Can you get a title loan on a boat?

Quick Answer Yes, you can get a title loan on a boat. A boat can serve as collateral for a title loan and, just like a car, the process works the same. Your boat's value is assessed to determine your loan amount and the lender holds on to your boat's title until the loan is repaid.

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Kevin Johnson ā€¢ Answer updated on May 24, 2023

Fact checked by Dwayne Dumesle

Yep, if you are in need of a title loan and have a boat, you can use that boat to get a title loan!

What's nice about getting a title loan on a boat is that the process works just the same as it would if you were getting a title loan on a car ā€” the only real difference being, you're using a boat. šŸ›„ļø

Learn: Where can I get a title loan?

While some title loan lenders offer title loans on boats, there are many lenders who do not. That's mainly because it's not always easy to bring a boat to a lender's office to have it assessed, and there are some lenders who require an in-person inspection of the vehicle they're issuing the title loan on before they'll approve the loan.

So, check with your lender directly about what vehicles they accept for title loans near you.

To qualify for a title loan on a boat, you'll typically need:

  • Lien-free boat title
  • Government-issued ID
  • Proof of income
  • Boat key[1]

Just like they would with a car, the lender will assess your boat to figure out how much it's worth. They'll consider its age, condition, and its make & model to figure out how big of a loan you qualify for (no credit check needed).

Learn: How much can I get for a title loan?

After you get approved for the title loan, the lender will hold onto your boat title, and you can sail off into the sunset ā€” cash in hand! šŸŒ…šŸ˜Ž

Once you repay the loan, the lender will return your boat's title. However, do note that if you default on your payments, the lender can take your boat. Because of this, you should always make sure you can repay a title loan before pursuing one or consider a more affordable, lower risk option like a personal installment loan.

  1. Boat title loans ā†©ļøŽ

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