Frequently Asked Questions:
If you don't see your question, or don't want to look for it- just call 1-888-887-2628.
Q. Do I need to have the exact boat picked out before I apply for a boat loan with Coastal Financial?
Not for pre-qualification. We would be happy to look at any boat to give you comfort in your negotiations.
Q. How long is the Coastal Financial loan approval process?
This can vary based on the qualifying information that you provide. A typical approval takes only 24 hours- although same day approvals are possible.
Q. Should I have a Marine Survey completed before my purchase?
We always suggest that ordering a survey is a great idea when purchasing a used boat. Although many qualified surveyors are available, our most conservative lenders will require that your survey is conducted by a SAMS or NAMS accredited marine surveyor. To avoid sunk costs (if your purchase is contingent on financing) make sure you have an approval in place before ordering the survey.
Q. What is Coastal Financial's minimum loan amount?
We will loan a minimum of $10,000, based on qualifying states.
Q. What is Coastal Financial's maximum loan amount?
Coastal Financial currently has no limit.
Q. Will I need to document or title my new boat?
Boats over 25' are allowed, if not required to be documented. Others will be state titled. For more information, please give us a call at 1-888-887-2628.
Q. Why would I not finance with my bank?
In addition to likely getting a better rate with us, we provide a quick response, friendly service and extensive industry knowledge. All this will give you a smoother and stress free purchasing experience. Boat and RV financing is all we do!
Q. Why choose Coastal Financial?
Our customers love us. We believe it is because of our customer focused approach, low rates, quick responses, friendly service, and extensive industry knowledge- but don't take our word for it- check out our Testimonial Page.
