FAQ

What will my interest rate be?
Your rate will vary. It depends on many factors, which include your loan amount, your down payment, your credit profile and the age and value of your boat. As soon as we process your application, we will let you know your interest rate and program options. �

How long will it take to process my application?
Complete our online loan application and you may be approved within minutes. �

How much of a down payment do I need?
The typical amount down is 20%. However, you may qualify for special programs that have no minimum down requirements. �

What are the largest and smallest loan amounts that you offer?
There is no maximum. If your needs are more modest, we can finance loans in amounts as small as $15,000. �

How is interest on your loans calculated?
All our loans are simple interest loans. You only pay interest on the principal owed. �

Do you have an application fee?
No, AAF does not charge an application fee. ��

What types of boats can I finance with AAF?
AAF finances the vast majority of available boats. This includes even hard-to-finance vessels like mega yachts, high-performance boats, multi-hull boats and wooden hull boats. �

How do I apply? JUST FILL OUT OUR ONLINE LOAN APPLICATION. �

Do you require a minimum credit score?
Yes. Your credit score must be 620 or higher. �

I am a foreign national. Can I get financing through you?
Yes, as long as you reside and work in the United States.

What are the shortest and longest terms available?
The shortest term is 5 years. The longest is 30 years. �

Do you finance loans for people residing in all 50 states?
Yes. We also finance loans for residents of Puerto Rico. �

Do you finance loans to corporations?
Yes, we do lend to corporations, but only when the vessel is for personal use. We do not finance vessels that will be used for commercial purposes.

Do you offer pre-approvals?
Yes, you may apply online now and get an Instant Credit Decision. �

Do you work with dealers/brokers?
Yes. We work with dealers/brokers across the continental US, Alaska, Hawaii and Puerto Rico. �

Do you offer equity out programs? Yes, you may receive cash out up to $50,000. �

Do you require income verification on all loans? No. For well-qualified applicants, income verification may be waived on loan amounts up to $250,000.

Can I defer my first payment?
Yes, you may defer your first payment up to 90 days. �

Can my payments be automatically deducted from my bank account? Yes. Just let your sales representative know before the closing of your loan.

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