Boat Title Loans
Set sail with boat title loans and access emergency funding! Learn more about getting this type of secured loan with the help of Max Cash®.2 5
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How Do Boat Title Loans Work?
Do you need emergency funding and have a paid-off boat? If you have a lien-free title to a boat in your name, you can use it as collateral for a type of secured loan called a title loan. Boat title loans and motorcycle title loans may not be as common as other types of vehicle-secured loans, but they can be a great way to access emergency money quickly. With a boat title loan secured with the help of Max Cash®, you can get the money you need quickly and with competitive rates and convenient loan terms.4 5
The way boat title loans work is simple: a lender will hold onto your boat title and boat throughout the repayment period if you qualify. Upon full eligibility, you can use your loan proceeds to deal with various personal expenses, including unexpected expenses, rent payments, and more.5
If you’re dealing with a tough financial situation, you are not alone. Boat title loans can be a viable option when you need emergency help to get back on your feet.5
Ready to learn more about boat title loans? If your boat is worth more than $2,500 and you have a free and clear title in your name, you can start your inquiry by completing a short online form or call 833-207-9052 to speak with a Max Cash agent!2 5
What are the Advantages of Boat Title Loans?
If you are thinking about getting a boat title loan, you might be curious about the pros and cons of using your boat as collateral for funding. Like many other loan options, boat title loans come with certain advantages and disadvantages. The benefits of securing a loan against your boat include the following:5
Bad Credit May Not Be An Issue5
Qualifying for traditional bank loans will be difficult without a strong credit history. However, you won’t need a perfect score to get approved for a boat title loan!5
Flexible Inquiry Process5
As the smallest of the classes for motorhomes, Class B vehicles include camper vans or sprinter vans that have been converted into “tiny homes”. While Class B vehicles do not require a special license to drive them, the accommodations are not as nice as Class A or C vehicles. There is significantly less space, but they are cheaper!
Simple Requirements5
To get a boat title loan, you will need to meet simple requirements! If you have a boat with a value greater than $2,500 and possess an Arizona driver’s license, along with a free and clear boat title, qualifying for funding can be simple and fast.5
What are the Disadvantages of Boat Title Loans?
Now that you understand the advantages of boat title loans, it’s important to learn more about the potential pitfalls of securing a loan against your boat:
Risk of Repossession:
If you struggle with paying back your title loan and end up defaulting on your title loan (missing a specific amount of payments), your boat can be repossessed and sold to pay off the loan.
No Access to Your Boat:
As mentioned above, the lender will keep your boat until you have completely paid off your loan.5
What Do I Need to Qualify for a Boat Title Loan?
Before you jump into your loan inquiry, it’s important to make sure you meet the lender’s requirements for a boat title loan. Although the requirements may change from lender to lender, they typically include having a clear title to the boat and a valid Arizona driver’s license.5
What’s the Title Loan Value of My Boat?
Generally, you can access up to half of your boat’s value if you are eligible for a title loan. The value of your boat is based on many factors, such as its age, the condition of the boat, the make and model, and the engine size. The lender will also consider the resale value of the boat to determine its worth during the loan inquiry process.
If you have any questions about the title loan value of your boat, don’t hesitate to contact a Max Cash agent today by dialing 833-207-9052!2 5
FAQs About a Loan Against a Boat
Understanding the ins and outs of boat title loans can help you prepare for your loan inquiry and be as informed as possible before you begin! Below are a few of the most common questions asked by prospective boat title loan borrowers for you to reference:5
