What To Expect From Your Boat or RV Loan Experience

Kyle Vollenweider, Executive Vice President at Newcoast Financial Services, has been involved in marine and recreational finance for almost a quarter century. In that time he has seen plenty of changes, but one thing has remained constant. The job is just plain fun. 

“When you have worked in the field for as many years as I have, you tend to have a lot of repeat customers. And that is a particularly rewarding experience,” Vollenweider says.

A boat owner himself, Vollenweider can add personal insights and experiences as he deals with the financing needs of his customers. 

Now is a great time to finance a major recreational purchase like a boat or an RV. “We went through a tightening of credit from 2009 to 2011, but now we are seeing banks be more aggressive in their lending approvals and their rates. Historically boat loans have been a very well performing segment,” Vollenweider says. “And, business has been brisk. “We have increased every year for the past three years,” he says.

Whether you are looking to finance a sport boat, cruiser, mega yacht or RV, or refinancing your existing loan, Newcoast Financial Services can design a financing program to meet your unique needs. Newcoast has the marine and RV industry experience, unparalleled market knowledge, and personal customer service to help you every step of the way through the buying process. Our team specializes in boat loans as well as yacht and RV financing. With competitive rates and long-term financing, owning a boat or yacht has never been more affordable.

The Newcoast Financial Services experience offers quick approvals, competitive rates, a simple application process, no-hassle closings, unsurpassed industry knowledge, personalized customer service, as well as terms up to 20 years. 

To secure an approval for a loan under $100,000, the company needs a credit application, personal financial statement, and a recent pay stub. For a loan of more than $100,000, Newcoast requires a credit application, personal financial statement; the two most recent years of personal tax returns; the two most recent years of business tax returns (if applicable), as well as a recent pay stub.

Decisions are typically arrived at within 24 hours of a completed application package. Approvals are good for 60 days and rates lock in for 30 days. The company can finalize the transaction (disburse funds) within just a few days. Newcoast finances loans from $25,000 up to $10 million. Terms are up to 15 years for $25,000 to $75,000 and $75,000 and above are up to 20 years.

In addition to loan services, Newcoast provides peace of mind and protection for your boat or RV with comprehensive property and casualty coverage in partnership with with some of the most respected warranty insurers in the nation. When boating or traveling, insurance is not just an option; it is a necessity. From protection for a small runabout to a world class luxury yacht or an RV, we have the right policy at the right price. Extended warranty protection plans are also available from Newcoast.