that requires them to hold the actual property.


How to get a boat title loan and what’s needed to qualify

It’s easy to get a boat title loan if you know what’s required to qualify. You can get started right through our site by submitting an application for a title loan. Most applicants are pre-approved in minutes and you can get cash for your boat within one business day after a successful underwriting process.

A typical lender will require a few documents to process the application. These often include your boat’s DMV registration, the actual boat title, and Government ID that says who you are.  Each state has different documents and paperwork requirements but most will provide you with some type of vessel or watercraft registration form. You will also likely need to submit information and pictures to show the quality and condition of your boat as of that day.


Additional online lending requirements for title loans on a boat

Each situation is different, but title loan lenders want to ensure the boat matches all the specific DMV documents and there are no major condition problems. A certified agent of the lender may request an inspection of your boat. This doesn’t happen all the time, but it may be required if you’re asking for a large amount as the lender wants to verify the boat’s condition. Lastly, expect little to no requirements when it comes to your credit score. Instead of underwriting a title loan based on a credit report, the lender wants to ensure there’s enough equity in the boat.


Can I apply for a boat title loan online or with a company near me?

Yes, similar to a car title loan, you have the option of applying for an online title loan on your boat right from our website or with any other secured lending provider. You can also search our directory of top title loan companies to find companies that are local and licensed in your state who happen to offer boat title loans. Another option is to apply with a boat title loan lender near you. By applying with a company in your neighborhood you have the option of meeting face to face and it’s likely the process will be much quicker from start to finish. Either way, you can’t go wrong if you have equity in your boat and apply with a title loan company near me or with an online lender. Simply be sure, that lender is licensed in your state and knows what they’re doing when it comes to title loans for boats!


Most water crafts and boats will qualify for a secured title loan after a visual inspection.