Marine units — pontoons, bowriders, fishing boats, and outboards — qualify for longer amortization than powersports. Canadian marine lenders extend up to 240 months on higher-ticket boats, keeping monthly payments manageable across a season-of-use asset class that holds value better than most powersports units. Note: personal watercraft (jet skis) are financed as powersports, not marine.
Boats depreciate slower than powersports and average ticket prices are higher, so Canadian marine lenders extend amortization to 240 months on qualifying units. This keeps monthly payments in line with cash flow for a seasonal-use asset.
Yes — a matching trailer purchased on the same bill of sale is capitalized into the loan and amortized on the same term as the boat.
Some marine lenders offer 60- or 90-day deferrals on fall/winter contracts so payments start closer to the boating season. Interest still accrues during the deferral.
Yes. Every lender requires full hull, liability, and comprehensive coverage in force at delivery. We can refer you to marine specialty brokers.
Yes, subject to age and survey. Units under 8 model years typically qualify for near-new terms; older units may cap around 120 months.